It's June 16, 2024, 06:09:21 AM
Ant:Mr Buffett said in the last 10 years foreign powers and their citizens had accrued about $3 trillion worth of US debt and assets such as equities and real estate. At current rates, he predicted that in another 10 years' time the net ownership of the US by outsiders would amount to $11 trillion.it takes a conspiracy theorist to make sense of this. ultimately, the concentration of wealth and ownership in the hands of a small group of people has exponentially increased, we're talking about the ultra rich and huge multl-national corporations. as a byproduct, the same economic policies and deregulations that have promoted these trends have been taken advantage by foreign corporations and governments. ultimately that doesn't matter. the consequences that buffet are talking about ultimately takes the largest toll on the ability to create and access wealth and not maintain it. it's not the ultra-rich that will bear the burden, it's the average joe. multi-national corporations will be well suited to endure an american economy that's unable to promote investment and job creation, (because of high interest rates and such) as they have interests and investments globally.and these foreign governments that own so much u.s. debt will be spending that money on these huge multi national corporation in construction projects, defense spending, and simply encouraging additional investments within their own borders to help strengthen their own economies.basically there's no sense of nationalism in current american fiscal policy. the policy makers are not acting to make america great, but to make their supporters and investors great.get rich or get left out.
Quote from: Don Rizzle on May 10, 2006, 03:16:12 AMiraq would just get annexed by iranThat would be a great solution. If Iran and the majority of Iraqi's are pleased with it, then why shouldn't they do it?
iraq would just get annexed by iran