Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

Trump juggles with USA economic ills, but the fundamental problem remains.

Featured Replies

Just to set the context, the rich USA has an average AFTER TAX income p.a. of about $55,000 which compares to China, about $12,000 , Europe around $30,000 and India/Thailand about $7,000, (in ALL these examples, a high percentage of the people are still relatively 'poor', or desperately poor, a function of inequality).

 

If my sums are right, the USA's debt of $27 trillion, equates to c.$80,000 per man, woman and child, (excluding accrued State pension commitments). That's a massive National Debt, accrued to support unearned standards of personal living.

 

$80,000 per person therefore, has been consumed by each citizen, funded by borrowed money. The question is, can that go on forever? I confess it seems unlikely to me, given that the borrowed money comes significantly from China, Petro States and so on. (In fact, if China starts selling short term bonds now the prospects for the USA are grim).

 

The USA 'standard of living', has become an entitlement which will be hard to moderate - political dynamite in fact. But how do you escape the trap, if you can't go on borrowing indefinitely? (BTW the USA is not the only Country on this hook, e.g. the UK and mainland Europe).

 

In short, a lower standard of living in highly borrowed nations, is inevitable, in the long term. Politicians should be talking, about THAT !

 

Any ideas Guys ?

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.