Where is the US economy headed?

@hawkeye10,

I can not believe that we finally agree on something: that we have too many roads. Who would have thought that you would be able to recognize that?

I picked the most basic of examples because I was considering my audience.

But,as America almost always has a centrist to right government, the liberals are not to blame.

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@plainoldme,

Today's liberals are Odem (i.e.,Obama democrats).

Odem are the folks who are gutting America including, but not limited to, American Manufacturing.

Odem appear incapable of understanding the real consequences of what they propose to do and what they do do.

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The Sound Of China Breaking?
Good evening. There is some potentially troubling news from China re its economy that could affect us.
In April, inflation for consumer goods spiked up 2.8% while the values of real estate jumped 12.8%. Bank lending rose by the equivalent of $8.4Bn.
For the 1st quarter, the Chinese economy grew by an annual rate of 11.9% while industrial production was up 17.8% and retail sales were up 18.5%.
This is a bubble that is not sustainable.
The logical solution is to raise interest rates to tamp down lending. At the same time, the government should work to raise the value of the currency, the yaun, to make exports from China more expensive for its trading partners.
I am not sure how this will play out with those Chinese in the mid or upper class but probably will turn out well with the masses.

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@realjohnboy,

Quote:

I am not sure how this will play out with those Chinese in the mid or upper class but probably will turn out well with the masses.

China has all the markings of being in the midst of a huge bubble....we know what that means re the future....

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@ican711nm,

http://www.youtube.com/watch?v=AIsU39W77uo

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@plainoldme,

plainoldme wrote:

I have two contributions that need to be examined together. The first is from "Reason," a libertarian magazine: http://reason.com/archives/2010/05/07/we-are-out-of-money
........................
The liberals are not the folks who gutted American manufacturing.

pom, I will give you credit for recognizing a problem, and even posting some hints as to why it is happening, but it is amazing your conclusion is 180 degrees out of phase with the truth. The liberals sit squarely in the seat of being responsible. I would not be able to find it now, but I posted a number of months ago an excellent article about the collision course of the public sector vs the private sector, and what you have posted are excellent examples of this. We have seen the uncontrolled growth of public sector stuff, rise in public sector jobs, wages, and benefits, and along with that, the public sector is one huge component of the Democratic Party and even Union membership, because the unions have already helped drive private sector economy offshore, so their means of survival is to use government jobs as their constituency and power base. It has now reached the point where the private sector simply cannot pay for everything the people are demanding their government to do for them. After all, the money has to come from somewhere, and the government does not really produce anything and has no money without taxing the producers in this country, which is the private sector. So, as the private sector pays higher taxes and higher everything else due to the unrealistic influences of government sector jobs and activities, the private sector is forced to either go out of business or take their operations offshore to survive.

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@okie,

So, according to you, the liberals sent all the jobs overseas? Are they the same liberals that were members of the KKK? Are they same liberals who had sheriffs arrest black men all across the South for a century after the Civil War in order to fuel southern industry?

The problem is that the jobs were sent overseas. Guess it was all them thar liberas with them thar MBAs that done ruined budsness.

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America is on the verge of financial disaster.

Our Unsustainable Debt

Quote:

If these growing deficits aren’t addressed by immediately and dramatically slashing spending"and there’s zero indication that such a shift will happen anytime soon"we are about to embark on the most massive transfer of wealth from younger taxpayers to older ones in American history. It will be not just unprecedented but unfair: Our children will have to pay for the decisions we make today.

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@plainoldme,

plainoldme wrote:

So, according to you, the liberals sent all the jobs overseas? Are they the same liberals that were members of the KKK? Are they same liberals who had sheriffs arrest black men all across the South for a century after the Civil War in order to fuel southern industry?

The problem is that the jobs were sent overseas. Guess it was all them thar liberas with them thar MBAs that done ruined budsness.

Democratic and liberal policies, yes, absolutely, that is the primary reason we are in the mess we are in. Read or listen to your own links you posted a few posts back, pom, I am only agreeing with that, besides what I knew already.

