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While US and China are holding talks in Washington DC the question arises - who has the upper hand in this negotiation? Co-founder of the Quantum Fund Jim Rogers says he would always like to be a creditor, not a debtor. More
Added May 10, 2011
Channel News
Duration 8:40 | views 40151
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Tags rt america rtamerica lauren lyster jim roger china us debtor creditor military spending inflation rmb investing advice finance commodities currency crisis debtor nation
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Recent Comments (193)
staplesart Says:
she is both very intelligent and very good looking.
100kby35 Says:
What is wrong with USA printing money? Wouldn't this fix the problem as then the US can pay off its debt with the printed money. Sure there is inflation, but this inflation will reduce real wages in America, which reduces company expenses thereby increasing company profits. Higher company profits means greater company tax revenue flowing into the US Treasury, which helps the US pay off its debt even more. Printing money seems to be the answer!
RYANMOW Says:
damn thanks for that comment now i really need to go back to learn some history lmao
sljs1010 Says:
I wish she would do Naked News
moistfaucet Says:
, hahahah......agree bro.
moistfaucet Says:
you don't blame FED about the credit. if no credit it will be no economy. it is because the country spent more than earn and did not stop. this is the result. FED help boost the economy. D.C. does not like to be told that FED does not have money.
ssgkillsuall Says:
shows what you know the federal reserve was founded in 1913 this guy is an idiot look at japans national debt look at the total debt of the EU
Armigo91 Says:
All of united states skyrise citys like new york (manhattan) are all built on debt. Prove? Well... in 1933, most of the united states and most of manhattan consisted of 3-4story buildings. Few years later, skyrises were built for the first time. Because in 1933, the federal reserve was found, and began printing money. The united states always has been an A or B class economy. Not triple AAA. Cause it got his AAA status trough debt only. Just imagine how hard they will fall.
BobbyWarrenMiller Says:
Former US Senate candidate B.W. Miller says, "Our goal is to control all of Europe. We have troops in most European countries and the ironic thing is these Europeans think we are there to help protect them. The Devil's best trick was convincing the world he didn't exist. We are sociopaths, not capitalists. We either control the world or we will destroy it."
PoseidonHermes Says:
The US is only 300 years old and it has been giving iran lessons, iran which has 6000 years old history. After 300 years, already bankrupt ?? The problem is that the US lost its chance of becoming a dream place because of politicians who bankrupted it due to improper foreign policies ( wars, defense spending, supporting dictators) as well as domestic policies( sub primes, credits, waste ) Go learn how Rome fell apart and prepare urselves
jrm404 Says:
Also look at the debt to GDP ratio. It is almost 1/1. This has never happened before and come August the debt limit will be raised again. So the debt is going to continue to get higher as a slow burn takes place on the dollar. The dollar will be debased. Maybe not tomorrow but within next few years. Inflation will continue to skyrocket on food, fuel and other commodities. 74 million Baby Boomers are retiring at 7000 per day now and they will be on fixed incomes.
jrm404 Says:
Oh I agree the education system is deteriorating. One big waste of money is The Department of Education. We should do away with it. Until the housing market rebounds the unemployment situation is going to get worse. Its too bad we don't have enough qualified people for jobs but most of those jobs aren't bread winning jobs. They are service jobs. Sure there are a lot of engineering, medical and such. There always have been.
jrm404 Says:
Also the problem is College is getting too expensive because of government loans. Kids come out of college 200 to 300 thousand dollars in debt. They have a mortgage by the time they graduate. Only the very wealthy will be able to afford college soon or they will have to join the military. Even during the first Depression unemployment was low for college graduates. That doesn't mean anything because the reality is 9.1% unemployment and 44 million on Food Stamps.
jrm404 Says:
Who in Washington will have the political will to cut Social Security, Medicare, government pensions and Military. Nobody! Whoever does commits political suicide. Only a true Statesman that would give up reelection for the good of the country. Not a career politician. There will be deadlock over spending cuts and raising the debt limit. An aging Baby Boomer population wants their Social Security and they are all voters.
