The_Mac wrote:

Bertster7 wrote:

The thing you haven't taken into account is national debt. If I took out a vast bank loan, I wouldn't run around saying I was rich, because I would owe that money + interest to someone else. That's what the US have been doing.
The unfortunate flaw in your philosophy is that the money the government has or lacks does not reflect the wealth of the nation.
That's not my philosophy or indeed a philosophy of any sort.

I notice you've conveniently ignored the fact that your previous point was entirely redundant, due to the fact that the PPP GDP levels reflect the variations in currency purchasing power not on exchange rates.


Do you not understand the impact of public borrowing on a nations economy?

You really don't have a clue what you're talking about.