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  #1  
Old Feb 23, '12, 10:50 am
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buffalo buffalo is offline
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Default Chart: 'America’s Per Capita Government Debt Worse Than Greece'

Chart: 'America’s Per Capita Government Debt Worse Than Greece'

The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain:



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  #2  
Old Feb 23, '12, 11:10 am
yogicat yogicat is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

I can believe it. I think we're a lot worse of in the states then our politicians and media are allowing the general public to realize.
  #3  
Old Feb 25, '12, 5:07 pm
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InSearchofGrace InSearchofGrace is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by buffalo View Post
Chart: 'America’s Per Capita Government Debt Worse Than Greece'

The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain: ...
I'm not surprised that the U.S. is headed towards the situation that Greece is in. People are rightfully nervous about a second Obama term. Those that are not should be paying attention to his actions, not his words.

The information you provided is consistent with the data from a chart over the last three decades on U.S. spending and revenue that my husband showed me from Tom McLlelan, the editor of The McCllelan's Market Report, which he follows:



Note the direction of the deficit, versus the stated goal by the Obama Administration in February 2009. It is truly a staggering picture. His administration outspent any other, pulling in the lowest receipts, with expenditures and revenue each as percentage of the GDP, during the period in review of 30 years.
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  #4  
Old Feb 25, '12, 7:22 pm
ProVobis ProVobis is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

Quote:
Originally Posted by buffalo View Post
Chart: 'America’s Per Capita Government Debt Worse Than Greece'

The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain:



This will continue as long as the Treasury keeps selling bonds to foreigners and to Bernanke. The money doesn't necessarily get spent either. There's almost $2 Trillion sitting with the 12 Fed banks doing nothing but costing taxpayers interest. Actually the Federal Reserve is holding $6 Trillion of our debt as we speak. Most can't comprehend a billion, much less $18 Trillion.
  #5  
Old Feb 25, '12, 10:12 pm
Bob Crowley Bob Crowley is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

Quote:
Originally Posted by buffalo View Post
Chart: 'America’s Per Capita Government Debt Worse Than Greece'

The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain:



The US GDP per capita is about $48,000.

The Greek GDP per capital is about $27,000.

That's why Greece's debt on a local GDP basis is about 150%, whereas the US debt is about 90%. Neither is good, but it's common right throughout most of the Western world. But ever since the start of the 20th century, the US dollar has been regarded as the benchmark for world finance, as was the British pound before that.

Australia's government debt isn't too bad (by comparison), but our private debt is one of the worst in the world. And our inexplicably high dollar isn't helping either. The only thing that's saving our bacon at the moment is the resources sector.

For a comparison of both national (government) and external (private) debt, the following world debt clock gives some data.

http://www.usdebtclock.org/world-debt-clock.html

Ireland seems to be leading the pack as worst performer, although banana republics like Zimbabwe are not shown.
  #6  
Old Feb 27, '12, 2:43 pm
SamH SamH is offline
 
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by Bob Crowley View Post
The US GDP per capita is about $48,000.

The Greek GDP per capital is about $27,000.

That's why Greece's debt on a local GDP basis is about 150%, whereas the US debt is about 90%. Neither is good, but it's common right throughout most of the Western world. But ever since the start of the 20th century, the US dollar has been regarded as the benchmark for world finance, as was the British pound before that.
Except Obama's budget proposal for next increases the debt per individual by $17,000. In only a a couple more years of the US will be worse off than Greece by any measure.
  #7  
Old Feb 27, '12, 5:34 pm
BobCatholic BobCatholic is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

Understand that the US Dollar is the world's #1 reserve currency.

The rest of the world uses it as foreign exchange reserves.

In effect, our pieces of paper back up their pieces of paper.

We won't and can't hyperinflate out of debt because all new money disappears outside of our borders quickly. In effect, we export our inflation.

The national debt is a form of slavery, it enslaves the nation, a violation of the 13th amendment. But nobody has bothered to sue, so we're screwed.
  #8  
Old Feb 27, '12, 5:39 pm
ProVobis ProVobis is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by Bob Crowley View Post
Australia's government debt isn't too bad (by comparison), but our private debt is one of the worst in the world. And our inexplicably high dollar isn't helping either. The only thing that's saving our bacon at the moment is the resources sector.
Your strong dollar is what's making Australian investments attractive. I've made some myself. I'd brag about them if I were you.
  #9  
Old Feb 28, '12, 1:40 pm
ACCT ACCT is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by BobCatholic View Post
Understand that the US Dollar is the world's #1 reserve currency.

