Re: Indian ofcourse
by Jaichand on Sep 24, 2008 07:28 PM Permalink
Are you a fool ? Behaving as if American economy has collapsed ? US is a $14 trillion economy and their currency Dollar is the default most accepted currency in the entire world, they can literally print dollars and pay their debtors as they already do.
get your basics right. And only US can afford to bail out its failed banks by giving a mammoth $900 billion package for this purpose .
Do you know how much is the national budget of India ? It is in tune of $140 billion versus $2000 billion for USA national budget.
USA exports $1700 billion India exports $160 billion
USA economy leads the world, US sneezes , world catches cold as you can see BSE crashing. Wake up and dont talk nonsense based on half knowledge and false ego.
And I dont have to tell you that it is India that has half of the world's poor and hungry people not USA.
Re: Indian ofcourse
by raj on Sep 24, 2008 08:06 PM Permalink
And I don't have to tell you that after Subprime mortgage crisis half of the US population is under big debt.
Re: Indian ofcourse
by Jaichand on Sep 24, 2008 08:13 PM Permalink
Debt is the US style of life for 200 odd years of their history, they use CREDIT CARDS just like Indians use cash, and it has worked for them for two centuries and made US the consuming giant it is with even plumber class people affording TOYOTA CAMRY which only an MBA can afford in India.
What is wrong with you ? I say 100% of US population is in debt , so what ? USA has world's most accepted currency to print and pay off supported by a mammoth $14 trillion economy.
Re: Indian ofcourse
by raj on Sep 24, 2008 08:30 PM Permalink
So it means you can buy a US$500000 house in US by using CREDIT CARDS only. Very strange.
Re: Indian ofcourse
by nickel biswas on Sep 24, 2008 11:07 PM Permalink
Hey Raj - Jaichand is absolutely 100% right. What is wrong with CREDIT CARD money? How is PAPER money any better than credit card money? The US is the largest trade partner, and investor in India. If they pulled out, then the PAPER money you have could only be used to wipe your nose.
Re: Indian ofcourse
by Jaichand on Sep 24, 2008 08:34 PM Permalink
Even biggies like warran buffet bill gates and clintons are in debt since they always use debt paymetns thru credit cards, they are americans pioneers risk takers not bookish always frowning Indians .
That's they way that country was built and this system worked for them.
A $14 trillion economy for just 30 crore people ensures such system works.
Re: Indian ofcourse
by balachandran on Sep 25, 2008 05:19 AM Permalink
DearJaichand, Very funny - issue credit cards to every family in Inda, let them get everthing necessary, if they can't pay back (which is certain), let them declare bankruptcy. At least everone will have a house and necessities like fridge,car, house etc, being bankrupt after that is fine!!!! Dear Jaichand, you either are very ignorant of the way economy works or you have recently read some article andnot understood it The payoff which is being discussed now so vehemently in US with a 700 dollar pay-off could spell dissaster to USA if Govt cannot payback the debt (which it actually has to borrow to pay for the debt) It cannot just print 700 billion dollars and pay I USA Federal Govt goes bankrupt, it could mean a big recession
