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Reply #25: I think we have the beginning of actual dialog here. I'm shocked. [View All]

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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-12-09 06:51 AM
Response to Reply #20
25. I think we have the beginning of actual dialog here. I'm shocked.
I think I may be "the post(er) that said we have to spend like crazy now and worry about it later (not really what I said, but close enough for bar talk), that would be fine if spending was the answer. It's not.", and I'd like to clarify that statement. I would add (should have included in the first place, but longer posts are rarely read), as long as we refuse to look at how our economic and political systems are fundamentally, and fatally, flawed.

As for our creditors, I think that identification is misleading. They are creditors only insofar we have expended vast amounts of our own real wealth to put them, almost without exception, into the positions they now hold enabling them to loan anything to anyone.

Who are our creditors? I'm not up to the minute, but for decades the largest have generally been Saudi Arabia, Japan, Great Britain, and China. Britain created Saudi Arabia, but we made it. Great Britain of course owes it's modern existence to us. We destroyed and rebuilt Japan and most Japanese, certainly their government, have grown to appreciate it. And finally, 21st century China should be required to display the "Made in America" label on their national flag.

All of these nations have one thing in common, none of their economies exist without our market to sell into. This will not be true forever, Great Britain and Japan could probably survive, if not today, soon, without us, but Saudi Arabia would not last 24 hours without our military support (a diplomatic and tactical blunder of epic proportion, on our part, which causes us so much more trouble than it is worth) and China would collapse in a couple of months without sending their crap here. Creditors number one and two.

There is no avoiding this crisis, it has happened. All we can do now, in the context of being stuck in the system we've built and refusing to acknowledge it's un-sustainability, is to spend wildly to keep people working and to turn back toward producing things which are both required to maintain the structure of an economy. It is a poor solution to an untenable position, but it is all we have at this time.


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