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Forums - General - Why the US is a giant on staggering leg. Warning, massive wall of text.

 

Why the US is a giant on staggering leg. Warning, massive wall of text.

USA is doomed 5 29.41%
 
USA is semi-doomed 1 5.88%
 
USA is not doomed 5 29.41%
 
You are doomed 0 0%
 
Doom 3 was awesome 4 23.53%
 
Was not 2 11.76%
 
Total:17
badgenome on 24 January 2011

Doom 3 was awesome. Any word on when Doom 4 is coming?



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A203D on 24 January 2011

Tagged for later.



yanamaster on 24 January 2011
Kantor said:
yanamaster said:
Lostplanet22 said:

USA's debt is 67% of GDP..   You are talking about external debt and that is not the same.. Countries as Luxemburg have an external debt of 4.000% of GDP UK: 470% of GDP etc..

Also it may be true for now that the US is the biggest economy in the world, this does not mean anything in the grand scheme of things. the balance of power has been shifting to China, India and Brazil for some time now and i fully expect these three regions to dominate the US economically in time. china and India sooner rather than later. We're talking about not more than 10 years now.

India, China and Brazil have huge growth, yes. But none of them is anywhere near the USA at $14.6 trillion.

China could overtake the USA in the next quarter-century, but definitely not the next 10 years. By that point, it will have something like four times America's population. Brazil and India are nowhere near. Brazil is just over $2 trillion, and despite having a population only slightly smaller than China's, India has a GDP of less than $1.5 trillion. I don't see either of them overtaking the USA in the foreseeable future.

China needs the USA as much as the USA needs China. Sure, they would get some money to begin with. Then, the entire country would go bankrupt. China would lose all of the money it had invested in America. Gone would be the country that purchases more Chinese goods than any other country in the world. If China demanded debt repayment, it would be hit nearly as hard as America.

http://www.uschina.org/statistics/tradetable.html

Overall trade:

Rank Country/region Volume % change over 2008
1 United States 298.3 -10.6
2 Japan 228.9 -14.2
3 Hong Kong 174.9 -14.1
4 South Korea 156.2 -16.0
5 Taiwan 106.2 -17.8
6 Germany 105.7 -8.1
7 Australia 60.1 0.7
8 Malaysia 52.0 -3.0
9 Singapore 47.9 -8.8
10 India 43.4 -16.3

And exports only:

Rank Country/region Volume % change over 2008
1 United States 220.8 -12.5
2 Hong Kong 166.2 -12.8
3 Japan 97.9 -15.7
4 South Korea 53.7 -27.4
5 Germany 49.9 -15.7
6 The Netherlands 36.7 -20.1
7 United Kingdom 31.3 -13.3
8 Singapore 30.1 -6.9
9 India 29.7 -6.1
10 Australia 20.6 -7.2

Yes, this is kind of what i wish people would understand, just because something is right now doesn't mean it'll stay like that. It is more and more probable that the US government will have to take action to stop the growing debt and this will result in at least stagnation taking into account how bad the financial situation is right now. 

Simple calculation shows that in 10 years time china's gdp will be equal to the USA of today, if the growth remains the same for china. In the meantime i suspect that america will have another crisis being directly caused by bad management of debt.

Of course that is the pessimistic version. Optimistic one? don't see it really.

Edit: Sorry, i'm at work right now so i didn't manage to answer the whole post. 

Yes, it is very true that China is dependent on the US but that is because it's the easiest. China has not made a move into Europe yet, at least not anywhere as seriously as they had made towards USA. If you look into it, you'll realize that the only big chinese company in Europe is HSBC. Europe will also have to make a step toward China in the event that something happens in America. From the asian point of view, they will not hurt as much as one could suspect.

You also have to remember that South America and Africa are making constant great steps towards attracting new investments. Emerging markets have this thing in them that they do not heavily invest money in american or western european markets because they can't afford to. This allows many to survive financial turbulences. Poland is a prime case as during the whole financial crisis, it was the only country in Europe to continue having positive GDP growth. Economics on a macro scale is really tricky to predict, but there are some indications as to what might take place.



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Happy Wii60 user. Me and my family are a perfect example of where hardcore meets casual and together mutate into something awesome.

pizzahut451 on 25 January 2011
badgenome said:

Doom 3 was awesome. Any word on when Doom 4 is coming?


Was that even announced?



Badassbab on 25 January 2011
Lostplanet22 said:

USA's debt is 67% of GDP..   You are talking about external debt and that is not the same.. Countries as Luxemburg have an external debt of 4.000% of GDP UK: 470% of GDP etc..

No country could survive the sort of debt you've attributed to UK. Luxemburg is at 4 or 4000?

Source?






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badgenome on 25 January 2011
pizzahut451 said:
badgenome said:

Doom 3 was awesome. Any word on when Doom 4 is coming?


Was that even announced?

Yes, in 2008.



pizzahut451 on 25 January 2011
badgenome said:
pizzahut451 said:
badgenome said:

Doom 3 was awesome. Any word on when Doom 4 is coming?


Was that even announced?

Yes, in 2008.


Im, guees in 2012 than. Since this is Doom 4, I guees it will take them 4 years to make a game.



The_vagabond7 on 25 January 2011

I confess.....I voted for "was not" even though I only played Doom 3 for about 30 minutes....I'm sorry.



You can find me on facebook as Markus Van Rijn, if you friend me just mention you're from VGchartz and who you are here.

Lostplanet22 on 26 January 2011
Badassbab said:
Lostplanet22 said:

USA's debt is 67% of GDP..   You are talking about external debt and that is not the same.. Countries as Luxemburg have an external debt of 4.000% of GDP UK: 470% of GDP etc..

No country could survive the sort of debt you've attributed to UK. Luxemburg is at 4 or 4000?

Source?




The % =  External debt of GDP..

 United States 94%
 United Kingdom  416%
 Germany 155%
 France 188%
 Netherlands 470%
 Spain 165%
 Italy 101%
 Ireland  1004%
 Japan 42%
 Luxembourg  3854%
 Belgium  267%
 Switzerland  271%
 Australia  92%
 Canada 62%
 Austria  212%
 Sweden  165%
 Hong Kong  311%
 Denmark  196%
 Greece  167%
 Norway  143%
 Portugal 223%
 Russia 30%
 Finland  153%
 People's Republic of China  7%

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt