Have a nice day.

And you Bob, so much time, so little change.

Bob you are utterly stupid. There's as much as a trillion barrels of oil shale here just in the rocky mountains. As usual Buffalo Bob took the democrat math course and failed.

Magic Negro

Pretty amazing statistic. Is the US only worth $56 Trillion? Pretty cheap if you ask me. GDP is 1/4 that, so the author suggests that the US assets are only worth 4X GDP?

Now that Bush's policies have enriched the oil-kingdoms and oil-theocracies and oil-garchs all around the world (heard on the radio yesterday that the average salary in Dubai for a 24 year old man is 180K/p.a. not taxed!), how are they going to adapt their foreign policies to a less oil friendly US foreign policy? With gratitude; or resentment?

Townncountry

They subtracted all the debt and took it to a balance sheet. Maybe you should read things before commenting on them.

They subtracted all the debt

Didn't you know that deficits and debt doesn't matter?

2008
$56 trillion**
$140.00
400 billion

**Through March. Sources: Federal Reserve, Bloomberg

After the last 3 months of economic activity I would guess the number would be less than 400 billion barrells now.

TnC and Bob, Please note that the Net Worth of the entire US is not $56 Trillion. 56T is the NW of only its households and non-profit agencies. When you add the net worth of the national assets, such as oil and other resources, federal land, and entities such as corporations, you get a much higher net worth.

The debt that you're talking about, Bob, is household debt, not national debt. I looked around a bit but couldn't find the actual net worth of the US; assets of the US minus US debt = actual US Net Worth.

In other words, Saudi Arabia and Iran could "buy" our assets for 400B barrels of oil and still would not own the US - they'd only own all household assets (and all their debts as well!)

Bartimus

That isn't what the link says. It says the Entire Country. You shouldn't make up things.

If we could only harness the energy from those smokestacks on the moon.....

Watch out or Boob will beat you with his car antenna.

Car Antennae should be banned! They are dangerous and KILL people!

FACT!

Bob, not making it up - From the article:

"I learned this by measuring the net worth of all U.S. households and nonprofit organizations in barrels of oil. Every three months the Federal Reserve estimates the value of our collective tangible assets, financial assets and liabilities to arrive at our net worth. It's the whole enchilada -- all our cars, our houses, our durable "stuff," bank deposits, stocks, bonds and mutual funds."

The article is only calculating the households and NP orgs. The author says this further down in the article. Plus, if you look up the Fed Reserve figures, you'll see they don't include the national assets. only households. READ THE WHOLE ARTICLE BOB - THEN DO SOME MORE RESEARCH BEFORE BELIEVING 1 DUDE ON THE INTERNET.

Bartimus

I guess you think stocks, bonds, and mutual funds don't affect businesses. What it means is--any business with stocks is included, since people own the stocks. That means businesses like Microsoft and Yahoo and General motors were included. That means--the entire country.

Good thing wealth is being created daily by people with more to do than sit around and complain about America.

Really? How much stock do you (or anyone) own in national forests, for example? How much is that land/wood/resources alone worth? None of that, or any other national assets (such as oil), are calculated in the net worth.

Bartimus

"Today, the net worth of the entire country is equivalent to a mere 400 billion barrels of oil."

It says "entire country". It doesn't exclude national forests.

I'll give you 100 barrels and that's my final offer. But you have to keep Cheney.

Oh no, Cheney is absolutely part of the deal.

Oh no, Cheney is absolutely part of the deal.

So do we give the oil to the chi-coms or sauialquedians?

Republicans in office are more dangerous than car antennas!

FACTORIAL!

Who in hell would be willing to buy the USA seeing that it has at least 10 times more in liabilities than any asking price could possibly get!

