Richard W.
Posted on 12/18/2002 5:04:31 PM PST by rohry
This is one of the main differences between the US in the 1930’s and the US in the 21st century. During the 1930’s the US was a self-sufficient nation. It was self-sufficient in manufacturing with large trade balances with the rest of the world. It was self-sufficient in energy. During World War II the US supplied all of its allies with fuel and was the largest exporter of oil in the world. The US was also self-sufficient in capital. It was the world’s largest creditor nation. Today we find ourselves at the opposite end of the spectrum. We are no longer self-sufficient in manufacturing. Much of our manufacturing base has headed overseas. We now import many essential goods from raw materials such as lumber to finished goods. We are no longer a creditor nation, but have become the world’s largest debtor nation sucking in 80 percent of the world’s available savings. We now need to import $1.5 to $2 billion of capital a day to keep our economy running. In the area of energy we must import nearly 60 percent of all our energy needs."
What does this say? We what?
For a complete list of earnings warnings, go here:
Richard W.
"What does this say? We what?"
Balance of trade...40% of federal bonds owned by foreigners...X% of stocks owned by foreigners...Y% of dollars owned by foreigners...
Need I go on?
No, one needn't go on. One could though, especially if running for high elective office.
Frightening...
Anytime you see FED governors out talking trash about burying the planet in dollar bills, you know that we're in trouble. If the FED is panicing, what the heck should we all be doing?
Richard W.
Kudlow and Cramer are trashing gold and declaring deflation dead. They are very good contrarian indicators. Those guys are two of the biggest clowns on TV.
Richard W.
....."if World War Two were to come again there wouldn't be enough domestic textile capacity to put all the boys in uniform"....so says my father-in-law who retired after almost 40 years in the Carolina's textile industry....and BTW anybody who's ever seen what happens to a small town when the mill closes down knows how devastating it is in human terms.....and in a larger sense what is the long term strategic outlook for a country when it's citizens no longer know how to weave cloth, or how to make steel, or how to build ships or how to grow food?....
Good luck to everybody!
Stonewalls
Richard W.
.....hope everybody's got their Christmas shopping done... I experianced long lines at the registers at my local mega-mall and the Post Office was madness on Friday.
Good luck to everybody!
Stonewalls the Ant
2) I thought Blanchard had made a big deal about how they were leaving the gold-selling business, circa 2000, all but apologizing for having recommended that its customers buy gold for an investment. Has that changed? If so, when did that change?
If we were to fall into really bad times, what will make chaos in this country different from other countries; is the civilian population is well armed. - Tom
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