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Thread: The U.S. has achieved Third World Status.

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    Banned Eric Stoner's Avatar
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    Default The U.S. has achieved Third World Status.

    The U.S. debt situation is starting to resemble that of many Third World countries that rang up excessive debt in the 80's and 90's. In return for refinancing to avoid default, they had to adopt austerity measures and get their fiscal houses in order.

    Now the G-20 is talking about doing the same with us to prop up the dollar. I am NOT making this up. Wish I was.

    The "lamestream" media underreported Chinese concerns about the amount and QUALITY of our debt. Melonie has done her usual superb job of pointing out the problems with rolling over short term U.S. Government debt.

    Yesterday, in a barely reported item, several G-20 members expressed concern about the declining dollar. They recognize that the U.S. is a major market for their goods and that the dollar is the reserve currency for the rest of the world. In order to sell us stuff, they have to take dollars in payment. For now. As I noted in another thread, the President of Brazil has joined China and Russia in calling for using native currencies or using a new currency other than the dollar.

    Rather than go through the disruptive process of de-dollaring, a number of G-20 countries are quietly talking about bailing out the dollar ( Foreign Aid to the U.S. ! - lol to keep from crying ) in return for BOTH fiscal and monetary discipline from the U.S.

    Obama is busy trotting around trying to get China and other big exporters to lessen their dependence on exports and increase domestic spending. In return the U.S. will agree to do what it is supposed to do : increase savings and reduce debt . In a nutshell, many of the G-20 members are politely telling him to copulate with himself. They like being where we were after W.W. I and W.W.II. They like having economic growth of 5 % as Brazil does. They are increasingly interested in making sure that all the money they've lent us gets paid back.
    The NERVE of those people !
    Last edited by Eric Stoner; 09-25-2009 at 10:29 AM.

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    God/dess Deogol's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Third world indeed - complete with soldiers kidnapping people off the street:



    (I know - a little off topic - but is it really to tell how it is/will be when shtf?)

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    Default Re: The U.S. has achieved Third World Status.

    here's the 'latest' CBO budget deficit projection ...



    ^^^ and these deficits include increased tax rates by the Democrats allowing the GWB tax cuts and AMT patch to expire next year, plus the effect of new taxes and fees !

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    Default Re: The U.S. has achieved Third World Status.

    To the best of my knowledge, China still has tons of USD exposure... any news on that?
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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    Default Re: The U.S. has achieved Third World Status.

    ^^^ arguably China is holding 2.1 TRILLION dollar's worth of previously purchased US Treasury and Agency bonds ... which are obviously denominated in US dollars. Based on recent Treasury auction data, China is still purchasing US Treasury bonds - albeit at a much slower rate than in the past. However, China is also 'spending' a huge number of the US dollars it holds on global commodities, on the acquisition of worldwide 'business assets', etc.

    The Chinese gov't is now on record to be pursuing a policy of 'diversification' away from the US dollar. Besides the above, the Chinese gov't has recently set up Yuan swap agreements with various smaller foreign countries - which now allows those countries to trade with China without requiring an intermediate exchange into US dollars to settle trade transactions. This of course incrementally reduces the US dollar's role as the world's 'reserve' currency, and also incrementally takes Wall St. banks out of the loop.

    The talking heads are saying that China is trapped by the existance of their 2.1 trillion dollars of paper assets. If the US dollar falls precipitously, as would be the case if China simply decided to stop buying or start selling US Treasuries, then in effect China would take a huge loss as the 'purchasing power' of the 2.1 trillion dollars they hold shrinks. On the other hand, the Chinese gov't has not shied away from 'painful' policy decisions in the past, if they thought that the end result was in China's long term best interest. So the key question in the context of this thread is whether or not the Chinese gov't is willing to take a one trillion dollar loss in 'purchasing power' on the US Treasuries they already hold in order to knock the USA into the #2 slot, with China then becoming the world's #1 economic power !

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    Default Re: The U.S. has achieved Third World Status.

