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Thread: Current Account Balance - Nations of the World

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    Default Current Account Balance - Nations of the World

    This is the CIA Factbook's official ranking of world nations, showing how much cash they have on hand, or how much debt. Note the top and bottom of the list.

    https://www.cia.gov/library/publicat.../2187rank.html

  2. #2
    Senior Member Bob's Avatar
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    The list is interesting, but that's about it. The list does not show the relative health of the economies of each country, nor does it show the value of infrastructure, stability of institutions, literacy, or other indicators of wealth. But yes, the list IS interesting.

    China could have twice the amount of cash on hand as the U.S., but so long as it enslaves its people the country is poor in more ways than it realizes.

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    Chief Antagonist Ninjahedge's Avatar
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    Red herring Bob.

    China could hold all the worlds marks and we could all be indebted to China. Saying they kill babies would not change that, or say that we should somehow ignore our situation because they are mean and we, supposedly, are not.

    I am kind of surprised India still has a debt. I wonder what their net change has been the past couple of years.

    I think the net worth (or maybe just GDP) of the country should be listed here, as well as the change in debt in the past few years. It would give better context to the figures. But bottom line is, the US really needs to start changing the way it does its finances.

    If we produce so much and we are not in as bad a situation as some of the others that are less in debt, it should be an easy thing to do!

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    Forum Veteran MidtownGuy's Avatar
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    Amazing. Our account balance is now lower than countries with names like Slovenia and Slovakia.
    We can make excuses and talk about context but there it is.
    All things considered, we should all get ready for a bumpy ride into the 21st century.

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    Forum Veteran MidtownGuy's Avatar
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    Apparently China will rule the Earth.
    This month's National Geographic devotes almost the whole issue to China. Simply fascinating.

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    China is financing the Iraqi War.

    We should show our appreciation, and send them a nice gift. Maybe a toaster oven.

  7. #7

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    China is an insular nation, always has been. I cant see that changing much. Nevermind the fact that the world is used to democracy at worst better than China.

  8. #8

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    Zippy: Aren't those now all made in China too?

    C'mon, let's show 'em some American manufacturing prowess:

    http://msnbc.com/modules/take3/may/i...nd/petRock.jpg

    ----

    (Disclaimer: I love the US, I am only joking)

  9. #9

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    ^
    Actually, I was waiting for someone to come back with that. I had considered an All-American General Electric refrigerator, but I'm not sure we can afford such a big ticket item.

    All kidding aside, it may come as a shock to some, but the US is still the world's largest producer of goods, and it's second biggest exporter. It's the third largest producer of oil (but sadly it's own best customer).

    The US GDP is five times that of China.

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    Chief Antagonist Ninjahedge's Avatar
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    GDP, yes. But look at what we are actually producing and you may get a better idea of why....

    I think China is at the same stage Japan was in the late 80's, early 80's. If they follow their lead, backed by their sizable industrial base, they could easily overwhelm us on the world market.

    Key word here is could. Until that word becomes "will" our leaders will not do anything that could net them less in their pockets, or their constituents pockets.

    "Planning Ahead" for them means, in most issues, until the next fiscal year. If this could happen in 10 years, don't expect anything to happen but increased investment in foriegn portfolios.

  11. #11

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    Quote Originally Posted by Ninjahedge View Post
    GDP, yes. But look at what we are actually producing
    Like what?

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    Chief Antagonist Ninjahedge's Avatar
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    Quote Originally Posted by ZippyTheChimp View Post
    Like what?
    I was asking YOU!!!

    I would imagine we are producing more than Widgets and GI-Joe figurines....


    Boeing Airplanes maybe? One plane is more $$ than quite a few Jacks 99 store items....

  13. #13

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    Durable goods.

    There was a TV segment broadcast sometime last year that was themed as a surprising fact. Surprising because most people think we have become a strictly service economy. While more than 50% of the economy is service oriented, less than half of a huge economy is a big slice of pie.

    Besides airplanes, construction equipment, mining and oil drilling equipment, and major appliances come to mind.

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    The Dude Abides
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    I don't get it. Do people actually think we should still be producing clothing and plastic toys in sweatshops?

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    Chief Antagonist Ninjahedge's Avatar
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    Sure!

    What do you think Chinatown is for???


    (I wish I was being 100% sarcastic with that one... But when you see some of the secret sweatshops around the city.... Or spaces where they used to be....)

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