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Death Toll Rises After Massive Quake, Tidal Waves

 
  

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FinderWolf
19:22 / 31.12.04
Funny how we can give so much to other countries when we're really deep in debt to other countries. I keep reading articles about how the US economy might collapse since we're so heavily in debt to other countries around the world. (I'm not saying we shouldn't give as much as we can to relief efforts, far from it -- I'm just wondering if giving this amount of money when we're so heavily in debt to other countries, and with the dollar being so shitty now, will have long-term effects down the road for the US economy as it stands in the world. Not to mention our domestic debt.)

>> I don't feel numb or disconnected about this because, I think, I spent yesterday researching an awful prophecy story about this (four prophets say U.S. is next!),

Dare I ask what you read that was prophecying this? Should such a discussion (about predictions of this disaster) go over in the Temple thread about all this?
 
 
■
00:34 / 01.01.05
might collapse since we're so heavily in debt to other countries around the world.

Forgive me if this doesn't make much sense, but it's very late and I won't get a chance to post for a few days. The difference is that the US mainly is in debt to a) its own rich citizens (and banks, pension funds etc) who own treasury bonds etc and b) rich citizens in other countries who own such bonds. This does not mean the US is in debt to other countries. It means that currency fluctuations and stock market speculations could conceivably screw the economy. In the case of developing nations they are almost wholly directly indebted to other countries and the World Bank/IMF (usually paying interest payments several times larger than the original loans every year). My brain isn't quite up to explaining the knock-on effects of cancelling each type of debt at the best of times, but there is a big difference.
 
  

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