Wednesday, November 09, 2005

The "chinese buying us conspiracy"

Here's a good piece of FUD:
Our government is being purchased

Quoting one of the most misleading statistics I've seen in a while:
According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.
How does this compare to "relevant" numbers?
US National Debt as a percentage of GDP

Well, the national debt isn't great. But it's not the end of the world either. For unsecured debt, it shows that people pretty well trust the US government.

A very odd coincidence (which I cannot call a correlation yet) is that advances against tyranny have come during budget deficits. WWII, end of the cold war, invasion of Afghanistan (by USSR negative and USA positive) and Iraq.
Notice the reccession of both the national debt and democracy during the Kennedy/Johnson/Nixon administrations as the US failed to show its resolve against the vietnam and other tyrannies.
The first and most obvious things which do not correlate here are Bosnia and Kosovo.

This suggests that the US being in greater debt (at least to some limit) is good for the world as a whole.


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