And yes, it has been your heros, the Democratic Party, that drove the KKK and they still are keeping you on their plantation, if you are dumb enough and dependent enough to stay there.

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Irony time: I posted something from Reason, a libertarian organ.

My son forwarded the post to me with the note that his friend, now living in Israel, sent this to him and it is one of the most balanced pieces this particular friend ever endorsed.

A word on who this friend (I'll call him Simon) is: The son of a government employee . . . even his kids do not know which agency he works for . . . this young man is very right of center.

Simon is also a hard-core drug user who borrows money from everyone. The boy's mother called my son when they were still in high school and requested that my son no longer lend money to Simon. My son broke off his friendship and did not speak to Simon for two or three years. After Simon went to rehab . . . no one is certain how this happened . . . he contacted my son and they have communicated through Facebook.

I recognized the piece as not being "liberal," but thought I would post it anyway, balanced with the Chair City feature.

It is interesting that this post received a warmer welcome from the most right of the righties than most of my postings.

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@plainoldme,

How does this effect our economy?

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The U.S. TRADE Deficit hit $40.4Bn in March. That is the highest since the Fall of 2008.
Exports from the U.S. totaled $147.9Bn (up 3.2%) led by food and manufactured goods. Imports rose $188.3bn (up 3.1%) led by more oil at higher prices.
The dollar dropped against most other currencies.
Analysts expect the trade deficit will continue to rise at least through the rest of 2010.

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@plainoldme,

plainoldme wrote:

Irony time: I posted something from Reason, a libertarian organ.

My son forwarded the post to me with the note that his friend, now living in Israel, sent this to him and it is one of the most balanced pieces this particular friend ever endorsed.
......

pom, I cut the part about the friend of your son being a hard core drug user and all of that, as I have no clue why that should have anything to do with the article you posted, but I did have one thought, maybe the friend of your son is awakening out of his drug stupor long enough to begin to appreciate some hint of balanced reporting?

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And the dems said they would never do this...

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=533718

Quote:

In January, Bloomberg reported the "U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and individual retirement accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry."

Alarms went off. In February, former House Speaker New Gingrich and policy analyst Peter Ferrara warned in our "On The Right" column that "Washington is developing plans for your retirement savings."

"The idea," they said, "is for the government to take your retirement savings in return for a promise to pay you some monthly benefit in your retirement years.

So now they are looking for ways to come after our 401k's.

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@mysteryman,

mysteryman wrote:

So now they are looking for ways to come after our 401k's.

I've heard about this quite some time ago. The dems will not ignore any reservoir of money or wealth that they might think they could get their grubby little hands on. Vote early and often in any future election, thats the best solution I can think of.

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Obamanomics keeps roaring down the tracks. But libs here won't believe it because surely its a lie put out there by Fox News. Yes, its Fox News fault! If they would not broadcast this, it wouldn't be happening.

http://www.foxnews.com/politics/2010/05/12/federal-budget-deficit-hits-time-high-april/?test=latestnews

"Federal Budget Deficit Hits All-Time High in April

The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record."

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@okie,

The answer to this is obviously to ban Fox News. Besides, information is nothing more than a "distraction" according to Obama.

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Nancy Pelosi & the left are claiming that we are paying LESS taxes with Obamanomics in place.
Bullshit!

Our tax burden is down, because our economy sucks.
So what Nancy Pelosi has done is take credit for the fact that the Obama economy sucks!

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@H2O MAN,

H2O MAN wrote:

Nancy Pelosi & the left are claiming that we are paying LESS taxes with Obamanomics in place.

And if Fox News does not report the truth, this will become etched in stone by the mainstream press. And as Obama says, information is a distraction. So is the truth, H2OMAN, it is merely a distraction. So quit posting your distractions!!!!!!

1 Reply

@okie,

Also, the libs have told us the Laffer Curve is also a figment of our imagination, it does not exist, so don't even suggest that higher tax rates can suppress the economy and suppress tax revenues either!

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Where is the US economy headed?

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