US Credit rating downgraded to AA+Follow

At least we're not technologically inept anymore.

Yeah, several large nations require their cash investments to be AAA rated. By law they will now sell off all their US dollars, and put it elsewhere. Don't know how that's going to play out. Historically he US government likes to fiddle with its dollar to keep it high, even in the face of recessions, which is when other nations usually let their currency dive, which makes exports from those countries very attractive, which grows their own domestic jobs, trade surpluses, and helps the nation out of recession.

You might find this list of rankings of GDP interesting. GDP.

In 2010, the European Union topped out at 16 million million. US was next at 14.6 million million. China and Japan are a long way third and fourth at 5.8 and 5.4 million million respectively. The list starts counting member nations of the EU separately, I'll ignore them. The UK, 2.2 million million. Canada 1.6, India 1.5, Russia 1.4, Australia 1.2 (bizarrely, since we only have less than 2% of the world's population, comes in 13th. It's because we're literally selling our country out from under us in the form of ore exports.) Mexico 1.039 million million goods and services in a year, world's number 14th, not bad for a country routinely perceived as a basket case.
And the last country with over a million million GDP in a year is South Korea at 1.007

So now we have to cross reference with national credit ratings to find where world cash is going to flee to. The EU would he the obvious short term inheritor of de facto World Superpower as America drifts, if it wasn't so crippled by the Global Financial Crisis, with member nations still staggering around defaulting n stuff.

Edited, Aug 6th 2011 2:08pm by Aripyanfar

Try not to sound so hopeful. We're a long way still from passing the baton.

When has anyone ever tried to pass off either Hardball OR Chris Matthews as conservative? It's no secret that he's an independent liberal the way Lou Dobbs is an independent conservative. I've seen the show a hundred times and I've never seen any indication otherwise, certainly not explicitly. In fact, you'd think any knucklehead who saw the show a whole two times would figure out that Matthews is more liberal than not after he inevitably shouts down and/or laughs at a conservative guest.

If China becomes the world's financial super-power doesn't that mean that capitalism beat communism?

I should have been more specific. There's economic power, and military power, and while they influence each other, they are not necessarily identical. I was envisaging the Euro taking over the role of de Facto world reserve currency if the US dollar went into freefall... if member nations weren't having so much trouble in the EU right now.

In the very long term, If China manages to grow it's economy to Developed status, by sheer weight of population numbers I would have thought the Chinese Renminbi (RMB) would take over as the de facto world currency. But there are complicating factors there if their Totalitarian government hasn't relaxed considerably by then. So I have no idea how things will play out on the World economic stage when China hits per capita GDP parity with the USA or the EU.


Edited, Aug 7th 2011 4:15am by Aripyanfar

Yeah ok, if the Chinese central reserve ever stops with the currency value manipulation games they are currently running, then maybe you'd have a valid idea. Which they won't, of course, since it gives them pretty powerful global trade leverage.

I never get it right first time either.

Edited, Aug 7th 2011 3:48pm by Aripyanfar

So you agree that Boehner is an incredibly weak Speaker. I'm not sure why you wanted to call it a "liberal lie".

Mirrors in the men's room stalls?

Co-ownership of an economic downturn is a good thing? Huh.

If you say so

This can only mean the GOP is completely ineffective...useless, having no governmental influence at all.