Trudeau: U.S. Debt is Not Sustainable

Discussion in 'Economics' started by Tsing Tao, May 29, 2018.

  1. Nine_Ender

    Nine_Ender

    Only an ignorant man thinks the size of a population impacts on levels of atrocities in a society. Whether its 20 million people or 300 million people that's plenty of critical mass. Seriously, educate yourself about the world and stop being a dumb ass on the internet.
     
    #51     May 31, 2018
  2. Why dont you just stick with that argument about how skin color is not the only factor related to diversity so that explains your Lily Whiteness while radiating superiority when it comes to racial matters and diversity compared to the United States. That was a winner. Go with that.

    Idiot. Canada is just a place where you come to squat and make some loonies. No knowledge or care about national affairs or loyalty to anything other than your bank account.

    And what country are you originally from? Oh, that's right. You wont say because that country would have a history, faults, and participated in various injustices and it would be harder for you to make the case that you were born up on Mount Olympus.
     
    Last edited: May 31, 2018
    #52     May 31, 2018
  3. bone

    bone

    This thread has gotten too righty-lefty.

    Righties get all hyper defensive when someone criticizes the US, and lefties think every other country is better than the US because half the country disagrees with their politics and it just pisses them off to no end that the United States is a representative democracy and a constitutional republic.

    The US is not Canada.

    And Trudeau is right that the US has an unsustainable level of debt. And Trudeau is being disengenuous for conveniently leaving out the fact that Canada will itself have to issue fresh Sovereign Debt to pay for a 70 percent increase in defense spending. Because Canada spending 1 percent of its GDP on defense is apparently not sustainable courtesy of Russia's aggression and the US's newfound set of balls.
     
    Last edited: May 31, 2018
    #53     May 31, 2018
  4. The Canadians argue that they have difficulty ponying up for defense spending because- unlike those barbarian warlike Americans- they are more committed to international humanitarian aid and social development programs and that is where all their little humanist hearts want to focus.

    That is a crock though. They are cheapskates when it comes to foreign aid and humanitarian relief. The Americans? Well, we are the world's ATM machine when it comes to the UN or foreign aid.

    https://www.thestar.com/opinion/edi...e-for-canada-to-do-better-on-foreign-aid.html
     
    #54     May 31, 2018
  5. piezoe

    piezoe

    Thanks. That may be a factor. But then again it may not be. Incidentally, I don't agree with Trudeau with regard to the debt. The U.S. debt is completely sustainable. In fact, at this level it is immaterial. As I pointed out in another post somewhere, it is the amount of currency in circulation relative to productivity that is the critical factor. The U.S. is fine in that regard.

    I always thought that Zimbabwe got into trouble because they did not tie all their currency issuance to debt. (They could not do that of course) I now realize that that is incorrect. They got into trouble because their productivity plummeted and they did not reduced their currency issuance accordingly. Had they, they would have experienced other problems that would also have ruined them. So their real problem was the steep fall off in farm production following Mugabe's annexation of farms.
     
    Last edited: May 31, 2018
    #55     May 31, 2018
    bone likes this.
  6. bone

    bone

    No, I’m just being rational and factual. A country that is 89.2% White (Canada) is going to look integrated by default. How obvious is one Oreo crumb in a bowl of milk? The biases and inequalities are drowned in a sea of whiteness for fucks sake.

    The US is 66.5% White. The US is MUCH more racially and culturally diverse than Canada. And that’s a very good thing. I see economic segregation in the US. I see affluent persons of color moving to affluent suburbs or affluent enclaves and buildings in the city. I see people making quality of life decisions based upon their financial success.

    But I also see cultural segregation by choice in the US. There’s a Chinatown, there’s a Greektown, there’s a Vietnamese community, there’s a Puerto Rican Community - but’s it’s by free will and choice. It’s a familial and cultural consideration. Been that way for generations.

    But I also see more and more interracial couples and marriages. And I see those families moving away from cultural segregation by choice.

    People get too enslaved by political tribalism. As an economic power and a reservoir of opportunity - the United States is the global superpower.
     
    #56     May 31, 2018
    piezoe likes this.
  7. Tsing Tao

    Tsing Tao

    No, but after you asked the first time, I gave you a google is your friend link that showed you numerous sources that would be able to provide you data (and if you had been following any economic news at all, you would have seen it). Then you proceeded to ask yet again.

    Don't blame me because you're new to the internet.
     
    #57     Jun 1, 2018
  8. d08

    d08

    He's talking about government debt as is obvious from the fact he talks about government spending.

    An interesting chart:
    [​IMG]
     
    #58     Jun 1, 2018
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  9. bone

    bone

    From what Google searches I’ve read it seems that one big difference that’s obvious is that Canada has cut defense spending first in lieu of any changes to domestic programs the past couple decades. Canadian defense spending is currently 1% of GDP and for the US it’s 3.5% of GDP.

    And now that Canada has been told to carry their own water in terms of aggressive Russian border incursions that will have to change. I was pretty shocked that Huff Post - Canada just destroyed the sad dilapidated state of the Canadian defense forces.
     
    #59     Jun 1, 2018
  10. piezoe

    piezoe

    The U.S. needs to spend more on war because it is a country perpetually at war. A countries fate is tied to its priorities. Current U.S. Priorities will weaken the social fabric of the nation, weakening from the inside out; whereas a Country like Canada with priorities more in line with societal needs may strengthen internally. The spontaneous direction of societal development is always toward satisfaction of our ingrained vanity, greed and instinct. It takes far more effort to move against this natural tendency than to give in to it. Often a calamity or crisis forces our hand. The American society has been described by George Hammond* as crisis driven. In the meantime, changing national priorities alter the rate of descent, or ascent of a society; the effect may not be recognized other than in hindsight. The Spanish American War began 120 years ago and marked the ascent of the U.S. to world hegemonic power. A zenith was reached in the twenty year period between 1950 and 1970. The adoption of supply-side economics coincided with the beginning of the U.S. descent, which was slow initially but has accelerated markedly since January 2017. The ride down is going to take less than 120 years. In the meantime Canada has not reached its zenith.

    It is a curious quirk of fate and bizarre observation to find that the Wall Street Journal is connected more than casually to both the beginning of the descent (Wanniski) and the more recent acceleration (Murdoch). Another muckraking journalist, W.R. Hearst played a significant role in pushing the U.S. into war with Spain.

    ______________________
    *The chemist, George S. Hammond, personal communication.
     
    Last edited: Jun 1, 2018
    #60     Jun 1, 2018
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