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buzzlie
Posted on: 2011/8/8 9:24
Home away from home
Joined: 2010/10/21
From: Shah Alam
Posts: 838
Benz Model: W210 E280
Message:
America's Debt

Want to know what America’s debt of 14.3 Trillion Dollars looks like? Log on to www.wtfnoway.com

Interesting.
renngrun
Posted on: 2011/8/8 11:11
Home away from home
Joined: 2010/7/20
From: Shanghai/Shenzhen/Minsk/Dnepr
Posts: 4455
Benz Model: W210 E320
Message:
Re: America's Debt
Buzz,

Thanks mate. It's been a long time coming. The most 'powerful' economy gunna bite the dust. Shows how spending on credit will do to ya.

Everything is cheaper in the USA even from the land its manufactured from. And you can buy everything on credit or lease. No tax/duties/levy for goods. This is what you get.


----------------
Money Drives Women Horny - Willie Nelson

gerardj
Posted on: 2011/8/8 12:15
Home away from home
Joined: 2010/12/6
From: Abu Dhabi & Port Dickson
Posts: 5781
Benz Model: C107 380 SLC
Message:
Re: America's Debt
True dat, RG.

The Yanks have been heding towards financial ruin ever since they took the dollar off the gold standard and reduced it to fiat money with nothing physical to back its value. With that, they just print new money when the need arises.

America today is a financial train wreck.


----------------
THE KUNJIATOR
Vice President Of Kunjistan


MBFan
Posted on: 2011/8/8 17:10
Home away from home
Joined: 2011/7/26
From: Penang
Posts: 203
Benz Model: C250 CGI Adv
Message:
Re: America's Debt
Just to summarize the economy pie in this world, I would say more than 60 to 70% of the world reconomy was held by USA,Europe and Japan. Apart from USA is having influenza now, Europe started from Iceland, Greece then Spain, and now Italy and more to come. Next, Japan, it was smashed by the recent tsunami, the nuclear plant generator will take decades to recover. Which means, those heavy industry and highly core competent technologies are in the plan to swift it to other province. The usual recovery will take at least 3 to 5 years.

Next, China - next emerging economy super power is also getting a soft landing now, they pumped in hundreds of billions into their stmulus econmy plan has somehow come to a halt, the internal stimulus plan to offset the impact from external countries cannot be sustained for longer term, so, very soon their economy will be soften very soon, probably next year.

So, as what we can see, the cyclical of booms and downs become very short now, it used to be 10 years cycle, and noe the cycle becomes shorter and shorter, which means it booms for 3 to 4 years then landed again.

So, all of us will start to tighening the belt very soon...be prepared for the landing.....good Luck !!
gerardj
Posted on: 2011/8/8 17:50
Home away from home
Joined: 2010/12/6
From: Abu Dhabi & Port Dickson
Posts: 5781
Benz Model: C107 380 SLC
Message:
Re: America's Debt
Interesting observation, MBFan. I personally am looking forward to the landing cause there'll be bargains to grab - both in the car and property market.

I may get my Ferrari before I turn 40! Yyyeeeehhhhaaaawwww!!!


----------------
THE KUNJIATOR
Vice President Of Kunjistan


renngrun
Posted on: 2011/8/8 17:54
Home away from home
Joined: 2010/7/20
From: Shanghai/Shenzhen/Minsk/Dnepr
Posts: 4455
Benz Model: W210 E320
Message:
Re: America's Debt
Same here...same here....


----------------
Money Drives Women Horny - Willie Nelson

hoggies
Posted on: 2011/8/8 20:39
Certified Benzitos
Joined: 2008/4/6
From: KL
Posts: 1868
Benz Model: W124 230E
Message:
Re: America's Debt
What I fear would be that when things get really desperate, the US will start another war.


----------------
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tfgoh
Posted on: 2011/8/8 22:16
Home away from home
Joined: 2008/4/27
From: Butterworth
Posts: 531
Benz Model: W202 5-speed 1997
Message:
Re: America's Debt
Niamah USA...crazy shoot...hutang lingkup...worst than PKFZ scandal :)
Mabel
Posted on: 2011/8/8 22:22
Benzo mania
Joined: 2007/8/7
From: Shah Alam, Cyber Jaya, Sunway
Posts: 20052
Benz Model: S320L, E240, C200
Message:
Re: America's Debt
When US Sneeze, the whole world catch a cold...

