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Thread: US Deficit: $435.2 billion

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    ASP.NET Moderator mendhak's Avatar
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    Unhappy US Deficit: $435.2 billion

    http://www.msnbc.com/news/875068.asp

    Not good for any of us is it?

  2. #2
    Frenzied Member MerrionComputin's Avatar
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    It's pretty good for my uncle Frankie - but then he is in the repo business.

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    ASP.NET Moderator mendhak's Avatar
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    After reading this, a question came to mind: Is it time to stop concentrating on the war front and pay attention to matters pertaining to national interest and the economy?

    We live in a global village, and a war should successfully send the world markets into doldrums and the national US deficit spiraling upwards, correct?

    Or is this deficit still 'small' enough that a war is affordable?

    Think about that.

  4. #4
    Frenzied Member DeadEyes's Avatar
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    If OPEC switches from using Dollars to Euros for trading ( like Iraq) then there will be big problems.

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    Lively Member Wally Pipp's Avatar
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    trouble for who ?
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    Frenzied Member DeadEyes's Avatar
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    After reading this, a question came to mind: Is it time to stop concentrating on the war front and pay attention to matters pertaining to national interest and the economy?
    Wars tend to stimulate the economy at least they have in the past

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    Frenzied Member DeadEyes's Avatar
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    trouble for who ?
    Nearly everyone most countries keep dollars as reserves like the old gold standard.
    Euros would be the new currency to have as a reserve, countries would be trying to dump their Dollars.

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    Frenzied Member msimmons's Avatar
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    I'm off to GalahTech, hope to see you there.

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  9. #9
    Frenzied Member DeadEyes's Avatar
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    I just thought of something with a deficit like that AOL must be running the country

  10. #10
    Lively Member Wally Pipp's Avatar
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    Originally posted by DeadEyes
    Nearly everyone most countries keep dollars as reserves like the old gold standard.
    Euros would be the new currency to have as a reserve, countries would be trying to dump their Dollars.
    I know that but as OPEC is contemplating the switchover, the East Asian Free Trade market is emerging and with half of the money in foreign hands, the most vulnerable in the whole story is likely to be the US economy itself.

    Most of them regard the emerging of the Euro as a welcome alternative, a chance to get out of the yoke of the US$ and possibly a chance to punish the US for their policy (think Saudi Arabia)
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    Frenzied Member DeadEyes's Avatar
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    Originally posted by WallyPip
    I know that but as OPEC is contemplating the switchover
    Are OPEC really considering the switch?
    I know Europe consumes more oil than America; I was saying if as in total hypothetical unlikely to happen.

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    Lively Member Wally Pipp's Avatar
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    In absolute terms yes but in terms of buy vs consumption the US is the biggest.
    And there has been serious talk of the switchover recently, it's no longer highly unlikely but an 'option'. And that option could be reinforced as the Anti-US tension rises in the middle east.
    Furthermore, the Russians are closer to Europe than the US.

    All in all it won't happen overnight but don't dismiss it as highly unlikely.
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    Fanatic Member venerable bede's Avatar
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    Just think of all the lovely Marshmallows you could buy with that.






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    Lively Member Wally Pipp's Avatar
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    Ah yes, Newcastle ... heaven on earth
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    Fanatic Member simonm's Avatar
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    You think war is good for the economy? Think again...

    Costs of War on Iraq
    The money costs of this war will be great. Larry Lindsey, President Bush's former economic advisor, lowballed an estimate of $200 billion. (Exactly one twenty-millionth of this amount would pay off my student loan.) For this, Lindsay was told to resign for having the political idiocy of stating such an astounding figure publicly, as though a healthy democracy does not need to know such confusing data. If truth isn't one of the first casualties of war, then Lindsay's superfluous job surely qualifies.
    Will War Bring Prosperity?
    And it now seems that the Bush administration might be making that mistake again. It seems possible that the coming invasion and occupation of Iraq will happen because the Bush administration believes in the Keynesian/Great Depression myth of perpetual war for perpetual prosperity. As then-Secretary of State James Baker said at the beginning of the first Gulf War, the war was all about "jobs, jobs, jobs."
    Everything I say is either loose interpretation of dubious facts or idle speculation rooted in irrational sentiment.

  16. #16

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    ASP.NET Moderator mendhak's Avatar
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    Originally posted by Wally Pipp


    Most of them regard the emerging of the Euro as a welcome alternative, a chance to get out of the yoke of the US$ and possibly a chance to punish the US for their policy (think Saudi Arabia)
    On the contrary, S.Arabia is a US ally, is it not?

