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The Rest Of The World Is Worse Off Then The USA

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posted on Feb, 19 2009 @ 03:45 PM
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I continuely see threads on this board on how the US economy is going bankrupt and that we are currently seeing the downfall of the USA. That the USA is in a depression, that they are screwed, yada yada yada. I understand the hate for the USA on this board. I see post after post of USA bashing. However what most people fail to realize is that the rest of the world is far worse off then the USA. Take for example Eastern Europe.

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point....In Poland, 60pc of mortgages are in Swiss francs. The zloty has just halved against the franc. Hungary, the Balkans, the Baltics, and Ukraine are all suffering variants of this story. As an act of collective folly – by lenders and borrowers – it matches America's sub-prime debacle. There is a crucial difference, however. European banks are on the hook for both. US banks are not.

Almost all East bloc debts are owed to West Europe, especially Austrian, Swedish, Greek, Italian, and Belgian banks. En plus, Europeans account for an astonishing 74pc of the entire $4.9 trillion portfolio of loans to emerging markets.

They are five times more exposed to this latest bust than American or Japanese banks, and they are 50pc more leveraged (IMF data).

Failur e to save East Europe will lead to worldwide meltdown

How about in the UK. According to this man they are very close to a depression right now. UK Very Close To Depression

Japan seems to be in serious trouble too.

Many economists say that the United States today is in a situation alarmingly similar to that of 1929. But Japan, far more than America, is close to plunging into a depression that, with double-digit unemployment, could severely strain a society that counts lifetime employment as a virtual right of citizenship
Dark Clouds Over Japan

And I realize that the USA is in trouble too. The point I am trying to make is maybe all of you need to sit back and look at the whole picture before you start bashing the USA. Continuously posting thread on how it is the End of the US. I actually believe the USA is in the better position to pull out of this recession then these other countries. Of course only time will tell.



[edit on 19-2-2009 by tide88]

[edit on 19-2-2009 by tide88]




posted on Feb, 19 2009 @ 04:19 PM
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you mean there are other countries in the world?

Proof

????



posted on Feb, 19 2009 @ 04:31 PM
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Originally posted by mental modulator

you mean there are other countries in the world?

Proof

????


If you read the posts on this site you would think it was the USA and the USA only.



posted on Feb, 19 2009 @ 04:37 PM
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Originally posted by tide88...what most people fail to realize is that the rest of the world is far worse off then the USA.


Well, not all of the rest of the world, because our banking system wasn't as creaky as yours to begin with. It's because of our reliance on the US marketplace that we are vulnerable. If you go down, we'll certainly be circling the drain in response so I wouldn't venture to say better off, but worse off? I don't think so.



posted on Feb, 19 2009 @ 04:45 PM
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We're all going down.

We're just sinking at different rates.



posted on Feb, 19 2009 @ 04:48 PM
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reply to post by JohnnyCanuck
 


Even as bad as the U.S. economy is right now it is still better than every other countries economy. Ask any economist they will tell you that if the U.S. economy crashes every economy in the world will crash. But on the flip side as bad as the u.s economy is right now if the eastern european countries crashed and started a domino effect into western europe then with in hours the U.S. economy would crash as well from the stress of europe defaulting.

Make no mistake eventually the world as we know it is going to come crashing down, and when the dust settles the U.S. economy even though down will still be stronger than the rest of the worlds economies.

And oh yeah the U.S. banking system was copied from the europes model of banking. and just about every other country in the world copied them as well. While you may claim your countries banking system wasn't as creaky as the U.S. system, I call BS. your government was just better at hiding the creaks.



posted on Feb, 19 2009 @ 05:02 PM
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The Rest Of The World Is Worse Off Then The USA


Of course they are, that's why treasuries are selling like hot cakes and the US dollar keeps getting stronger.



posted on Feb, 19 2009 @ 05:04 PM
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reply to post by stevegmu
 





Of course they are, that's why treasuries are selling like hot cakes and the US dollar keeps getting stronger.



It's too bad that plan is going to fail.

If I were any other country i'd find sanctuary in something else...anything.



posted on Feb, 19 2009 @ 05:51 PM
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Originally posted by David9176
reply to post by stevegmu
 





Of course they are, that's why treasuries are selling like hot cakes and the US dollar keeps getting stronger.



It's too bad that plan is going to fail.

If I were any other country i'd find sanctuary in something else...anything.

Well, we haven't had riots, as many cities in Europe have, and are seen as more stable, and in a better position to get out of this current downturn.



posted on Feb, 19 2009 @ 05:52 PM
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THe rest of the world is more willing to admit it. That is the big difference I have noticed.



posted on Feb, 19 2009 @ 06:21 PM
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Originally posted by JohnnyCanuck

Originally posted by tide88...what most people fail to realize is that the rest of the world is far worse off then the USA.


Well, not all of the rest of the world, because our banking system wasn't as creaky as yours to begin with. It's because of our reliance on the US marketplace that we are vulnerable. If you go down, we'll certainly be circling the drain in response so I wouldn't venture to say better off, but worse off? I don't think so.


You beat me to it!! Right on eh??

Canada is going to suffer through a serious downturn but it is not going to be as long as what is going to happen in the rest of the world. We are going to pull out of this alot better off than in other parts of the world. I would would even say that we will be the next economic super power!!!



posted on Feb, 19 2009 @ 06:30 PM
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Originally posted by Mercenary2007While you may claim your countries banking system wasn't as creaky as the U.S. system, I call BS. your government was just better at hiding the creaks.


No, what your banks were doing would send you to jail, here, so keep your Bravo Sierra to yourself.