"Asian markets follow Wall Street sell-off August 5, 2011
(CNN) -- Asian stock markets are recording sharp declines Friday, extending a global equity sell-off after Wall Street had its worst day since the 2008 financial crisis..... http://edition.cnn.com/2011/BUSINESS/08 ... index.html

Stocks dive on global fears August 5, 2011
Update A sea of red on financial markets wiped as much as $60 billion off the sharemarket as fears of another global financial crisis spooked investors.
http://www.smh.com.au/business/stocks-d ... 1idzc.html

This time it's serious August 5, 2011
If you thought round one of the financial crisis was pretty rough three years ago, that was just a dress rehearsal for the main act. And the performance has just begun.

For the past 10 days, the markets have been doing the dance of the uncertain. Serious falls but nothing to get too alarmed about. On Wednesday things began to get ugly. Then came last night, when it finally dawned on traders in Europe and North America that there is almost no way to avoid an economic calamity.

The problem is compounded by the fact that it is so alarmingly huge and that it is replicated throughout the developed world. Massive deficits, enormous debts, and no obvious way to pay for it all......
http://www.businessday.com.au/business/this-time-its-serious-20110805-1ie4t.html?rand=1312495362432

had to throw this one in:
Black magic behind the sharemarket carnage August 5, 2011
There's something magical, in a black magic kind of way, about falls of the magnitude the markets are now delivering.

Markets rise and markets fall, but the declines overnight — 512.8 points or 4.3 per cent on the 30-share Dow Jones marker, 4.8 per cent on America's 500 share S&P 500 counter, 3.4 per cent in the United Kingdom, more than 5 per cent in Italy, 4 per cent in Spain, 3.4 per cent in Spain — are rarely seen..... http://www.smh.com.au/business/black-ma ... 1iecj.html

Euro crisis: Barroso warns debt crisis is spreading 4 August 2011
European Commission President Jose Manuel Barroso has warned that the sovereign debt crisis is spreading beyond the periphery of the eurozone...... http://www.bbc.co.uk/news/business-14404852

Italy's 2400 tons of gold: Real target of 'IMF terrorists'?
http://www.youtube.com/watch?v=P1HKr5qD ... r_embedded

Italy has the third-largest gold stockpile in the EU behind France and Germany, and the IMF wants all of it according to Keiser.

Fri Aug 5, 2011 12:2AM GMT

Stock markets around the word have plunged amid fears of worsening economic turmoil triggered by the eurozone debt crisis and slow recovery of the US economy.

The US stocks market, on Thursday, suffered its worst day since the financial crisis, as shares tumbled over fears of a new economic meltdown.

At 1600 GMT, the Dow Jones Industrial Average was down 3.5 percent in closing trade and at one point had lost more than 400 points, the Standard & Poor's 500-stock index dropped 3.3 percent in late trading, over a 10 percent drop from its April peak, and the tech-heavy Nasdaq Composite shed 3.4 percent, The Wall Street Journal reported on Thursday.

The decline marked the biggest single-day loss since Dec. 1, 2008, when the stocks plunged 679.95 points in one of the market's worst days ever.

Meanwhile, Frankfurt's Dax and London's FTSE 100 indexes had their worst day this year, closing almost 3.5% lower as there are fears that the debt crisis could hit Italy and Spain.

Experts say evidence of global economic weakness has recently increased, raising fears of another recession on the way.

The EU has also warned that a debt crisis is spreading beyond Greece, Portugal and Ireland and is now striking the heart of the eurozone.

http://www.presstv.ir/detail/192401.html

US loses AAA credit rating after S&P downgrade 6 August 2011
One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating for the first time ever...... http://www.bbc.co.uk/news/world-us-canada-14428930

S&P Warns of a Second Downgrade

One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.

The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.

S&P managing director John Chambers told reporters on a Saturday conference call that the toxic mix of a listless economy and political infighting will cause government debt to grow.

“Compared to some other highly rated governments, the U.S. government does not have the proactive ability to put public finances on a firm footing,” Chambers said.

His colleague David Beers said the partisan discord increases the risk that Washington will not achieve effective policy remedies.

“For that reason, there’s a lot of uncertainty about the future debt burden,” Beers said.

Read more:

http://www.politico.com/news/stories/0811/60803.html#ixzz1UM9Nc5Vl

China is being very outspoken about the collapse of the dollar: -

China slams US inaction on debt crisis

Mon Aug 8, 2011 1:4AM GMT

China's state news outlet reflects Beijing's dismay at the US debt crisis in a highly critical commentary, attacking the congressmen for their inaction on the dire situation.

On Monday, the official Xinhua news agency said the Democrats and Republicans in both chambers of Congress did not take the necessary measures to solve the debt crisis.

"Disappointingly, instead of reflecting on themselves and sitting down to fix problems in a cooperated way, the Democrats and Republicans... are questioning the creditability of the downgrade ruling and blaming each other for the ever-first shame of slipping out top-credit rating club," it said.

