Not to sound antagonistic, but just what facts did you point out to me? Nothing but generalities you can find on any news broadcast, talk show, etc. I'm likely a lot more "enlightened" than you give me credit for - enough so to understand that neither me, you, or hardly anyone else that frequents this message board should pretend that we understand enough about the intricacies of world economics and financial policies to think we could solve the U.S. or world problems.
Everyone loves to throw out the idea that China holds a lot of U.S. debt. The fact is we hold a lot of their's also. China currently breaks every guideline there is on how to borrow money. The fact is that China is incurring much more debt than we ever thought about as they try to raise themselves up to a reasonable standard of living. They throw money around all over the world (which they borrow from us and other countries) to dig up resources (fuel, metals) and buy food to feed their population. Don't think for a second that anyone in the know in this country would trade places financially with China. How many people in this country do you think own stock in Chinese companies (did you know that even their state-run companies sell stock?) A lot. People in the U.S. probably have more money invested in China than vice versa.
As far as throwing out the term depression - like we've never seen before. That's one of my hot buttons. Everyone likes to talk about how bad our current depression is and how its worse than the Great Depression. A lot of you need to go talk to your great grandparents or grandparents and they'll clear that one up in a hurry.
The term "good shape" is relative. Exactly which country in the world do you think is in better shape than the U.S.? Certainly not any of the major counties in Europe. Their taxation rates are significantly higher than ours and so it their relative amount of debt. Japan? It is very common that young people can't afford to get married there because they can't afford anywhere to live. Living with parents isn't an option because there isn't room for an extra person, let alone babies.
Of course we need to improve things. So does everyone else. The U.S. (and Canada) are in very good shape relatively speaking because we still have our basic strengths:
1. We can still feed ourselves.
2. Although higher than we like, unemployment is much lower than pretty much anywhere else.
3. We still have lots of land and lots of undeveloped resources. Contrary to public rantings, it is an intentional policy and a good thing we are using everyone else's oil up first. See what it costs to buy fossil fuels in 20 years. That's when we'll get serious about tapping into ours.
4. We aren't overpopulated.
5. Contrary to statistics various interest groups like to throw out, we are at least as highly educated as a whole (I think more educated - that's everyone sends people to college here). The only jobs we send overseas are the ones we collectively don't want. That's ok.
We have some hard decisions to make on some legacy financial programs. It's not our politician's faults those decisions haven't been made. It's OURS as a people. Nothing else we do financially matters relative to our social security, medicare, and other entitlement programs. The cost and issues of those programs dwarf everything else - here and in other countries. Our country isn't any different than most of us individually - we don't have income problems - we have spending problems. But its real hard to quit going to the store. Its easy to tell someone else to stay home.
For some of your other points:
NYC retailers accept Euros the same reason those countries accept the $, to make it easier for people from other countries to spend money with you. Do you think their bank statements are expressed in Euros? In actuality, how many people from Europe are going to New York and paying cash for something. They are using credit cards just like everyone else.
Do you not watch the news on the trouble various EU countries are having with their own currency? The world certainly isn't switching to the yen.
Hard assets? Do you not realize how much hard assets U.S. companies and individuals own overseas? That's a big part of the reason most of the poorer parts of the world hates us and Britain and the ones that don't hate us are jealous of us.
Other countries want to invest in the U.S. corporations because we are a good investment. For example, I am a partner in the oldest engineering company in Texas. We literally get companies from around the world that try to buy us every month - and have for years. It's not anything unique to my company - it happens to privately held companies all over the U.S. Canadian companies routinely buy into the U.S. market. On an even smaller scale, U.S. and British engineering companies have followed China around the world for decades to design and construct the infrastructure needed for China to buy resources. No other country but us has the capability to exploit their needs. And our companies make money by the dumptruck full off of China's insatiable basic needs for fuel, metal, and food. Chinese labor may "make stuff", but they are buying the raw materials to do that from other countries, including the U.S. and Canada.