    Yeah, there was that business with a buying spree and the swaps with the Russians a while back, but I hadn't heard anything significant since then.
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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    Banned Eric Stoner's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    From the World Economic Forum here are the top 20 countries ranked on financial stability :
    1. Norway
    2. Switzerland
    3. Hong Kong
    4. CHILE !
    5. Singapore
    6. Saudi Arabia
    7. CANADA !
    8. Kuwait
    9. AUSTRALIA !
    10. Germany
    11. Finland
    12. France
    13. Malaysia
    14. Mexico ? ? ?
    15. Brazil
    16. The Czech Republic
    17. U.A.E.
    18. Sweden
    19. Denmark
    20. The Slovak Republic

    The U.S. ? We finished 38th. We ranked 50th in currency stability; 36th in banking stability and our banking system ranked 21st in size and 26th in efficiency. We finished below Panama but did manage to beat out Argentina, Bangladesh, Kazakhstan, the Ukraine and Venezuela.
    Also absent from the top 20 were the U.K.( 37 ) , Japan, Spain, China, India and Russia. What do they all have in common ?

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    Default Re: The U.S. has achieved Third World Status.

    Who did the ranking?

    "U.K.( 37 ) , Japan, Spain, China, India and Russia. What do they all have in common " Probably better control of large corporations.

    BTW good job of cobbling up a sensational HEADLINE based on a very stretched comparison.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Banned Eric Stoner's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by threlayer View Post
    Who did the ranking?

    "U.K.( 37 ) , Japan, Spain, China, India and Russia. What do they all have in common " Probably better control of large corporations.

    BTW good job of cobbling up a sensational HEADLINE based on a very stretched comparison.
    The members of the World Economic Forum.

    The rankings were based on financial stability of both the country and its banking system.

    Major countries with large economies left out of the top 20 all have an undervalued currency ( China and the U.S. ); shaky finances ( U.K., U.S., Spain and Japan ); high unemployment ( U.S., Spain and Russia ).

    I hadn't thought of overregulation but you may be right.

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    Banned Eric Stoner's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    At present the U.S. would NOT qualify for admission to the European Union. Latvia ? -Yes.
    Portugal ? - Yes. The U.S. - NO !

    The E.U. has a debt limit of 60% of GDP and we are not there yet. (We will be in a few years.) But they also limit deficits to 3% of GDP and we are way over.

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    Default Re: The U.S. has achieved Third World Status.

    So you found one statistic where the US does not qualify. I'd bet that your counterpart in each of those other countries can also find a statistic where their own country did not qualify either.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by Eric Stoner View Post
    Also absent from the top 20 were the U.K.( 37 ) , Japan, Spain, China, India and Russia. What do they all have in common ?
    China is a Marxist-Leninist communist country. India does not subscribe to Marxist-Leninist ideology, but is considered by most in the West to be a communist government. Russia is still recovering from its previous Marxist-Leninist communist state.

    Spain's current suffering economy has similar causes to the United States': low interest rates and increased immigration led to the growth of the property bubble from 1997 until it burst in 2008.

    Japan (capitalist) is still trying to recover from after-effects of its 1990s price bubble and domestic policies, plus the global economic slowdown of the early 21st century.

    The U.K.'s economy is also capitalist and operates under low taxation and regulations. Its economy is in recession because of the global crisis -- and because of its large trade deficit. Basically, U.K. workers show low levels of productivity per hour worked.

    Quote Originally Posted by Eric Stoner View Post
    From the World Economic Forum here are the top 20 countries ranked on financial stability :
    1. Norway
    2. Switzerland
    3. Hong Kong
    4. CHILE !
    5. Singapore
    6. Saudi Arabia
    7. CANADA !
    8. Kuwait
    9. AUSTRALIA !
    10. Germany
    Interesting. Many of those countries exhibit strong social democracy -- which means implementing some elements of socialism through a democratic government. For instance, in Norway, the government owns key industrial sectors. And while Switzerland's economy is capitalist, the country has many social programs in place. Basically the United States has exhibited social democracy since FDR. It just goes to show that economic success can be had without strict capitalism.

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    Default Re: The U.S. has achieved Third World Status.

