Worldwide mountains of debt... - PeachParts Mercedes-Benz Forum

MTUpower · #1 12-01-2009, 04:14 PM

Why do you think this is happening and what the decisions in play that cause this? Are governments biting off more than they can chew?

#2 12-01-2009, 04:39 PM

Those numbers are crazy, by comparison the U.S. debt is low (I think its around 40% of GDP). This is probably one of the reasons the dollar is relatively strong these days.

pj67coll · #3 12-01-2009, 04:51 PM

What it means is that people everywhere, are greedy, lazy and stupid and simply refuse to live within their means.

- Peter.

MTUpower · #4 12-01-2009, 06:34 PM

Quote:

Originally Posted by Craig

Those numbers are crazy, by comparison the U.S. debt is low (I think its around 40% of GDP). This is probably one of the reasons the dollar is relatively strong these days.

Why is the debt higher in other countries?

Hatterasguy · #5 12-01-2009, 07:03 PM

Quote:

Originally Posted by pj67coll

What it means is that people everywhere, are greedy, lazy and stupid and simply refuse to live within their means.

- Peter.

Yep. Also Europe is slowly drowning to death in a sea of socialized apathy.

strelnik · #6 12-01-2009, 07:04 PM

Quote:

Originally Posted by MTUpower

Why do you think this is happening and what the decisions in play that cause this? Are governments biting off more than they can chew?

The Federal government today forgave 25 BILLION in debt to AIG. Who do you think will pay for that? US

Hatterasguy · #7 12-01-2009, 07:06 PM

Dubai is about to go bankrupt.

pj67coll · #8 12-01-2009, 07:12 PM

Quote:

Originally Posted by Hatterasguy

Dubai is about to go bankrupt.

Yep. But Dubai was always an artificial bubble dependent on foreign wealth and myopia and so was always going to burst.

- Peter.

MTI · #9 12-01-2009, 07:16 PM

Quote:

Originally Posted by strelnik

The Federal government today forgave 25 BILLION in debt to AIG. Who do you think will pay for that?

Was that $25B a different $25B from AIG's tranfer of preferred stock in two of it's divisions to the Fed? Not quite the same as "forgave" now, is it?

Hatterasguy · #10 12-01-2009, 07:20 PM

Quote:

Originally Posted by pj67coll

Yep. But Dubai was always an artificial bubble dependent on foreign wealth and myopia and so was always going to burst.

- Peter.

True, its only a matter of time before the desert sands cover it up.

MTI · #11 12-01-2009, 07:56 PM

Quote:

Originally Posted by Hatterasguy

True, its only a matter of time before the desert sands cover it up.

That's what they said about Vegas, baby . . .

#12 12-01-2009, 08:03 PM

Quote:

Originally Posted by MTI

That's what they said about Vegas, baby . . .

I don't know what we would do if Carrot Top didn't have a place to perform.

compress ignite · #13 12-01-2009, 08:05 PM

Vegas or Dubai just yet.
(911 killed Vegas,'Just not savvy enough to realize the EKG is "Flat Lined",yet.)
(Now we might just see how much U.A.E. will put "Fraternal Brotherhood" ahead
of Financial Common Sense.)

MTUpower · #14 12-02-2009, 07:03 AM

I think it means revenues are low and expenses keep growing. Expenses are the promises politicians make, and revenues are resistance of people to higher taxes. Expenses are growing at a much faster rate than the people's stomach for higher taxes can handle. Government programs that give folks more "stuff" is the main issue around the world- and one of two issues here in the USA. The other main expense here is the military's commitments.