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Originally Posted by arch13
I think certain people need to look at the Pat Buccanan thread regarding us having large sums of money to spend. We don't. We just borrow it and mortgage our future to generations of debt.
If you are going to speak about the United State's buying power (which is very real), kindly do yourself the favor of being honest and aknowledging that our buying power is based on borrowing money, and not much of that is borowed from within either.
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I don't understand very much about world economics but I heard on the news last night that Japan, France and Germany had federal debt as high or higher than the U.S. as a percentage of GDP. I wonder if most of the economies are operating on borrowed money and how far we can go before everything collapses.