U.S. Current Account Deficit Sets Record...
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Anonymous
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 Dr. Lecter wrote: Krem wrote: How do you know that?
For me (and my children), it's better to invest my money into a new business rather than spend it on taxes We live in a world risk society. That means that you might inherit your business to your children thinking that their future is taken care of, but all of suddent they might lose everything....and who is supposed to support them if not the state? Or if YOU lose everything....you'll have to rely on Social Security. Not if I save enough money for myself. If there is no Social Security to begin with, then I know not to rely on it, so I take measures to create my own retirement plan (I'm doing it anyway, but that's besides the point). Dr. Lecter wrote: Krem wrote: What you also have to learn is how to base the debate on the premises that everyone can agree with.
Your original argument was based on the premise that the current account somehow tells you something about how well the economy is doing. It doesn't. All it tells you is whether we're buying more goods abroad than we're selling. Krem wrote: Without agreeing on the premises you can't have a valuable debate. For instance, if we were to debate about the future effects of Global Warming, it'd be pointlesss, unless both of us agreed that the Global Warming phenomena existed in the first place. You know that for instance there are people who disagree with the fact that Holocaust ever took place, right? So that means you can't discuss with them about it? You can have a debate with them on whether or not Holocaust took place. You can't have a debate with them on what kind of effects Holocaust had on the Jewish population. See the difference? Dr. Lecter wrote: Krem wrote: Dr. Lecter wrote: I consider the fact that the USA imports more than it exports not a good thing as simple as that. It's like having a store selling less than you invest. Not the best of an example, but still. No, it's more like having a store selling you something for cheaper than you can make it yourself. It only makes sense for you to buy it. You buy, but you don't sell anything yourself.... You don't have to. Your neighbour trusted you with his money, because he thinks you'll put it to good use. You're making some profit off of that.
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| Tue Dec 21, 2004 3:06 pm |
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Dr. Lecter
You must have big rats
Joined: Sat Oct 16, 2004 4:28 pm
Posts: 92093
Location: Bonn, Germany
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Krem wrote: Not if I save enough money for myself. If there is no Social Security to begin with, then I know not to rely on it, so I take measures to create my own retirement plan (I'm doing it anyway, but that's besides the point). Okay, that's YOU. But didn't you say that Americans is a consumer society which problem is that they DON'T save money?  Krem wrote: You can have a debate with them on whether or not Holocaust took place.
You can't have a debate with them on what kind of effects Holocaust had on the Jewish population.
See the difference? Well, I DO debate on you whether the account deficit is bad for the economy or not. Krem wrote: You don't have to. Your neighbour trusted you with his money, because he thinks you'll put it to good use. You're making some profit off of that. The USA makes profit off the imports? _________________The greatest thing on earth is to love and to be loved in return!
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| Tue Dec 21, 2004 3:10 pm |
 
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Anonymous
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Dr. Lecter wrote: Krem wrote: Not if I save enough money for myself. If there is no Social Security to begin with, then I know not to rely on it, so I take measures to create my own retirement plan (I'm doing it anyway, but that's besides the point). Okay, that's YOU. But didn't you say that Americans is a consumer society which problem is that they DON'T save money? You know why? Because they DO rely on Social Security. Even if that wasn't the case, it wouldn't make one iota of a difference to me. Social Security is all about redistribution of wealth. As you might have gathered by now, I consider forceful redistribution of wealth to be immoral and akin to theft. Dr. Lecter wrote:
Well, I DO debate on you whether the account deficit is bad for the economy or not.
Now you are. Before you were presuming that current account deficit is invariably bad for the economy. Dr. Lecter wrote: Krem wrote: You don't have to. Your neighbour trusted you with his money, because he thinks you'll put it to good use. You're making some profit off of that. The USA makes profit off the imports? No, the USA makes profit off the foreign investment.
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| Tue Dec 21, 2004 3:17 pm |
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Dr. Lecter
You must have big rats
Joined: Sat Oct 16, 2004 4:28 pm
Posts: 92093
Location: Bonn, Germany
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Krem wrote: Even if that wasn't the case, it wouldn't make one iota of a difference to me. Social Security is all about redistribution of wealth. As you might have gathered by now, I consider forceful redistribution of wealth to be immoral and akin to theft. I am absolutely fine with redistribution of wealth. I might see it otherwise when I become rich. Dr. Lecter wrote:
Now you are. Before you were presuming that current account deficit is invariably bad for the economy.
I still am, you just persistantly disagree  Krem wrote:
No, the USA makes profit off the foreign investment.
And in what relation does the foreign investment stand with Amircan imports? _________________The greatest thing on earth is to love and to be loved in return!
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| Tue Dec 21, 2004 3:23 pm |
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Anonymous
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Dr. Lecter wrote: Krem wrote: Even if that wasn't the case, it wouldn't make one iota of a difference to me. Social Security is all about redistribution of wealth. As you might have gathered by now, I consider forceful redistribution of wealth to be immoral and akin to theft. I am absolutely fine with redistribution of wealth. I might see it otherwise when I become rich. So when an armed poor man comes up to you and takes away your money, you'd be alright with that? After all, we're only talking about forceful redistribution of wealth. Dr. Lecter wrote: Krem wrote:
No, the USA makes profit off the foreign investment.
And in what relation does the foreign investment stand with Amircan imports? We're back to square one.
Foreign investment surplsu offsets the current account account deficit in the Balance of Payments equation. Meaning that the bigger your current account deficit is, the more foreign investment your country sees.
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| Tue Dec 21, 2004 3:29 pm |
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Eagle
Site Owner
Joined: Wed Sep 15, 2004 1:09 pm
Posts: 14631
Location: Pittsburgh
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The trade deficit for me, is nowhere near as big of a concern as the Budget defecit, which coincedently is what Bush has claimed he will lessen.
I never understood how some of the smartest people in this nation could overspend so badly. Then again we are afterall a nation that loves credit cards.
If they can get that under control, I will be happy.
KJ
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| Tue Dec 21, 2004 3:31 pm |
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