Actually in recent years inflation in India has been running higher than in the U.S. I think last year, according to Indian Government figures, it was a little over seven percent.
India Government 7% means real inflation of minimum 20%. By the way talking about governments and economy: is there anybody believing government numbers besides the government?
even the government doesn't believe them, but the bureaucrats have their orders to finagle the numbers. the US is headed in the direction of Argentina and hyperinflation. every government that has screwed their economy lies about inflation in order to reduce their payments which are indexed to inflation. in the US it is social security and certain government pensions. there will be a tipping point as the$US gradually loses its premier reserve status and there is a run on the dollar. the swiss may be unhappy about what the $decline is doing to their industry but they are happy as they are getting richer and can buy america and europe on the cheap. what is happening in the US is the result of creeping socialism, not by gov't takeover of co's but by strangulation by rules and regulation i.e. fabian socialism.
piezoe is backtracking because he didn't have the facts. of course, ET posters when presented with contra facts , they back away and personalize.remember, piezoe, that communists win the hearts of mind and man because they are more knowledgeable and can confuse the average man into believing their outlook on life and human nature.
http://finance.yahoo.com/blogs/breakout/abolish-minimum-wage-says-peter-schiff-172858062.html it is time to abolish minimum wage.
ok, fine with me it just means more people on food stamps better to have taxpayers pay the poor, than force employers to pay them you probably think I'm being sarcastic, but I'm serious at anyrate, it's a moot point. After Obama's combative speech, he will get nothing from the republicans and if he doesn't stop interfering, we wont even get immigration reform.
"better to have taxpayers pay the poor, than force employers to pay them" you can't force employers to hire them.
"A family with two kids that earns the minimum wage still lives below the poverty line. " -------------------------------------- Hmnnn. he doesn't say how many hours this guy works. Suppose the guy makes min wage and works 70 hrs a week, how does this add up? Hmnnn.. still a bab (broke ass bitch) after working 70 hrs a week. Work harder...the get back to Obama on this..
US dollar dominance is a function of military superpower status and as long as this perception is not challenged dollar should be OK. If the dollar falls bombs fall somewhere else by strange coincidence. If you look at British pound it finally lost its status decades later after loosing colonies and in reality WWII. Similarly such process for US dollar might last longer than anticipated.