Re: US on the rocks. Rank Order - Current account balance

On Feb 27, 5:42 pm, Tchiowa <tchio...@xxxxxxxxxxx> wrote:
On Feb 27, 11:20 am, Chabon 19 <chabo...@xxxxxxxxx> wrote:



On Feb 27, 5:50 am, สับปะรด <sapa...@xxxxxxxxxxxxxx> wrote:

Account balance estimates from CIA World Fact Book ( published 12th
February 2008 )

1st: China with $ 363,300,000,000

2nd: Japan with $ 201,300,000,000

3rd: Germany with $ 185,100,000,000

5th: Russia with $ 74,000,000,000

10th Singapore with $ 41,390,000,000

14th: Canada with $ 28,460,000,000

30th: Thailand with $ 8,619,000,000

161st: United Kingdom with $ -111,000,000,000

163rd ( last place ): United States with $ -747,100,000,000

Rank Order - Current account balance:

https://www.cia.gov/library/publications/the-world-factbook/rankorder....

Current

account balance: This entry records a country's net trade in goods and
services, plus net earnings from rents, interest, profits, and
dividends, and net transfer payments (such as pension funds and worker
remittances) to and from the rest of the world during the period
specified. These figures are calculated on an exchange rate basis,
i.e., not in purchasing power parity (PPP) terms.

https://www.cia.gov/library/publications/the-world-factbook/docs/note....

peace

Thanks for a very interesting fact ***! I am sure that our resident
Mr Tchiowa will find that it is a good thing to be that much indebted

"Indebted"??? Once again you've proven that racists like you aren't
very bright.

The Current Account Deficit is the difference between imported goods
and services and exported goods and services. It has exactly *ZERO* to
do with debt indebtedness.

What it means is that the US has a comparatively high domestic economy
and relatively high wages. China has no domestic economy so the only
place it can sell its goods is overseas. Plus the low wages make their
exports cheap.

The US has run a Current Account Deficit for decades. Too bad you
don't understand what that means.

Thanks for the usual entertainment.

Dear Tchiowa,

I can understand that you have a big problem here, because this is not
Pattaya4you where you can use your usual Sex-Tourist knowledge, the
domestic economy is, or has been discussed as Testimony before the
Budget Committee of the United States Senate.

There much brighter heads than yours said:

Our external deficit has risen by an average of $100 billion annually
over the past four years. It has climbed by an annual average of $80
billion for the past nine years. The trajectory, as well as the level
of the imbalances, is clearly unsustainable.

There are a few signs that the sharp and steady rise of the US current
account deficit may be leveling off. Excluding the impact of much
higher prices for oil imports over the past year, the aggregate
deficit is largely unchanged. Our trade imbalance with Europe has
declined modestly, due to a pickup in European growth and the lagged
effects of the substantial decline of the dollar against the euro in
2002–04. Our exports have risen about twice as fast as our imports
over the past couple of months for the first time since the late
1980s, after the sharp dollar fall of the previous three years. (That
currency adjustment, combined with the recession of 1990–91, virtually
eliminated our external deficits in the early 1990s.)

The Risks to the US Economy

Even at their present levels , however, our current account deficits
and external debt pose unacceptable risks to the US economy and US
foreign policy. A country that spends more than it earns has to
finance its deficit just like an individual who spends more than she
or he earns. Hence the United States must attract capital inflows of
almost $4 billion from the rest of the world every working day to
finance our current account imbalance. In addition, the United States
makes large investments around the world that average between $500
billion and $1 trillion per year. These investments too must be offset
by capital inflows so our total international funding requirement is
on the order of $8 billion every working day.

As a result of these pervasive deficits, the United States has
compiled a net foreign debt that reached $2.7 trillion at the end of
2005 (the latest date for which full data are available). An even more
important number is our gross foreign debt of almost $14 billion
because this measures the huge stock of dollar assets held around the
world, most of which could be converted into other currencies or
assets at almost any time.

Please read: The US has compiled a net debt that reached 2.7 trillion,
and a gross foreign debt of almost US $ 14 billion.

Now maybe you can read, although as said it is a bit higher than your
usual contributions to the sex life of Pattaya, that the Budget
Committee of the United States Senate uses the word DEBIT?

(The full title of those lines:
Speeches, Testimony, Papers
The Current Account Deficit and the US Economy by C. Fred Bergsten,
Peterson Institute, Testimony before the Budget Committee of the
United States Senate
February 1, 2007)

OK now go back and post again in Pattaya4 you, as this here seems
simply to high for your to comprehend!

55555
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