The rest of the world uses it as foreign exchange reserves.

In effect, our pieces of paper back up their pieces of paper.

We won't and can't hyperinflate out of debt because all new money disappears outside of our borders quickly. In effect, we export our inflation.

The national debt is a form of slavery, it enslaves the nation, a violation of the 13th amendment. But nobody has bothered to sue, so we're screwed.
Good comments!

In 1970 I said that the dollar will lose its status as the reserve curreny of the world. We are now at that point in time.

We are far beyond the point of no return. We will never repay the debt. Get as far away from this economy as you can!
  #10  
Old Mar 4, '12, 5:08 pm
BobCatholic BobCatholic is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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In 1970 I said that the dollar will lose its status as the reserve currency of the world.
I don't think so. Read this.

http://en.wikipedia.org/wiki/Triffin_dilemma

Our fiat money backs up their fiat money. The USD is 2/3 of the world's foreign currency reserves. If the USD goes belly up, we will drag the rest of the world with us. If the USD becomes worthless, so will every fiat currency on the planet.

There won't be any place to run.
  #11  
Old Mar 6, '12, 8:49 pm
Bob Crowley Bob Crowley is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by ProVobis View Post
Your strong dollar is what's making Australian investments attractive. I've made some myself. I'd brag about them if I were you.
The reason our dollar is so high is our interest rates are relatively high. European and American banks invest in us to get the much better interest than they can get in their own countries.

This pushes the dollar up, which in turn is killing our manufacturing industry as we can't compete with cheaper foreign goods, and also not doing our agricultural industry much good either, since it makes our food exports expensive.

It's a two edged sword. I think our dollar is vastly overpriced really.
  #12  
Old Mar 8, '12, 6:06 am
ACCT ACCT is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by BobCatholic View Post
I don't think so. Read this.

http://en.wikipedia.org/wiki/Triffin_dilemma

Our fiat money backs up their fiat money. The USD is 2/3 of the world's foreign currency reserves. If the USD goes belly up, we will drag the rest of the world with us. If the USD becomes worthless, so will every fiat currency on the planet.

There won't be any place to run.
That is precisely the problem! That is why we are headed to a new one-world currency, step by step.

If you do not want to continue to lose massive amounts of purchasing power, move your government (central bank) monopoly money to money that God created, gold and silver. Be sure to read "It Ain't Gonna Happen" as soon as possible!

http://www.medjugorje.com/mej-mart.h...&category_id=1
  #13  
Old Mar 13, '12, 3:43 pm
ProVobis ProVobis is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by ACCT View Post
That is precisely the problem! That is why we are headed to a new one-world currency, step by step.
If this is done, then all the currency traders would be out of a job.

We don't have real money per se. If you pay by dollars, you're essentially using someone else's debt to settle your debts. You can write that person an IOU and if he accepts it, you've just increased the money supply. The only difference with your IOU and the greenback is that the greenback is legal tender and must be accepted in payment of debt. If countries ever synchronized this debt, then one currency could result. Till then it will be a battle as to who will have the reserve currency.
  #14  
Old Mar 16, '12, 8:29 pm
BobCatholic BobCatholic is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

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Originally Posted by ProVobis View Post
If you pay by dollars, you're essentially using someone else's debt to settle your debts.
How is that?

If I have a $20 bill, who do I owe money to? And if I buy something with it, who do I owe money to?
  #15  
Old Mar 17, '12, 6:25 am
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Bklynguy Bklynguy is offline
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Default Re: Chart: 'America’s Per Capita Government Debt Worse Than Greece'

Quote:
Originally Posted by buffalo View Post
Chart: 'America’s Per Capita Government Debt Worse Than Greece'

The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain:




A regular poster on these boards has as their signature one of my favorite quotes: "The problem with socialism is that, eventually, you run out of other people's money."--Margaret Thatcher.
 

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