  17. #17
    Lively Member Wally Pipp's Avatar
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    An increasingly uneasy one. And it won't get any better.
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    Addicted Member MasterBlaster's Avatar
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    Re: US Deficit: $435.2 billion

    Originally posted by mendhak
    http://www.msnbc.com/news/875068.asp

    Not good for any of us is it?
    It depends where the 435.2 billion is being spent. If it is being received by companys that will eventually funnel the money back into the United States/euro economy then no it is not that bad, Actually It's a good Idea. It's the same thing Regan/Bush1 & Clinton did. Regan/Bush1 ran a deficit but made sure the money ended up in corporate America (and England) . 12 years go by and the money piles up. Clinton comes in, balances the budget and gives consumers confidence. The corporate flood gates open and the economy goes through the roof. Its all runs in cycles. You can thank Mr. Roosevelt for that one.

  19. #19
    Banished Cander's Avatar
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    This will put comments on war = jobs and better economy into perspective

    http://www.cnn.com/2003/TRAVEL/02/20...eut/index.html
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  20. #20
    Addicted Member MasterBlaster's Avatar
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    It's only Disney World. AFAIK The Global Economy Dosn't depend on Mickey Mouse. Ok here are some examples.

    In the 50's the US government poured countless dollars into companies like Boeing, Lockheed, Mcdonald Douglas for aerospace research for the military. Every company in the world now depends on the technology developed by these companies to survive.

    In the 60's The US Government spent countless dollars in developing a space program for the military. Now we have Sattelite communucations.

    In the 70's The US Government spent countless dollars on developing computers for the military.

    In the 80's The US Government spent countless dollars developing advanced computer communications systems.

    1. Comercial Airliners capable of efficient trans-continental travel.
    2. Sattelight communications AKA efficient Worldwide Communication
    3. Mainframes and automated computer run mass production facilities
    4. Hint: Your dialed into it right now!

    any one of these things developed for the US Military(at a deficit in some cases) Now bring in damn near 435.2 billion dollars a day world wide. Your trying to compare a few college kids getting laid off at disney world to 4 of the biggest economical boost ever in the world. And that is only 4 examples, If you need more please tell me.
    Last edited by MasterBlaster; Feb 20th, 2003 at 02:54 PM.

  21. #21
    Moderator.NET kleinma's Avatar
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    Im glad my job is safe.. at least for a little while...

    every poor b@stard and his mom has a cell phone
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  22. #22
    Addicted Member MasterBlaster's Avatar
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    Originally posted by kleinma
    Im glad my job is safe.. at least for a little while...

    every poor b@stard and his mom has a cell phone
    I duuno, I make up a resume. I read in the news that cell phones may or may not give you brain cancer. I'm glad The president dosn't get his economical policies by watching CNN or Dateline.

  23. #23
    Moderator.NET kleinma's Avatar
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    Originally posted by MasterBlaster
    I duuno, I make up a resume. I read in the news that cell phones may or may not give you brain cancer. I'm glad The president dosn't get his economical policies by watching CNN or Dateline.
    that rumor has been going around for the past 5 years or so... with no evidence to support it...

    i read a lot in the news.. i believe about a quarter of it...

    besides cell phones by majority are going hands free for a lot of applications including in cars as well as at home.. over the next year or so you are going to see some pretty cool cell phone stuff come around
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    Addicted Member MasterBlaster's Avatar
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    Yea I've been hearing about the new programable interfaces they are using now. Pretty slick stuff from what I've read. Hey about the cancer thing. Since your the local cellphone expert, Could you explain this big lump, the size of a basball, that's sticking out the side of my head ? erm.... hold on, My cell phones ringing again.

  25. #25
    Moderator.NET kleinma's Avatar
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    Originally posted by MasterBlaster
    Yea I've been hearing about the new programable interfaces they are using now. Pretty slick stuff from what I've read. Hey about the cancer thing. Since your the local cellphone expert, Could you explain this big lump, the size of a basball, that's sticking out the side of my head ? erm.... hold on, My cell phones ringing again.
    that big lump is ur AFRO
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  26. #26
    Addicted Member MasterBlaster's Avatar
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    No Afro I'm bald, I just have a really really bad back hair problem

  27. #27
    Moderator.NET kleinma's Avatar
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    Originally posted by MasterBlaster
    No Afro I'm bald, I just have a really really bad back hair problem
    lol i would have to say so... in that case maybe ill pack up and go into the hair removal business
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