Anyone else hear this stat?

Discussion in 'Politics' started by Charles_Main, Aug 24, 2011.

  1. Charles_Main
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    Charles_Main AR15 Owner

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    To lazy to look this up. Heard some talking head the other day say that at current spending and Borrowing Levels by 2020 The US Debt held around the world will equal 20% of the Worlds GDP.

    Like I said I have not looked it up to try and confirm it. However if that is true the Tea Party people should buy Full page adds around the nation and TC spots that do nothing but repeat those words over and over.

    At Current Levels US debt held around the world will equal 20% of the Worlds GDP in just 8 short years.

    Just wrap your head around that one.
     
  2. oreo
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    oreo Gold Member Supporting Member

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    I misread your statement--and this is no surprise. The Federal Government is currently borrowing .43 cents on every dollar it spends.

    In fact, the Cut--Cap & Balance bill was in an effort to keep the U.S. from NOT spending more than 18% of GDP. Greece went all the way to 150% of GDP and collapsed.
     
    Last edited: Aug 24, 2011
  3. Charles_Main
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    Charles_Main AR15 Owner

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    I'm not talking about the % of our GDP our Debt is. The Stat I heard was talking about all the Bonds and T Bills held around the world that is our Debt, and stated that by 2020. Those holdings will equal 20% of the entire worlds GDP.
     
    Last edited: Aug 26, 2011
  4. McDowell's
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    McDowell's BANNED

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    Soon we won't need a military. If we're ever attacked, all of our creditors will jump to our defense in order to protect their investments.
     
  5. BoycottTheday
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    BoycottTheday CEO

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    What a great time to devalue the dollar.
     
  6. dblack
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    dblack Gold Member

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    Or will they just be squabbling over repo rights?
     
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  7. McDowell's
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    McDowell's BANNED

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    That's the other way of looking at it. :lol:
     
  8. Missourian
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    Missourian Gold Member

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    I think our debt is around 95% of our own GDP now.

    Wouldn't surprise me a but if it was 20% of world GDP by 2020.

     
    Last edited: Aug 25, 2011
  9. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    Old saying... If you owe the bank $100,000, the bank owns you. If you owe the bank 4 trillion dollars, you own the bank.
     
  10. hellofromwarsaw
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    hellofromwarsaw BANNED

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    Very scary, dupes, way to screw up the recovery. Japan's debt is 270% of gdp...
     

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