Canceled.LTroll.27
Banned
"Americans have been borrowing from abroad on an increasingly stunning scale. In 2006, the infusion of foreign cash required to close the gap between American incomes and consumption reached nearly 7 percent of gross domestic product (GDP), leaving the United States with a deficit in its current account (an annual measure of capital flows to and from the rest of the world) of more than $850 billion. In other words, the quantity of goods and services that Americans consumed last year in excess of what we produced was close to the entire annual output of Brazil."
From 2007
http://harvardmagazine.com/2007/07/debtor-nation.html
"Americans have one of the worst saving rates in history." "In 2007, American households needed 240 years of savings to pay back what they owe on homes, cars, and credit cards. Collectively as a group, Americans owe about $14 trillion."
http://www.pri.org/business/economic-security/debtor-nation-wilcox.html
"The United States is a debtor nation, just like the poorest states in Africa, Latin America and Asia. "
From 2006
http://www.atimes.com/atimes/Global_Economy/HI28Dj02.html
From 2009
"In the US, it was reported that another 742,000 jobs were wiped out last month."
"The US, once the engine of world growth, is now the world's leading debtor nation, and its financial crisis, the product of decades of deterioration of its productive forces and the turn towards ever more parasitical and criminal forms of speculation, has become the engine of a deepening worldwide depression."
"Obama would have suffered greater humiliation still had it not been for China. But this dependency on Beijing only highlights the extraordinary economic and political decline of US imperialism."
http://www.wsws.org/articles/2009/apr2009/g20s-a03.shtml
From 2007
http://harvardmagazine.com/2007/07/debtor-nation.html
"Americans have one of the worst saving rates in history." "In 2007, American households needed 240 years of savings to pay back what they owe on homes, cars, and credit cards. Collectively as a group, Americans owe about $14 trillion."
http://www.pri.org/business/economic-security/debtor-nation-wilcox.html
"The United States is a debtor nation, just like the poorest states in Africa, Latin America and Asia. "
From 2006
http://www.atimes.com/atimes/Global_Economy/HI28Dj02.html
From 2009
"In the US, it was reported that another 742,000 jobs were wiped out last month."
"The US, once the engine of world growth, is now the world's leading debtor nation, and its financial crisis, the product of decades of deterioration of its productive forces and the turn towards ever more parasitical and criminal forms of speculation, has become the engine of a deepening worldwide depression."
"Obama would have suffered greater humiliation still had it not been for China. But this dependency on Beijing only highlights the extraordinary economic and political decline of US imperialism."
http://www.wsws.org/articles/2009/apr2009/g20s-a03.shtml
