Posted on 12/05/2005 6:56:18 AM PST by 1rudeboy
Jay, I was PROVING YOUR POINT, not arguing with you!!!!
Ok... you never know these days... lots of folks think DEBT living = greater standard of living.. when in fact it robs them blind.
I guess OI didn't make myself clear. I cited my parents as an example of healthy financial living.
I posted the other as an example of today's upper middle class schmo. I apologize for having been vague.
A lot of our poor and lower middle class used to have better paying jobs. But their jobs were out sourced to China and Mexico. End result is that Wal Mart, with it's cheap Chinese merchandise, is the only place they can afford.
A vicious circle, downward spiral is created
"lots of folks think DEBT living = greater standard of living.. when in fact it robs them blind."
Correct
How does an undervalued currency make you a winner? You sell your stuff too cheap and you buy your stuff too expensive. Sounds like a government plan, not a winning plan.
That's right because if you looked at household net worth you'd see that it's at an all time high.
Correct!
You know that US dollars are only useful when buying US goods? So how does that not boost local economies?
There isn't anyone on this thread who isn't against illegal immigration. For some reason though you keep trying to equate the simple belief in free trade with support for illegal immigration. It's a horse that won't ride and you should stop beating it. It's dead.
Since NAFTA, our real GDP has increased from about $7.5 trillion in 1993 to almost $12 trillion today. The unemployment rate in 1993 was 7%. Today it's 5%. The S&P 500 was 466 in 1993, today it's 1,262.
The only giant sucking sound anyone hears today is from the holes in your argument that free(r) trade has somehow been bad for us.
Three questions:
(1) When you say "slave labor," do you mean chattel slavery? (If not, how do you define "slavery"?)
(2) What fraction of the Chinese labor force consists of slaves?
(3) Is slave labor more productive than free labor?
They BUY in asia where everything is cheaper than the US.
They STEAL technology in the U.S. as a profession.
five dollars for a 14 hour work day.
"That's right because if you looked at household net worth you'd see that it's at an all time high."
No, it is NOT.
Which of my questions are you answering?
How does a weaker currency make you a winner no matter where you buy?
They STEAL technology in the U.S. as a profession.
How is this related to their currency again?
Not remotely true.
The bulk of that "NET WORTH" is tied up to PAPER appreciation in their homes.. which, can disappear as quickly as it appeared... not to mention, that most folks have taken nearly every ounce of equity out of it as well.
Real Dollars, net worth is not remotely at an all time high. I've seen real estate markets lose over 100k in home value less than 12 months.. average cycle is 8 years.... most folks seem to forget or are ignorant of the fact that it doesn't always go up.
In terms of real dollars, and TRUE WEALTH... the typical household could not handle unemployment for more than 2-3 months before being flat broke.
Yes, some folks are living beyond their means and will certainly get in trouble for that reason. However, household net worth has almost hit $50 trillion (a record) and is double what it was just a decade ago. Makes it difficult to argue all that debt is killing us when those net worth numbers just keep going up, doesn't it?
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