America is the Most Indebted Country in the World BUT Does Capitalism Suck LESS?

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Canadians’ offshore tax-haven holdings rise 10 per cent, to $170-billion

Most of that money is held in just three countries: Barbados, Cayman Islands and Luxembourg – where Canadians now have $124-billion invested, an increase of 188 per cent over seven years from $43-billion at the end of 2005. The analysis is based on Statistics Canada data on foreign direct investment abroad.

China’s looming debt bomb: Shadow banking and the threat to growth

Debt now stands to undo at least some of what China’s spending has accomplished. Some of the country’s major projects have done little more than strand vast amounts of invested capital. Debt is just one of the ticking time bombs in China today. China must also cope with the fallout from slowing spending in a place where social stability has been largely defined by one thing: the non-stop accumulation of wealth.

19 thoughts on “America is the Most Indebted Country in the World BUT Does Capitalism Suck LESS?

  1. YES! Capitalism,does SUCK LESS from the correctly INCENTIVISED worker than Socialism and Communism! Capitalism as practiced in the USA is far from perfection however. Socialised Capitalism which is managed Effectively and Efficiently is the way to go.

    We can NOT encourage Bloodsucking Pols and their ardent voters to ruin any Nation by continously giving hardworking people’s $$$$$ to those LazyAsses who have NO INTENTON of working or improving themselves or their generations to come.They MUST be Re-Educated/ Trained, yes we can learn from the Communists on this! (well meaning methods though).

    With the Bankruptcy in Waiting of the WEST and the large proportion of Retirees over the next 18 yrs to say nothing of the impact of China, India and Eastern Europe who are permitted to suck jobs from the West by “free” trade, we are ALL destined to a serious reduction in our standard of living.
    Welcome to the 99% who are victims of very corrupt, stupid “leaders”.

    • @Moneybrain

      What we have is a global economy it really does not matter the system of government or ideologies at play.

  2. @David
    What matters is that the US has agreed to”free” trade with places like China that have ABSOLUTELY NO INTENTION to be free or fair! Consequently China is playing the Americans as fools and the person in the US street is now out of work, suffering, none more so than “Black” peeps. The corrupt Pols have sold out to Corps and foreigners.

    The Chinese manipulate their currency to keep it low, steal Technology, copy anything, pollute unabashedly( more than half the water is so polluted that the water can NOT be used for Agriculture) and the upshot is that China will compete for our FOOD and drive the price up over the years ahead. Over 30% of their rich are migrating West because of pollution, they say, and additionally because of their involvement in Corruption which naturally they dont say! ( New Politburo is cracking down)

  3. David

    What we have now is a global economy in the contemporary context but devoid of the trade protectionism of the yesteryears.

    • @Moneybrain


      Where is the USA setting businesses because its domestic space is saturated?

      Where is seen as the biggest consumer market to be exploited by capitalist economies who suffers from a chronic expectation to keep shareholder value heading North?

  4. MoneyBrain

    Why are you blaming China? When you ought to be blaming the Reagan Administration for instituted the deregulations and Clinton Administration for implementing NAFTA.

  5. Money…… are forgetting that the US was looking for cheap labor, cheap goods, etc……at the end of it they borrowed trillions from China, of course the people at the low end of the totem pole will feel it the most, but that is what happens when you try to cut corners.

  6. @Dompey, WW et al

    Where did I blame China? I took direct aim at US stupidity!

    The US”leaders” must be corrupt and complicit with the Chinese as any IDIOT with a cursory knowledge of what economic havoc Japan caused in the 1970-80s, with only 120mn people ( stole camera, TV, half auto industries +++) would easily conclude that America had to be very careful conducting trade with China, a Nation that has a gigantic population of over 1,200 mn or 10X Japan.(What did Japan throw open their ports to buy from the USA?)

    David, there is a market to be exploited by the USA BUT at what cost? Good Pols always conduct Cost Benefit Analysis and SWOT (Strengths, Weaknesses, Opportunities and Threats). Thoroughbred Racehorses know better than to get in to bed or a fight with ELEPHANTS! What is the point of giving up 8-10mn jobs to gain 75,000???

    The Japs nor Chinese are that DUMB or ARROGANT!

    Domestic Jobs are the most critical objective of any Govt. Everything flows positive from Job gains and negative from job losses. Revenue from taxes, cost savings from not having to support the unemployed, societal stability/ happiness ——-

  7. We will continue to say it that Capitalism is NOT responsible for the very oppressive demeaning and dehumanizing social conditions in which the vast majority of people in Barbados live.

