Where is the US economy headed?

@hawkeye10,

There was a guy, English I think, who said on TV last night that conditions for a world war will arise in about 18 months due to the opposition between globalisation and disputes over intellectual property to nationalism and resistance to a global regulatory authority.

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@spendius,

spendius wrote:

There was a guy, English I think, who said on TV last night that conditions for a world war will arise in about 18 months due to the opposition between globalisation and disputes over intellectual property to nationalism and resistance to a global regulatory authority.

it is a bit of a mystery to me how anyone thought globalization could work without a global government, in particular without a global military force. But I dont have a IVY league degree so what do I know.....

EDIT: along the same lines is the question of how was the EU supposed to work if there was no EU banking system? Was this always supposed to come later but no one admitted it when they asked to make the EU? Did no one think it was going to be necessary? Either way history indicts the leadership. Can there be any wonder why the masses are convinced that they are being lied to and that the ship is going down? That is the reason the economy will not recover, the masses have lost faith. Nothing can change our fate now.

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@hawkeye10,

The guy said he was optimistic I assume, but he didn't say so, because leaders are in the front line in the next world war.

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@spendius,

Quote:

because leaders are in the front line in the next world war.

Meaning they get personalised drones?

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Another indicator why no one can forecast economic activity - even when some 'facts' are known.

Quote:

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In other words, they're guesses.

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Sears To Close 80 Stores As Troubles Mount
http://www.huffingtonpost.com/2014/05/22/sears-quarterly-losses_n_5371593.html

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@Builder,

Quote:

Meaning they get personalised drones?

Some of them. The rest will be strung up on lamp-posts by the survivors.

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@Pamela Rosa,

I'm surprised Sears lasted this long! They've been going downhills for several decades.

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@spendius,

Quote:

Some of them. The rest will be strung up on lamp-posts by the survivors.

I see there's been a string of "suicides" and assorted "unfortunate incidents" involving banksters from several high-profile financial institutions of late.

Also heard that George Soros has offloaded his shares in three major banking cartels.

Might be time to hold onto your britches, or is that breeches over t'pond?

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@Builder,

Quote:

Might be time to hold onto your britches, or is that breeches over t'pond?

Not in the tailoring profession. Some ladies use britches to describe their unmentionables. Knickers is a bit forthright.

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@cicerone imposter,

cicerone imposter wrote:

I'm surprised Sears lasted this long! They've been going downhills for several decades.

I kind of figured they were on the downslope when they merged with the marketing geniuses at K-Mart. Actually, they were in trouble long before that, but is was a significant waypoint.

Penneys went through hell when their former CEO decided that people didn't like sales. Not sure they are going to recover, and as Hawkeye says, they are often the anchor stores at opposite ends of many malls.

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@roger,

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Penneys went through hell when their former CEO decided that people didn't like sales

JCP brought in that CEO because they were dying a slow death and wanted a new approach where they might survive. All he did was cut the veins, and sped up the process of death. But you cant say their death as his fault.

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@hawkeye10,

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All he did was cut the veins, and sped up the process of death. But you cant say their death as his fault.

Wasn't that kind of work Mitt Romney's specialty? Vulture capitalism?

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The EPA is set to announce emission standards for coal fueled power plants on June 2nd. The regs will be a pretty big deal and, of course, involve the subjects of global warming, intrusion into states' right and the. Obama administration's bypassing Congress.
It is sure to touch off a big debate ahead of the 2014 midterms and the 2016 elections.

I read an article in Scientific American (1/14). I almost was able to understand it.
It purported to show how long it took for an energy source to take from supplying 5% of global demand to where it was after 60 years.
Coal reached the 5% threshold in about 1840. It took 60 years to reach 50%.
Oil reached 5% in 1915 and in 60 years got to 40% and since then has probably not reached 50%.
Natural gas came on around 1930 and 60 years on has gotten to 25% of global demand.
Modern renewables have only reached the 5% in 2012.

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@Builder,

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Wasn't that kind of work Mitt Romney's specialty? Vulture capitalism?

Couldn't you also call it the realignment of capital assets in congruence with the facts of the modern world?

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@realjohnboy,

We've been hearing that the US will be self-sufficient on energy, but many people are advocating the building of the pipeline from Canada through the US to the southern states that has the potential of damaging our ecology and economy.

What's the best choice for our country?

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@realjohnboy,

Now that the rules will be rewritten every 4 or 8 years the economy will suffer, as the capitalists need to be able to predict the rules they will be operating under. This power grab by the executive branch is a bad idea for this and other reasons. At some point judges are going to have to grow a pair and step in.

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@hawkeye10,

I don't pretend to be all that knowledgeable about this, but as I understand it...
The Clean Air Act was signed into law in 1970 - when Nixon was President. It gave the EPA the authority to regulate emissions. The law was amended a couple of times and was decreed to be constitutional in 2007.
Congress, because of regional differences rather than party affiliation, has not tried to strip the EPA of its authority.

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@realjohnboy,

Quote:

It gave the EPA the authority to regulate emissions.

And we recently had a court case that asked does this authority extend to regulating out of existence sectors of an industry, and the courts said yes. Before now presidents would only pursue regulations up to the point that there was some consensus in the country because this is the best course for the nation. Obama does not give a ****, and he also does not care about long term consequences to adding instability to the economy as he moves the regulations sharply to one side which will almost certainly be changed sharply yet again when the other view gets into power. Obama wants what Obama wants and he wants it right now and he is willing to do what ever it takes to get it. This however does not include doing the heavy lifting of convincing the majority of the nation that he is right.

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@hawkeye10,

It's all a job creation scheme hawk. Nothing is going to be done about it because in Asia and other places nothing is being done except increasing omissions. And thus doing something about it worth doing will see the Dow at giveaway prices. And that is not going to happen on anybody's watch. Only a statesman can take that sort of heat.

Seeking guidance from the voters all the time is not unlike a prostitute seeking guidance from the John about which position she/he should adopt.

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Where is the US economy headed?

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