jwhat01 Says:
The jobs are already back. There are not enough qualified people to fill them. 50% of corps report trouble finding qualified people for "mission critical" jobs. Monster index has 4.1 million job openings online RIGHT NOW. A record. We have a nation qualified for nothing more than burger flipping. They are dumbed down by generations of government schools. The unemployment rate is 4.5% now for those with a college degree. Thats as low as it gets. Low rates R from deleveraging.
jwhat01 Says:
I concur that we should have slashed them long ago, and never should have started them. They have screwed up EVERYTHING. Socialism doesnt work ever....it only gives the appearance of working for a little while. Also concur that politicians will hike tax rates, but it doesnt make it "right" or smart. It will, in fact, reduce the amount of tax revenue that would otherwise come into the Treasury. Concur government needs to be lean and mean and stick to its Constitutional bounds.
jrm404 Says:
Interest rates are going nowhere. Bernanke said it in the Fed meeting. The jobs aren't coming back. We are in a Depression and they only papered over it with stimulus and bailouts for the too big to fails. When the stimulus is gone America will wake up to the fact that we are in the second greatest Depression. There will be more stimulus in the future. 44 million Americans are on Food Stamps (The new government soup line). Unemployment may never fall below 7% in my lifetime. I'm 52.
jrm404 Says:
We should have slashed those programs a long time ago. But wait and see there will be tax hikes too. Austerity is coming to America. They are already playing with eliminating mortgage deductions. I don't like the tax hikes but they will come no matter who you vote for. Whoever has the political will to cut Social Security and Medicare will raise taxes too. Government needs to be smaller, lean and mean. Government pensions will be slashed also.
jwhat01 Says:
So, how high will interest rates go next week when the Fed stops buying bonds? 2 month T-Bills were trading today at 4 basis points of yield. FOUR. Investors would welcome higher interest rates on Treasuries, and it would be a sign that the economy is improving. The Fed has absolutely NOT been "printing money." The Dollar never traded below where it was when QE2 was announced until the Fed announced it would end. M2, money in actual circulation, barely increased 5% in a year.
jwhat01 Says:
Paying off the debt absolutely does NOT mean "tax increases." It means increasing tax revenues. VERY different.That does NOT happen by raising tax rates and adding rules to collect tax on more activities. Taxes come from profits & paychecks. The ONLY way to pay down our debt (we do not have to "pay it off") is to generate MORE profits & MORE paychecks. BIGGER profits & BIGGER paychecks. Tax hikes on those 2 will limit economic activity and limit tax revenue. ALWAYS been true.
jwhat01 Says:
@jrm404 You never answered why you think that a trade deficit is bad. Slashing, or eliminating Social Security, government pensions, & Medicare would be VERY beneficial. Each of those are bankrupting our country. None are sustainable. All of them misprice assets and risk. People get back more than they ever contributed to Social Security their whole lives in only 4 years. From then on it has to come from "other people's money." ALL of these programs are socialist redistribution CRAP.
jrm404 Says:
If the Fed loses control of interest rates through low Bond yields or if Bernanke raises interest rates to strengthen the dollar we are screwed. The Fed can't raise interest rates at 9.1% unemployment. So inflation will continue. An interest rate hike of one basis point or .25% would negate any tax hikes or spending cuts. .25% interest hike on 14.5 trillion dollars debt would mean billions of dollars added to the debt in interest.
jrm404 Says:
Now for Bonds and Treasuries. China has slashed buying U.S. Treasuries by 30% and so has Russia. Japan is selling its U.S. Treasuries to rebuild. The Fed has been printing money and buying the Bonds through Quantitative Easing because they can't sell them anywhere else. QE ends this week.
jrm404 Says:
If we have so many manufacturing jobs then why such a huge trade deficit. The abolishment of the Glass Steagal Act in 1999 by a Republican Congress and Democratic President has changed things. Banks in America can now run their casino in Credit Default Swaps and other derivatives. The Euro won't make it. The only way we can pay off our debt is by huge cuts and large tax hikes. This means cutting Social Security, military, government pensions, Medicare along with tax increases.