Posted on 02/18/2005 9:55:18 AM PST by Willie Green
Well, I note that I spend lots more money at Publix Supermarkets than they spend on me. That must mean I'll be going down the tubes to economic defeat pretty soon.
Mr. Hawkins said:
"This [large trade deficit] is a situation usually associated with underdeveloped countries on the brink of financial collapse."
THAT is a FALSE STATEMENT, rather easily disproved.
And Mr. Hawkins also said:
"The Bush Administration is ideologically opposed to doing anything about the deteriorating international situation."
THEREBY exposing his own ideological "agenda" -- since the recent decline in the dollar is hardly a secret.
So, what you're pushing here, Willie, is "Junk Economics".
Maybe you need to spend a few days enjoying the economies of such "Workers' Paradises" as Germany and Japan.
Oh? What's that? High unemployment and economic recessions do NOT fit your definition of "workers' paradise"?
Well, then...
Back to the "ole drawing board" for you, eh?
Sure we do. Dubya has to borrow money from foreign nations to increase all those government service jobs.
Like that cheap subsidized sugar?
We can cut $34 billion in income and corporate taxes. How much Congress spends is another argument.
Mr. Hawkins said:
"This [large trade deficit] is a situation usually associated with underdeveloped countries on the brink of financial collapse."
THAT is a FALSE STATEMENT, rather easily disproved.
And Mr. Hawkins also said:
"The Bush Administration is ideologically opposed to doing anything about the deteriorating international situation."
THEREBY exposing his own ideological "agenda" -- since the recent decline in the dollar is hardly a secret.
So, what you're pushing here, Willie, is "Junk Economics".
Maybe you need to spend a few days enjoying the economies of such "Workers' Paradises" as Germany and Japan.
Oh? What's that? High unemployment and economic recessions do NOT fit your definition of "workers' paradise"?
Well, then...
Back to the "ole drawing board" for you, eh?
I knew 1975, Willie. 1975 was NOT a good friend of mine -- or other living creatures who like prosperity.
Has the dollar declined since then? Or have we wrung out inflation? Perhaps you don't recall Jerry Ford and the stupid WIN buttons. Or wage and price controls? Or double digit mortgage rates?
Mr. Hawkins said: "This [large trade deficit] is a situation usually associated with underdeveloped countries on the brink of financial collapse."
THAT is a FALSE STATEMENT, rather easily disproved.
Uganda Trade Deficit Swells
And We have the SAME amount of Public Debt! 62% of GDP !!!
(Okay, Uganda's debt situation is a little better than ours.
Theirs is actually 62.2% and ours is 62.4%
So why quibble over a mere 0.2%???))
So does every other country. What's the world to do when the world bank calls in all it's debts to all the countries in the world?
As far as the national DEBT is concerned, It's been much higher than it is now, and in fact percentage wise, it's less than it has been, well within perameters. No worries.
You are correct, it is to late to save the American economy. We as did Spain and England before us by adopting "free trade" policies, will decline as a world economic/miltiary power. Europe has already over taken us in the very hi tech civilian aerospace. Japan and China have over taken us in ship building. Asia has already over taken us in consumer electronics and computers. And the list goes on and on and on. Soon, India will over take us in programming. We have a good lead in medical technology but India is catching up fast.
But we have plenty of forests and farm land so our children can surivive by supplies the more advanced nations with the raw materials thier economies need. Plus, the cost of living in poor nations is much lower that of advanced so we will should be able to attrack plenty of wealthy tourists from the first world nations of the future.
First of all, I didn't say toss a tariff on everything. Second, Americans pay the taxes no matter where they're derived from, Third, foreign companies could not compete with us if we start lowering the cost of production.
The 60-70's were when free trade absolutists started to tighten their grip. We had all the free trade talks, we went off the gold standard for good, taxes and spending and inflation went higher and higher. These were not conservative years. These were the years when the enlightened ones took power. Nixon "we're all keynsians now". Give me Ronald Reagan and Calvin Coolidge and Adam Smith any day.
I know. I disagree completely with Buckley on this.
A tariff is a tariff is a tariff, no matter what you name it.
Or when they bought Pebble Beach. Which several years ago they had to sell at a massive loss.
True, but what's the goal? A protective tariff is used to cause the import's price to be higher than the domestic item's price so that people will buy products made in their own country.
A revenue tariff is an excise used to raise revenue only. The products taxed would be chosen to generate the most revenue with the least harm.
of course, these can be combined. But a protectived tariff is generally much higher, such as the 100 percent tariff that Reagan put on Japanese motorcycles to protect Harley Davidson.
Oh, I rember those "wonderful times" when I got caught in big debt with a 17% mortgage. The supposed "good old blue collar days when a worker could afford a house"... NOT!!!!! I recall working 20 hrs a day to keep my last nostril above water too! Damn near lost it all back then.
Willie, debt and deficit are two different words that you seem to be confusing.
"Public debt" is not the same as "trade deficit"
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