Earlier in the week, Dagong Global Credit Rating Company, China's top ratings agency, slashed the US credit rating from A+ to A, casting doubt on whether the federal government is capable of repaying its USD 14.3 trillion public debt in the long term.

The agency's move came after interminable infighting on Capitol Hill over raising of the country's debt limit brought the country within an inch of defaulting on the debt.

Officials in Beijing say a failure by Washington to control the astronomical debt could put the lives of millions of families within and beyond the US borders in danger.

http://www.presstv.ir/detail/192861.html

Asian stocks sink over US credit drop

Mon Aug 8, 2011 3:40AM GMT

Asian stock markets have plunged over fears of a global economic recession following the lowering of the US credit rating by a leading financial agency.

Tokyo's Nikkei stock market fell 1.4 percent before making slight gains on Monday while Australia's S&P/ASX-200 index shed almost 2 percent in early trading, and indexes in New Zealand plummeted more than 3 percent, US-based ABC News reported.

According to the report, shares in South Korea also opened 1.4 percent lower.

In Hong Kong, the main share index opened more than 2.5 percent lower as markets dropped two percent in Singapore.

The uncertainty in global markets follows a fall in US futures prices, which was brought about after the Standard & Poor's credit rating agency (S&P) downgraded the United States' triple-A rating by one notch on Friday, from the top AAA to AA+, for the first time in the history of ratings amid concerns over the country's massive debt.

This comes as stock markets in major Arab countries also experienced a sharp drop in the value of shares due to fears that the decline of America's credit rating would pose an adverse effect on an estimated USD 1 trillion of Arab holdings of US treasury bonds.

On Sunday, the Saudi stock market rose slightly after diving 5.46 percent earlier, while all other Arab stock markets plunged.

The benchmark of the Dubai stock exchange plummeted 3.7 percent and Abu Dhabi's all-share index went down 2.6 percent while Kuwait's KSE index fell 1.6 percent and Egypt's AGX 30 index shed 4.2 percent.

Credit ratings agencies such as Moody's Investors Service and S&P cautioned Washington on August 3 to promptly reduce its debt-to-GDP ratio or it will otherwise face losing its triple-A rating.

According to a recent default-preventing debt bill passed by the US Congress, the country's debt ceiling was raised by $2.4 trillion, to the level of $16.7 trillion, just a few hours before the August 2 deadline.

The bill was passed under public pressure over persistent bickering between the dominant Democratic and Republican parties over budget cuts and tax hikes and despite major reservations by members of both parties.

http://www.presstv.ir/detail/192869.html

World discards dollar: Chinese rating co.

Sun Aug 7, 2011 9:19PM GMT

Amid gloomy prospects for the United States creditworthiness, China's top ratings agency says the world is gradually disposing of the dollar as its reserve currency.

Dagong Global Credit Rating Company's chairman Guan Jianzhong said the US dollar is “gradually discarded by the world” and the “process will be irreversible,” CNBC reported on Sunday.

Earlier in the week, the firm slashed the US credit rating from A+ to A, casting doubt on whether the federal government is capable of repaying its USD 14.3 trillion public debt in the long term.

The agency's move came after interminable infighting in the US Congress over raising of the country's debt limit brought the country within an inch of defaulting on the debt.

“I think the most pressing issue facing the US at the moment is to reflect on the crisis which happened in relation with the debt ceiling," Jianzhong stated.

"They should get a clear understanding that the continuous decline of the debt service capability will inevitably result in the outbreak of a sovereign debt crisis,” he noted.

Officials in Beijing say a failure by Washington to control its massive debt could put the lives of millions of families within and beyond the US borders in danger.

Dagong downgraded the US ratings from AAA to A+ in November after the US Federal Reserve loosened its monetary policy.

http://www.presstv.ir/detail/192850.html


----------------
Cheers/Mabel

Nothing great was ever achieved without enthusiasm
Take time to read. It is the fountain of wisdom
Membership Number: One Nine Seven Seven

Mabel
Posted on: 2011/8/8 22:26
Benzo mania
Joined: 2007/8/7
From: Shah Alam, Cyber Jaya, Sunway
Posts: 20052
Benz Model: S320L, E240, C200
Message:
Re: America's Debt
Quote:

hoggies wrote:
What I fear would be that when things get really desperate, the US will start another war.


I believe it is being stage. This is one of the drivers along with other initiatives to instigate another major war...


----------------
Cheers/Mabel

Nothing great was ever achieved without enthusiasm
Take time to read. It is the fountain of wisdom
Membership Number: One Nine Seven Seven

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