Posted on 07/05/2006 7:33:33 PM PDT by Halfmanhalfamazing
CNN Show Host Lou Dobbs brings us a segment on a proposed "North American Union"
"This is not a conspiracy. This is a fact."
And don't be fooled by those who constantly harass, namecall, and pretend to disagree. Read between the lines. What they disagree with is ANY criticism of Bush, NOT Bush's Open Borders agenda and NAU/SPP.
Trade surpluses and deficits have plenty to do with external debt. I'm probably wrong that they alone determine external debt. Japan always runs trade surpluses. How do you account for Japan's 1.6 trillion external debt?? (CIA)
The Japanese government borrowed and spent more money than they took in. They did this even though private Japanese companies and citizens sold more goods to the rest of the world than they bought from the rest of the world.
Got it?
American Progress Staff
Senior Staff
• John Podesta President and Chief Executive Officer
I can only guess that the CIA is including foreigners buying debt issued by Japan's central government
Yeah, that'd be external debt.
Maybe dennisw will also prove to us, finally, how a trade deficit causes debt by refuting what Don Boudreaux wrote in post #47.
Perhaps he can do it without linking us to groups like Center for American progress. Too funny!
You're absolutely right. Cognitive dissonance at its finest.
Clown. You are bringing up the rear. I mentioned in post #58 that Japan's external debt was something I did not expect but could be chalked up to Japan's government debt being bought by foreigners.
Japan has a trade surplus and some of their debt is still owned by foreigners? I thought that was impossible?
I am glad that you finally admitted you were wrong.
External debt is the sum total of nation's trade deficits. Japan does not have an external debt.
That was funny!
I just re-read that piece since it's your holy grail. It is sick, vile, one-worlder babble. If I have time later I'll explain why. Maybe. I just have a different concept of America in this world than you & Boudreau do
Japan has a trade surplus and some of their debt is still owned by foreigners? I thought that was impossible?
I am glad that you finally admitted you were wrong.
I was wrong about Japan. They still run a trade surplus the way a serious industrialized nation does. The way we used to. Now we whip out the charge card to buy hundreds of billions of dollars worth of foreign goods and that won't last forever
That was funny!
Why are you laughing? Are you a clown? Our external debt is much larger on a per capita basis
Yes. And despite the seriousness of their industrialization, our economy has kicked their economy's ass for the last 15 years. How do you explain this disconnect?
Now we whip out the charge card to buy hundreds of billions of dollars worth of foreign goods
You're putting the cart before the horse, again.
Americans buy foreign goods. Foreigners take the cash they receive and either buy American goods, buy American assets (stocks, real estate etc.) or buy American debt. Usually the debt they buy is government debt. Debt issued because the government spent more than it took in.
I almost forgot, they could also take those dollars and put them under their pillows. They could even eat those dollars. Now, if you can, please explain if any, or all, of these options is bad for America and why? Thanks.
and that won't last forever
Never said that it would. What will happen when it ends?
Because you were wrong, the opposite of right.
Our external debt is much larger on a per capita basis
I don't care how big our internal or our external debt is. The important thing is how large our total debt is. Their total debt is 170% of GDP while ours is 64.7% of GDP.
You prefer their debt level to ours? You're making me laugh, again.
I'm not asking you about your world view. That's already established. You're a protectionist who thinks we can't compete. All I'm asking you to do is to explain how the story below creates any debt for anyone involved.
My young son, for example, received for Christmas several Chinese-made toys. These were bought with cash. If the Chinese toymakers invest their newly earned dollars in, say, that factory in Utah, the U.S. trade deficit rises but no debt is created. Neither I nor any other American owes any foreigner anything as a result of my purchase of toys from China and the corresponding Chinese purchase of equity in a company located in America.
I don't see any debt but since you do, please explain to us where the author misses it.
We aren't competing very well when we run up an annual trade defitit of 850 billion. In the past we did copmete very well and were a crediotr nation. This changed.
As of 1997, the United States (US)is a net debtor nation, running a current account deficit. The US has been running current account deficit since 1982, and been net debtor since 1988. In 1980 and 1981, the US was a net international creditor with current account surplus, then became a net creditor with deficit in 1982 through 1987, and since 1988 for ten years, it has been a net debtor with current account deficit.
All I'm asking you to do is to explain how the story below creates any debt for anyone involved.
If no debt is created what do you call "external debt" which you have cited a few times
He's full of shit and I gotta go. Later
Run away! Run away!
It's just a flesh wound!
He did say that Boudreaux's article was my Holy Grail. LOL
"Look, you stupid **stard. You've got no arms left."
"Come back here and take what's coming to you! I'll bite your legs off!"
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