In 2005, US Economy Lost 51,000 Manufcturing Jobs and Wages Lagged Inflation

AmericanEconomicAlert.org ^ | Thursday, January 12, 2006 | Professor Peter Morici

[expat_panama]

...each $2 trillion increase in debt gives us 5 times that in net worth...

There are some people who object to debt on religious grounds.  They honestly believe they'd be more righteous or something if they starved, rather than to be rich if it meant owing someone a dollar to get there.  

This may be another reason why religious freedom is necessary for economic well-being.   You can imagine what these fanatics would do to a country.

[Age of Reason]

To keep their currencies cheap against the dollar, China and other foreign governments buy billions of dollars of U.S. government securities. Foreign government purchases of U.S. securities drive down long-term interest rates, and these make possible inexpensive mortgages and home equity loans.

There's likely what's at the bottom of our housing bubble.

By buying U.S. govt securities, they also keep the value of Chinese good less expensive to us than our own manufactures.

Those SOB's are screwing around with OUR economy to benefit their own.

End free trade, now!

Check out "COMMUNIST GOALS" number, 4:

"4. Permit free trade between all nations regardless of Communist affiliation and regardless of whether or not items could be used for war."

http://www.freerepublic.com/forum/a3adc7bc61fc7.htm

[Glenn]

to think some of these folks are posting in a conservative, facts oriented forum

What facts? The depression never happened? Asian markets never tanked? The S&L scandals were fairy tales? Enron was a great corporate citizen? China doesn't own over a trillion in US debt? Social Security is solvent?

The economic "Perfect Storm" is always one stupid decision away as long as the US lives on the edge.

[stands2reason]

Restaurant managers aren't outsourced either.

[Age of Reason]

Ahhh the doom an gloom articles

So tell me something--

What if someday all products and services could be bought via import and outsourcing more cheaply than any could be supplied domestically?

Frankly, I can hardly imagine a profession that technology someday might not allow to be done overseas more cheaply.

Is free trade then still wonderful, with all of America out of work?

And if it's just "menial" lower-end jobs that America loses, what then to do with the 50% of Americans having IQ's of average or less--send them all to medical school?

[Toddsterpatriot]

China doesn't own over a trillion in US debt?

Hey chuckles, got a source for this BS?

[Coop]

What if someday each house has a bagful of gold?!?

[Glenn]

Hey chuckles, got a source for this BS?

I was ranting. The actual amount is more like 300 billion. Peanuts.

[Toddsterpatriot]

The actual amount is more like 300 billion. Peanuts.

Wow, less than 4% of our Federal deficit. Sounds series.

[in hoc signo vinces]

Tell me something, what is your definition of FREE TRADE?
(Seems to me that though BUSH is a FREE TRADER, where trade hasnt been "fair", he's imposed sanctions to keep things honest.)

My problem with the sky is falling, doom an gloom, crowd is simple. Rarely do they have an understanding of MACROECONOMICS, and most of the time are just alarmists. Granted all things should be subject to valid criticism, but that's "VALID" criticism. Not American workers union driven propaganda

Also, what is your definition of competitive advantage?

Which Americans have low IQ's, and if they do, what exactly is the root of that problem that requires fixing? And, honestly, dont you think that fix comes in modifying something other than Free, but fair, trade agreements? I would think so.

[remember]

China doesn't own over a trillion in US debt?

:

The actual amount is more like 300 billion. Peanuts.

Wow, less than 4% of our Federal deficit. Sounds series.

I think you mean 4% of our Federal debt, not deficit. Also, I suspect that you mean "serious" not "series". In any case, the following graph shows the major foreign holders of the debt through March of 2005.

The actual numbers and sources can be found at http://home.att.net/~rdavis2/tshldrs.html and updated numbers can be found at http://www.treas.gov/tic/mfh.txt. The top ten foreign holders of Treasury securites as of October 2005 were as follows:

MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES
(end of October 2005, in billions of dollars)

Japan                      681.6
Mainland China             247.6
United Kingdom             187.1
Caribbean Banking Center   113.5
Taiwan                      71.6
Germany                     64.4
OPEC                        63.8
Korea                       61.4
Canada                      51.7
Hong Kong                   47.5
------------------------  ------
All Foreign Nations       2102.0

[ElectricStrawberry]

Ummmmmm....that's why there's these things called SAVINGS ACCOUNTS.

When THE industry in a city collapses (as did the steel industry in Pittsburg) there are 2 types of people.

Those that whine about losing their job and how the gubmint isn't giving them a new one...and those that move somewhere else or retrain for another career.

Which are you?

[Toddsterpatriot]

I think you mean 4% of our Federal debt, not deficit.

Yes, you are correct.

Also, I suspect that you mean "serious" not "series".

Wrong, newbie :^)

[investigateworld]

The better question may be this: will the Globalization of the American economy lead to the loss of American sovereignty?

Little update here to your question.....

We now have a Socialist President, how long do ya think we'll keep our Sovereignty

[buckalfa]

That was a blast from the past !

Hindsight is twenty-twenty.I do not feel the situation would be much different under McCain— Tarp, stimulus, foreign bailouts, health care reform would still be order of the day. Only the intensity of change and the leftist infiltration of the bureaucracy would be less.

There has been a steady march towards American socialism and the one world government since before the turn of the 20th century. The tea-party movement and voter angst cannot turn the tide. There is only one option left which does not need to be said.