Re: Serial Electric Hybrid (Re: The Financial Crisis is much worse than you think....)

On Sun, 16 Nov 2008 11:50:03 -0800 (PST), cryptoguy
<treifamily@xxxxxxxxx> wrote:

On Nov 15, 3:17 pm, "Keith F. Lynch" <k...@xxxxxxxxxxxxxx> wrote:
cryptoguy <treifam...@xxxxxxxxx> wrote:

What you actually said was that, for the US, 'food is nearly all
grown overseas'.  I'll concede that's a slightly different claim.
Its still absolutely wrong.  Do you still stand by it?  If so, on
what basis?

That seems to be the case based on looking closely at a representative
sampling of foods in several grocery chains in Virginia, Maryland,
and DC.

Of course it could be both that most food eaten in the US is imported
and that the US exports more food than it imports, though that doesn't
seem likely.

The point I was making was that the US appears to be exporting little
except jobs.  Food?  Maybe.  Steel?  No, Japan undersells the US.
Electronics?  No, that's mostly made in Japan or China these days,
even the US brands.  Oil?  Definitely not.

I was trying to convince people that the US economy was on the verge
of collapse.  I think my point has since been made for me.

If you think thiis is 'the verge of collapse', you have no idea. Read
up
on the Great Depression, when only 3/4 of the people had jobs.

Maybe Keith should take a trip back to Iceland if he wants to see an
economy actually on the verge of collapse...

http://www.ft.com/cms/s/0/66c87994-aec1-11dd-b621-000077b07658.html?nclick_check=1

"Picture a pig trying to balance on a mouse?s back and you?ll get some
idea of the scale of the problem. In a mere seven years since bank
deregulation and privatisation, Iceland?s financial institutions had
managed to rack up $75bn of foreign debt. In his address to the nation,
Haarde put the problem in perspective by referring to the $700bn
financial rescue package in America: ?The huge measures introduced by
the US authorities to rescue their banking system represent just under 5
per cent of the US GDP. The total economic debt of the Icelandic banks,
however, is many times the GDP of Iceland.?

And here is the nub. Iceland?s banks borrowed more than $250,000 for
every man, woman and child in Iceland, and placed an impossible burden
on the modest reserves of the central bank in the event of default. And
default they have."
--
"Yeah, I remember when I had my first beer."
- Steve Martin responding to a heckler on
the album A Wild And Crazy Guy
.

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