    It is the existing and continuing OLIGARCHIC POLITICAL ECONOMIC and WESTERN FINANCIAL disorders dysfunctions within and without Barbados that are substantially responsible for such degradating social living conditions of the broad masses and middle classes of people of this country.


    • @PDC

      And is it not fair to conclude that the capitalist system breeds the disorders you referred?

      On Sunday, 4 May 2014, Barbados Underground wrote:


    • By Michael Noonan

      The modus operandi of the elites is to create chaos, preferably in the form of [profitable for them] war. Their purpose is to create major headaches for governments and people. The next step is to “offer solutions” to end the chaos. Without fail, the solutions always favor the elite who gain more control as part of the cost for the rescue.

      Why war? A simple diversion used to cover the total insolvency of the entire Western banking system and the failure of all fiat currencies. The only solution will be financial destruction, and major economic life disruptions, especially in the ill-prepared United States. Previews of what is in store for the United States are found in Greece, Cyprus, Ireland, Venezuela, Argentina. The list grows.

  8. It is not necessarily Capitalism to blame BUT EVIL BASTARDS, excuse for Humans, that are the Elite Infestation!

    There is a massive difference between Gates and Buffet and certain well known Banking Families who have made much of their fortunes from WAR! (indeed some argue that these types are NOT 100% Humans at all! But a sub specie that was combined from Alien sources. I would require much proof BUT–)

    • Does anyone think these netwit politicians have the vision and intelligence to facilitate us fighting back against the rot which has set in to Caribbean societies?

      On Sunday, 4 May 2014, Barbados Underground wrote:


  9. David… one thinks that, they have more intelligence than to think these nitwit politicians have any intelligence.

    Plantation……no need to wonder why, she was involved in some high profile case, remember, they like to play both sides against the middle, by the way Simmons is also in Trinidad and has been for some time, according to some buddies of mine in T & T, something to do with the coup there many years ago, they are always busy and are everywhere at once..

  10. Someone said something I found quite interesting and I thought it necessary to mention it here on BU. And this statement was made during the height of the Iraqi war and during the Bush tenure: ” The Iraq war has been from the beginning a desperate attempt to gain control of “Mideastern Oil”, in the face of China’s rising powder.” And Guess what: China is projected to be the largest economy in the world sometime this year, surpassing America who is number one as I speak.

  11. We have previously defined CAPITALISM on here as a 19th Century Caucasian POLITICAL LEGAL national international system in which the RIGHTS to contract, the RIGHTS to OWN personal chattel property, to PASS ON and to RECEIVE such RIGHTS and such PROPERTIES to others, to MARKET such RIGHTS and PROPERTIES, to INVEST and to FULFIL one’s financial obligations, and the various CONSONANT REGIMES REGULATIONS supporting such RIGHTS that are and have been so inalienable so extensive so democratic so reciprocal that NO ONE PERSON or social political grouping in any society where it exists, has any HEREDITARY or LONG TERM MONOPOLY of POWER, CONTROL and INFLUENCE over any other such persons and such groups as a result of the inbuilt integrating absorbing afflicting national international effects brought about when those RIGHTS and CONDITIONS are PRACTICED by so many millions upon millions of people, businesses and others within and without Barbados.

    Clearly, it is in this vein that we will challenge the central thesis by Dr Eric Williams that economic considerations (essentially inverted political ideas philosophies psychologies leading to consonant recurring material technological changes forwards backwards) were principal in the determination by the colonial powers and others many years ago in the resulting emancipation of former enslaved people in the Western world.

    We submit that the further growth and development in capitalist conditions (ideological political legal rights and conditions) in many regions of Western society principally led to the destruction of the particular enslavement system.


  12. Crowning the dragon

    Apr 30th 2014, 0:02 by J.M.F. and L.P.

    • China will become the world’s largest economy by the end of the year

    UNTIL 1890 China was the world’s largest economy, before America surpassed it. By the end of 2014 China is on track to reclaim its crown. Comparing economic output is tricky: exchange rates get in the way. Simply converting GDP from renminbi to dollars at market rates may not reflect the true cost of living. Bread and beer may be cheaper in one country than another, for example. To account for these differences, economists make adjustments based on a comparable basket of goods and services across the globe, so-called purchasing-power parity (PPP). New data released on April 30th from the International Comparison Programme, a part of the UN, calculated the cost of living in 199 countries in 2011. On this basis, China’s PPP exchange rate is now higher than economists had previously estimated using data from the previous survey in 2005: a whopping 20% higher. So China, which had been forecast to overtake America in 2019 by the IMF, will be crowned the world’s pre-eminent country by the end of this year according to The Economist’s calculations. The American Century ends, and the Pacific Century begins.

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