Why is American spending $300B to re-build New Orleans????

That's over $600,000 EACH for the residents. Wouldn't it make more sense (given your DEBT) to cut your losses, give each resident some kind of payment and settle them elsewhere? Why must the U.S. government allow itself to be bullied by the media and the Democrats to waste money in such a terrifying manner? You have to stop spending money like the proverbial drunken sailor. Eventually, China (which holds a huge amount of your debt) will call in the loan.

-Rich

Reply to
Rich
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Rich wrote in news:ti29i19e4lmlqccf68v27rqcrc22k3n4c7@

4ax.com:

While I agree that rebuilding New Orleans (at least as it is) is a mistake, the China issue is not as you claim.

That accumulated Balance of Payments deficit.. not a 'loan'.. is part of Chinese State assets and it is not in their interest to have its value fall.

Dont forget, for all the lip service paid to its Marxist roots and governmental facade, China is REALLY run by "Red Army, Inc". And, indeed, is one of the success stories of modern capitalism, though it's obviously still in the works.

Too bad Fidel cant see the writing on the wall.

Reply to
Backyard Mechanic

You'd think he would have when Russian pulled their welfare payments to them. That was a long time ago.

-Rich

Reply to
Rich

Rich wrote

But for ALL that time, we've been giving Fidel a windmill to tilt against and a strawman to fight!

get this...

If we had dropped ALL the sanctions against Cuba in 1980, and recognized them with a handshake and "Bygones, eh Fidel?" He would have been LONG gone by now! OR he would have a nice thriving little social-democrat economy going on, nevermind the facade.

The ONLY way Marxism can compete with Democracy and capitalism is if the opposing team refuses to play!

Nixon went to China, and for all their puffery and growling they sure's hell aint gonna cut off their biggest market... and the longer this relationship goes on, the less likely it will be.

if an underemployed conservative republican engineer gets it, WTF cant the US Governemnt?

Reply to
Backyard Mechanic

Please don't take this as putting down your comment. That's not the intent. And I'm not a Democrat. I believe New Orleans should be rebuilt, but better. Just as after an earthquake, cities are rebuilt around the world, but with improved safety in mind. The same is true for tsunamis. There are coastal cities in Japan which have erected huge sea walls rather than abandon the places.

My first response is... because it is our country to do with as we see fit. It's our debt; though the debt is not the debt you seem to think it is.

I would never consider telling all the people who live in areas prone to repeated natural disasters to pack up, leave, and abandon that area. Not for Americans, not for Canadians, not for Japanese, or Indian, or anywhere else.

Consider the number of major earthquakes which hit the Pacific Rim, and the number of tsunamis. Consider the numbers of areas which are repeatedly destroyed by typhoons, hurricanes, tornados, major floods, and earthquakes. Would you abandon all those areas; never to rebuild; and force people who have lived there for generations to relocate?

Major civilizations have existed in zones prone to natural disasters. Rome/Italy with major quakes, floods, and volcano's. Egypt, and Summer with floods, Alexandria with quakes, Mexico with quakes and volcanic activity. The entire Indian Ocean region with typhoons, floods, etc. Japan with quakes and tsunamis. Those peoples have rebuilt time and time again. Your thinking would have abandoned them all.

On a world basis, your theory of abandoning a place which is at high risk would include most of the globe. When LA, or San Francisco, or Anchorage were hit by major earthquakes, you would have closed them down and moved everyone out? And all the people who farm the river valleys of the Mississippi and Ohio would have been driven off their lands? Any town which has been hit by more than one tornado would be erased? Let's see, we'd have to move everyone out of the Bahamas, and Florida. And Japan would have to be abandoned. Sections of Italy, of course. Guess they'd have to abandon Cairo eventually since the Sahara Desert continues to expand... and that too is considered a natural disaster.

What if it were your home, where your ancestors had lived, and where you had raised your children? How quick would you be to say,' abandon this place and never rebuild it'? What if it were a portion of your country destroyed by some natural catastrophe? Would you say to your fellow citizens, 'look, here's some money. Forget your ancestral home. Forget everything you grew up with... everything you ever knew growing up. Start over in a new place.' Would you want them to say that to you?

New Orleans was last flooded (majorly) around 1965. Forty years ago. Meanwhile, Florida gets blasted every year by hurricanes which do billions of dollars destruction each. Why should New Orleans be abandoned more quickly than the majority of the state of Florida?

As for Ch>That's over $600,000 EACH for the residents.

Spike

1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok Vintage Burgundy w/Black Standard Interior; Vintage 40 16" rims w/BF Goodrich Comp T/A gForce Radial 225/50ZR16 KDWS skins; surround sound audio-video.

Gad what fools these morons be.... Children are obscene but should not be heard Give me a peperoni pizza... or give me a calzone!

Reply to
Spike

China (and much of the Orient, for that matter) have curried favour with the U.S., taken huge amounts of money for their products but haven't allowed any semblance of competition from U.S. manufacturers into their countries. However, China is continuing to bump it's commie head up against the freedoms that have come with pretending to run a free market economy. The latest is VOIP, or telephony over the internet. It's SO hard to oppress people when they've been exposed to a free market!

-Rich

Reply to
Rich

I think you are missing part of the picture. We sell bonds and China buys them with US dollars that they have gotten from us buying stuff from them. If China wants it's money back they stop buying our bonds (debt). Same is true with the other countries who have purchase our bonds, they always have the option to stop buying us bonds and buy someone else's. If and when that happens who does the US sell their debt (bonds) to? As fewer and fewer people want to buy our debt we have to offer ever higher interest rates to make them interested in buying again. As our economy becomes less sound, and as our countries debt and deficit go ever higher our bonds become less attractive, just as General Motors Bonds would become less and less attractive if GM starting going in debt and also was losing market share and having to borrow more and more money to stay afloat. That's where the US is now

- we owe everyone money (we have a huge debt) and continue to spend MORE everyday then we take in from taxes (deficit). If you did that same in your personal life you would wind up in bankruptcy in fairly short order. The only reason the US isn't considered bankrupt is because the US always has the option of taking MORE of your money in taxes - all it takes is a quick vote in DC.

Reply to
Ashton Crusher

Ashton Crusher wrote in news: snipped-for-privacy@4ax.com:

No, i didnt miss ANY of it!

While what you are saying is true in the abstract it butts up against reality. The bonds truly reflect on the national GDP.. in that they are a "call device". It's the same as holding notes, itself; Too much traffic and the remainder loses value.

While the Euro was strong it looked like we were in trouble... but that bubble burst and the dollar holds. All because of the European collective GDP..and now it looks as though the Sterling will remain currency because of the inhibiting social program costs in Europe.

What IS a worrying effect is that despite adjustment the Yuan is still artificially low. But that ALSO has a dampening effect. China cannot exercise its call without increasing value of the yuan against the dollar.

look what happened to yen when Japan it used many of its dollar reserves! And then Japan came out of the 'neverland' phase to face a very long recession.

Reply to
Backyard Mechanic

Well up to a point you are right, but the large majority of those displaced by the Hurricane are going to come out smelling like a rose. I can see it now the slum area is bulldozed and brand spankin ass low cost/public housing is built in the area and in five years it is a slum again.

Reply to
ZombyWoof

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