Holy ShiY!!!

[Destroyer]

Originally Posted by nymack66

No sweat, remember "debt" is wealth ! See the interest payment? Who is collecting? Its complicated the US is positioned to prevail period, irrational exuberance is on the horizon but we will prevail.
I will say it again the EU is the biggest threat to this nation's ecomonic power. Something needs to be done about it . We sat idle whilst the largest trading economic block in the world was created I will never understand why..

Ummmm...You're gonna have to explain that one to me. Debt is Debt...not wealth. It's an obgligation to pay for goods or services already received. If I pay someone to mow my lawn I'm in debt to that person for the agreed upon price. Once I've paid him/her then I'm out of debt. At no time did I acculminate any wealth from the transaction. If I purchase an item at a store then I'm indebted to the store until I pay them. True I have whatever item I've bought, but I would be hard pressed to call it wealth. Especially since most items decline in value over time or usage.

I agree wholeheartedly that the EU is a huge threat to our nation, but not the biggest threat. The biggest threat lies within our own borders... specifically, in the White House at the present time. Reread what Willy has said. Do what he's said to do... it will open your eyes like nothing you've ever seen before.

[Road King Cole]

I could see some debt = wealth if all the countries that we provided financial aid to payed us back...

[Destroyer]

Originally Posted by Road King Cole

I could see some debt = wealth if all the countries that we provided financial aid to payed us back...

Good point... and true. But we're still waiting for Russia to pay us the $400,000,000 they owe us from WWII. What do you think the chances are of the other countries paying us? LOLZ

[bradford]

Ya'll read The Creature from Jekyll Island.

[Destroyer]

Originally Posted by Road King Cole

I could see some debt = wealth if all the countries that we provided financial aid to payed us back...

An ammendment to my previous comment:

Actually, in your example we are not the country in debt. We are the creditor. So yes, we can make some wealth on someone elses debt in the form of interest payments, but we do not make any wealth on our own debts. In fact, we loose money when we are debtors in the form of interest owed. Debt does not equal wealth. Debt simply equals more debt.