The only way that the USA could ever reasonably become profitable to any buyer is if the government in Washington DC and all its henchmen (including politicians and lobbyists) are completely eradicated and wiped off the map plus NAFTA would quickly have to be cancelled and done away with.Then the USA and its people would have a fighting chance for some kind of positive future whereas now,in its present clutches of the corrupt Bush Regime,the USA has only one direction to go and that is where it is already headed i.e. right down the shit hole!

We already do own large swathes of America. Most people just don't yet know it.

We will continue to buy up more and more of America. Corporations, land, art works, cultural icons and on and on. So long as America remains addicted to oil there is not a single thing any of you can do about it.

" there is not a single thing any of you can do about it."

Riiiight.....we could easily get pissed and decide that what is good for us constitutes what is moral and equitable just as most societies do. My bet is that is exactly what we will eventually do. Personally, I can't wait.

At least we're bailing out the mortgage fraud crooks.

The average annual income in Oil Rich Saudi Arabia is $12,500. What the fuck is the Royal Family doing with all that money?????????????? Educating its people????????????? Creating an economy of opportunity??????????? THE SAME THING ROYAL CROOKS DO IN THIS COUNTRY.

Could this have anything to do with Terrorism??????????? I mean who doesn't like to be screwed Royal.

The fix is in. Not if you believe the meathead Shrub.

"Now that Bush's policies have enriched the oil-kingdoms and oil-theocracies and oil-garchs all around the world"

Guess you'll have to tell all the other countries around the world that President Bush is the person responsible for the price they pay for oil - LOL. Are you so ignorant as to actually BELIEVE what you spout, or do you just like to blame President Bush for everything? [I hope it's hate Bush rather than admit being STUPID]

There's as much as a trillion barrels of oil shale here just in the rocky mountains. As usual Buffalo Bob took the democrat math course and failed.

Magic Negro

Posted by magicnegro

good luck extracting that..dont smoke too much chronic in the process of figuring out how to do it..

We will, with no real effort, squander it for much less.

"We will continue to buy up more and more of America. Corporations, land, art works, cultural icons and on and on. So long as America remains addicted to oil there is not a single thing any of you can do about it."

If it got too out of hand, we'd just find a reason to seize assetts and there wouldn't be a single thing anyone could do about that.

"and there wouldn't be a single thing anyone could do about that."

Except, of course, refuse to lend us more money and/or invest in America. Oops.

"Except, of course, refuse to lend us more money and/or invest in America. Oops."

Not really. We just change presidents and the new guy says some nice words and then if people overseas still believe they can make money here (and many will) it would go back to business as usual. People have short memories if they think they can make money.

"People have short memories"

After you nationalize?

Get a clue.

"After you nationalize?"

Nationalize what? I was talking about robbing people.

It says "entire country". It doesn't exclude national forests.

Posted by Buffalo_Bob

"Entire country" is then qualified later on in the article as household and non-profit net worth. Public net worth is not included. However, this may just have to be a point we have to agree to disagree on.

Interestingly, I looked around at the net worth of other countries in the world, especially Europeans. Most of these countries have a NW of less than 5T; sometimes it's even negative! I wouldn't be too concerned that our net worth is "only" 56 trillion dollars. And by the way, it would now take 430 billion barrels of oil based on the trading price today. Looks like Kuwait or UAE will have to pool their resources with Iran and Saudi Arabia to buy the country!

"After you nationalize?"

Nationalize what? I was talking about robbing people.

Posted by Sully at 2008-07-18 09:38 AM | Reply |

There are always repercussions: if you mug the saudis, they can make you pay more than you can imagine. If you mug China, they'll bring you to your knees. Sure you could rob them, but to think that there would be no repercussions? Yeah, ok.

Republicans in office are more dangerous than car antennas!

FACTORIAL!

Posted by northguy3 at 2008-07-17 10:01 PM | Reply

"Sure you could rob them, but to think that there would be no repercussions? Yeah, ok."

My response to Allah Akbar's post was a joke and then when people kept responding to it I just kept going. I don't even know what the 9:38 was supposed to mean.

Silly article not worth discussing!