USA 15 trillion sovrign debt and 1.5trillion deficit
Discussion
Been checking this out and Obama is proposing a 400billion deficit reduction by 2020...
Question is at what value will the USA find it difficult to raise funds on the open Market and require IMF bailout? I'm also assuming only china could bail out the USA.
It's just totally insane they have no objective even long term to have zero structual debt all they are attemptiing to do is reduce deficit. The thing is interest payments will just grow and grow and for the uk interest payments are currently greater than the miltary defence budget and similar to the education budget. Just when will the lefties realise that by debt reduction it will mean that they can then spend more on front line services sadly they just look very short term and for some bizarre reason they cannot see the bigger picture.
I wonder how much Greece want for one of their tiny islands which if I had enough wedge I'd buy then become the republic of welshbeef. No taxes no state aid nothing.
Question is at what value will the USA find it difficult to raise funds on the open Market and require IMF bailout? I'm also assuming only china could bail out the USA.
It's just totally insane they have no objective even long term to have zero structual debt all they are attemptiing to do is reduce deficit. The thing is interest payments will just grow and grow and for the uk interest payments are currently greater than the miltary defence budget and similar to the education budget. Just when will the lefties realise that by debt reduction it will mean that they can then spend more on front line services sadly they just look very short term and for some bizarre reason they cannot see the bigger picture.
I wonder how much Greece want for one of their tiny islands which if I had enough wedge I'd buy then become the republic of welshbeef. No taxes no state aid nothing.
Welshbeef said:
It's just totally insane they have no objective even long term to have zero structual debt all they are attemptiing to do is reduce deficit. The thing is interest payments will just grow and grow and for the uk interest payments are currently greater than the miltary defence budget and similar to the education budget.
Erm, that's also the policy over here. Listen to the language - it's all about deficit reduction rather than debt reduction. dxg said:
Welshbeef said:
It's just totally insane they have no objective even long term to have zero structual debt all they are attemptiing to do is reduce deficit. The thing is interest payments will just grow and grow and for the uk interest payments are currently greater than the miltary defence budget and similar to the education budget.
Erm, that's also the policy over here. Listen to the language - it's all about deficit reduction rather than debt reduction. 
Hoping the future will be more prosperous as though it's some kind of natural law.I'll bet my pension the US looks here last:
http://en.wikipedia.org/wiki/Military_budget_of_th...
dxg said:
Welshbeef said:
It's just totally insane they have no objective even long term to have zero structual debt all they are attemptiing to do is reduce deficit. The thing is interest payments will just grow and grow and for the uk interest payments are currently greater than the miltary defence budget and similar to the education budget.
Erm, that's also the policy over here. Listen to the language - it's all about deficit reduction rather than debt reduction. And for the uk it doesn't include the state pension deficit and pfi off balancesheet.
I fully appreciate why govts will have debt as say they have a major infrastructure investment which will yeild higher tax returns over say a twenty year period. I guess for the uk selling our stakes in the banks will drastically reduce our structual debt? Anyone know how much we paid for northern rock b&b rbs and lloyds.
I fully appreciate why govts will have debt as say they have a major infrastructure investment which will yeild higher tax returns over say a twenty year period. I guess for the uk selling our stakes in the banks will drastically reduce our structual debt? Anyone know how much we paid for northern rock b&b rbs and lloyds.
Welshbeef said:
And for the uk it doesn't include the state pension deficit and pfi off balancesheet.
I fully appreciate why govts will have debt as say they have a major infrastructure investment which will yeild higher tax returns over say a twenty year period. I guess for the uk selling our stakes in the banks will drastically reduce our structual debt? Anyone know how much we paid for northern rock b&b rbs and lloyds.
It won’t even touch the sides I fully appreciate why govts will have debt as say they have a major infrastructure investment which will yeild higher tax returns over say a twenty year period. I guess for the uk selling our stakes in the banks will drastically reduce our structual debt? Anyone know how much we paid for northern rock b&b rbs and lloyds.
last sensible figure was less than £20billion and if sold off we may just make a small profit (if its handled properly) or more likely break evenThis is of course all thanks to a certain outpatient of the Edinburgh Royal Infirmary nut hutch,
We currently spend over £170,000,000,000.00 more than the government takes off the population via taxation each year.
Look at all the noise being made over proposed budget cuts of 5-10% of that amount and imagine what they'd be if it was for the whole £170B per year.
As has already been said, that £170B per year is only the debt on the balance sheet, think how much more it’s going to hurt when we’re paying through the nose for all the lovely new stuff labour "built" through PFI, using their wonderful negotiation techniques (cost of hospital =x, repayment via PFI over 10 years = 300% of X), there’s also a huge number light bulbs that will be changed each year at £100 a go thanks to the maintenance contracts they’ve signed to go with the PFI deals
Well with Greece Ireland and portugal - china have been instrumental in buying up vast amount of the debt. Likewise China are one of the majority holders of USA debt.
Thing is I guess china realise that for the medium term they need the western economies to continue to buy their output. But once India Russia and china themselves are big enought USA uk and Europe will just not figure on the global economic stage. They will be crippled for generations paying off the debt owed to china at x% rate. Power is shifting east so quickly we need to be very afraid - not of Muslims and middle east but further east. That's the future.
Thing is I guess china realise that for the medium term they need the western economies to continue to buy their output. But once India Russia and china themselves are big enought USA uk and Europe will just not figure on the global economic stage. They will be crippled for generations paying off the debt owed to china at x% rate. Power is shifting east so quickly we need to be very afraid - not of Muslims and middle east but further east. That's the future.
glazbagun said:
Hoping the future will be more prosperous as though it's some kind of natural law.I'll bet my pension the US looks here last:
http://en.wikipedia.org/wiki/Military_budget_of_th...
Don't bet it yet...
anonymous said:
[redacted]
I'd say there may be a move by some lenders to require the debt to be at gold prices thus avoiding such issues. I'd say it would only take so much before it changes. I mean the euro cannot devalue if one state say Greece are up the kyber so the debt stays the same.
ErnestM said:
am I correct in saying the fed = bank of England as such why don't all countries go to their own fed equivalent ?Welshbeef said:
ErnestM said:
am I correct in saying the fed = bank of England as such why don't all countries go to their own fed equivalent ?By the way - the US is still the world leader in Gold reserves for an individual country too IIRC
http://www.cnbc.com/id/33242464/The_World_s_Bigges...
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