Originally Posted by Quagmire (Post 11401825)

The plan would be to assrape Alberta into submission and then use the oil money to pay off the debt. :winkwink:

Originally Posted by Fris (Post 11398731)

fox news should buy fakenews.com

Originally Posted by ForteCash (Post 11400867)

If by happy you mean a weaker currency and future revolution, not to mention blood shed in the streets, sure. Sounds happy.

Originally Posted by LadyMischief (Post 11402109)

Canada would in no way allow that, the US is sinking in debt, Canada has budget surpluses.

http://www.canada.com/nationalpost/n...62e7ba&k=93957

http://www.canada.com/nationalpost/n...895b2ba&k=3154

Besides, Canadians would in no way allow themselves to be subjected to the kinds of restrictions the US government has in place over culture and lifestyle. Wouldn't fly at all.

Originally Posted by marumari (Post 11398747)

anyone smell New World Order? :)

Originally Posted by VoteForPedro (Post 11398745)

Amexicanada

Originally Posted by Nysus (Post 11398769)

Canada really wouldn't care to attach itself to the debt of the US in any way, unless the US has some moral scheme of making the money back.

Matt

Originally Posted by ForteCash (Post 11410312)

You mean Canada would physically stop the US, with all it's military might? :1orglaugh

Originally Posted by Cristie (Post 11410683)

Aga. And South America now has almost the union. Ecuador annd other countries have signed visa free agreement.

Originally Posted by AllUpInner (Post 11410819)

NEW WORLD ORDER? with the US ? HAHAHA! thats totally laughable!

as stated.. South America is forming a union, Europe formed a union, did anyone suggest the Euros were out to conquer the world? why not, they've tried before!

Originally Posted by AllUpInner (Post 11410799)

ummm the last i checked, the US has the best credit rating of any world government.. and its other govenrments who put their money into US treasuries.. as it is considered jsut about the safest place to invest... and there is a reason for that..

there is a WHOLE bunch of sheeple ready and willing to lineup and pay their hard earned money in taxes with absolute regularity!

unwantingly - i am but one of the sad bunch who do.

Originally Posted by Webby (Post 11411346)

Some facts for ya. Governments lend money to other governments, - not invest it. Investing is for a marketplace. Governments also lend money not because it's the "safest place to invest" - they even give the stuff away.

The US government has been constantly borrowing money from other nations since the late sixties and using it to pay the national credit card. There has also never been a trade surplus since the late 1960's.

As at September 2004, the U.S. government has a negative net worth of over 7.7 trillion dollars. That is according to Uncle Sam's accounting and this does not include intragovernmental debts nor accrued liabilities such as any provision for pensions, social security and other commitments.

It's more than fair to say the balance sheet grossly understates the enormity of the U.S. government?s deficit net worth position.



Meanwhile, current borrowings continue at levels where this has played a part in the low value of the dollar and in the region of $8 billion/day. Between $2-3 billion a day is being loaned by the Central Bank of China alone.

The question of "credit rating" does not even enter into the scenario. If the US was a corp, US Inc, it would be operating illegally and insolvently with a deficit exceeding $7.7 trillion dollars and the officers thrown into jail for violation of corporate laws.

Keep playing your taxes - far higher rates are needed before solvency or break-even is in sight :pimp

Originally Posted by ForteCash (Post 11411371)

Very well put and TOTALLY frightening. just the more reason to buy gold :2 cents:

Originally Posted by Webby (Post 11411408)

It is kinda frightening - even now when the dollar happens to be low, any prospect of eg China dumping some of their billions in US dollar currencies can screw the dollar even more.

There is little interest in China doing this, but they have been trying to pass out dollars into other currencies for a few years - and the current lowish value has got to be tempting from them to dump more.

Flipside, it's all a game and a matter of keeping a balance. It's not in anyone's interest to see any country be damaged economically, and that includes the main creditor, China.

But... bottom line, it's obvious (and has been for a number of years) that the current scenario is not sustainable. The US seriously needs to earn hardcore asset value and this would prob come from having a trade surplus over a sustained period.

Originally Posted by Webby (Post 11411475)

Jeez...

Page 4 of the Treasury's Balance Sheet for 2004 actually states the liabilities re "including Medicare and Social Security payments, pensions and benefits for Federal employees and veterans, and other financial responsibilities"
which, for some strange reason are not included in the balance sheet.

The total of the above social and pension commitments is $45,892 billion dollars - add that to the quoted balance sheet deficit of 7,710 billion and the real deficit (tho who knows if that's all there is?) is in excess of $52 trillion dollars.

I'm gonna have a drink and a think about the value of dollars :1orglaugh

Originally Posted by ForteCash (Post 11411622)

Man that fucking sucks. My dad and grandma live off their social security check each month and literally have no savings :( If that check stops.. fuckus.

Originally Posted by Webby (Post 11411906)

Sure.. they worked for that pension and fully entitled to every dime.

It's not just the US where that scenario is likely to arise ForteCash. The abuse govts have for pension funds that don't actually belong to them is amazing. They spend their way thru other peoples pension money as tho it belonged to them.

There are elements of that elsewhere, including the EU. The UK govt is much the same. If the same funds were invested into a balanced range of markets, the pension level would have been a lot higher. In recent years there has been a push for everyone to make their own pension provisions - only two reasons exist for that:

(a) the govt has already spent the pension fund and the pot is empty.
(b) the govt now think it's a wonderful idea that everyone should have control of their pension funds (sales pitch, but a bit late for that :) ) - and in the process absolve them of their previous commitments to pensions.


PS Next they'll be charging taxes for annual appreciation of private pension funds :winkwink:

Originally Posted by baddog (Post 11399727)

It isn't working in the EU, it certainly won't work here. :2 cents:

Originally Posted by baddog (Post 11399727)

It isn't working in the EU, it certainly won't work here. :2 cents:

Originally Posted by BuySexProducts (Post 11398737)

bull shit....

Originally Posted by Gunni (Post 11414009)

So it is working exactly the way they predicted, the countries that were rich have pretty much stayed in place and the poorer one have benefitted

Originally Posted by viva celebs (Post 11414092)

mexico would jump at the chance to take yankee dollars, i would laugh if canada even considered though

Originally Posted by Mike33 (Post 11399580)

It doesn't seem that far fetched. The economies of Canada and Mexico are already dependent upon the US.

Originally Posted by LadyMischief (Post 11414425)

That is where you would be wrong. Yes, Canada is currently the US's major trade partner, but the resources we provide to you could just as easily be sold to other countries. It was political BS sparked by George Bush that caused the Canadian government to sell the largest share in the oil sands to CHINA, and believe me Canada has been expanding it's boundries as far as trade. Do some reseach before you jump to assumptions. Remember, the Euro spends as easily (and goes further) than the greenback right now.

Originally Posted by AllUpInner (Post 11410799)

ummm the last i checked, the US has the best credit rating of any world government.. and its other govenrments who put their money into US treasuries.. as it is considered jsut about the safest place to invest... and there is a reason for that..

there is a WHOLE bunch of sheeple ready and willing to lineup and pay their hard earned money in taxes with absolute regularity!

unwantingly - i am but one of the sad bunch who do.

Originally Posted by ForteCash (Post 11414442)

You also have a neighbor that could make you their absolute bitch at the whim of our mad-men leaders :2 cents: