14 September, 2006

Debt Undermines AmeriKwa & the Anglosphere

Posted by alex in Daily Reckoning, debt, economy at 4:01 pm | Permanent Link

[From Daily Reckoning]

Nothing fails like success.

As recently as a half-century ago, the American stood like a colossus in a New World…young, free, healthy; and a creditor to the rest of the world, which owed him not only money…but liberty, for he had lent his muscle, his oil, his manufacturers – and even risked his life to win World War II for the Allies.

“What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?” asked Adam Smith.

Here at The Daily Reckoning headquarters, we too are occasionally beset with bouts of debt-free happiness. But we count on our natural gloominess to get us through.

But…what about people who have more debt than any one else…whose health suffers from too much sustenance…and whose conscience is encumbered with a bloody war made on people they didn’t even know, for a purpose no one knows? Can they expect happiness?

As to their conscience and health, we have no opinion. But as to their debt we have many.

Fallen into our hands is a report from the CIA, ranking nations in order of their current account balance. The current account, we remind readers, is like the operating statement of a business or an individual. Income must exceed outflow or your upkeep is your downfall. The difference between what comes in and what goes out, if it is positive, accumulates as though it were a profit. If it is negative, it builds up – but not necessarily, in the form of debt.

So what do we see? The country with the best position is Japan – with a current account balance of plus $165 billion. China is in the number two position, with almost as much. And here we pause to give readers a chance to gasp. China – a country run by communists – has the second best current account balance in the world. Figure that. In other words, Marxism…at least as practiced in the Middle Kingdom…has proven no bar whatever to capitalist success.

But we will move on…

Germany is the third most ‘profitable’ country in the world – with a positive current account balance of $115 billion. Then the list goes into various oil producers, watchmakers, and assorted national curiosities…such as Algeria…with – would you believe it – has an $18 billion surplus! Even tiny Hong Kong ended last year nearly $20 billion to the good.

But between Swaziland and the Comoros (which, we believe is an island nation somewhere off the coast of Africa) the figures make the kind of transformation that can only be likened, in the material world, to going from light to darkness, or in the sentient world, from life to death. That is, they go from positive to negative. The numbers which were such a comfort to Germany and such a delight to Japan become an embarrassment.

Poor Burkina Faso, perhaps the most God-forsaken hole on the surface of the whole planet, suffers a $438 million deficit and still manages to hold its head up in public.

“Hey, wait a minute,” said a friend at a dinner party recently, “Burkina Faso is not so bad. My wife and I love to go there for desert trekking. There is nothing there…no restaurants…no hotels you’d want to go to…no theatres…not much of anything. But out there in the natural world… in the desert, there is a quality that is sublime. I wish I could describe it to you…but you have to see it for yourself.”

That said, at least Burkina Faso is far from the worst on the CIA’s list. The rest of Africa follows…and then come the Banana Republics of Latin America…and finally, guess who makes the end of the line-up? Guess who has the worst current account deficits in the entire world? Guess which countries spend more than they earn – regularly and spectacularly?

Last in line are the nations of the Anglo-Saxon, English-speaking debt-based empire! New Zealand has a deficit of nearly $10 billion. Then, South Africa…and India…and Australia all have deficits too. Among the major former colonies of the British Empire, only Canada seems to have any sense. It runs a surplus. The others are all debtors. The UK itself is third from the bottom with a $57 billion negative current account balance.

For no reason we can think of, the penultimate on the list is Spain. And then comes the worst of all…the United States of America, with a current account balance of a minus $829 billion.

Add up all the deficits of the entire world and you get a figure barely half of the U.S. total.

The U.S. economy makes up a quarter of the world total…that it should have more than half of the world’s current account deficits is a spectacular success – only made possible by its great wealth and status.

And here, in yesterday’s news, comes the latest: “Record $68 billion trade deficit in July,” reports Bloomberg.

Nothing fails like success.


  • 20 Responses to “Debt Undermines AmeriKwa & the Anglosphere”

    1. Angle Says:

      This is a measure of jew infestation more than anything. That same Anglo sphere was in the black 50 years ago as the artilce mentions.

    2. Olde Dutch Says:

      The US has a current account deficit of around $208 billion dollars according to the BEA(Bureau of Economic Analysis).
      https://bea.gov/bea/newsrel/transnewsrelease.htm

      The $829 billion dollar figure is the dollar amount/value(?) of foreign owned assets in the United States. Let’s not forget that good old White America was the worlds safe haven for investment. So the story exaggerates, and confuses current accounts with balace of paymnets numbers.

      The growth in current account is more worrisome,i.e. the $208 billion dollar number, than the big number which represents balance of payments a/k/a foreign investment in the US.

      Although, balance of payments, becomes problematic, if investment capital seeks greener fields or higher interest rates elsewhere in the world.

      Any questions?

    3. Shabbos Shabazz Says:

      “What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?” asked Adam Smith.

      No nigger, no spic, no kike. . .all white L.A.

    4. Dr Harry Says:

      While the current account deficit (CAD) is important, it only provides a part of the picture of a country’s economic state. What is important is to look at government debt along with a country’s CAD. Factoring in GDP is also necessary to get a clearer economic picture.
      An example is Australia. While that country’s CAD is significant, government debt is non existent and is in surplus. This with it’s strong GDP and current resources boom allows a much stronger and stable economic picture to emerge.
      What is of concern in Australia’s case however is the high personal debt, the transfer of wealth from native Australians to immigrants and offshore interests, the poor education in fiscal management at the personal level, and the disgusting expenditure at the state and local levels.
      Again the government has taken care of itself by selling state resources to fund surpluses while letting Australians drift into increasing personal debt. This has been mainly done through government stimulation of import programs (tax cuts) while merely paying lip service to properly educating its citizens in fiscal responsibility and promoting true value added exports.
      The bottom line is without a strong education base, personal fiscal responsibility (due to dumbing down consumerism), strong governmental fiscal restraint (spending tax dollars on expanding government), rolling back restrictive laws and excessive statutes and a tight rein on credit, a country can only live so long on it’s natural wealth.
      Australia’s natural wealth is staggering but I wonder if there is still time to save the country especially white Australians from the deseases inflicting the US.

    5. Dr Harry Says:

      Olde D says
      “The $829 billion dollar figure is the dollar amount/value(?) of foreign owned assets in the United States”

      With all due respect, this is erroneous statement and something I would expect from some jew.
      Of course I’m not implying you are such however such an approach is misleading in that it manipulates fiscal conditions so as to imply something is not what it seems.
      Again I am not implying that you are purposely doing this however, the bottom line is the $809 bil figure represents a country’s liabilities irrespective of semantics.
      Furthermore, these so called foreign investments were not in a form that would add wealth to the US economy (i.e. improviong the US technological base) but rather foreign owned value-added goods manufactured using mostly exported US technology and benefitting non US interests and intended by the promoters of such to impoverish the middle class. Such economic practices can only harm the ability of the US to retain it’s manufacturing base and therefore it’s racial identity and independence.
      Further, these so called ‘investments’ represent funds which were not repatriated to the host country for any number of nefarious reasons. One example is to control the currency exchange so that export prices remain competitive. a.k.a. the two biggest culprits being Japan and China.
      More disturbingly however, as these ‘foreign investments grow, so does the corruption of the government through cashed up foreign lobby groups.

      The US has become an irresponsible money lender’s (lacking self sufficiency) economy dependent on a oil fueled world economy that uses (or is forced to) the US dollar as its trading currency. These days are numbered.
      The only part of your statement I can agree with is “Although, balance of payments, becomes problematic, if investment capital seeks greener fields or higher interest rates elsewhere in the world.” however for a truer position I would suggest amending the ‘if’ to read ‘when’.

    6. Olde Dutch Says:

      “Furthermore, these so called foreign investments were not in a form that would add wealth to the US economy (i.e. improviong the US technological base) but rather foreign owned value-added goods manufactured using mostly exported US technology and benefitting non US interests and intended by the promoters of such to impoverish the middle class. Such economic practices can only harm the ability of the US to retain it’s manufacturing base and therefore it’s racial identity and independence.”
      —–
      The United States has always had a healthy amount of foreign investment. The fact that alien corporations like Diamler Benz own (are invested in) Chrysler isn’t causing me any sleepless nights.

      Whose a jew…:o))

      You should remember Adam Smith was a genius in the 18th Century, we are now in the 21st.

    7. Scipio Americanus Says:

      Dr Harry Says: “The US has become an irresponsible money lender’s (lacking self sufficiency) economy dependent on a oil fueled world economy that uses (or is forced to) the US dollar as its trading currency. These days are numbered.”

      Yes Dr. Harry, I agree with your assessment. But so long as the United States has the military muscle to force its currency regime on the rest of the world, the status quo will not change. And make no mistake about it, that was part of the reason for Hussain’s removal from power. ZOG did not want Iraqi oil traded in a competing currency. Currently, world oil is traded in U.S. dollars. Also, remember the ruling elite of other countries have a vested interest in this arrangement too. They are along for the ride, so to speak, whether they like it or not.

      But this will not last indefinitely as the American economy continues to be hollowed out. ZOG is effectively destroying itself. Question: how long do you think it will be before the day of reckoning occurs? As I see it, given the egalitarian dogma ZOG is imposing on its own military machine, it won’t be very long until shear incompetence engulfs it. Present day Iraq and Afghanistan are two examples. You can’t have a first rate Western military machine with Third World people. It’s called reality! Without the military might of the United States, ZOG goes bye-bye, relegated to the dustbin of history where it belongs.

    8. Carpenter Says:

      Well said, Olde Dutch and Dr. Harry. I would also add: the (as Dutch showed, flawed) list would make a lot more sense if the surpluses and deficits were instead shown as a percentage of GDP. What good is it to know that country A runs a $20 mil surplus and country B a $5 mil surplus, if A’s surplus is only 7 percent of its GDP while B’s surplus is 45 percent of its GDP?

      This shows us that you can do most anything with numbers. That is not to say there is no cause to criticize how the economy is run; but we needn’t exaggerate.

    9. Dr Harry Says:

      Olde Dutch said:
      The United States has always had a healthy amount of foreign investment. The fact that alien corporations like Diamler Benz own (are invested in) Chrysler isn’t causing me any sleepless nights.

      Healthy….? I wouldn’t call $800 liability healthy…no matter what its constituents.
      Furthermore, Germany is an economy run by jews as is the US economy, and DB’s investment in Chrysler means little to me or should to you. Whatever is said, you can bet your boots that only jews benefited and still benefit from that litttle merger.
      It’s Japan and China which should be ringing alarms in your ears. Here we have two countries until recently were in the technological dark ages yet in a short time have shown what they are capable of when they are gifted the science of economics. Yet they are not interested in two way exchanges. They want a controlling stake in technology and it’s benefits as indicated by their increasingly swamping the patent office with all manner of frivolous applications thereby applying a drift net fishing mentality to the patenting of ideas. This approach hopes to snare all ideas however remote and seek to control the way in which technology advances.
      What is worse is now they have a strong foothold in this area, they are constantly trolling for access to technological knowhow… which once they have a controlling interest in will seal the fate of the west.
      Of course whites are educating them, giving them access to our scientific prowess and educational institutes while arrogantly lecturing them in assumed superiority. Meanwhile they accept it all and laugh at our naiveness behind our backs.

      I am unclear on your reference to Adam Smith but I will say that free market economics only work on enforced level playing fields. Seeing as economics is a form of warfare, to me the two are quite incompatible. Further proof of this is the expanding CAD currently at $800 bill with little improvement in sight.

    10. Dr Harry Says:

      Scipio Americanus
      I think it’s too late….the wolves are at the door. The pie is getting increasingly smaller and those who want a piece are growing too fast. The conspiritors in other countries propping up the system are on shakey ground and are close to the hangman’s noose.
      As to US military might?
      I agree with you for the most part however, I believe that it’s already reached the gangrenous stage. Afghanistan is showing that US military might is an illusion….akin to the British fighting the Boors.
      And while the technology may be there. it fails at it’s most important point….on the front line with the low level third world skill available.

    11. Scipio Americanus Says:

      Dr Harry:
      I’m glad to hear you already think it’s too late. I’m of the worse is better opinion. I’ve felt that it is far to late in the game to repair things, especially given the catastrophic demographic changes that have been wrought since 1965. China does constitute our greatest threat in the future. Although, if they are at the point of looking for new territory to colonize or conquer outright, my guess is it will be Australia — it’s much closer and China lacks a sizable deep water navy to conventionally attack and overtake North America. Then again, they are already doing this legally via immigration, but at a much slower pace compared to Mexico.

      It should be noted that China and Japan are not allies and provided we do not do anything to force Japan into China’s camp via disruption of their oil supplies, I do not see Japan working closely with the PRC anytime soon. Besides, the Chinese still remember their experience under Japanese occupation back in the 1930’s. Unlike the stupid Aryan, these folks don’t forget their past.

    12. Scipio Americanus Says:

      Dr. Harry
      “I am unclear on your reference to Adam Smith but I will say that free market economics only work on enforced level playing fields. Seeing as economics is a form of warfare, to me the two are quite incompatible.”

      There was a time I would have disagreed with you on this but no longer. Facts are facts, A is A, what is, is. Your statement is correct. A nation must maintain some degree of industrial independence and that is impossible under the current political-economic regime. What is so damn maddening about this situation is that we here in the United States were blessed with everything needed to maintain such a nation and then pissed it away. And for what? So a bunch of thieves and internationalist can play empire. Truly disgusting. Indded, the chickens are coming home to roost.

    13. Scipio Americanus Says:

      Carpenter,
      Yes, we need to be careful at simply looking at raw numbers. We must also compare those numbers with the overall size of our economy, which is HUGE! The problem is that I do not trust the government’s numbers.

      Who knows what they are given the shear magnitude and scope of what we are attempting to analyze. Couple that with the government’s inability to properly measure inflation that it is responsible for causing and you can see why it is damn hard to get a good grasp on things. We can only speak in general terms on these issues — and the prognosis is grim.

    14. alex Says:

      In our small town, I see: school, hospital, Wal-Mart as main employers. After that, it’s nothing but dollar stores and check-into-cashes. Must be a half-dozen of each in Kirksville.

    15. Dr Harry Says:

      Alex says:
      In our small town, I see: school, hospital, Wal-Mart as main employers. After that, it’s nothing but dollar stores and check-into-cashes. Must be a half-dozen of each in Kirksville.

      What is worse is that this is across the whole country and throughout most other white countries…your and my kids forced by a jew dominated system (segregation, dumbing down, reeducation and obedience training) into doing the menial tasks while immigrants and coloureds classified as a special ‘disadvantaged’ class are given the jobs of managing and administering….and right at the top of each nefarious structure you’ll see the token goyim with the kike perched on his/her shoulder.

      There must be a general waking to the lost situation by whites….a realization that things cannot be turned around. There must be a personal commitment by each to sacrifice whatever environment one is in….chart a new course to realizing one’s true identity. Only this way can one’s destiny be clarified.
      A lifestyle change that seeks to rid oneself of jewish control is the key. This means to undertand that economics is warfare at it’s most brutal, and because of this the jew will always seek control.
      To detach oneself within the system will give us the best chance of survival but beware…the jew knows this is his archilles heel and will attempt whatever is necessary to cling to his advantage as shown towards Hitler’s Germany and more recently in Iraq.
      Open warfare is not an option but rather self determination through stealth utilizing all legitimate non violent means namely education which is what VNN attempts to do. Violence only incites the jews but stealth keeps them guessing and off balance. This consumes their finite resources and neutralizes their third-world lackies who are incapable of proactivity i.e. if you want to fuck with an army, fuck with it’s logistics.

      A lot of whites will be lost…but a lot of them would not necessarily be worth saving. Saving bloodlines with demonstrated intelligence, fortitude and a clear identity of who they are must be the ultimate goal.

      So Alex, my solution would be to home-educate your kids. Get a good white family doctor, live a healthy and well balanced life with lots of meaningful work and moral pastimes. Ditch Walmart and the made-in-China trash they sell! Trash the wide-screen TV mentaility that keeps Japan’s jew allies flush with US dollars and permits Jollywood to play it’s part in the genocide of the white race. Burn the credit cards and barter wherever possible. The dollar stores and check-into-cash stores will soon be boarded up or replaced with good family based stores feeding and catering to a wise and healthy populace.
      At the end of the day…we and only we are responsible for our destiny.

    16. Bavarian Gauleiter Says:

      I have personal experience with an MIT graduate who was paid by the Chinese to teach them aerospace engineering. Asians don’t need industrial espionage or reverse engineering any more, they just need greedy white assholes who want to make a fast buck. My first thought is to hang such assholes as traitors or extradite them, but like our race problem, the problem is systemic and needs to be fixed on a global scale wherever whites reside.

    17. Bavarian Gauleiter Says:

      I forgot also that the greedy capitalists — whether jews or not — at many major universities also screw things up. Why are most engineering schools filled with Asians? Because of 1) Marxism and 2) capitalism. The economic equation being easy — a foreign student/out-of-state tuition is 4 to 5 times more at my local major university. A friend of mine who wanted to go for his masters in computer science was turned down flat because of “affirmative action”. Of course, he’s white. I shed no tears, crocodile or otherwise, cuz he’s one who luvs the “greatest generation”… of American screw-ups.

    18. Bavarian Gauleiter Says:

      sorry. in my first post i didn’t mean “extradite”.. i meant deport or banish. i know, i’m retarded. :) at least my mistakes don’t cost lives.

    19. Scipio Americanus Says:

      “I have personal experience with an MIT graduate who was paid by the Chinese to teach them aerospace engineering. Asians don’t need industrial espionage or reverse engineering any more, they just need greedy white assholes who want to make a fast buck.”

      Bavarian Gauleiter, I agree — the Chinese are given our technology and scientific achievements on a silver platter. And the source is GREED on the part of mostly gentile run Western corporations and Jewish dominated financial markets on Wall Street. It’s important to note that the Chinese are not the omnipotent, all powerful people they are made out to be. Much of this is silly propaganda. They rely entirely on Western technology and trade to compete with us. If we pulled the plug on them, they would fall apart. China is not a very stable nation nor is it ethnically homogenous, contrary to popular belief. Don’t underestimate them but at the same time, don’t overestimate them as well. How the near future plays out is anyone’s guess. But one thing is certain: an American economic-political-financial meltdown will spell havoc for the entire world. When we go down, the rest of the world will go down with us.

    20. steve Says:

      We ought to seize all assets of foreigners in the US, get rid of all muslims and niggers in africa, then send our niggers to the middle east to work the oil fields.