Economy In Crisis

[hans37]

Quote from ktmexc20:

Would someone please explain to me how all of this is supposed to be good for our country.

While I'm at it, I urge all my friends here on ET to become more informed on these and all the other critical issues facing our nation. One, For instance, would be to watch more CSPAN and other independent journalistic avenues. All avenues though, require sorting through the rhetoric to get at the facts.

The following posts are 3 lists of sobering facts: This source is EconomyInCrisis.org

Btw, the sources are a bit outdated... The situation is obviously worse.

My advice is lay off the crack pipe and common dweebs.org (http://www.commondreams.org/views06/0227-20.htm)

A little from the "about us" section on economyincrisis website.
-------------------------------------------------------------------------------
Mission :

To help legislators and the American public become aware of ... Present unique articles and facts revealing how the US economy is being drained by foreign competitors and how our standard of living is being diminished. ..

Our people should not obtain most of their needed goods by selling title to our wealth-producing assets.


We Believe:

“Free Trade” systematically destroys our ability to produce products competitively

Stronger regulations should be put in place restricting foreign purchasing of US companies

Economic policy should be derived from facts and results not merely theories and blind faith

As citizens and consumers we have the power to effect change

We need grassroots support of our citizens regardless of political, social, or religious affiliations

We need true political, corporate, and industry leadership and patriotism to preserve and foster the strength of this country, its citizens, and it industries
----------------------------------------------------------------------------------

Does anyone else read , implementation of failed planned economies and restriction of consumer choice to " what we think is good for you"?

 

[dddooo]

Quote from rhymeswithorang:

And yet as a country, we are enjoying low inflation, longer and stabler economic expansions. We get richer and richer as a nation. Where is the problem?

We're selling our industries to sustain our spending habits, we're deep in debt as a country and individually, the savings rate is below zero, more an more people are uninsured, more and more households live below poverty level, real wages are flat at best, the median income is not growing and is probably falling. An average american is worse off today than he was 5 years ago.

PS I hope you don't buy that low inflation crap - food, healthcare, gas, education, houses have virtually doubled in price in the last few years.

 

[rhymeswithorang]

Good points. Yes, I do buy the low, stable inflation story, so do financial markets.

PS I hope you don't buy that low inflation crap - food, healthcare, gas, education, houses have virtually doubled in price in the last few years.

 

[rhymeswithorang]

All I am saying is that the long-term trend for America is up, there are always Cassandras running around saying the world is about to end. Think of it like short-sellers. They are right once in awhile but its a tough business given a 10% upward drift in the market.

 

[ktmexc20]

Quote from rhymeswithorang:
And yet as a country, we are enjoying low inflation, longer and stabler economic expansions. We get richer and richer as a nation. Where is the problem?

I think that the fassod (sic: spelling?) of economic prosperity today, is at the cost of debt and disruption tomorrow.

These current policies are great for stimulating an economy, but the long term effect, if current policies are sustained, will be detrimental.

 

[ktmexc20]

Quote from hans37:
My advice is lay off the crack pipe and...

Well Hans, that's certainly a respectable response for intelligent debate.

 

[rhymeswithorang]

I've got to plead ignorance, after 10 minutes of googling, can't figure out what a fassod is

 

[hans37]

Quote from hans37:
My advice is lay off the crack pipe and...
--------------------------------------------------------------------------------


Well Hans, that's certainly a respectable response for intelligent debate.

Quote from ktmexc20:

Well Hans, that's certainly a respectable response for intelligent debate.

Funny how you skipped the other 95% of my reply but:
are you claiming this disposition of yours is a result of being "SOBER"?

 

[ktmexc20]

Quote from rhymeswithorang:

I've got to plead ignorance, after 10 minutes of googling, can't figure out what a fassod is

Fassod(sic): A visible front or surface... As in: The fassod of a building is what you see when your standing at the curb... so to speak.

btw, does anyone know the correct spelling?

 

[CoolTrader]

I don't think foreign ownership of US business is a problem. If 30% of a company's profit comes from outside US, then 30% foreign owership is normal. What can really cause crisis is the national debt. What would the government do when the borrowing limit is reached?