Posted on 02/04/2010 9:50:11 AM PST by blam
20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Michael The Patriot Blogger
Feb. 4, 2010, 10:26 AM
Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly.
But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.
The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.
And it is going to be painful.
[snip]
(Excerpt) Read more at businessinsider.com ...
The odorous laws stink. They're almost as bad as the onerous laws.
Do you know why?
That was good...I heard it too.
May the put options excel even better than before :)
“Making wealth off of money is what the real estate bubble and Wall Street securitization & derivatives mania was/is all about”
Thank you.
A country that makes nothing, and creates nothing will not survive. We are asking for it.
Nation with the most patents: America.
Nation with the biggest Takers: America.
I have been in finance all of my adult life. Forget about the long term liabilities like Medicare, for now. There is no way to pay them. Obama’has had one main goal since day one; to destroy our economy in the SHORT term. He is winning too. His new budget will finish us off....no need for O’care, or crap n fraud. They would merely be icing on the cake. This alone will do it.
“Nation with the biggest Takers: America. “
Yep ;-)
Now to just put those into action ;-)
You can not borrow yourself rich.
Toddster always says that we are a superpower when it comes to imports. You look to be from the same school
And is “manufacturing” Twinkies and Cheetos included in your boasts about US manufacturing? We may manufacture more than anyone else but we obviously don’t manufacture enough of the right things...Otherwise we would not always be running trade deficits more specifically merchandise trade deficits
Germany and Japan are near the top when it comes to manufacturing but they don’t run trade deficits. They rarely rarely run trade deficits
Feel free to subtract the bad manufacturing numbers from the totals and let us know what you get.
If you know how to subtract.
"just because a thing can be treated as if it were another thing"
No, "economic goods" has a definition, and money falls within that definition. It is not "another thing". It is like objecting to the statement that 2 is a number.
And yes, congress can and does bind its predecessors in procedural ways. The cloture rule in the senate may stand as an example, but entitlement legislation is another. Such laws require new votes to change a pattern of spending but none to continue that pattern. Since it is harder to pass new laws, this does bind successor legislatures somewhat. Not totally, as I said myself - with a sufficient majority any of its own rules can be changed. The same is true of all law and indeed, every social practice imaginable.
Right, infinity. Your cited source can't do math.
Are they worse than odious ones?
Yes, but better than the Oedipus ones.
What we need are targeted tariffs on imported oil/energy and on imported manufactures
We must extract and burn more coal for heat and electricity and we drill more for gas and oil
We can make our way to balanced trade and not run trade deficits
But even if we revive our manufacturing we will still have employment problems because manufacturing is so automated and computerized these days. The USA simply doesn't need a lot of workers these days to grow our food and manufacture what we need. We have a surplus of working age adults. What do we do with them? I would get them out to the rural areas via incentives. They just fester in the cities
What we actually have been doing with our surplus labor is giving them more and more education and over-credentialize them and while this is going on they are not in the labor force for the most part. When they finally graduate they teach crap and unnecessary subjects in our schools and universities. They become laywers and gum up the works. They become fake scientists stealing from the taxpayer via grants like the global warming researchers we have
It was better 100 years ago when the labor of every single citizen was needed
We allowed large waves of immigration to bring more workers here
We even had slavery just like the ancients did because there was simply not enough free citizens to do all the labor
“The USA simply doesn’t need a lot of workers these days to grow our food and manufacture what we need. We have a surplus of working age adults.”
It sure as hell doesn’t help to have 20 million illiterate, poor slobs who jumped our borders.
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