Bin Laden's Economic Goals... - VeggieBoards
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#1 Old 11-02-2004, 07:45 PM
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http://news.yahoo.com/news?tmpl=stor...e_041102125353



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Al-Qaeda leader Osama bin Laden has vowed to wage a war of "attrition" against the United States until it is "bankrupt," in a message to the American people posted on the website of Al-Jazeera TV.



The Qatar-based television posted what appeared to be the full text of a message, excerpts of which were aired three days ago, in which bin Laden threatened the United States with attacks similar to those of September 11, 2001.



"We became experts in gang warfare and in the war of attrition," says bin Laden in the new excerpts, published on the eve of the US presidential election.



"We fought the unjust superpower, waging (a war of) attrition, along with the (Afghan) mujahedeen, (against) Russia for 10 years until they became bankrupt and decided to withdraw in defeat," he says, referring to the fight against Soviet occupation forces in Afghanistan in the 1980s.



Seems to be working so far... thoughts?
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#2 Old 11-02-2004, 07:50 PM
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Quote:
Originally Posted by OregonAmy View Post

http://news.yahoo.com/news?tmpl=stor...e_041102125353







Seems to be working so far... thoughts?





It's not. The US economy is poised for solid economic growth, which will help alleviate the deficit.



Odd that bin Laden went from making our streets run with blood to talking about trying to bankrupt us instead. More interesting that he finally officially took claimed the 9/11 attacks. Onder this - do we have him on the run more than some think, and he is trying to galvanize his support and explain their inaction?
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#3 Old 11-02-2004, 07:57 PM
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Hmmm...the latest economic indicators I've heard of lately seem to indicate that we're heading for another big slump.
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#4 Old 11-02-2004, 07:58 PM
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I thought bin laden took credit for 9/11 a couple of years ago. ?



I don't know what to think of him. I kind of thought he was dead, actually. And I don't know what to think of the economy, either. In the short term, we are probably going to be somewhat steady. But I don't see how harbouring trillions of dollars in debt provides for a strong economy in the long term.
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#5 Old 11-02-2004, 08:00 PM
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Which ones have you been seeing?



Manufacturing looked strong in the last report, inflation has been in check even with the higher energy prices. Corporate earnings are off a tad, but nothing extreme. Growth was hair under expected last quarter, but the trend was upward towards the end of the quarter.
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#6 Old 11-02-2004, 08:01 PM
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Quote:
Originally Posted by OregonAmy View Post

I thought bin laden took credit for 9/11 a couple of years ago. ?



If I recall, he never claimed direct responsibility. He praised the attack and alluded to his involvement, but nothing more.



Quote:

I don't know what to think of him. I kind of thought he was dead, actually. And I don't know what to think of the economy, either. In the short term, we are probably going to be somewhat steady. But I don't see how harbouring trillions of dollars in debt provides for a strong economy in the long term.





One thing to keep i mind about the debt is to look at it relative to GDP and the government budget. When put in relative terms, we have been through other time periods where we were actually leveraged more.
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#7 Old 11-02-2004, 08:13 PM
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Yeah, but - Increase in the deficit of $3.5 billion to $54.0 billion in August 2004 under Internation trade of goods and services. Current-account deficit increased $19.0 billion to $166.2 billion in Q2 2004 in International transactions. Personal income only rose 0.2% in September 2004 (Oct. #'s aren't available yet). source: www.bea.doc.gov
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#8 Old 11-02-2004, 09:13 PM
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Oil imports were a big part of the trade deficit. As prices moderate, some of that will come back into line.
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#9 Old 11-02-2004, 09:27 PM
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it's been years since taking an econ course, unfortunately. what's the bennies of having a highly leveraged country? I know that for companies it certainly introduces a greater level of business and financial risk, and often leads to a decrease in outside investment.... so... knowing that running the country is not like running a business, how can being greatly leveraged possibly be a good thing?



And, if the military is 1/3 of the US budget, when does the vast amount of $ being put into the military become "too much"? Or will it ever, considering how much profit our private sector gains from warfare? (honest question - not baiting)
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#10 Old 11-02-2004, 09:28 PM
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I thought one of the main reasons for Canada's souring dollar is because of the drop in the US dollar.
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#11 Old 11-02-2004, 09:33 PM
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Quote:
Originally Posted by OregonAmy View Post

it's been years since taking an econ course, unfortunately. what's the bennies of having a highly leveraged country? I know that for companies it certainly introduces a greater level of business and financial risk, and often leads to a decrease in outside investment.... so... knowing that running the country is not like running a business, how can being greatly leveraged possibly be a good thing?



Did I say it was good? No.

Is it a sign the nation is going bankrupt or the economy is in the tank? No. When your debt is not too far out proportion to your income and assets, it is not as critical as when it is.

My pint was that relative to GDP and the budget, the current national debt is not that extreme. We need to get a handle on it one way or another, but it won't be as apinful as some act if handled well over the long run.



Quote:

And, if the military is 1/3 of the US budget, when does the vast amount of $ being put into the military become "too much"? Or will it ever, considering how much profit our private sector gains from warfare? (honest question - not baiting)



Keep in mind that when discussing US budgets, especially when dealing with infrastructure and social services, the spending by state and municpal governments should also be considered. As they don't maintain their own militaries (aside from very limited spending on national guards troops, much of which comes from federal funds, the proportion the US appears to spend on the military will always look out of proportion.

Our military spending seems reasonable to me, and it does help maintain certain segments of the US manufacturing sector.
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#12 Old 11-02-2004, 09:35 PM
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Originally Posted by kristadb View Post

I thought one of the main reasons for Canada's souring dollar is because of the drop in the US dollar.





Yep.

But a weak US dollar is not a bad thing. It helps make US exports more competitive in other markets, and makes imports relatively more expensive in the US, thus aiding domestic suppliers. Other benfits include increased tourism.

Obviously you don't want to devalue it too much, but it certainly isn't a drain on the economy some believe.
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