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THE CHATTER BOX

 
  
  
  The Chatter Box : Blathering On
  
  
  
 
US debt over $35 000.00 per US citizen. by Lounge Trekker on 25 March 2009 4:15am
 
Yeesh. Buy buy buy. Maybe the federal administration can borrow your way out of debt. How many American Yuan in a Chinese Yuan?

Blank Chequer
 
Re: US debt over $35 000.00 per US citizen. by tucsonmike on 25 March 2009 12:03pm
 
I know this was on BBC America last night. The U.S. has been like a junkie, with China supplying the drug (quick and easy loans). China controls 2/3 of the U.S. currency reserves.
Canada has not had to have any bailouts etc. Nuff said.
 
Re: Canadian debt over $17 000.00 per Canadian. by Lounge Trekker on 25 March 2009 2:11pm
 
This is very alarming. Asia, China, will always lend US money because they need a market for the goods they produce. Just like a private individual who borrows too much, a nation may face the issue of their loans being called in. This does not look well for us in the west.

Banking regulations seem to have protected the banks here in Canada, and private deposits are also protected. Banks still make huge profits in Canada. The auto companies have layed off many people and the government has promised some help, but only when they've (companies and union) shown a viable plan.

There are still many people selling their houses but these are guys that bought more than their future incomes could support. There was a loose 'rule' that you couldn't borrow a mortgage resulting in more than 65% of your income being used to pay on the principal and interest. It seems some people were able to get around this and some of these people got themselves in trouble.

I think Obama is smiling while further jeopardizing America's future. Tighten our belts. Drive less because the car we have will need to run a few years longer. Travel less. Purchases of new things will have to wait. Eat out less often. It is a reality we all hoped we would never have to face.

Pete
 
Re: US debt over $35 000.00 per US citizen. by canaveralgumby on 25 March 2009 3:57pm
 
I don't want to get into an argument here, especially not with my 2 fav Palinite guys, but I'm just throwing this out for consideration. Maybe NOW is NOT the time to be concerned with the DEBT? That's for a LITTLE later? Possibly even just a few years from now, we can work on the debt, when things are normalized for individuals, localities, and the federal gov't.

And blaming Obama for the deep debt is kind of blaming the wrong president (administration). Just a thought.
 
Re: US debt over $35 000.00 per US citizen. by mrsthing on 25 March 2009 7:25pm
 
Cori's right--this all started in the Reagan administration, and probably even before that. But Reagan certainly contributed heavily to the problems we're facing now. Clinton straightened things out, then Bush 43 screwed it up royally again.

Obama is screwed no matter what he does. It seems this is the only way to go, and have our children and grandchildren pay it back in their taxes. And hopefully, we've learned our lesson, but probably not.
 
Re: US debt over $35 000.00 per US citizen. by Lounge Trekker on 26 March 2009 4:04am
 
Of course we can't blame Barrack Obama. He's just trying to juggle five balls with a few running chainsaws thrown in, and look good enough doing it to get re-elected.

It's just too difficult for me to sit without making some smart-*** remark. Did I tell you about my typing abilities? I type 50 words per minute...but I can only think at 20!

It just seemed outrageous the way it was presented. Of course we aren't all saddled with our piece of national debt! Thinking of it in this context does make it seem a little more real than 15 or 20 digit dollar values...

Lounge Pacifier
 
Re: US debt over $35 000.00 per US citizen. by bIG bLOGGER on 26 March 2009 2:51pm
 
Yesterday I went into my local bank just to enquire exactly how much a 'trillion' dollars was???
($1,000,000,000,000;--viz,12 zeros)
The cashier said to me:
"Are you withdrawing,Sir,or are you going to make a deposit??"
 



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