Majawala
Joined: 14 Oct 2005
Posts: 1806
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| the UnitedStates has today roughly $50-60 trillion in wealth |
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http://www.dailyfinance.com/2009/08/16/does-the-u-s-have-enough-money-to-solve-its-problems-wknd/
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In recent weeks, amid the health care debate, there's been a lot of misinformation regarding the wealth of the United States. So let's set the record straight: the United States has today roughly $50-60 trillion in wealth and investment capital, depending on how one measures each.
I'll repeat the low-end estimate for everyone: fifty trillion dollars. That's $50,000,000,000,000.
The United States: the golden door
In other words, despite the nation's most pronounced recession in more than a generation, despite the horrible housing slump, and despite the 2008 stock market plunge, the United States remains not only the richest nation in the world, but the richest nation and civilization the world has ever known.
No nation has ever created and amassed more wealth in absolute terms than the United States.
In other words, even with the numerous problems the nation faces - 47 million Americans (and climbing) without health insurance, the need for entitlement reform (including Medicare and Medicaid), the banking crisis/bailout, climate change, and the budget deficit - the issue is not whether the money exists to solve the problems, but who pays.
Here's another stat: wealth in the United States has roughly quadrupled in the past 30 years, but the median income of working-class Americans has declined, in real terms. And poverty rates, which had fallen throughout the 1990s, reversed this decade. If each problem -- stagnant wages in many job segments, and poverty -- is not addressed, it's my argument that the two will pose serious threats to both U.S. GDP growth and the nation's economic model, which would obviously be bad news for U.S. stock markets and investors.
Further, don't let anyone ever tell you 'the nation is bankrupt' or 'we have an unserviceable budget deficit and national debt.' If an emergency occurred and the nation was forced to do so, it could eliminate the budget deficit and national debt very quickly. If you doubt this, see paragraph two above.
but isn't the problem that most of the money is privately held? you cant force people to pay for problems even if the money is ill-gotten. |
Mon Aug 17, 2009 9:24 am |
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Captiv8
Joined: 25 Aug 2006
Posts: 8167
Location: Third Coast |
| Re: the UnitedStates has today roughly $50-60 trillion in we |
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Majawala wrote:
but isn't the problem that most of the money is privately held? you cant force people to pay for problems even if the money is ill-gotten.
Not with that kind of attitude. Sure, most of the money is privately held, meaning a good number of Americans never see it or reap the benefits of it. Naturally, people with a lot of money aren't worried about healthcare costing them money for themselves; they just don't want to pay for other people. You'd have to have Joshua Kane come here and explain the specifics of it. |
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Mon Aug 17, 2009 11:59 am |
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deboma
Joined: 19 Apr 2006
Posts: 174
Location: gvmo |
yo can i just have a million?
it would fix my problems real quick |
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Mon Aug 17, 2009 2:54 pm |
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Sarcastro
Joined: 27 Sep 2002
Posts: 3268
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deboma wrote:
yo can i just have a million?
it would fix my problems real quick
your problems go deeper than that. money will only make it worse. |
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Mon Aug 17, 2009 3:08 pm |
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Ardamus315
Joined: 21 Apr 2009
Posts: 490
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Sarcastro wrote:
deboma wrote:
yo can i just have a million?
it would fix my problems real quick
your problems go deeper than that. money will only make it worse.
true. as much as i want a cool milli to resolve my issues, the stigma of way too much other bullshit be attached to it. a price you'd pay...... |
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Mon Aug 17, 2009 5:09 pm |
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Captiv8
Joined: 25 Aug 2006
Posts: 8167
Location: Third Coast |
If I suddenly had a million dollars I'd probably be sued for it and I'd lose a chunk of it in an out of court settlement. |
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Tue Aug 18, 2009 6:38 am |
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Donato
Joined: 10 May 2007
Posts: 497
Location: Connecti cut it out! |
or you might be slammed in the cooler because of drug possession. 90% of Uncle Sam's green contains traces of cocaine. True fact. Source: http://www.cnn.com/2009/HEALTH/08/14/cocaine.traces.money/index.html?iref=newssearch
I didn't feel like we didn't have the money, but 50-60 trilli is nuts. I'd like to the percentage of which is tied into private caves. I bet it's over 60 percent. |
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Tue Aug 18, 2009 6:52 am |
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