The US national debt

no it is not easy its simple. the 2 concepts have a tendency to be conflated but they are not the same.

 

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We export our inflation to China. The Chinese export to us TVs, PCs, iPhones and other goods we don't make, seems like a good deal until they stop exporting and take care of their inflation problem by buying their own goods.

 

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As far as I am concerned, for whatever reasons, the USA is has been going in the wrong direction for over 30 years. The fact that we bailed out Banksters who ripped us off says to me they own the Government (as in they have accrued the power to pay for and buy as many Bush II's and Obama I's as they'll ever need). It's game over for us. They won. We lost. Now we just wait for the entire house of cards to fall.

 

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It is the price China pays for manipulating it's currency. It has more to do with China than it does with the US. If China were to stop manipulating it's currency the value of the Yuan would rise and the value of other currencies would decrease - including the Dollar which would make goods produce in places like the US more competitive against goods produced in China.

That would means China would loose it's trade advantage which it is not willing to do.

 

I will agree the US has been going in the wrong direction for a long time. We have been exporting our pollution and our employment overseas for decades as you have said.

Additionally, the deregulation of the last two decades set us up for the Great Recession of 2007-2008. And this deregulation was the result of special interest money at work in our government.

The excessive spending of the last decade was in no small part done to put money in the pocket of special interests (e.g. military industrial complex, drug companies, healthcare companies, etc.) at the expense of the tax payer. Republicans offered up the public coffers to the highest bidders. And it was and remains a damn shame.

They did win and we the American citizen did loose. But I am not willing to accept that the game is over. I still hope that change in Washington is still possible. And despite the stupid actions of the American people this last decade, I still hope we will find our way.

 

Joe, I will make it easy for you, since it is your birthday today (because I say so). Since our conversation was mostly about offtopic and not so relevant stuff, I will give you that you were right on every account!

After all, it is birthday, right? I don't think there is any point in continuing it, so you can concentrate more on other things.

But just to point out how well you can read, there is a huge difference between:

We are running out (I said that, present tense)
We have ran out (you missread that)

Now go and have your cake!

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Ok Syzygys, you are a good person. I don't care what Michael says about you.

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p/s Michael did not say anything...it is an old habit I inherited from an Ex girl friend.

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