    ^^ Yes. If globalization is very carefully dealt with.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Featured Member Laurisa's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by Eric Stoner View Post
    Yesterday, in a barely reported item, several G-20 members expressed concern about the declining dollar. They recognize that the U.S. is a major market for their goods and that the dollar is the reserve currency for the rest of the world. In order to sell us stuff, they have to take dollars in payment. For now. As I noted in another thread, the President of Brazil has joined China and Russia in calling for using native currencies or using a new currency other than the dollar.
    Somehow that sounds eerily similar to cautionary words we've all heard about that "one world currency". I'm not religious, (was raised mormon) but I think that whether or not the bible has any personal merit with you is irrelevant. The bible has warned us of the effects of a one world currency, and a unified government, and that idea shakes me to the core. I've always thought it was going to the Chinese or the Russians that started the movement. Shit, they've had enough impact on history, and China definitely has enough debt to hold over our heads. If Russia, China, and the U.S. invented this idea as a permanent solution (in response to people like me and Melonie who bitch about the long term results of recent government efforts) I think enough people would be stupid enough to take to it.
    If you are willing to do for one year what other's won't, you can spend a lifetime doing what other's cant.


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    Default Re: The U.S. has achieved Third World Status.

    You've obviously never spent any time in a 3rd world country.


    Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!


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    Default Re: The U.S. has achieved Third World Status.

    I just heard today on CBC radio that the U.S. is responsible for HALF of all the food aid that occurs in the world today. Another impressive fact that only increases my already considerable esteem and admiration for your great country.

    Perhaps the U.S. has achieved third world status in the minds of some, but in this man's eyes, it is first among the great nations.

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    Featured Member Laurisa's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by Paris View Post
    You've obviously never spent any time in a 3rd world country.
    Was that statement directed at me? If it was, I don't see how my post related to third world countries at all. It was about my opposition toward a one world government and one world currency.
    If you are willing to do for one year what other's won't, you can spend a lifetime doing what other's cant.


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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by Laurisa View Post
    Was that statement directed at me? If it was, I don't see how my post related to third world countries at all. It was about my opposition toward a one world government and one world currency.
    Nope. It's the title of the thread. I hadn't read through all the posts yet, just the OP.


    Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!


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    Default Re: The U.S. has achieved Third World Status.

    Wow, interesting/odd thread, not something I would expect to find on "Stripperweb" haha

    I do not know enough about any of this to have an intelligent opinion on the subject. At least I'm aware of that. HAHA

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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by YodaLady.com View Post
    Wow, interesting/odd thread, not something I would expect to find on "Stripperweb" haha

    I do not know enough about any of this to have an intelligent opinion on the subject. At least I'm aware of that. HAHA
    Dollar Den is the only worthy forum on the whole site.

    (Now and then when I think someone is a big dummy head, I go read the threads in the other forums about "I hate that bitch" "Can a stripper love me" and "Menz iz dumbz" and come back here relieved of having some intelligent conversation going on.)

    If it wasn't for Dollar Den, I would have been gone a long time ago (to the chagrin of some people around here I am sure.)

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    Banned Eric Stoner's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by hockeybobby View Post
    I just heard today on CBC radio that the U.S. is responsible for HALF of all the food aid that occurs in the world today. Another impressive fact that only increases my already considerable esteem and admiration for your great country.

    Perhaps the U.S. has achieved third world status in the minds of some, but in this man's eyes, it is first among the great nations.
    Our FINANCIAL system and our DEBT situation are in line with many Third World countries. The fact that we also have great wealth and are very generous with food and other foreign aid is irrelevant.

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    God/dess threlayer's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    Just one of many negative threads in this forum, based on a particular incident or pronouncement or prognostication.

    Move along, people.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Banned Melonie's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    ^^^ what particujar incident are you referring to ... Argentina's default perhaps ? Arguably America's widening gov't budget deficits and rapidly increasing indebtedness to foreign lenders ( via record sales of new US Treasury bills ) will put America exactly where Argentina was re unsustainable debt levels by 2011-2012 !

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    Default Re: The U.S. has achieved Third World Status.

    Quote Originally Posted by Eric Stoner View Post
    The "lamestream" media underreported

    That's cute, I like that.

    I call them the False Prophets... as in the ones who are suppose to convince the masses to worship the Antichrist... Not to get all biblical or anything but I, too, am all for calling a spade a spade.

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    Banned Melonie's Avatar
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    Default Re: The U.S. has achieved Third World Status.

    ^^^ woah ... in the interest of avoiding unwanted 'attention', you might want to avoid the future mention of mainstream media as 'False Prophets' + 'convincing the masses to worship the Antichrist' + 'spade' in the same post !

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