[syndicate] The US Paradox

[Ivo Skoric]

No, I haven't - but I did succesfully declare banckruptcy in the US 
after taking loads of dough from large banks on credit cards - and 
they already gave me cards again. Until the next time. That's what I 
find so curiously amusing - people can go in debt and never pay it, 
and go in debt more. You just need to show brazenly careless attitude 
about that. Learn from the Bushes. The question still stands - for 
how long is that going to be possible. So far it is obviuous that 
since rich countries set the rules and print the money that is 
accepted as convertibile, they also give themselves loans at low 
interest while making poor countries to finance their default through 
higher interest loans - this looks pretty simple equation - poor 
countries have more people, they work for less money, buy goods for 
more money, and the difference covers social peace in the rich 
countries, where poor then can live relatively better off, and rich 
can amass inhumane wealth. The equation may hold only if there are 
more poor then rich people and more poor then rich countries - maybe 
that's why the US needs to go from time to time and bomb some upstart 
little country back into middle ages.
ivo
ivo

On 20 Sep 2003 at 11:06, Are Flagan wrote:

Re: 9/20/03 05:01, "Ivo Skoric" <ivo at reporters.net>:

> In the end, this is not such a bad bargain, for now, at least:
> people are given money, and they don't even have to work; they just
> need to spend, to keep the economy growing. Since all countries (and
> their people) - developed and developing, whatsoever - are already
> indebted to the kilt, the interesting question is: to whom are they
> indebted? And how if ever would this debt be resolved?

You forget that it is not a "bargain," in every sense of that word, 
in
most cases. Apart from the surplus luxury goods acquired by
near-solvent credit card holders, for example, it is a pretty
disastrous "bargain," usually quite devoid of bargaining power on one
side of the equation. In the global picture, Cancun showed what
happens when attempts at actual bargaining try to balance the books.
As for the end game, seen any good movies about Mafioso loan sharks
lately?

-af