Its true- haven't people figured out that socialism doesn't work very well? You'd expect more from posters on a board revolving around capitalism and free markets. Hey lets hand out 5 grand every time someone has a kid, that'll solve the debt problems! Hillary for president 08
strong currency, gold standard return, death of central banks. yes, but you think we have a liquidity/credit crisis now? watch what happens when the money supply gets pulled in. The stock market won't look cheap until 700.
You'r death wrong!, this a very false statement! You should travel more, an american "poor" is a midle class citizen in eastern europe, spain, italy, portugal and a rich citizen in south america. You dont have any idea what "poor" means by the US standart. Yes you go to harlem and see a lot of poor kids, but full of meal in they Refrigerators, two cars, Wi, Nitendo, Satellite Dish, Internet, etc etc etc. You Go to carol City in Miami and you can see those "poor" people even with old boats in their garage. IF you make 21k In the US you are Poor, In italy you are almost "middle" class. BTW, un the 1950's and 1960's 30% of the US population was under the "poor" level, Today, si about 11.5% how in hell you can say this? our "consumer" economy has grow like 300% in the past 27 years and we are "poor"??? Debt? yes, we have a HUGE debt.. just like everybody else. Maybe less.,, AND if you take a Look at our past, you will find out that our DEBT today, is shit!!!!! By historical standart!... When you trade on margin, you go on DEBT right way. "you are poor" then?.. YOU CAN'T become RICH if You dont GO ON DEBT!!!, IF YOU have a BIG turnaround business YOU NEED DEBT!.. JUST ask MARC RICH! or JOHN ARNOLD!!! or the US in the past 231 years!.. Only under socialism a DEBT is BAD DEBT!, cause is a non "revenue debt".. on war, you Build Business, ON welfare You Build non revenue debt!.. and you need money for that... rich people can trasnfer their deal's to Curacao and Andorra.. at the END the middle class will have to pay for those "free" welfare programs.
Where did this number come from? If that's a true stat, then we need to re-define what the "poverty" level is.
That will never, NEVER happen! The US financial system is a house of cards based upon ever expanding credit and money pump. America will burn to an ash [financially]* in a firestorm of inflation and currency debasement before the money supply gets "pulled in". Should take about 30 years.. .maybe 50.
'Obviously something is wrong if USA imports more and more year over year' Do you know what percent of these imports are from China but goods that are made by American companies using Chinese labor? So bottomline profits are still coming to US balance sheets and that is why stock markets have not crashed despite of huge 'unfriendly' economic numbers.
I know exactly how the Chinese economy works with its razor thin profit margin factories. What you do not understand is that these "American" companies, owe no allegiance to any nation. They are global corporations. The profits go into the pockets of CEOs & execs, and shareholders, most of which are the ultra rich. As for the market not crashing, I don't expect it to. All you have to do is adjust it for the rapidly deteriorating dollar and you will see a sad picture. Do you wanna throw anything else out to show that this nation is well on its way to becoming Third World?
It's an old stat from a couple years ago so I'm pretty sure it's higher by now. The poverty level is defined by the government, it's a reasonable methodology actually. If you really have problems accepting this, I suggest you get out of rich suburbia sometime. There are plenty of large cities that have been deteriorating over the last few decades, let alone small cities & towns which instantly go down the tube when manufacturing bases move offshore. Also trailor parks & redneck communities which populate most of Middle America. You gotta understand that in dying cities, most of the population is on welfare. That is poverty.
http://news.yahoo.com/s/ap/20080110/ap_on_go_ca_st_pe/fbi_unpaid_phone_bills Govt cant or wont pay bills?