% | $
Quotes you view appear here for quick access.

Petróleo Brasileiro S.A. - Petrobras Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • winsabokk winsabokk Jul 13, 2009 1:51 AM Flag

    Peter Schiff

    <<U.S. net worth is $350 trillion.>>>


    Please provide links and/or itemize.

    that's one big pile of crap IMO.

    Over a million per person?

    Sell, sell sell!!!!

    SortNewest  |  Oldest  |  Most Replied Expand all replies

      If you use a PE basis for a country, and the U.S. has $14 trillion in income, this would amount to a PE of 24.

      • 2 Replies to docjoe999
      • Doc, this is silly beyond belief.

        Just assume for a second that Friedman is right about his 'estimate' of America having a net worth of some 340 trillion dollars.

        As to why I should believe such an assertion without more detail, and a beakdown, I don't know, but that's beside the point....atleast for now.

        But lets look at this 340 trillion assertion and see how it measures up...

        If America's net worth is indeed 340 trillion and the debt is 'only' some 11 trillion or so, why is it that the government runs deficits?

        With an economy worth so much, why can't the country generate enough GDP such that the country earns enough to balance its books?

        A measly debt of 11 trillion vs a net worth of supposed 340 trillion? That would be chicken feed.

        seems to me this is no different than some company that keeps saying it's book value of it's assets are worth such and such amount, yet keeps reporting outsized losses.

        At some point, if you can't generate enough of a ROA such that you can't meet debt service, maybe the assets aren't worth what you say they are huh?

        Or think about it this way...if the avg net worth per American is over a million dollars, just why are there so many people struggling?

        And why such a challenge to provide for the people with such an endowment?

        This makes no sense and Friedman is full of it on this issue.

      • He is so full of rubbish!
        He pulls out some stupid numbers out of his hat and hopes it will stick!
        All i know that he was saying gold will go up to some ridiculous number and so I bought gold and gold shares and lost lots of money! I think we said $10,000 an ounce?
        Other guy who is rubbish talking is Rubbini!
        But atleast Rubbini has admitted he is long on the U.S. stock market.
        If I had my way I would put Peter Schiff on a space shuttle and let him live on Mars/Venus/Mercury/Jupiter/Saturn. Anyway but Earth!

4.93-0.19(-3.71%)Nov 27 1:02 PMEST