Are we having problems financing our debt? US seeks 300 billion dlrs from Gulf states: report

[girl gone mad]

KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.

Quoting "highly informed" sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.

Al-Seyassah said Washington sought the amount as "financial aid" to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.

The four nations, all members of OPEC, produce together 14 million barrels of oil per day, around half of the cartel's production and about 17 percent of world supplies.

The four states are estimated to have amassed close to 1.5 trillion dollars in surplus in the past six years due to high oil prices that rocketed above 147 dollars in July before sliding to just above 50 dollars.

http://news.yahoo.com/s/afp/20081120/bs_afp/financeeconomyusgulf_081120072928

[aquart]

1. And if they say no?

[exboyfil]

2. Printing presses R us

Bernake get them rolling.

[Odin2005]

5. Well, we are experiencing DEFLATION so expanding the money supply is not a bad idea.

Deflation was a huge problem during the Great Depression, and that is where Bernake, who is an expert on the Depression, got his "dumping money our of helicopters" remark from, to prevent deflation

[elleng]

3. Sounds like me,

trying to accumulate for tuitions: 600 from Asia, 500 from Stocks, 200 from Bonds!

We're all in the same (damned) boat, I guess!

[HamdenRice]

4. They would be more effective asking these countries to make direct foreign investments

Just buy up factories, retailers, whatever. This crisis was caused by trade imbalances, but also by those trade imbalances being recycled only into financial assets.

Let the world come buy us up and put us to work for them, and the economic crisis will resolve itself.