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Comments:
<0> and would literally get blown apart
<0> its awesome history
<1> wow. for 55 years the US has defended iceland, and now we're going to withdraw the Iceland Defense Force in Sep 2006
<0> awesome
<2> Good
<2> they are ***holes to us
<0> Itsasecret, they have Bobby Fischer the chess champ
<3> How is it that self described conservatives on this channel seem to believe the government is incapable of providing food stamps and disaster relief in a competent manner, yet is somehow eminently qualified to effect regional ideological and political change half way around the world? IT's just absurd that something vastly more complex and expensive is easier. It's backwards.
<0> he can save them!
<1> "On March 15th, 2006 the United States Amb***ador to Iceland announced the decision of the United States to withdraw the Iceland Defense Force before the end of September 2006." <-- what prompted that?
<2> Bobby Fisher
<2> jk
<0> actually i have seen alot of icelanders come in here and spout off against USA pressence
<0> so
<0> we will leave
<4> agreed ajofi
<4> excellent point
<0> Go Rush Go!
<2> ajoifi: I'm not one of those...but that is a good point
<0> Rush is speaking!
<2> I checked
<2> you liar
<0> dude you know what Rush is doing today?
<2> LOL
<0> 444444444
<2> I love golf
<3> $1 trillion in debt in 224 years,and under Bush it as been $1 trillion alone.
<5> ajofi well, it's not a fair comparison though... the military is executing that change abroad... the militar is not in charge of EBT cards :)
<0> dude today is beautiful for it
<3> Of FOREIGN debt.
<0> in 3 days i will be sitting creek side catching trout
<2> 426Hemi: oh yeah...it's like 76 down in Georgia
<0> HUGGGGEEEEEe trout
<4> 3 points for ajofi
<5> the amount of national debt is useless as a stand-alone number
<4> swish
<4> count it
<6> ajofi..and the interest on this debt is...?
<3> The foreign debt under Bush has been doubled according to the U.S. Treasury.
<0> i keep the fish i catch on the first day of the year
<5> however, the Debt:GDP is getting worse; not not nearly so bad as it was after WW2
<0> the rest of the year i let them go
<3> kobushi: The amount held by foreign countries is not useless.
<2> bellhaven: how much was the dollar worth 150 years ago
<2> nothing
<5> ajofi it is if you give it no reference
<0> i only keep last years fish too
<2> I mean 70 years agho
<3> publius: It was worth whatever amount of gold or silver it contained.
<3> Because it was made with gold or silver.
<0> the stockies have stupid *** broken up fins nad stuff
<3> Today we are off the gold standard. It's a fiat dollar.
<2> yep
<0> nicks all over their bodies and stuff
<0> you can easily tell the difference
<5> ajofi just like personal debt... Person A may owe $1million, and person B may only owe $10000... but there is no way to know who is actually in a worse situation looking only at thier total debt
<3> Even 70 years ago the dollar had value.
<0> uhh
<0> the dollar doesn't have value now?
<2> ajoifi: do you know how much China owns of our debt
<0> since when?
<5> `426Hemi no, not any real value
<2> I mean they purchase our debt
<0> the dollar has far more value than any other currency thats worth trading in
<3> kobushi: I'm not looking at the total debt in isolation for one. I'm looking at the Foreign holdings of debt.
<0> its that simple
<5> `426Hemi not as much as the british pound
<3> publius: It's around $400 billion I think. They're the 2nd largest holder. Japan in the first.
<0> George Soros got owned on the dollar
<0> OWNED
<0> he got ****ed bad
<2> ajoif: we don't OWE that to them because they have purchased it
<5> ajofi sure, but you still need to consider the GDP
<0> he tried to destabilize the dollar during the '04 elections
<0> hahahah
<6> What will happen when the world trades oil in euro's?
<3> publius: We do owe that do them. That's how treasury securities work.
<7> you mean there is actually someone stupid enough to bet on $?
<0> Bush said NO way... our policy is to make it crash if you **** with us
<8> 1 dollar 70 cence to every 1 pound is about the going rate these days.
<4> hey why do you have a ` in front of your nick `426Hemi
<0> Bush is evening the problem with China
<2> ajofi: yeah but it is set up that way for that debt to not harm our economy
<2> it isn't out of hand right now
<0> China is going to belly up if we go belly up
<3> publius: We sold them ~$400 billion in securities, we got dollars. Now we have to pay them that money back *and* we have to pay them interest.
<0> it is in their best interest not to **** with th eusa
<0> if USA goes under China is screwed
<3> publius: How do you suppose it is good for our economy to be sending interest payments to China?
<2> ajofi: hehe, you know how much they owe to us?
<2> financially and just in general
<3> 425: perhaps today :)
<4> he got you there Publius
<2> no he didn't
<2> you don't get how it works
<3> publius: On paper they don't owe us anything.
<0> ajofi, until China floats
<0> it will suffer
<3> 426: 10,000 per day enter the middle cl***.
<0> if we crash it will be china's fault
<6> Did you ever notice how many things are made in China when you shop?
<0> and they will suffer
<9> im marrying a girl for her english citizenship
<2> smart
<2> lol
<3> China will be top dog soon.
<2> pahahahaha
<0> no it won't
<0> in fact....
<3> It will. Just a matter of time.
<5> But I agree within the next 20-30 years the US will need to begin to pay down the debt; unless GDP can be radically improved further... but I think US GDP will reach a platue within that timeframe
<2> ajofi: just watch the big ole tariff we slap on them this year
<3> All those people buying goods and services in their own country. they will be self sufficient.
<9> i notice how many CRAPPY things are made in china
<5> especially as energy becomes more of an issue/exspense
<0> China's GDP is accurately predicted to fall in 2007-2008 by a tragic 8-15%
<0> thats HUGE
<9> yeah china doesnt have a generally accepted account standard
<0> China is a failing economy
<3> publius: What tariff? That would be a violation of our various trade agreements with them including the most favored nation status they hold.
<9> alot of thier economy is fluff
<5> China has many domstic problems it is ging to have to contend with in the next 15-20 years that pale in comparson to the US's ecnomic status
<5> er.. other way around :)
<2> ajofi: it has already been proposed in the house. we can re work our trade agreement any day we want because we hold the advantage in trade
<5> the 1-child generation will soon become the primary workforce
<9> it also doenst have laws that protect intellectual property adequately. for example, motorola no longer does R and D in china
<0> the biggest problem in china is the "rich/poor" ratio
<9> they are having growing pains
<5> the 1-child generation will cause many problems for China's government; that's my prediction
<3> If China's economy dwindles, their ability to buy U.S. treasury securities goes down. Which means we will either have to raise interest rates considerably, and/or we will have to tighten the spending.
<0> when you have a billion people that live beneath the poverty line and 300-600 million that don't
<3> either way it is not sustainable
<0> it ends up being a problem
<0> a very huge pronounced problem
<2> 426Hemi: it's the other way around
<0> LET FREEDOM RING!
<0> no its not
<2> but the poverty line is like 5,000 under
<2> yes it is
<0> China has about 1.6 billion people
<5> ajofi no, I don't think anyone believes that deficit spending is indefinately sustainable... but natinoal debt, just like persona debt, is a usefl and important tool
<2> a billion are over
<0> 1 billion live like ****
<0> 600 million are rich as ****
<2> but they don't technically
<10> is Bush going to liberate china now?
<0> yes they do hahahhaa
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