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 ...
Perhaps you'd prefer Russia as the superpower of the world?
In the ensuing years, either he's gone off the deep end or I've done. The latter prospect is scarier than the former.
The economy **is** in trouble...long-term. The US middle-class was mostly created after WW II. The US had the advantage of an undamaged physical plant, cheap energy, an overlarge labour force courtesy of the GIs all coming back w/in a 2 yr period, and little if any competition from abroad. That's the good news.
The bad news is that, beginning not later than 1949, the Regress took it into its mind (if such it may be called) that this happy situation would persist forever, and they've operated on that premise ever since, blithely disregarding any and all evidence to the contrary, with their only imperative being to get re-elected.
The bad news has been enhanced with not a little help from the LBJ-type socialists, the one-worlders, the anti-American crowd, and a considerable number of people who simply cannot add, the Panglossians, the Micawbers.
Add to this unfortunate mix the IRS 'Code', which has continued to make the bearing and raising of children both an accounting and an actual liability to middle-class parents since roughly 1954, and ...this economy be in a heap o'trouble.
How does it all play out? Darned if I know...but the train has left the station.
Three choices: be on it, be under it, or be Dagny Taggart.
I don't know that that is true.
Bush-hating makes strange bedfellows.
Maybe you have reading comprehension issues, you sure seem to. Would I be lamenting the death of our new weapons tech then? Or maybe it's Russia on your brain?
John LeBoutillier hates Bush.
He is the problem with the thesis: AMERICANS work harder than all the other pieces of shit all over the world- period.
Story closed, thesis debunked.
Here is the problem with the thesis: AMERICANS work harder than all the other pieces of shit all over the world- period.
Story closed, thesis debunked.
China would not be impressed. They would no longer exist if they attack us. The F-22s are in the process of being fielded. The JSF is coming soon. Just one nuclear submarine carries more nukes than China's entire arsenal combined. They are no match for us.
Syria and elsewhere?
Man, is that guy in a bad mood!
But you have given it away free..no development costs...to the thieving Red Chinese...your real enemy and the ones goading Islamist fascism..they have 100000 man army in Sudan and South Africa is theirs also...the Romans fucxed up like this too...look and learn....get beyond the shoulder patting , self-congratulating platitudes and wake up to what has and is going on...
They have over 300 nukes, well enough to reach most of our western half of the country, up to Salt Lake City. The loss of California, Seatle and Portland would end our economy. Also, thanks to Clinton, they have MERV warheads.
And even so, I was thinking more about Iran than Iraq. How disingenuous is it to ignore the WMD threat from Iran?
As per the dollar, others who know him better say he has a savy take on economics. I hope its better than his foreign policy punt. [shrug]
It is, but try to avoid the right/left concern, and read the words. Labels only cloud an issue, imo.
The author still does not understand that our best 'information gathering sources' told the whitehouse that Iraq had WMDs. The author has allowed the liberal liars to brainwash him into believing their baseless propaganda.
Ah, but Bush and left/right is at the center of this, because Bush-hating is PCR's purpose here. This isn't a case of "things are bad, I blame Bush." It's more like "Bush is bad, I blame Bush."
He's a Pat Buchanan with a stronger resume. But he's in bed with the Bush-hating left. There's no avoiding it.
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