Hoho - another Blame America First Liberal! "The blame goes to those who sold out American workers for that cheaper suit made in Brazil. " Chicken first or egg? Maybe his declining real wages make him look for cheaper suits to wear to work. "Or for that sporty car Detroit just couldn't build to our yuppie scum specifications. " You mean like the GM EV1 electric car that was available years ago but was shredded in favor of going back to "concept cars" you can't buy? That was American innovation at work. Who would be ahead in those cars now if it wasn't scrapped back then? "They said Asia builds my dreams cheaper." And companies get tax breaks for moving overseas too. Thank you sniveling, grubbing, whiny politicians. "America is filled with bitching, whining, duplicitous losers." Then leave. Like Halliburton.
Liberal? LMFAO. I'm the most ultra right wing person on this board. And don't misconstrue what I'm saying. In most ways Europe is just as f'ed as us. The tell will be when gold rallies some day on dollar strength. As far as the rest of your post. Further bs.
We need a real economy, not one based on consumption and housing.. It's what we USED to have, when the economy of this country was actually GREAT. Letting these shitty companies collapse is the BEST thing we can do..Purge the economy of its excesses. Punish the fool hardy. Sure, it'll hurt. But it has to be done... The thing with housing is that there is absolutely nothing the Fed can do. Home prices HAVE to fall... If not, and if the Fed can keep gauzing up a gushing jugular, then the USD Dollar will get absolutely shredded. In that scenario, people can keep their 800K townhomes, but they will be paying 10$ / gallon for gas, and 5$ for a loaf of bread... Wait till interest rates are in the double digits...the big question is will that number have a 1 or a 3 in front?
This is a clever statement? It is not a tax. It is the way the world operates. Inflation has been going up for centuries. Inflation exists in all 230 countries. If Ron Paul was President, inflation would still go up. In the 1950s, the average person made a buck or two an hour. But things were also cheap. In this decade, the average American makes $20-$30 an hour. And things are more expensive. Wages keep pace. But by all counts, people now are wealthier, with bigger houses, more possessions and more opportunities than people of the 1950s. People then owned a car, no computers, few electronics, rarely traveled far, etc. And a hundred years ago, there were few homeowners and mostly renters. If inflation were at 0%, wage increases would almost completely stop. Again, inflation is not a tax. It goes up, and so do average wages. This Ron Paul lovefest over a stupid statement is sickening. Learn a little economics and grow up, folks!
USA will probably merge with Canada & Mexico, just like Europe in time will merge & Asia & perhaps sometime in the future there will be just one state. Markets have always worked on positive expectations & always will. We create & destruct, there is no God.
The main reason we have disbalances is because we don't like stability, humans are not machines, we get bored with repetitive processes, so we create new modules, which sometimes work & sometimes don't. Credit Crunch is nothing more but another module which hasn't worked in light of very low interest rates.
I think you are leaving out the time value of money. That was what Paul was also saying. If I print more money and get to use it first, it buys me what a dollar buys TODAY. By the time all that extra money ripples out through down to the rest of YOU, it is inflationary. So there is almost a class-creation of who gets to use it first. If you think your wages are going to rise at the same rate that money can be printed, that would be unusual. And in times when unemployment is rising, maybe it's not even possible to get your wages to even match.
I lost faith in CNBC a long time ago. When the news broke that one of NBC's nighttime "news" programs faked an explosion of a GM truck, GM was giving an emotional news conference about what NBC did. Well wouldn't you know it, I was watching CNBC at the time and they conveniently cut off the news conference the second they figured out what GM was saying and never went back to it. I had to turn to Court TV to watch. You can claim the Ron Paul cutoff was coincidentally, but what I saw was blatantly obvious.
This also has no meaning. People make a certain amount of money and things cost a certain amount of money. Wages and costs both go up. The average family in 2006 made almost 3 times the income as people in 2006 (in 2006 dollars). Inflation and time value of money is already factored in. Basically, people have gotten wealthier on average every year. Some, but not all families are 2-income, but regardless, the average American is much better off now than a long time ago. And do we want to go back to the 1800s? When most Americans were relatively destitute? No stocks or investments or retirement. Few possessions. Basically working hard and dying young? ___________________________________________________________________ ALL FAMILIES - MEAN FAMILY INCOME YEAR, $$$WAGE, IN 2006 $$$ 1947 3,546 27,414 1948 3,671 26,256 1949 3,569 25,838 1950 3,815 27,286 1951 4,194 27,782 1952 4,457 28,941 1953 4,706 30,358 1954 4,684 29,955 1955 4,962 31,871 1956 5,341 33,792 1957 5,443 33,368 1958 5,565 33,155 1959 5,976 35,390 1960 6,227 36,224 1961 6,471 37,277 1962 6,670 38,054 1963 6,998 39,394 1964 7,336 40,754 1965 7,704 42,088 1966 8,395 44,628 1967 8,801 45,400 1968 9,670 47,961 1969 10,577 50,270 1970 11,106 50,360 1971 11,583 50,289 1972 12,625 53,176 1973 13,622 53,996 1974 14,711 53,056 1975 15,546 51,779 1976 16,870 53,141 1977 18,264 54,080 1978 20,091 56,982 1979 22,316 57,760 1980 23,974 55,851 1981 25,838 54,961 1982 27,391 54,949 1983 28,638 55,099 1984 31,052 57,394 1985 32,944 58,870 1986 34,924 61,298 1987 36,884 62,622 1988 38,608 63,229 1989 41,506 65,164 1990 42,652 63,784 1991 43,237 62,421 1992 44,221 62,263 1993 47,221 64,882 1994 49,340 66,377 1995 51,353 67,461 1996 53,676 68,684 1997 56,902 71,272 1998 59,589 73,610 1999 62,567 75,709 2000 65,773 77,008 2001 66,863 76,147 2002 66,970 75,056 2003 68,563 75,163 2004 70,389 75,134 2005 73,304 75,707 2006 $77,315 $77,315 from: InflationData.com