Best wishes, anyway.



posted on Feb, 19 2009 @ 06:49 PM
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This is a frustrating topic. You've got two different gloom & doom sides you have to consider, man. You have the asshats who are standing around cheering the "demise" of America, hoping to see us fall off a cliff, hating us, etc, on one side of the gloom coin. On the other side, you have those of us who love this country and don't care* what happens to the other nations of the world in relation to America, yet are discouraged as hell by what we see happening right here. Many of us aren't disparaging the US nor do we want it to appear like the US is going to self implode economically.

I still believe in baseball, mom, and apple pie, my friend. I don't give a rat's ass if we're falling down a hole but just not as deep a hole as some country in Europe or Asia is falling into. Bottom line, we're still in a damn hole... it does not comfort me that Russia's got rising water in their hole or the UK just discovered their hole is full of moist, fresh dog crap, or that Japan's hole was unfortunately dug in sandy soil that's suddenly caving in on them. I feel bad for them, but the simple fact is that my #1 concern is the fact that regardless of what shape they find themselves in, we too are stuck in a hole. Our first priority should be to start picking the snakes that dropped us into this hole out of the hole, snap their necks, and toss their carcasses to the vultures outside the hole. Then we have to figure out not only how to climb out of the hole, but once we get out of it we have to fill it back in to make sure we never fall into it again.

Right now all we seem to be doing is desperately begging the Russias, UKs, and Japans to share a little of their water, dog turds, and loose sand with us so we can "share their pain." To me, that's unacceptable. It is also unacceptable for us to be trying to assist the snakes carefully out of the hole unscathed. What kind of crap is that? We've already been bitten by them numerous times, are we to assume that they won't again try to bite us if we help them up... while we're attempting to fully pull ourselves out of the hole afterward, no less?

To try and tell me that it isn't so bad because other countries are worse off than we are is a really poor excuse for a silver lining. That makes about as much sense as telling a mother who has lost one of her children "Well, get over it, at least you have other kids."

As for those who are celebrating the "downfall" of America, if you're in America right now, get the hell out of my country, you are not wanted, needed, or of any use here. If you're outside the US's borders, stay out and I'd suggest you shut your flapping gums and actually think before you speak on the topic again. Think about exactly what this total collapse of America some of you seem to view so joyously would mean to the rest of the world. It would mean no more international aid, of which the US is the #1 giver of worldwide. It would mean no more military aid, which, complain about it as much as you wish, IS what has kept the entire world from becoming a giant communist dictatorship since WWII. It would also mean that the one country in the world which was built upon the concept of essential human rights, freedom, democracy, and the abillity of anyone from any background being able to reach whatever goal they aspired for (like, say, a black kid from a single parent home becoming president of the nation and leader of the free world) was an epic failure. Ruminate on that for a while... is the idea of the principles this country was founded on, freedom, justice, and "yes, I can" are failures really something you view as a good thing? (and yes, I realize many of those ideas have become perverted and have been compromised, but they still live & breath inside the hearts of the real Americans in this country). If your answer is "yes, those failures are good" then feel free to silence yourself permanantly because you are part of the problem and of absolutely no use to this world. **

*note: I'm not saying I don't care about whatever plight the rest of teh world faces. I'm just saying that it doesn't soften the blow nor do I take any glee in knowing that as bad off as my country is, at least there are other countries worse off.

**My usage of the word "you" in that paragraph was not directed at any one person in this thread. It was used as a general descriptor to anyone who harbors the resentment and attitude towards America which I listed.



posted on Feb, 19 2009 @ 09:14 PM
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Originally posted by burdman30ott6 Our first priority should be to start picking the snakes that dropped us into this hole out of the hole, snap their necks, and toss their carcasses to the vultures outside the hole. Then we have to figure out not only how to climb out of the hole, but once we get out of it we have to fill it back in to make sure we never fall into it again.


Seems to me that this whole process was a means of separating the baby-boomers from the immense pile of post-war cash that they had amassed by paying for their homes, before they could pass it along to the kids.

And anybody that wishes for the downfall of the US and its economy is either a moron or living in a cave. Unless, of course, they'd be making money off it.

Then we ought to revert to burdman's suggestion above.

30.06, ya say?



posted on Feb, 20 2009 @ 01:36 AM
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Originally posted by tide88

Japan seems to be in serious trouble too.

Many economists say that the United States today is in a situation alarmingly similar to that of 1929. But Japan, far more than America, is close to plunging into a depression that, with double-digit unemployment, could severely strain a society that counts lifetime employment as a virtual right of citizenship
Dark Clouds Over Japan


That's pretty funny, if you click the link you'll see its from TWENTY YEARS AGO! Right when people were starting to get worried about the first Japan bubble (back when the real estate under the Imperial Palace was worth more than all of California).

Its funny to me because although you picked a twenty-year-old article out, the writer was correct about what would happen to Japan and in a way NOTHING has really changed since then! The country has just sort of stumbled along, slowly rotting out from the inside.

The last few years saw some solid stats, but now actually Japan is probably the worse-hit among the G7 advanced economies. They are facing grimmer stats than the USA or Europe (so despite your outdated link, your actual point is quite correct). No wonder their finance minsiter was stinking drunk last week at the G7 meeting!

Some more recent links:

Japanese downturn worst in 35 years
www.latimes.com...

Japan's economy to continue decline in 2009
www.manufacturing.net...

BOJ says Japanese economy deteriorating "Significantly"
www.bloomberg.com...



posted on Feb, 20 2009 @ 08:20 AM
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reply to post by Mercenary2007
 


As usual your nationalistic sentiments made me laugh.
All banks function relatively the same. It wasn't how they were set up, but how they wantonly gave loans to people who were not qualified to pay that "brought" upon this crisis.



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