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What happened to the jobs that used to make clothes for millions of Americans? Poof!! Just like Ross Perot said. I can go on and on. But I have to call my bank to talk about an issue. So I will continue later on my post.
Ok I am back. Could not resolve the issue becase I was talking to someone in India and could not understand what the hell she was talking about.
[quote][/quote]
[quote]"And we need to crack down on those who have abused our credit market and caused this housing decline. We need to take action to support American businesses so that we can stop jobs from going overseas and create more jobs here at home. America has the second highest business [tax]rate in the entire world. It's any wonder that jobs are moving overseas. We're taxing them out of the country."
John McCain
August 6, 2008[/quote]
Meanwhile we're wealthier than other and unemployment has recently been at rock bottom.
Where are you going to find the people to take all of these jobs when we get them back?
Meanwhile we're wealthier than other and unemployment has recently been at rock bottom.
Where are you going to find the people to take all of these jobs when we get them back? [/quote]
The Whistler on October 14, 2008 at 04:37 pm
It is not just about jobs. Seen our trade deficit recently?
And the significance of that metric means what?
I have a trade deficit with my local grocer. Is that a bad thing?
[quote]
And the significance of that metric means what?
[b]I have a trade deficit with my local grocer. Is that a bad thing?[/b] [/quote]
likwidshoe on October 14, 2008 at 05:41 pm
Yes it is. If you did not have an income producing job, would your grocer extend credit to you indefinetely?
We borrow to buy our foreign goods. How long before the Chinese and others demand payment?
FYI, They already have, and we could not pay. So we mortgaged future generations.
Neither the debt nor the deficit is due to trade; it's about useless and wasteful govt social spending.
Cut the social spending by about 75-80%, and the debt and deficits will fade away.
http://www.america.gov/media/pdf/books/economy-...
NOTE: All figures are in millions of U.S. dollars, and not seasonally adjusted unless otherwise specified. Month Exports Imports Balance
January 2008 5,854.9 26,167.7 -20,312.8
February 2008 5,773.9 24,128.6 -18,354.7
March 2008 6,354.1 22,432.0 -16,077.9
April 2008 5,680.6 25,919.3 -20,238.6
May 2008 6,614.3 27,663.6 -21,049.4
June 2008 6,413.7 27,843.3 -21,429.6
July 2008 6,437.3 31,314.0 -24,876.8
August 2008 6,506.7 31,840.2 -25,333.5
TOTAL 49,635.5 217,308.7 -167,673.2
'TOTAL' may not add due to rounding.
Table reflects only those months for which there was trade.
CONTACT: Data Dissemination Branch, U.S. Census Bureau, (301) 763-2311
SOURCE: U.S. Census Bureau, Foreign Trade Division, Data Dissemination Branch, Washington, D.C. 20233
Uh, no, we don't.
The government borrows to buy votes.
The people may be borrowing from Mastercard and Visa to buy that big screen TV, but they're not borrowing from the Chinese.
You're confusing the economy with the government spending.
FYI, They already have, and we could not pay. So we mortgaged future generations.
"We" did no such thing.
You can lay that one on the laps of those who give us big government, which is not me and not "we".
Again, you illustrate your ignorance.
"because it relies on continuing inflows of foreign investment to pay for it" Meaning: We have to borrow money from others.
More bullshit. Name them. Again, moron; if not for the massive wasteful govt spending, there would be no deficit or "national debt". Businesses operate at a profit, which is what keeps them viable. If you're making a profit(a word you don't understand), it exceeds your debt, by definition.
Educate yourself, instead of ignorantly parroting words you don't understand.
Well, no $hit Dick Tracy, I'll bet they aren't dealing in rubles either. The world wants US Dollars even when we're told the economy sucks.
I doubt you'd like any solutions to this problem. End welfare. Cut medicare and medicaid. Start scaling back social security. End earmarks. No more Katrina spending. No more UN spending. Cut taxes so that the top bracket is 25%.
This would immediately end the deficit and allow us to pay the debt off in 10 years.
