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I was just reading some facts about Bill Gates' riches, when I found out that he is able to free USA from its national debt of 6500 billion dollars, in 35 years by his income.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
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Plus, Africa and Asia are goldmines for all us dirty Westerners.
I thought I was being all moralistic by not shopping at GAP, then one day I spotted on my other labels that everything is made in Bangladesh.
I thought I was being all moralistic by not shopping at GAP, then one day I spotted on my other labels that everything is made in Bangladesh.
I think the problem is mainly that the african way of life just doesnt sit well with democracy and politics. Westerners just assume that the whole world should be like them, and that anybody who doesn't have access to Nike trainers needs to be "saved".
Haha, I'd move into your house.
Yep, like that link I posted the other day. KIng of Swaziland buys a half a million dollar car, builds palaces for about 15 wives whilst the country starves.
Plus, the climate is crap.
Yep, like that link I posted the other day. KIng of Swaziland buys a half a million dollar car, builds palaces for about 15 wives whilst the country starves.
Plus, the climate is crap.
SHEEPY wrote:
> To be horribly honest and narrow minded
The governments spend a lot of their money on the military and palaces for themselves, rather than for anything to do with the actual country, so, you're right. That is why charities never EVER give money to the government of a country, because it'll just be siphoned away into private bank accounts.
> To be horribly honest and narrow minded
The governments spend a lot of their money on the military and palaces for themselves, rather than for anything to do with the actual country, so, you're right. That is why charities never EVER give money to the government of a country, because it'll just be siphoned away into private bank accounts.
Then the world bank would be like "alright you wanna play hardball! No one gets any more money until Scotland is ANNIHILATED"
To be horribly honest and narrow minded, you could cancel debts of some African countries, throw them billions for free and they'd still mess it up.
It would be great if the countries just didn't pay it back to the IMF or World Bank.
" CONTRACT!!!! "
" Who has the bombs ya wee dober? "
All economists would have a big orgasmic heart attack at the thought.
" CONTRACT!!!! "
" Who has the bombs ya wee dober? "
All economists would have a big orgasmic heart attack at the thought.
The government of our country has almost nothing to do with the debt of third world countries. It doesn't have enough cash to just give to other countries, hence why it needs to borrow money from large banks itself.
Banks know that the developing countries will never fully pay back their debt, and so people appeal for it to be cancelled, meaning that these developing countries would then have more money to spend on themselves. But in truth, the consequence would just be that they built up the debt again and got into the same problems as they needed more money to expand their economies.
However much affluent governments say they want to increase the welfare of other countries, they don't actually. If every country in the world were the same as the UK, then we would just plain run out of resources and all die. To keep our way of life and to keep our economy strong, and to maintain power, the richer countries NEED the poorer countries to stay small and poor.
Banks know that the developing countries will never fully pay back their debt, and so people appeal for it to be cancelled, meaning that these developing countries would then have more money to spend on themselves. But in truth, the consequence would just be that they built up the debt again and got into the same problems as they needed more money to expand their economies.
However much affluent governments say they want to increase the welfare of other countries, they don't actually. If every country in the world were the same as the UK, then we would just plain run out of resources and all die. To keep our way of life and to keep our economy strong, and to maintain power, the richer countries NEED the poorer countries to stay small and poor.
I don't know, or particularly care, about the US's debt.
But take away the debt of the 3rd-world countries (as should have been done a thousand times over by now) and a lot will change.
For one, the big greedy stupid idiot countries (i.e. us and America) will loose a large chunk of income they got by loaning out money with evil interest rates on them. So, obviously, they wouldn't like that.
And then the countries themselves will have a large amount of money actually avaliable for them to use. If put in the right places, it could go in all the right places and solve a lot of problems in the poorest countries.
Being more stable, richer and generally having better living conditions, the big greedy stupid idiot countries would, again, not be happy with this. Generally because they wouldn't be able to exploit everyone as much, and would need to spend more to get what they wanted.
But look! Look how much aid we gave!
Oh yes, and we took it all back again, and some more, to cover the debt. But shush, we're nice people really.
rargh
But take away the debt of the 3rd-world countries (as should have been done a thousand times over by now) and a lot will change.
For one, the big greedy stupid idiot countries (i.e. us and America) will loose a large chunk of income they got by loaning out money with evil interest rates on them. So, obviously, they wouldn't like that.
And then the countries themselves will have a large amount of money actually avaliable for them to use. If put in the right places, it could go in all the right places and solve a lot of problems in the poorest countries.
Being more stable, richer and generally having better living conditions, the big greedy stupid idiot countries would, again, not be happy with this. Generally because they wouldn't be able to exploit everyone as much, and would need to spend more to get what they wanted.
But look! Look how much aid we gave!
Oh yes, and we took it all back again, and some more, to cover the debt. But shush, we're nice people really.
rargh
the debts aren't to the actual nations, they are to individuals and corporations tied to those naions, as a result they don't cancel each other out
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