USA debt not that bad..

[icm63]

Depending on who you talk to..

USA owes now $14T in hard paper, and another $50T in liabilities (medicare, etc ??)

So what can USA do to pay off this that other indebted countries have done..

1) National GST/VAT at 2% - 5%
2) Sell the Grand Canyon
3) Sell Ohio
4) Sell Hawaii
5) Sell streets in New York, I mean 5th Ave, could be Toyota Str.


I mean the UK have done all this, there the ones in the real POOP as they dont have much to sell and already have VAT at 17%, but USA can sell heaps

Keep smiling USA

[ThePythonicCow]

Re: USA debt not that bad..

Depending on who you talk to..

USA owns now $14T in hard paper, and another $50T in liabilities (medicare, etc ??)

"owns" or "owes" ?

[GRG55]

Re: USA debt not that bad..

Depending on who you talk to..

USA owns now $14T in hard paper, and another $50T in liabilities (medicare, etc ??)

So what can USA do to pay off this that other indebted countries have done..

1) National GST/VAT at 2% - 5%
2) Sell the Grand Canyon
3) Sell Ohio
4) Sell Hawaii
5) Sell streets in New York, I mean 5th Ave, could be Toyota Str.


I mean the UK have done all this, there the ones in the real POOP as they dont have much to sell and already have VAT at 17%, but USA can sell heaps

Keep smiling USA

You forgot to mention selling the Brooklyn Bridge...:rolleyes:

[DRumsfeld2000]

Re: USA debt not that bad..

Not that bad-really????

Read these, especially the last one as it details $118trl of liabilities:-

http://ndainfo.wordpress.com/2009/09...as-of-q1-2009/

http://www.telegraph.co.uk/finance/f...ing-money.html

http://www.bloomberg.com/apps/news?p...d=aJ6jnKWHrQgI


http://www.sprott.com/Docs/Marketsat...09_09_MAAG.pdf

[we_are_toast]

Re: USA debt not that bad..

You forgot to mention selling the Brooklyn Bridge...:rolleyes:

How about, selling our hockey teams back to Canada, Eh?

[Fiat Currency]

Re: USA debt not that bad..

Not that bad-really????

Or try this ... :eek:

http://usdebtclock.org/

... for real-time shock-value.

[icm63]

Re: USA debt not that bad..

Sell Texas back to Mexico...I meant who wants Texas.

Sell Alaska back to the Russians..

There you go $118T raised over night...

[goadam1]

Re: USA debt not that bad..

Sell Taiwan to China. Make our Hessian Army official and charge a fee on top of buying our bonds.

[don]

Re: USA debt not that bad..

When massive deficit spending reaches the real economy....

Explosions of Light
http://science.nasa.gov/headlines/y2....htm?list10390

[Kadriana]

Re: USA debt not that bad..

How about, selling our hockey teams back to Canada, Eh?

Well, we're already selling our basketball teams to China.

[ASH]

Re: USA debt not that bad..

Sell Taiwan to China. Make our Hessian Army official and charge a fee on top of buying our bonds.

Don't want to get involved in land operations, but charging a modest fee for the use of our oceans might be more feasible. It's dangerous to operate in littoral areas, but there's a fair amount of commerce that has to cross blue water, and we have a significantly better blue water navy than anyone else.

[CanuckinTX]

Re: USA debt not that bad..

Sell Texas back to Mexico...I meant who wants Texas.

Why would Mexico pay for it? They're taking Texas and California over slowly city block by city block.

As for the hockey teams, a Canuck already tried to buy Phoenix and repatriate the team but the geniuses that own the other teams don't want to harm the 200 poor fans in Glendale, AZ who might actually care if the team left.

[icm63]

Re: USA debt not that bad..

Here are some investment Ideas for USA to create JOBS and INCOME..
PalmJebelAli.jpg
UnitedArabEmiratesBeforeAndAfter.jpg
WorldIslandsDubai.jpg

[goodrich4bk]

Re: USA debt not that bad..

[QUOTE=icm63;139647]Depending on who you talk to..

USA owes now $14T in hard paper, and another $50T in liabilities (medicare, etc ??)

:confused: Since when did medicare and social security become a liability? If they run out of money, benefits are cut. Problem solved. Or do you somehow believe that Congress in 2009 has the power of 2050's purse?

Last time I checked, the only way that happens is to issue a Treasury bond, and although there are far too many of those around for my taste, you know damned well there are not $50T of them.

[ASH]

Re: USA debt not that bad..

:confused: Since when did medicare and social security become a liability? If they run out of money, benefits are cut. Problem solved. Or do you somehow believe that Congress in 2009 has the power of 2050's purse?

Last time I checked, the only way that happens is to issue a Treasury bond, and although there are far too many of those around for my taste, you know damned well there are not $50T of them.

You are quite right that laws can be changed. Also, $50T (or whatever) is the cumulative funding gap spread over the span of many years. It isn't a number to be compared to a single year's GDP, or other annual measure. However, it is legitimate to project the unfunded obligation under current law to demonstrate that law is likely to be changed.

For that matter, a good chunk of the Treasury bonds presently issued are of the non-marketable government account series variety. I would argue that a debt you owe to yourself is more easily discharged than debts owed to other parties.

On the other hand, benefits aren't cut immediately. Initially, deficit spending increases. I don't think the problem will be 'solved' by cutting benefits before we dig a very deep hole. At that point, a lot of the liability WILL be in the form of Treasury bonds held by other parties -- and the amount will be large, even if it's not $50T.