We borrow to buy our foreign goods. How long before the Chinese and others demand payment? [/quote]
If I didn't have an income producing job, I would not have a trade deficit with my grocer. I would buy nothing from them, and they would buy nothing from me (cause I had no money). The proof of a deficit shoots your point down. We have money and are spending it on China. There is no credit being given. "Trade deficit" means that we spend more money on them than they spend on us.
You don't understand ANYTHING.
Exactly.
I got the sense that ellinas believes it means trade debt.
I got the sense that ellinas believes it means trade debt. [/quote]
Well, since she's talking about credit... And "would they keep loaning if you didn't have a job"... That's exactly what she means.
No clue how the world works.
It's illiterate lies that because they don'tspend as much money on OUR goods as we spend on theirs...the trade is unfair!
http://www.linkedin.com (networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches you to the perfect job)
Theres a perfect job out there for everyone!
It's illiterate lies that because they don'tspend as much money on OUR goods as we spend on theirs...the trade is unfair! [/quote]
Kenny on October 14, 2008 at 11:34 pm
You are out of six dollars and cannot continue to be out of six dollars indefinitely. How many times are you as a nation going to use your "six dollars"? There will come a time that because your earnings are less then your spending you will not be able to buy that "six dollar toy" anymore. Therefore if you want that "toy" you have two choices: Not buy, or borrow. Borrowing has its limits. How long before the Chinese demand that we sell them something they want with those "six" dollars? What do we have to sell them that they already don't produce? We Have America. Thats right. The good old U.S. of A. The current crisis is due to us not having any dollars left. The worthless market paper evaporated. Still we have to pay. And we are. Instead of the Chinese and Co. owning our banks, the government moved in to partialy or fully nationalize them.
Your example is crap, your thinking is crap, and you continue in your ignorance, even though you have been schooled many times in the reality here. The govt borrows money to fund its wasteful social spending, which returns nothing. It's not business spending that's at fault here; it's wasteful govt spending on useless social programs.
robert108 on October 15, 2008 at 06:06 pm
Your objection to social spending is duly noted.
However it is buisiness that are failing, unless you don't consider banks as buisiness. I suppose you consider that $700 billion social spending.
I am not denying that when a buisiness buys and ressels a "toy" that buisiness makes a profit. However dollars do not grow on trees. If I buy underwear from China and sell it in the USA surely I will profit. But that is profit for the underwear only. Do I make enough of a profit as to buy enough underwear to meet the demand? No? So I need capital to be able to buy more. Which means I have to borrow. The Chinese flush with dollars are willing to fund my buisiness.
I cannot borrow directly from them. A bank can, with backing from uncle SAM. Since we spend more than we produce we cannot go on like this forever. We do not have an unlimited supply of dollars. The investment banks along with regular banks are failing or are in danger of failing. The money tree dryed out. Notice GM and Ford did not go and borrow from the Chinese. They can, but the Chinese will want a slice of them and not a simple repayment plan. Since our banks are out of dollars we the taxpayers are asked to lend money to our banks so they can lend it back to us (a ponzi scheme). It would not serve the politicians well to admit the fucked up if they allowed foreigners to own our banks, Ford or GM. It is election time, so the dream up these shemes to cover their incompetency.
To end this I will close by saying that IMO no nation can stay sovereign for long if they are not capable producing more then they need. It is this excess capacity that makes a nation wealthy.We are importers and not exporters.
enough underwear to meet the demand?[/quote]
If you don't, you go out of business. Duh.
enough underwear to meet the demand?
[quote]
If you don't, you go out of business. Duh[/quote].
robert108 on October 15, 2008 at 10:12 pm
Not neceseraly moron. I don't have to grow. I can stay at the level I am at.
Wrong again. Making a profit sufficient to restock isn't growth. If you want to grow, you have to borrow, and if you don't grow, you go out of business. If your profit is enough to stay at a certain level, you don't have to borrow. Duh.
You are assuming all business is retail or wholesale. Business can be services as well (are they included in the stats?) How about barbers, cafes, consultants, community organizers, etc?