So We Think Argentina Is A Mess?

[toongeorges]

https://www.cia.gov/...r/2187rank.html

If we either kick France or the UK out of the EU, the EU has a positive trade balance ;-)

 

[EricLovesBA]

...the US exports its inflation to other central banks who store dollars as their reserves, creating an artifical demand.

So true. This reminds me of the 2006 era "Peter Schiff was right" videos, especially the part of Peter Schiff vs Arthur Laffer.

***

Schiff: The problem is we're not selling [India and China] products, they're making products and sending them here.
Laffer: We're outsourcing Alan Greenspan and Ben Bernanke to them. That's why they're holding those dollars. It's not as a favor to us!
Peter: Well sure it is. Look, we're running $60B a month trade deficits that means that the world is providing us with $60B more goods and services than we can afford to pay for.
Laffer: Peter that's not true. No listen Peter for one second. They are holding deposits in the US not as a favor to us because they like holding them there. We are outsourcing our monetary policy to China and to the rest of the world, and they're paying us Huge amounts of seigniorage gain for the act of providing them with a banking system and monetary policy. It's called seigniorage gain, gosh [shakes head like Peter is an idiot who doesn't understand what seigniorage is].
...
Laffer: We ran trade deficits from 1640 till 1870, 230 years of trade deficits and we built our country on foreign capital.
Schiff: Art, you're missing the most important aspect. Back then, we borrowed to build factories, to build infrastructure, we were borrowing to produce. Now we're borrowing to remodel our kitchens, to buy big screen TVs, to take vacations.
***

During the whole debate, Peter is predicting with great detail the housing bubble burst while Laffer, former economic advisor to Regan, is saying the economy is perfectly fine. The part that really gets me is I don't think Laffer is lying. I think he actually believes this chin-deep line of bull he's shoveling out about the US dollar and the banking sector providing a valuable service to all the nations who are actually producing all the things we consume. I really don't get how the fantasy of the US economy continues, except to the extent that the petrodollar is enforced at the barrel of very big gun and the complicity of all the corrupt puppet governments that big money can buy.

 

[Dipoots]

WTFish

 

[sleslie23]

If we either kick France or the UK out of the EU, the EU has a positive trade balance ;-)

Then who would help you fund the rest of the EU?

I didn't look at all the EU countries, but it seemed like only Germany and some of the Scandinavian countries had surpluses.

 

[JamJam]

If we either kick France or the UK out of the EU, the EU has a positive trade balance ;-)

And loose the biggest financial centre in the world...

 

[Jibaro 1]

It is all a big conspiracy , to start war and the end of the civilized world as we know it , but who si behind it

 

[Dublin2BuenosAires]

It is all a big conspiracy , to start war and the end of the civilized world as we know it , but who si behind it

Me, I suppose I should own up now really as I have been a bit sloppy in my nefarious planning recently.

I'd say I will have another crack at it next month though, all being well.

 

[Lamb]

you are 100% correct and most ppl will glance over your comment because they do not fully understand what it means to have the world's reserve currency. it means that the US has lived off the backs of slave labor in order to enjoy cheap goods for decades. the US exports its inflation to other central banks who store dollars as their reserves, creating an artifical demand.

the US prints from nothing what every other country in the world needs to compete in order to obtain to buy not only energy but every commodity in the world. and they back it up with an annual military budget of $1 trillion, more money than all other nations on earth combined. try selling your oil in euros or any other non dollar denominated currency and you will be ousted as a leader. just ask sadam husein.

getting back to the cia fact book, this explains why the US has the largest account deficit.

http://www.ambito.com/noticia.asp?id=681348

dumdumdumdummmm

 

[John.St]

Look at the last country on the list..

https://www.cia.gov/...r/2187rank.html

Populism VS Destructionism.

Being German that list makes perfect sense to me but then again I really do believe genetics are everything.

Sure, having a large population does mean a large balance.

Now let's look at per capita:

Norway: ..... Population: ... 4722701 account balance:. $ 76100000000 = 16 113 /person
Saudi Arabia: Population: .. 26939583 account balance: $ 150000000000 == 5 568/person
Sweden: ..... Population: ... 9119423 account balance:. $ 37560000000 == 4 118 /person
Denmark: .... Population: ... 5556452 account balance:. $ 18600000000 == 3 347/person
Germany: .... Population: .. 81147265 account balance: $ 208100000000 == 2 564 /person
Japan: ...... Population: . 127253075 account balance:. $ 84700000000 ==== 665/person
Russia: ..... Population: . 142500482 account balance:. $ 85060000000 ==== 596/person
China: ...... Population:. 1349585838 account balance: $ 170800000000 ==== 126/person
India: ...... Population:. 1220800359 account balance: $ -80150000000 ==== -65/person
USA: ........ Population:.. 316668567 account balance:$ -487200000000 = -1 538/person

 

[vagabundo]

Genetics are everything, everywhere.. All that matters in my life are genetics. I spend all my possible time on genetics.

Given your profile photo.. I think your post is a good starting point.