The US dollar and the biggest default in history.

Discussion in 'Economics' started by SouthAmerica, Mar 16, 2008.

  1. and people are saying the recession is over. The world economy is recovering.
    #41     Feb 12, 2010
  2. Lethn


    What we need is for someone to have the guts to boot these spend crazed assholes off the government completely. I don't think people have a lot of faith in Democracy though anymore but they can't go and let this continue.
    #42     Feb 12, 2010
  3. Infact, all the countries are facing severe debt crisis.

    Country-------2009 Total debt(% of GDP)

    #43     Feb 12, 2010
  4. Lethn


    So long as the debt exists the economy will never recover.
    #44     Feb 12, 2010
  5. You don't get it.

    Our economy is based on debt.
    #45     Feb 12, 2010
  6. .

    February 12, 2010

    SouthAmerica: Reply to Bearice

    You posted the following info: Infact, all the countries are facing severe debt crisis.

    Country-------2009 Total debt (% of GDP)



    SouthAmerica: Brazil is in the best financial shape that Brazil has been in many decades. And the future looks great for the Brazilian economy.

    Right below the table that you provided from Pimco after the above numbers Bill Gross is forecasting a much better future for countries such as Brazil.

    Note from the Pimco website: “New Normal, China, India, Brazil and other developing economies have fared far better than G-7 stalwarts? PIMCO’s New Normal distinguishes between emerging and developed economic growth, forecasting a much better future for the former as opposed to the latter.”


    I have no idea how the people who prepared that Pimco chart arrived to their figures – they list Brazil as 142 % Total debt (% of GDP).

    The numbers for the Brazilian economy according to the CIA Factbook is as follows:

    Brazil: Public Debt is 46.8% of GDP (2009 est.)

    Note: Even this figures published by the CIA Factbook I thought were higher than the actual figures published by the Brazilian government of around 40 % for public debt as % of GDP for 2008.

    #46     Feb 12, 2010
  7. .
    February 16, 2010

    SouthAmerica: I posted the following information today on Brazzil magazine in the comments section of one of their latest articles.

    The information below is relevant in relation to the coming collapse of the US dollar.


    Ricardo: The United States still have a better educated population than we have in Brazil and that did not stop Americans from giving a second-term to politicians that were wrecking the U.S. Economy – Bush/Cheney the worst U.S. government administration since 1776.

    They destroyed the foundations of the U.S. economy and also “Pillaged the Future of the New American Generations” – people such as Dick Cheney, Hank Paulson, and many others of the Bush administration belong in jail. If these guys were part of a past Chinese government with a similar record of a massive mess that these guys left behind, then right now they would be facing execution in China by a Chinese government firing squad. (for the long-term damage that they have caused to their country.)


    I am reading right now the following book: “It Takes a Pillage” Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street. By Nomi Prins.

    This book (296 Pgs) was published in October 2009. Nomi Prins is a former managing director at Goldman Sachs and her book exposes the corruption in Washington and Wall Street. Her articles are published on Fortune magazine, the Nation, Mother Jones, and other publications. And her latest book has become an important source of information about the corruption in Washington and its connection to Wall Street.

    You’ll find out how the revolving door between Wall Street and Washington enabled and encouraged the disastrous behavior of large investment banks. You’ll meet the Pillage People: the men who funneled trillions of dollars directly to the banks and the executives whose companies drained the American economy.

    You’ll learn which of the Federal Pillage Triumvirate pirated the biggest part of a $ 10.7 trillion bounty-Hank Paulson, Ben Bernanke, or Timothy Geithner. You’ll decide which private-sector pillager took the biggest share of spoils…

    …Worse, the Second Great Bank Depression led to the very expensive and largely nontransparent $ 13 trillion bailout of the financial industry, while leaving the banking and investment structures intact.

    Wait? More than $ 13 trillion in the bailout? If you thought this bailout was only about a $ 700 billion thing called Troubled Asset Relief Program (TARP), which is what the banks, the Treasury Department, and the Federal Reserve want you to believe, you really need this book…

    …By summer of 2009, the price tag for the federal government’s bailout of the banks (including all federal loans, capital injections, and government loan guarantees) stood at approximately $ 13.3 trillion, roughly dividing into $ 7.6 trillion from the Fed, $ 2.5 trillion from the Treasury (not including additional interest payments), $ 1.5 trillion from the FDIC (including a $ 1.4 trillion Temporary Liquidity Guarantee Program (TLGP) initiated in October 2008 to help banks continue to provide lending to consumers), a $ 1.4 trillion joint and a $ 300 billion housing bill. This number is so huge, it is almost meaningless. But by comparison, $ 13.3 trillion is more money than the combined costs of every major U.S. war (including the American Revolution, the War of 1812, the Civil War, the Spanish-American War, World War I, World War II, Korea War, Vietnam War, Iraq Wars, and Afghanistan War), whose total price tag, adjusted for inflation, is $ 7.2 trillion. Plus, according to Oliver Garret, the CEO of Casey Research, who studied this war-versus-bank-bailout comparison, “World War II was financed by savings, the American people’s savings, when Americans bought war bonds…today, families are in debt and the government is in debt. Lots and lots of debt.

    Meanwhile, $ 50 trillion in global wealth was erased between September 2007 and March 2009, including $ 7 trillion in the U.S. stock market and $ 6 trillion in the housing market. In addition, the total amount of retirement and household wealth trashed was $ 7.5 trillion in pension plans and household portfolios, $ 2.0 trillion in lost income in 401 (k)s and individual retirement accounts (IRAs), $ 1.9 trillion in traditional defined-benefit plans, and $ 3.6 trillion in non-pension assets…


    Note: The above information is quoted from the “Introduction” to Nomi Prins latest book.

    #47     Feb 16, 2010
  8. gee, you mean reagans trickle down piss economics didn't work?

    will the evangelical slaves ever learn?


    we can always trust the retards to keep on voting for those who put the interests of foreign powers and corporations ahead of their voters.

    the ass shafting hasn't even began. and the average un-employed obese voter definitely deserves whats coming to him. Forced diets coming up ahead. Courtesy of reagan and bush jr.
    #48     Feb 16, 2010
  9. November 18, 2010

    SouthAmerica: In a Nutshell:

    That is why we are in the middle of a major "Currency War".

    #49     Nov 18, 2010
  10. January 1, 2012

    SouthAmerica: Just a Reminder: The US dollar and the biggest default in history….

    The United States is not far behind Greece, Italy, Spain, Portugal, UK, France, Ireland and so on....

    It's just a matter of time!!!!!

    #50     Jan 1, 2012