And those people that think the rest of the world will go down with the US are still dreaming in the 80s

Well if the US goes down, I have family in Europe who will bail me out.

Funny huh? After a hundred years we still have contact with our family across the Atlantic Ocean.

> Han wrote:
>$700B a year importing. How do you pay for it?
>With land and buildings.
>UAE group just bought the Crystler Building.
>Its like what happened to the natives, sell your land for beads. In this case you're selling your land for cheap chinese crap.

The US economy is 13 794 000 000 000
So 700 000 000 000 represents only 5% of that. So it would take 20 years for America to sell off all its wealth - that is if its economy did not grow. In truth the economy is more complex than this. Afterall is Nike imports $5 worth of shoes into USA then the value added goes to a US company. Economies should be measured in value added, not always raw data. This $700bn is about the same as Russia's, China's and Germany's export surpluses combined. All their economies come to ~11 000 000 000 000

> Black_Wing wrote:

> Well Put Mace.

As well, US owned holdings overseas are about 2.5-3 times the foreign holdings of proper US Property.

Even so, 7B is a mere pittance.

US EXPORTS grew at 2.5% last qtr as well.  Cheaper dollar, makes for attractive US Products.
Yeah and the devaluing of my assets. Do you think I appreciate that a whole lot?

" I continue to dollar cost ave. my positions in Citi and now in Bank of America."

LMAO

you'll be able to buy the whole company when it hits 0
not so long ago you were buying alcoa, genius.

If people do the exact opposite of what you say they'll make huge amounts.

Short BOA and Citi.

is that the dot dot com?

> Question wrote:

> ... I guess most of us were not around during the great depression.  Virtually every country in the world was suffering.  You think 5-10% unemployment is bad what happens when the global average for "developed" economies approach 25-35%.  This "short term" pain that we are seeing is NOTHING.  But if it gets worse it can get alot wosre.>>

Who cares? The poor people can just build more Hoovervilles, and there will be more prostitutes and thus lower prices.

Today
C down 6%
BAC down 7%

Good job on those calls BW, LOL

Im still in AA...Alcoa.   Im also BIG on SGR

I also road C up and road it down on a short.

C and BAC are short-term plays for position

And, I will be in for more tonight.

Han  have you moved the Food and Beverage into the bunker yet ??   Make sure you bring your Copies of CNN and the NY Times for entertainment in your secure redoubt.

"It's called long term growth"

"C and BAC are short-term plays for position"

LOL

And this

"I also road C up and road it down on a short."

I also road my horse yesterday, lmao

How does causing bank runs win elections?

btw if global warming and CO2 is increasing the air pressure, why does it seem to be the same everywhere on the air pressure with old air pressure? hmmmm.... maybe the sky is falling, oh my!