Where is the US economy headed?

@georgeob1,

georgeob1 wrote:

I think it would be a foolish bet for either of us - too many uncontrolled variables and poorly defined reference conditions. However, I'm willing.

Alright then! I hate to go Freudian on you (NOT!), but your foolishness is bigger than mine. Not that there's anything wrong with a little foolishness.

1 Reply

@reasoning logic,

reasoning logic wrote:

Quote:
At the end of the day citizens need to be able to afford to buy the products in the markets, we have seen that left to their own devices that the holders of capital will most of the time work to drive down wages, thus destroying the capitalist economy.

Welcome to the reality of capitalism!

somewhere last week I noticed a pretty solid oppinion peace that has as the main takeaway that our current situation proves that Carl Marx was right......not than many would listen to that oppinion no matter how solid the arguement is...

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@georgeob1,

Perhaps I am guilty of some sloppy writing, George. I disagree with some of the other points in your little essay above. But I think we are in total agreement with regard to legal immigration.

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@Thomas,

Thomas wrote:

[Alright then! I hate to go Freudian on you (NOT!), but your foolishness is bigger than mine. Not that there's anything wrong with a little foolishness.

No argument there ... on either point.

It is interesting though to read the continued criticisms of conservative positions on these matters coming from those who themselves haven't offered anything more than tax, borrow and spend proposals that quite obviously (in my view) can't yield a solution to the complex of interlocking isssues facing us. Indeed, given our already high levels of debt, they won't accomplish the specific purposes for which they are rationalized.

To illustrate, the last stimulus package didn't produce significant construction activity at all. Instead it merely delayed constructive action in state governments to address their already excessive levels of debt, thereby making these interlocking problems worse.

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@georgeob1,

I don't believe it's a foolish bet for Thomas. I'm willing to bet on his premise about what would happen if and when the republicans take over DC.

When you say "too many variables," we all understand that, but we are taking a position on the economy based on our educated guess (economics is not science) that a republican controlled DC will get us in worse shape with their "cut spending and taxes" meme.

Nothing in our history supports the outcome that cutting spending and taxes will improve our economy; nothing.

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@hawkeye10,

hawk, You're looking at negatives without understanding the true value of immigrants to our country. Many are scientists and high tech workers who create jobs at higher wages. They hire legal immigrants from any country that meets their job requirements. Your one-sided essay is myopic.

Many of the scientists and high tech workers here in Silicon Valley are Chinese and Indians.

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@cicerone imposter,

Yes getting skill workers from around the world is a great way to keep that group wages low and reduce the need to aid the citizens to reach that level of education

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@BillRM,

BillRM wrote:

Yes getting skill workers from around the world is a great way to keep that group wages low and reduce the need to aid the citizens to reach that level of education

and let's not forget that oftentimes these same foriegners end up going home after a few years, and they tend to parley their us university education and on the job training in silicon valley into companies which compete with the American companies...often successfully. This practice is not good for America nor for Americans.

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@hawkeye10,

From answersgoogle.com.

Quote:

The Indians of Silicon Valley
The hidden geniuses of the tech revolution are Indian engineers
by Melanie Warner, May 2000 Issue
http://www.business2.com/articles/mag/0,1640,7764,FF.html

According to Siliconindia magazine the Indian immigrants who live in
the Bay Area and work in high tech are roughly 200,000,

“Bay Area Indian immigrants represent America's most successful
immigrant group. Collectively, they've created companies that account
for $235 billion of market value.

You two don't understand much about immigrant workers in the US.

1 Reply

@cicerone imposter,

Have you clocked a thousand up yet ci. who you have asserted don't understand something or other you are an authority in?

Such assertions must represent a clinching intellectual argument in your own mind.

But not to worry--it can be treated if caught early enough.

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Well, it's been a quiet week in Washington. The politicians and lobbyists have escaped the August humidity and the bus loads of student tourists have headed home to resume school, some of them no doubt tweeting "This is soooooo boring."
Labor Day is September 5th. After a very long and bitter battle over the non-issue debt ceiling, there will be a day or so devoted to the need for bi-partisan compromise, as long as the compromise comes from the other side.

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Gold breaks $1880.

That is all.

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@hawkeye10,

In the near future you will see .... Gold drops to $350

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@tenderfoot,

tenderfoot wrote:

In the near future you will see .... Gold drops to $350

The hope is that sometime soon the tires will start to bite, but right now we are sliding on mud sideways towards the cliff. We have been off the road for over three years now, so we are a bit too far in to warrant your optimism.

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@hawkeye10,

The Nikkei dumps another 1% today, as values collapse during the last 2 hours of trading. European futures have markets opening about 1% lower.

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Gold breaks $1890.

That is all.

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@hawkeye10,

I don't agree with tenderfoot on the base price of gold any time soon; many are still buying gold at these prices, because it's out of fear. Fear induces people to do things that are irrational.

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Obama is currently looking for a plan to counteract the negative effects of Obamanomics.

The plan was not found on the front nine, maybe he will find it on the back nine.

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@cicerone imposter,

Quote:

Fear induces people to do things that are irrational.

Buying gold at these prices is not irrational if the rational determination has been made that the current global economic system is highly unstable and is likely to collapse. In that case reaching out for the asset that will retain value the best is the smart rational move. Increasingly the bet is that the only way the West has out of this mess is to inflate out, and if that happens you dont want to be holding currency or any debt instrument tied to currency, so even before we get to collapse gold makes sense.

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GOLD HITS $1900!

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Where is the US economy headed?

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