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leveymg

(36,418 posts)

27. That intra-gov't lending means the US public debt is actually twice what is officially listed.

Reply to Travis_0004 (Reply #22)

Mon Jul 6, 2015, 09:25 AM

Jul 2015

We are actually as fragile as any of the other over-leveraged economies of the West. Our middle-class consumer economy is a bubble based on false expectations of another bailout -- Krugman calls it Pangloss Value -- and it is highly exposed to contagion effects from both the Eurozone and China. The US financial system still hasn't fully recovered from '08, or '00 for that matter. Japan never recovered from its own collapse twenty-five years ago.

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Asia markets' Grexit bloodbath: Latest on stocks, FX, commodities [View all] brooklynite Jul 2015 OP

Great time to buy equities. Greece has an economy 1/8 the size of Italy. geek tragedy Jul 2015 #1

I feel like people Aerows Jul 2015 #2

You sound like Schulz or Barroso...lol. roamer65 Jul 2015 #4

The US has more debt (as a percentage) than Greece. Our "advantage" is jonno99 Jul 2015 #5

Greece has about twice as much debt as the US Travis_0004 Jul 2015 #7

Also, a very high percentage of our debt is an accounting gimmick--intragovernmental geek tragedy Jul 2015 #11

Its not really an accounting gimmick Travis_0004 Jul 2015 #22

But it's debt the government owes itself geek tragedy Jul 2015 #24

They owe it to me an you, and every american. Travis_0004 Jul 2015 #25

That intra-gov't lending means the US public debt is actually twice what is officially listed. leveymg Jul 2015 #27

I stand corrected - thanks (still way too much though - imho). nt jonno99 Jul 2015 #21

That's not correct. US's debt/GDP ratio is 71%. Greece's is 180%. geek tragedy Jul 2015 #9

I stand corrected - thanks (still way too much though - imho). nt jonno99 Jul 2015 #20

The real key is the cost of debt maintenance. Adrahil Jul 2015 #23

You are so wrong it's awesome. Where did you read this??? Yo_Mama Jul 2015 #30

One bad apple MannyGoldstein Jul 2015 #8

Markets freak out when there is uncertainty. geek tragedy Jul 2015 #10

Derivatives Turbineguy Jul 2015 #19

You should tell Bernie about that. delrem Jul 2015 #12

The discussion is about equities markets. geek tragedy Jul 2015 #13

Huh? I was approving of your democratic socialism, geek tragedy! delrem Jul 2015 #14

I in turn applaud your placing a higher priority on stroking your geek tragedy Jul 2015 #15

You say that your thinking doesn't help Bernie?? delrem Jul 2015 #16

So what are your recommendations for exploiting the Greek demise? riderinthestorm Jul 2015 #33

I personally do not trade stocks. geek tragedy Jul 2015 #34

Have read it will likely keep mortgage rates low into next year tomm2thumbs Jul 2015 #3

Let the markets have their temper tantrum bluestateguy Jul 2015 #6

Though, oddly, European markets haven't gone down so much muriel_volestrangler Jul 2015 #17

"U.S. crude suffering the biggest declines". To me this is good news, I'm happy with the extra cash! Sunlei Jul 2015 #18

Unless modrepub Jul 2015 #26

The Saudis have $900B in reserves. They'll take a larger stake in their JVs at cutthroat prices. leveymg Jul 2015 #28

Its a risk to invest in things like oil or gold and always expect the profits continue forever more Sunlei Jul 2015 #29

Much of this has little to do with Greece. No one's saying "China", because that's the elephant Yo_Mama Jul 2015 #31

Meh Art_from_Ark Jul 2015 #32