Comments on: Making Sense Of the US Debt http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Jordan http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-40145 Jordan Mon, 15 Feb 2010 01:29:26 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-40145 The U.S. has to get over their ego about being world protector for a little while and sort out the problems at home. They always talk about being the greatest place in the world etc. A few months ago, I was talking to my father and basically summed it up. The U.S.A.is the flashieest nation in the world. Whether they have it or not, they need to show it. I have been there many times, visited relatives, and I am always amazed about the hang up with ones 'status'. It is more important where you live, what you wear, what you drive, who you know, than who you really are. I heard a line years ago, defining the definition of Status, Know it all, show it all, Owe it all. The U.S. has to get over their ego about being world protector for a little while and sort out the problems at home. They always talk about being the greatest place in the world etc. A few months ago, I was talking to my father and basically summed it up. The U.S.A.is the flashieest nation in the world. Whether they have it or not, they need to show it. I have been there many times, visited relatives, and I am always amazed about the hang up with ones ‘status’. It is more important where you live, what you wear, what you drive, who you know, than who you really are. I heard a line years ago, defining the definition of Status, Know it all, show it all, Owe it all.

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39723 Canadian Dream Mon, 08 Feb 2010 11:58:46 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39723 Mr & Mrs Canada are actually doing fairly damn good in comparison. Federal debt is about $510 billion or $15,200 per person. US is about $40,100 per person. Also Mr. Canada was a bit smarter and helped with his parents retirement planning years ago so CPP isn't underfunded. That only leaves OAS as an underfunded and that program is significantly less generous than Social Security so it has less of an underfunded liability. Perhaps the only wild card in Canada's situation is health funding. I've yet to see an estimate of what the baby boomers will do in regards to driving up costs. Yet it will likely be a fraction of what the US will spend since our health care costs per person are significantly less than theirs (the benefit of having a system where your health care providers are not trying to make a profit off of you). Tim Mr & Mrs Canada are actually doing fairly damn good in comparison. Federal debt is about $510 billion or $15,200 per person. US is about $40,100 per person.

Also Mr. Canada was a bit smarter and helped with his parents retirement planning years ago so CPP isn’t underfunded. That only leaves OAS as an underfunded and that program is significantly less generous than Social Security so it has less of an underfunded liability.

Perhaps the only wild card in Canada’s situation is health funding. I’ve yet to see an estimate of what the baby boomers will do in regards to driving up costs. Yet it will likely be a fraction of what the US will spend since our health care costs per person are significantly less than theirs (the benefit of having a system where your health care providers are not trying to make a profit off of you).

Tim

]]> By: MossySF http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39705 MossySF Mon, 08 Feb 2010 04:28:50 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39705 How's the Canadian debt situation? I took the online immigration test and was able to score enough points for the skilled worker class. How’s the Canadian debt situation? I took the online immigration test and was able to score enough points for the skilled worker class.

]]> By: Financial Ramblings http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39652 Financial Ramblings Sat, 06 Feb 2010 13:45:42 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39652 [...] Making sense of the US debt at Canadian Dream. [...] [...] Making sense of the US debt at Canadian Dream. [...]

]]> By: Mama Zen http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39640 Mama Zen Sat, 06 Feb 2010 00:42:56 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39640 twitted ;-) twitted ;-)

]]> By: Mama Zen http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39639 Mama Zen Sat, 06 Feb 2010 00:03:57 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39639 Wooo this post is EXCELLENT! I love the way you put the US budget in an «everyday image». This would be a really nice way to explain to US citizen why they are in deeper trouble day after day. They should try a family therapy, take time to understand each others needs and find a way out... together. But a family therapy on a country size... mhhh quite hard to manage, even for Jo Frost... Wooo this post is EXCELLENT! I love the way you put the US budget in an «everyday image». This would be a really nice way to explain to US citizen why they are in deeper trouble day after day.

They should try a family therapy, take time to understand each others needs and find a way out… together.

But a family therapy on a country size… mhhh quite hard to manage, even for Jo Frost…

]]> By: Canadian Money http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39633 Canadian Money Fri, 05 Feb 2010 19:22:38 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39633 There is a financial upside to all of this doom and gloom...if one knows where to look. Something they don't teach in school. Exchange traded bear funds are doing well the last month or so. See ca:HXD and ca:HSD for Canada and the US index funds. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ca%3Ahsd&sid=0&o_symb=ca%3Ahsd&freq=1&time=7 These ETFs trade just like stocks. Shorting the market has never been easier. The max loss is what you invest, just like any stock long position. I continue to expect the current market downturn to last for some time. It has a high probability of going below the March 2009 lows and may well end up being a drop worse than what we saw in 2008. The other alternative is to...just get into cash and preserve you hard earned savings. There is a financial upside to all of this doom and gloom…if one knows where to look. Something they don’t teach in school.

Exchange traded bear funds are doing well the last month or so.
See ca:HXD and ca:HSD for Canada and the US index funds.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ca%3Ahsd&sid=0&o_symb=ca%3Ahsd&freq=1&time=7
These ETFs trade just like stocks. Shorting the market has never been easier. The max loss is what you invest, just like any stock long position.

I continue to expect the current market downturn to last for some time. It has a high probability of going below the March 2009 lows and may well end up being a drop worse than what we saw in 2008.

The other alternative is to…just get into cash and preserve you hard earned savings.

]]> By: Financial Student http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39632 Financial Student Fri, 05 Feb 2010 19:06:55 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39632 Great post! The next obvious question though is how are Mr and Mrs Canada doing? Great post! The next obvious question though is how are Mr and Mrs Canada doing?

]]> By: Jordan http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39627 Jordan Fri, 05 Feb 2010 16:17:57 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39627 For Mr. US this means in addition to his mortgage debt of $123,000 to the bank of china, he sorta also promised to pay the hospital/doctors and his pension plan $1 million dollars, and some day they're going to want to collect it. I sure hope his $21k income can support that kind of debt repayment. For Mr. US this means in addition to his mortgage debt of $123,000 to the bank of china, he sorta also promised to pay the hospital/doctors and his pension plan $1 million dollars, and some day they’re going to want to collect it.

I sure hope his $21k income can support that kind of debt repayment.

]]> By: Adam http://blog.canadian-dream-free-at-45.com/2010/02/05/making-sense-of-the-us-debt/comment-page-1/#comment-39626 Adam Fri, 05 Feb 2010 16:08:42 +0000 http://blog.canadian-dream-free-at-45.com/?p=1364#comment-39626 Whenever I think about the US and the effects capitalism have had on the planet, all I can think is that all great civilizations of the past have eventually crumbled... Maybe someday in the distant future, NYC will be the next Ruins of the Inca. Whenever I think about the US and the effects capitalism have had on the planet, all I can think is that all great civilizations of the past have eventually crumbled… Maybe someday in the distant future, NYC will be the next Ruins of the Inca.

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