The new "world's largest economy..."

They also have the largest GDP in history. That's a stupid argument. Look at it in percentage terms not nominal.

 

It's a mutually beneficial arangement. Many countries, especially China, are growing their economies by offering credit to the U.S. If they demanded payment as you insist they would hurt themselves. Business thrives on credit.

 

To some extent, yes. Technology has begun to make us much more efficient though. We need comparatively fewer and fewer resources. The big issue in my mind is countries like China,India, Pakistan etc. who are letting their populations go out of control. They threaten to bring the whole world down to their level....or more than likely start a huge war in the future.

 

Just got here, not going to read all the posts unless somebody summarizes.

All I will say is, as a Taiwanese living in America and seeing first hand the double standards...

GO CHINA GO!

 

Really? Because I too have a home in China, family, etc, and whatever coverage we get in US, we also get in China. For instance, the latest news on bin Laden. Yes, Chinese people know about this too.

 

As long as the U.S. is going to sit and **** around, then go ahead China. I care more about the human race moving forward than the U.S. having to be on top.

 

This is true. A lot of countries are wasting their resources with wars and stupid policies though. My goal would be to eliminate scarcity in the world, so all nations can be better than current first world countries.

 

the time of living high on the hog is coming to an abrupt end....the US has taken advantage of the rest of the globe long enough...time to pay the piper now! The days of just printing dollars in order to import whatever you desire is going to end very soon!

 

you realize though ounce the US loses the reserve status then there are over 6 trillion dollars out there which will all come home at the same time bidding up everything in sight causing massive hyper-inflation right?

 

HAHAHA you can't expect our generation to pay for our past generation's sins do you?

We will use military force to stay at number one or it will be a transition to a one world currency.

 

I pity you as you really dont know what fate awaits america once the currency crisis hits!

 

Tell that to the people of Tibet. Considering in China that the average person in terms of knowledge of world events makes the average American look like a historical scholar - you might be eating your words.

Hopefully the large economy will usher in some much needed freedom for the people. If you think the US is a police state, you no nothing.

 

I pity all economies if the US economy ends up dead one morning. We're your biggest cosumer and producer.

http://en.wikipedia.org/wiki/List_of_largest_consumer_markets

 

I can assure you....the globe survived before america and can survive post america! On the other hand ...americans will suffer a fate ......well......you figure it out

 

The America's are the most plentiful countries in the world in terms of resources(wood, corn, amount of acres per amount of people, oil, plentiful seas, tobacco, cotton, wide variety of climates) were the world's largest food exporter aswell. Again I weep for the world if we fall, but if we need to we can survive on our own just fine.

 

You realize the transition will be gradual right? The U.S. government could begin contracting the money supply in preparation for this (if it even happens).

 

how the hell are they going to reel in 6 trillion? They cant even just balance the budget and so you think they can remove all that liquidity without causing a spectacular collapse?

 

A lot of it can be brought back in through open market operations, a higher discount rate, and higher reserve requirments. Most of that would target the domestic supply of money, but it would be reflected internationally. Also, inflation in the long run isn't deterimental....aka the Neutrality of money. I'm not saying it would be good if people started dumping the dollar, but it wouldn't be anywhere near as bad as you make it out to be.

 

Lets look at some facts since WW2 shall we:


USA: Ilegal Military Invasion of about 43 countries (both overtly and covertly) that has resulted in approximately 14.8 million civilian deaths

China: I dont know you tell me Jason Bourne - how many?


The USA also has the largest imprisonment rate per capita in the world

No doubt about it folks the GREAT USA - Leader of the FREE WORLD

 

14.8 million...hmm, I'd love to know how you got that number. I imagine you just added up the casualty numbers in each conflict and attributed them directly to the U.S.

 

That's actually a very low estimate. I've seen higher figures on official sources (history textbooks which talks about US imperialism; yes, "US imperialism" is a US textbook's wording, not mine).

 

you mean the way nobody reports or talks about any of the great things the USA does? the way the world just hates our guts and will only focus on any mistakes we make like it is our desire to rule the world and spread evil like paint? dont worry the world will gets its wish one day and im not sure they are going to be happy with it. i think its mostly children who have only come to maturity in a climate where the west is viewed as evil.

 

??? Millions of different products. We are THE WORLDS LARGEST MANUFACTURER OF GOODS!!!! What part of that dont you understand? I did business with 110 different Manufacturing Companies in 2010, just in our town of 250,000. Probably 85 different types of products and maybe 4 or 5 of them related to aircraft or Autos. Cardboard boxes to rocket engines.

????? We can pay our bills. And if the US government were to not pay its debt bill, then there wouldnt be any point in them continuing to loan more money to the US government. A true horror if you are a politician who gets to dole out that borrowed money. On the other hand I wouldnt mind if government had to rely upon tax revenue collected and was prohibited by law from borrowing, so China not wanting to loan the money is ok by me.

 

I apologise for rounding off the exact number of murdered civilians at the hands of the US military

14,843,721

 

Your point? Rest of the world demonstrates that economies can function just fine without the ability to simply print dollars in order to import whatever they want. What makes you think America cannot? Japan functions as the 2nd largest manufacturer just fine, what makes you think we cannot survive as
#2? You make no sense. Just running around screaming the sky is falling without any rational explanation as to why that might be.