BEENTHEREDONETHAT Posted July 29, 2008 Share Posted July 29, 2008 According to CNN today the USA credit is shot as they are 52 trillion dollars in debt. Govt says the debt is 9.5 trillion but that does not include social security, politicians retirement, medicare or military retirement. The Bush administration has gone into debt more than all the other administrations combined. 2009 they will add a whopping 490 billion to the bill. Some countries are not going to be buying into the US dollar any longer. Will this have any impact on LOS? Link to comment Share on other sites More sharing options...
britmaveric Posted July 29, 2008 Share Posted July 29, 2008 Yes - this affects the entire world. (global economy) Link to comment Share on other sites More sharing options...
CaptHaddock Posted August 2, 2008 Share Posted August 2, 2008 According to CNN today the USA credit is shot as they are 52 trillion dollars in debt. Govt says the debt is 9.5 trillion but that does not include social security, politicians retirement, medicare or military retirement.The Bush administration has gone into debt more than all the other administrations combined. 2009 they will add a whopping 490 billion to the bill. Some countries are not going to be buying into the US dollar any longer. Will this have any impact on LOS? Actually, the 2009 deficit will be a lot worse than that. The USD 490 million is the Unified Budget deficit which includes borrowing from Social Security. SS is still generating a surplus each year which is loaned to the govt. If you exclude the borrowing from SS and Medicare, the deficit of the General Fund will be nearly USD 800 billion. Why is it that we never read this in the NY Times or Wall Street Journal? Link to comment Share on other sites More sharing options...
lannarebirth Posted August 2, 2008 Share Posted August 2, 2008 Sounds like the makings of a $USD bottom. Link to comment Share on other sites More sharing options...
cloudhopper Posted August 3, 2008 Share Posted August 3, 2008 Sounds like the makings of a $USD bottom. Could you expand on this a bit? Seems to me that the only way out for Sam is to print more. And more. At least until another Volker comes along who has the balls to raise rates and restore some value to the $ which seems unlikely in the face of the current housing crisis. Link to comment Share on other sites More sharing options...
Gumballl Posted August 3, 2008 Share Posted August 3, 2008 (edited) It doesn't matter which country, anybody with balls will not fling them around during an election year. Hurting the general public with higher rates would be plain stupid. What is needed is for the US to invade Iraq again and start selling the oil... as everyone predicted was going to happen 6 years ago. I should further add, if the US were not into democratizing or rebuilding the world, maybe it would not have the deficit it has today. So once and for all, <deleted> Indonesia, Myanmar, Somalia, Sudan, Iraq, Isreal, Europe, Serbia, Croatia, and whatever other countries I missed. The US helps all of these countries and for what?? Edited August 3, 2008 by Gumballl Link to comment Share on other sites More sharing options...
Naam Posted August 3, 2008 Share Posted August 3, 2008 According to CNN today the USA credit is shot as they are 52 trillion dollars in debt. Govt says the debt is 9.5 trillion but that does not include social security, politicians retirement, medicare or military retirement.The Bush administration has gone into debt more than all the other administrations combined. 2009 they will add a whopping 490 billion to the bill. Some countries are not going to be buying into the US dollar any longer. Will this have any impact on LOS? says who? Link to comment Share on other sites More sharing options...
lannarebirth Posted August 3, 2008 Share Posted August 3, 2008 Sounds like the makings of a $USD bottom. Could you expand on this a bit? Seems to me that the only way out for Sam is to print more. And more. At least until another Volker comes along who has the balls to raise rates and restore some value to the $ which seems unlikely in the face of the current housing crisis. Well, I only meant that it is likely that we will only be hearing bad news when a bottom is put in. Bad news may be bad for Americans but not necessarily for the $USD. Let's say there's a deep recession for example, I think American's will have far less discretionary income and that will probably negatively impact their consumption (I can't believe the media thinks that's a bad thing), . Since much of what they consume is imported that will improve the Balance of trade figures, which many people think is the primary input into USD strength/weakness. Or maybe it will rain. Link to comment Share on other sites More sharing options...
mgjackson69 Posted August 3, 2008 Share Posted August 3, 2008 To address the original question...Of course it will, whether the "Usa Credit Credibility" is good or bad A more relevant question would have been: "How might the "Usa Credit Credibility" impact Thailand?" Link to comment Share on other sites More sharing options...
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