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Torrent Info
An American Time Bomb 2008 11 24 (BBC 2This World)
An American Time Bomb 2008 11 24 (BBC 2This World)
695.16 MB
Is America facing an even greater threat to its economy than the meltdown of its banking system?
David Walker, the former comptroller general at the US General Accounting Office, believes that his country is about to drown in an ocean of debt.
He is so concerned that he left his job in order to raise public awareness on the issue.
He believes this film to be the financial equivalent of former vice-president Al Gore's warning about the environment - An Inconvenient Truth.
The statistics are staggering, with the US government debt running at more than $10 trillion - much of it to China. David Walker believes it is set to rise and rise unless policy changes.
And with many people urging President-elect Barack Obama to spend his way out of recession, it may be that the underlying weakness of the American economy can only get worse.
An American Time Bomb is an updated and edited version of the 2008 Oscar nominated documentary I.O.U.S.A.
http://news.bbc.co.uk/2/hi/programmes/this_world/7745607.stm (Mini Stream)
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| dc510f6eaa8ef187ab4ef67067355d64be66dbcc |
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Category | Documentary |
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Uploaded on | Dec 02, 2008 |
Number of files | 3 |
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4 Comments
I'd say it is just you, unless you consider Clinton and others concerned about budget balance and debt as enemy. Reagan, Bush I or II didn't worry much.
Although I'm European, I wouldn't consider myself as enemy. And I am a bit worried about imbalances in world economy. If US, china or any other big player fails, it is no fun for anyone. As we again found out this year. Further I bet many would hate to see US with military power and without economic power.
They say there is balance in US-China trade: China is selling poisoneous toys and US is paying with unworthy bonds.
If you refer to restrains for government spending on stimulus, health, education etc. I'd say it is doable. Check Europe or Canada. Clinton failed on these, maybe he should have had 4 or 8 more years. In the movie the future graph on medicare etc. failed to take into account economic growth, and so it was somewhat misleading. I wouldn't call it propaganda though.
I'd say this is truly important topic, but the film was slighly disappointing in its shallowness.
Thanks
Although I'm European, I wouldn't consider myself as enemy. And I am a bit worried about imbalances in world economy. If US, china or any other big player fails, it is no fun for anyone. As we again found out this year. Further I bet many would hate to see US with military power and without economic power.
They say there is balance in US-China trade: China is selling poisoneous toys and US is paying with unworthy bonds.
If you refer to restrains for government spending on stimulus, health, education etc. I'd say it is doable. Check Europe or Canada. Clinton failed on these, maybe he should have had 4 or 8 more years. In the movie the future graph on medicare etc. failed to take into account economic growth, and so it was somewhat misleading. I wouldn't call it propaganda though.
I'd say this is truly important topic, but the film was slighly disappointing in its shallowness.
Thanks
Dec 04 2008, 01:40 CET
I heard an anecdotal story that when Milton Friedman was asked about the trade imbalances with China he responded by saying "what are they going to do with the dollars, eat them?"
It's almost like a zen koan for monetary policy enthusiasts. It baffles me though. Seems like between the natural devaluation/valuation of currencies combined with the metering of the IMF would like prevent the trade imbalance from completely destroying anything.
That being said, if you're against the collapse of global capitalism, I bet you're on of the few on these boards.
"The best way to destroy the capitalist system is to debauch the currency."-Lenin
It's almost like a zen koan for monetary policy enthusiasts. It baffles me though. Seems like between the natural devaluation/valuation of currencies combined with the metering of the IMF would like prevent the trade imbalance from completely destroying anything.
That being said, if you're against the collapse of global capitalism, I bet you're on of the few on these boards.
"The best way to destroy the capitalist system is to debauch the currency."-Lenin
Dec 04 2008, 06:15 CET
there is a glitch at the apex of the story-near the end where they quantify the total debt it skips forward i don't know how far but its at least 10-20 seconds. Big bummer. I found part of the section i missed by watching the 30 min free version online.
Dec 09 2008, 20:13 CET
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