[Mase]

LOL Bring on those 850 billion dollar trade deficits, BABY!!!! Do you run up your credit cards in a similar way?

Maybe you can finally explain to jveritas and me how a trade deficit creates debt. If I buy a DVD player made in Japan at Best Buy with cash, I am contributing to the current account deficit but no debt is being created for anyone involved. If I charge it on my Citibank Visa card, don't I owe that money to Citibank and not Japan? Didn't Citibank lend it to me?

A serious industrialized nation doesn't do this. Japan doesn't do this nor does Germany.

LOL. Japan's external debt is 170% of their annual GDP - almost three times more than ours. Germany has no GDP growth and 12% unemployment. Whatever are you talking about?

[jveritas]

Yep 12% unemployment rate is so great as long as we export more than import. Lower standards of living is great as long as we export more than import. A GDP growth of 0.5% is great as long as export more than import. Buying things with higher cost is great as long as we export more than import. Being taxed more is great as long as export more than import. LOL... :) As I said before facts means absolutely nothing to some people, it is just about emotions.

[jveritas]

I think dennis forgot to mention France as the ideal model for economic prosperity :)

[dennisw]

You asked the same dumb question a few weeks back. http://www.freerepublic.com/focus/f-news/1650471/posts#24

My answer is on that thread

[dennisw]

LOL. Japan's external debt is 170% of their annual GDP - almost three times more than ours. 

You are way off. Japan has a trade surplus every year with USA each year and a trade surplus with all it's other trade partners lumped together

BBC News | The Economy | Record trade surplus for Japan

Japan reports a record trade surplus for 1998, leading to fears of growing trade tensions with the rest of the world.
news.bbc.co.uk/1/hi/business/the_economy/262374.stm - 22k - Cached - Similar pages

BBC NEWS | Business | Japan's trade surplus grows

Japan's annual trade surplus grew by 7.3% in July, as brisk exports to Asia offset sluggish demand in the United States, official figures say.
news.bbc.co.uk/1/hi/business/3178709.stm - 31k - Cached - Similar pages
[ More results from news.bbc.co.uk ]

Trade Surplus - Explore Japan - Kids Web Japan - Web Japan

From around the middle of the 1970s, Japan began to develop chronic trade surpluses as exports outstripped imports. The trade surplus, which reached its ...
web-japan.org/kidsweb/japan/economy/q3.html - 4k - Cached - Similar pages