Global Economy Question

Discussion in 'Money & Finances' started by Hal Pollner, Feb 12, 2019.

  1. Hal Pollner

    Hal Pollner Veteran Member
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    The US is in deep multi-trillion dollar debt, and so are many European countries.

    Are there any countries in the world who have an economic surplus ?

    Hal
     
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  2. Thomas Stearn

    Thomas Stearn Veteran Member
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    Germany has had a surplus for some years,e.g. €12 bn in 2018 but it doesn't mean anything. Having said that, there's a difference between a budget deficit and national debt that you seem to have in mind if I understand your first sentence right.
     
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    Last edited: Feb 12, 2019
  3. Babs Hunt

    Babs Hunt Supreme Member
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  4. Don Alaska

    Don Alaska Veteran Member
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    Norway is the only country of note that I know has a budget surplus of any size...now TRADE surplus is a different matter.
     
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  5. Don Alaska

    Don Alaska Veteran Member
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    This guy--the chief economist of the Bank of England--has recently said the British people should quit whining and just accept that they are worse of than in the past and will probably get worse. No such public message in the U.S. yet, but they will keep us blind as long as they can here.

    Bank of England
     
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  6. John Brunner

    John Brunner Senior Staff
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    I wonder what lifestyle he lives.
     
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  7. Thomas Windom

    Thomas Windom Very Well-Known Member
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    I confess that I cannot make heads or tails of global trade and economics. I also believe that there are very few people in government, and probably the banking sector, that can do so either. Most are just doing a job, turning the gears of the machine with little understanding of what the machine is. It is a huge chaotic mess, and I mean chaotic in the mathematical sense where small events can cascade into major crises. Maybe it’s better that I’m ignorant and don’t understand what’s coming.
     
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  8. Don Alaska

    Don Alaska Veteran Member
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    I think those at the top realize what is happening and want to control it, but seem to be unable to do anything but kick the can down the road, just as Congress does with the spending.
     
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  9. Mary Stetler

    Mary Stetler Veteran Member
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    Funny money is all that is being printed at the moment and I think it has been decided to use the catastrophe to force digital currency which will be funny money that we can't really see or know what we have.
     
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  10. Thomas Windom

    Thomas Windom Very Well-Known Member
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  11. Don Alaska

    Don Alaska Veteran Member
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  12. Yvonne Smith

    Yvonne Smith Senior Staff
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    Just read this, this morning, on Twitter, that we are at the end of many countries accepting the US dollar as backup currency, because it can no longer be used to buy oil , starting in November. Since just about ALL countries buy oil, no one will want US dollars if they can’t buy oil with them, and probably other commodities would also follow suit before much longer.
    This is pretty scary, if it is true, and many people on line are saying that this is actually happening. The end date is tomorrow, October 31, and from what I have read, it is also the end of the lease for the land of Israel, which started in 1948.

    IMG_5591.jpeg
     
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  13. Mary Stetler

    Mary Stetler Veteran Member
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    Venezuela is still taking dollars. But they don't like us much either.
    OH NO! We may have to have out oil and coal companies start producing again.
     
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  14. Mary Stetler

    Mary Stetler Veteran Member
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    The greenies may just start to figure this out. Trump had us energy independent. We were exporting some oil--not from our National Reserves. Solar and Wind cannot possibly produce the energy we need and electric cars don't sell so well without incentives. Where do the batteries and electricity come from that actually help our carbon footprints?
    Prepping might be a good idea.:rolleyes:
     
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  15. Don Alaska

    Don Alaska Veteran Member
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    I think dollars will still be used, but it won't be the sole currency--the Petrodollar-- that it has been in the past, so it will have a tremendous effect on our economy. Some have said the recent uptick in the GDP is foreigners buying our stuff with the dollars they no longer want since fewer countries now want to hold dollars. More and more nations are turning to BRICS for guidance, even Turkey and France are considering joining them. Pakistan and India both want to leave the Dollar as well. When all those dollars come home to roost, the inflation we have generated by running up a national debt and printing money--and so far have exported since we had the reserve currency--it will turn "Modern Monetary Theory" on its head.
     
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