U.S. NATIONAL DEBT
so each citizen's share of this debt is $29,167.26.
At the Precipice of Economic Collapse
The U.S. government is broke! It must borrow more than $2 billion per day to fund its programs at home and its military operations around the globe.
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At the current spending rate, North Americans buy $810 billion more in goods and services each year than they sell overseas.
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But American foreign policy has made the nation an international pariah; at some point, if a country with large dollar holdings decides that the planet would be better off without the U.S., it can "pull the trigger" and quickly bring about America’s economic destruction.
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America owes a significant portion of its debt to nations it defeated in World War II. God warned that if His people did not obey Him, they would have to serve their enemies.
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3 comments:
Don't count on our collapse anytime soon. Most of that debt is actually owed to ourselves, and as a percent of GDP is it miniscule. On the other hand, methinks the Islamic paradise of the 7th Century will bring the world into full collapse and misery. No modern medicines, no modern transportation, no computers, no cellphones, no electricity (get the hint, all products of American ingenuity and the western liberal tradition).
The dollar, as predicted is being crushed. We are now at Par with the Canadian Dollar, the Loonie as it is called. This was all so predictable. You cannot run an 800 bilion dollar trade deficit and have your currency in demand. We have a lot farther to fall. Within 5 years from 2008 we should see the Canadian Dollar worth 25 % more than the U.S. dollar. The Euro at 1.40 now, should move to near 2.50, as China buys more and more of the Euro.
The pound at 2.04 as I write this will be near 3.00. Be ready for CHINA. When they finally let their currency float it will appreciate 70% over a 36 month period. The US trade deficit will be cut in half and then some by 2020.
It's why I support Ron Paul.
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