The economic impact of the current Exodus from the United States.

Thank you for your "spot on" response....as usual.....

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Is it not ironic that both Chavez and Bush are nationalizing banks in their respective countries at the same time?

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Debt cuts both ways, and one would think that a country with supposed some of the best business schools in the world could deliver students with more common sense than to let greed take hold to the degree that excessive leverage became so commonplace.
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What Buffet mentions previously in regards to derivatives is their surfacial appearance of one being able to spread the risk of excessive leverage, whereby at the end of the day, excessive leverage is excessive leverage.
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This means that the so called derivative strategy is fatally flawed, and unfortunately represents many $Trillions in risk still present in the system. Again, Buffett got it right again in regards to his comments about their being weapons of financial mass destruction, whereby at the end of the day, is quickly becoming reality.
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You know the old saying in economics, "at some price it works", and inevitably each economy finds out just what these prices are.
I would suspect that what the US Government will continue to do is to try to make the change to different price levels as smooth a ride as possible, which inevitably means socializing the losses on a grand scale. It seems to me that the US is rapidly becoming socialist by default, in that all the answers point toward US debt or the printing of money.
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Since there always seem to be countries in the world, some currently in their heyday, some inbetween, and some at their bottoms......the message is becoming clearer about the US economic picture.
 
Quote from libertad:

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Debt cuts both ways, and one would think that a country with supposed some of the best business schools in the world could deliver students with more common sense than to let greed take hold to the degree that excessive leverage became so commonplace.
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libertad,

I am somewhat surprised to read from a man of your calibre the apparent confusion between greed and common sense.

Both are as much a sign of the times as they are a reflection of the individual and sadly, very sadly we live in greedy times.
There are times when they merge and times when they do not.
In times when they do not, the responsibility falls entirely upon the individual while society fades into the background.

regards
 
How very true, and excellent observation I might add.

If one puts a tool in front of someone, they will most likely use it, although common sense says no.

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The question becomes , can the US legislate its way out of the quagmire into a more useful set of tools, since hard economics are the only other alternative.

At the stroke of a pen, value can sometimes be created or lost, whereby the military or jail says so.
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Thus if one only has one tool, and no other to work on the solution, and nothing else to do with their time, then that is what they are going to use.
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And after all who is deemed more intelligent....

A person is left adrift on a barren plot of ground with nothing.....when one comes back, one views a successful enterprise.

Another person who went to the best schools, and acquired a job which had the best tools....was able to assemble products successfully per the instructions made available.

Which one is more intelligent/real ?
 
Quote from libertad:


The question becomes , can the US legislate its way out of the quagmire into a more useful set of tools, since hard economics are the only other alternative.
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US will probably continue to morph into a technical society since the opportunity to expand as a social society has been squandered by sheer greed.

jjf
 
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November 3, 2008

SouthAmerica: Regarding the new wave of immigrants that will be coming to the US.

The current economic global crisis reminds me of a quote by Alexander Graham Bell: ‘When one door closes another door opens.’

The European and the United States economies are descending into a deep recession in 2009 and beyond, and European countries are going to close the door even further on immigration from African countries.

In the United States we have an exodus of immigrants that has been going on for a few years when millions of immigrants started going back to Brazil and other countries in Latin America.

Even though the US economy is contracting and unemployment is going up very fast and should reach 9 or even 10 percent unemployment rate in the near future – this very discouraging scenario can look good from others’ people perspective mainly when compared with the situation that these people must be leaving behind on these African countries.

Now going back to the quote ‘When one door closes another door opens’ – as European countries close the door to immigration from African countries a new door opens in the United States for the over 600 million Sub-Sahara people. Millions of people who are running away from the civil wars in Sudan, Congo, Somalia, and many other unhospitable places now they are going to have a new friend and sanctuary in the United States.

The new administration will welcome a new wave of immigration to the US and this time around the immigrants will come from these African countries.

If anything it will be interesting to see American society absorb these new comers into the American mix.

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South America said""The new administration will welcome a new wave of immigration to the US and this time around the immigrants will come from these African countries.""

Oh shit. So CA thru TX become the next Somalia.
What fun.
 
Quote from southamerica:

"... The new administration will welcome a new wave of immigration to the US and this time around the immigrants will come from these African countries.

If anything it will be interesting to see American society absorb these new comers into the American mix.

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Why would America "welcome a new wave of immigration'? Would they be bringing industry and jobs for American workers? Or would they just be more unemployed refugees seeking social support?
 
Quote from gnome:

Why would America "welcome a new wave of immigration'? Would they be bringing industry and jobs for American workers? Or would they just be more unemployed refugees seeking social support?
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Exactly, gnome. More of the same BS we got with Bush. Open borders to come here and crowd the already thin job pool. Of course, blacks are always racial victims, so blacks of any origin will gain preferential treatment, qualified or not. Nothing new, my friend...
 
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November 3, 2008

SouthAmerica: This will be the new mindset in Washington - and the American people will give the green light tomorrow with their vote - and their approval to this new era.

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Quote from southamerica:

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November 3, 2008

SouthAmerica: This will be the new mindset in Washington - and the American people will give the green light tomorrow with their vote - and their approval to this new era.

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What? We'll be giving support to the idea that all refugees are welcome here to live at the expense of the American tax payer?

Where's the logic in that?
 
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