America - your country is fucked

[ill-matic]

HI America,

China owns your ass. China owns about $800 billion worth of American Government bonds. America's debt is $12 trillion. That's a lot of zero's. Actually, that amount is about the same value as your economy as a whole. Good luck paying that shit off.

Oh and good luck when you default and you say to the Chinese "sorry, but we really can't pay this anymore". Good luck with your economy too - printing more and more money to pay this entire amount off, creating crazy inflation and all the other shit.

 

[Casey]

India > China

 

[yak pac fatal]

The whole world is fucked.

 

[Duke]

I know jack shit about economics, but what if the US said "fuck that, we aint paying that shit".

What would happen on a economic level, lol.

 

[masta247]

Yeah I'm waiting for that for a few years already. America has been on the edge for a long time.
I wonder what happens.

The whole world is fucked.

Not really. My country as well as many others are doing good recently.
The fact that America and a few western countries are doing bad doesn't mean that the whole world is doing bad and that they are "fucked". Sure obviously it's not a good sign though.

 

[S O F I]

Somebody watched a Michael Moore film.

Although the figures you mention are right, the analysis and prediction is largely pessimistic. There is no real reason to assume that the United States will default on its debt. Also, American and Chinese economies are very interlinked that it is only beneficial for China for America to be prosperous and vice versa. It is only the lay-man who thinks that China would sell off billions of dollars of our debt because doing so would annihilate the value of its dollar reserves. Plus, China is not as powerful as people think. It's powerful in the sense that it could resolve the North Korean conflict simply by refusing to send food and cheap oil but that's another story. China's economy is less than a third the size of America's and it's GDP per capita is 1/14th of America's. America's defense budget is still six times China's. Plus, China is facing increasing social unrest. Thousands of protests happen every year, corruption is widespread, crime is increasing, and as it grows richer, social and cultural tensions will only escalate. It's not all peachy for them either. The reality is that America is facing a chronic debt problem and that the dollar will not stay the world's reserve currency forever and that America will not be on top forever. But to say that America is "fucked" and that we'll all starve or bankrupt like Iceland is absurd.

 

[SiGh]

We actually are giving up 12 states to pay off the debts.

Jokes on China, cuz nobody gives a fuck about the Dakotas.
Plus, we got 2 of em.

 

[keco52]

^lmao

 

[Flipmo]

India > China

Agreed to the extent that unlike China, India are not total fucking psychos... unless Pakistan is involved lol

 

[S O F I]

^Except that they beat their HR managers to death when they don't get a pay raise.

 

[Flipmo]

Hey, people gotta get paid.

 

[Duke]

Fuck both India and China. Damn Zergers.

 

[Casey]

India and China should team up, we got half the population of the whole planet between us.

 

[Sebastian]

Yeah, and most of them are stone broke.

 

[Casey]

Yeah, and most of them are stone broke.

so? strength in numbers my man. i sho nuff wouldn't fuck with an army of millions, no matter how much they got in they wallets.

way to miss the point.

 

[ill-matic]

so? strength in numbers my man. i sho nuff wouldn't fuck with an army of millions, no matter how much they got in they wallets.

way to miss the point.

exactly...

it's only a matter of time before these two nations overpower the US in terms of economic stature. Moreso China.. India will take a lot longer once the excessive corruption subsides and some real progress initiatives are made.

for SOFI : no I didnt happen to catch the Michael Moore doco..and not sure I really want to.

My main point was in indicating that America's financial future is heavily reliant on China..and this virtually leaves their fate in the hands of China.

Their debt is out of this world, and to pay it off they may have to "print more money" which would ultimately flood the market, drive up inflation etc etc

 

[Duke]

Economies overheat as quick as they rise.

 

[S O F I]

But my point is that although that may be the case, it is in China's benefit that America's financial future is prosperous.

If pay-as-you-go gets passed and the US manages to get health care spending under control, I think we'll be alright.

 

[Duke]

But my point is that although that may be the case, it is in China's benefit that America's financial future is prosperous.

Exactly. What's China as a nation gonna do? Roll in their T-72's and try to take their whatever-they-pay-with-in-China's back?

 

[Da_Funk]

so? strength in numbers my man. i sho nuff wouldn't fuck with an army of millions, no matter how much they got in they wallets.

way to miss the point.

Well if people still fought with sticks, I'd agree.


In the age of carpet bombing and bunker busters, not so much.