Posted on 02/28/2005 11:54:16 PM PST by beyond the sea
The U.S. economy is headed toward crisis, and the political leadership of the country – if it can be called leadership – is preoccupied with nonexistent weapons of mass destruction in the Middle East.
The U.S. economy is failing. The afflictions are serious. They could be fatal even if diagnosed and treated. America is losing the purchasing power of its currency and its ability to create middle-class jobs. Story Continues Below
The dollar's sharp decline and projections of continuing trade and budgetary red ink are undermining the dollar's role as reserve currency. A number of central banks have announced that they will be diversifying their currency holdings and will not be buying dollars at the same rate as in the past. This will put more pressure on the dollar. At some point, the flight will begin. Instead of buying fewer dollars, central banks will sell dollars, hoping to get out before the dollar hits bottom.
Suddenly, the advantage of being the reserve currency becomes a nightmare, as the world's accumulations of dollars are brought to market. An enormous supply and weak demand mean a very low exchange rate for the once almighty U.S. dollar.
Overnight, those cheap goods in Wal-Mart, which are the no-think economist's facile justification for Wal-Mart's decimation of communities, small businesses and employment, shoot up in price.
(Excerpt) Read more at newsmax.com ...
The dollars' decline will drive up the price of all inputs except U.S. labor, which is being substituted out of production functions and replaced with foreign labor.
The decline of the U.S. dollar would make U.S. labor more competitive against foreign labor. What he's basically saying is this: "The decline of the U.S. dollar will drive up the price of everything except U.S. labor -- but since there's a positive side of that I have to pretend those jobs are going to disappear some other way."
read samuel huntington's new book "who are we?". global corporations who ignore national interests are a great threat to america...
Thanks and you're right ... a great study in the human condition.
Key word bolded.
He then became an American-hating freak obsessed with "the Joooooos."
You're in the great majority with your thoughts.
I almost feel like I should have left this on Newsmax. ;-)
Unfortunate to listen to them, tragic to elect them.
IMO, the author hijacked his own forte in Economics with a quickie piece as a vehicle to work off his own political anti-Bush sentiments, and rather transparently I might add.
Stopped reading at that point...
This is my last reply, William Terrell, because I'm starting to think that you're being deliberately obtuse here.
I'm not judging his knowledge in one area by his knowledge in another-- I've judged his INTEGRITY, which is indivisible and essential, and found it wanting. Therefore, I have no interest in listening to the guy, on ANY subject, but most especially on a subject in which I am not an expert. (I COULD listen to him, without risk to myself, on a subject in which I am an expert, but 1) that's not the case here and 2) there's no reason to.) So, his credentials are of no interest to me, period.
Look at it like this-- would I take on a business partner whom I knew to be unfaithful to his wife? No. If he'll cheat her, the odds are much greater that he will cheat me. It's not assured, but why run the risk? There are plenty of other potential business partners of good character to deal with-- I don't need that guy.
I think he will agree with you.
By deliberate treasonous design of the globalists, true.
But more by our immorality and God having to allow us some discipline and heavy duty judgment.
The only answer to the debt problem is for the Congress to repudiate the debt and start with a clean slate.
I totally agree with those comments about hard-working Americans. When I'm in an airport and see all the business being conducted on the fly by cell phone and laptops all around me, I am struck by the tremendous productivity of American workers. I always say special prayers for these people, because they are really the backbone of the country, making everything else we enjoy possible. Too bad the lousy, wasteful government cuts itself in on such a large chunk of these producers' paychecks. Were it not for this, there would be no headlines like this article.
1) We've HAD our tax cuts.
2) Bush is no Reagan.
Reagan's one huge mistake was getting talked into putting Bush Sr. on his ticket. That apparently small decision changed the course of our history .... leading to 8 years of Clinton followed by 8 years of neocon domination.
If you're talking about Roberts, I don't know.
I had a hard time with that first sentence too
It ain't brain surgery folks, he's talkin bout Eye-ran.
Good point!
If the trend can be sustained we can become as closed minded and ignorant as academe! (/sarc)
"The issues are important, but someone who buys into obvious lies and hyperbole on one issue is not credible on any other.
Most of us don't have sufficient economic understanding to be able to pick apart the data and logic that support his other conclusions.
Besides, character cannot be compartmentalized-- bad character, bad faith, seep from one area of our lives to another, from one issue to another. In my view, that was the lesson of the Clinton administration, that people with no integrity in one area of their lives won't have any in any other area either.
There are plenty of intelligent and knowledgable people writing on every issue under the sun, and on every side of the issues-- there's no need to ever listen to someone who believes and propagates lies."
walden #170
" Yes, it is possible, but I read supposedly informative articles in order to get informed on an issue, which means that I am not already an expert. Because I am not an expert, I need to be able to trust in the integrity of the writer and if I can't, that writer is worthless to me.
On the other hand, if I'm reading on a subject where I AM an expert (my professional field, for instance) just to see what others think rather than to extend my expert knowledge, then the character of the writer is less important to me. In that situation, I can completely and accurately assess the writer's data and logic (and know what information and arguments he has omitted as well). His integrity is irrelevant-- although I think it's always worth supporting the honest scholar against the liar, simply because a world with fewer liars is a better world. ;)"
walden 183
I would think that the character of the person is always in question and therefore in play.
Possible? Yes. Wildly inappropriate? Yes.
You're sounding like Larry Summers.
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