Posted on 09/14/2007 7:22:12 AM PDT by Robert Drobot
Have you been to UK lately, or France, Italy, or Germany and tried to buy a cup of coffee or tea or wine?
Holy smokes.
We gotta get rid of this debt somehow. It’s killing us.
And that's a bad thing?..........
I have a "trade deficit" with Wal-Mart and Winn-Dixie.............
Worthless babble appealing to the clueless.
But they have to spend it in order to use it, else it's worthless...................
Don’t worry. Hillary will fix everything by eliminating the “the excesses of the market place,” giving everyone free health care, and increasing taxes on the rich.
Re: In the 21st century, the U.S. economy has ceased to create jobs in export industries and in industries that compete with imports.
Until this changes, the future does not look good for younger generations.
The ability of the U.S. dollar to retain its reserve currency status is eroding due to the continuous increases in U.S. budget and trade deficits.
::::::
All at the feet of Washington and its malfeasance. Tax and spend and give America away — they simply do not care about what they are doing to this country.
Meanwhile, companies making goods for export are working at capacity. docks and warehouses are covered up with stuff being readied to ship.
Workers are putting in long hours and working weekends to keep up. The Low $$ will insure the export boom continues and insure that countries with currencies tied to the $$ also benefit in the good sales times.
Indefinitely. I do it every day.
Debt is never good. My view of debt is best summed up by Proverbs 22 verse 7
“The rich ruleth over the poor, and the borrower is the servant of the lender.”
Whether you believe of not the Bible offers a lot of sound advice on daily matters. And it never talks of debt as a good thing. Not once did God bless his children with easy credit and low monthly payments.
We give them pieces of paper with pictures of dead white guys on them, and they give us real good stuff.........
So we are on kind of a bad ripple right now, but the overall economy is still sound, and has good prospects of recovery. A few will be hurt (there always are in any readjustment), but rarely is the injury permanent or totally disabling.
America survived the Great Depression, in spite of all the efforts under the New Deal to prolong it far beyond the normal cycle. Natural market forces WOULD have had the problems solved by 1935, if all the social engineers had just kept their hands off. As it was, the Great Depression was worse in 1938 than it was in 1933.
We’re all gonna die!
< / apocalypse>
Not to worry. We imported about 85,000 more illegal aliens during the same time frame to nearly triple the comparable exploitation of the American Middle Class.
And our overlords tell us we need to import more.
Every time I hear the “we’re doomed!” stuff from economists, I remember how excited Brazil once got when economists predicted they’d be a world market.
They even built a brand spanking new capital city.
Also, how many times did we get told that we’d be buried by the marvelous “5 Year Plans” of our, once upon a time, primary competitor?
Nothing in here I haven’t heard for the last 25 years.
In those 100 quarters only 6 had negative economic growth.
American prosperity is an amazing thing.
And when has this not happened before? The "rich" and the "poor" are where they are and both for the same reason. They both keep doing that which continues their status.................
Yep.
A search of Paul Craig Roberts covering the past decade shows every six months he predicts the economy is ‘doomed’.
Funny how he never bothers to address why his previous prediction of ‘economic doom’ didn’t come true....(chuckle)
Its telling he’s citing 340,000 workers ‘dropped out of the workforce’ but doesn’t note how many ‘left’ to go back to SCHOOL.
These guys crack me up, til somebody takes them seriously.
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