The US will eventually become a second rate country.

Discussion in 'Economics' started by KINGOFSHORTS, Nov 17, 2008.

  1. This country has become a paper pushing country. Look at the 50K layoff at citibank, the implosion of LEH,BS and all the job losses there. GS, will be imploding eventually.

    This country has become an empty shell of its former self. We produce nothing tangible, we flip debt instruments around for more foreign goods.

    70% of our GDP is based on Americans taking on debt on the credit card to buy chinese goods.

    We spend more money blowing shit up to then spend more money to rebuild their infrastructure (ie: iraq)

    We got out of the great depression in the 1930s thanks to our industrial capacity. We have no industrial capacity and flipping debt instruments around and all the associate jobs will not get us back to where we were.
  2. part, but not all of the problem is, that after WWII, the USA and the world got it into it's collective head that the USA must be everything to everyone, with the citizen's long term best interest last

    and long term just arrived

    i saw on McLaughlin group a few months ago, Pat Buchanan saying that the USA carrys the EU defense burdon, and an English lady from the Financial Times just chortled and say 'we'd rather spend it on health care and persions ha ha h a"

    it's very scary, but a case can be made that this could be worse than the 1930s (although i'm not saying it will be, i dont really know - nobody does)

    we're way more tapped out now, then we were then - i feel this all really began in 2000, and greenspan blew the nation's whole wad in his attempt to get us out of that - a case could even be made that it goes back to fall of 1998, when greenspan 'double jammed' interest rates down in the fall, cementing the 'greenspan put' in the minds of investors

    arguably, for 10 year greenspan and bernanke have been propping up a failed model of globalism and 'growth' model, spending every last bit of credit and reserve we have. we could have made the conversion to a 'sustainable/stability' model, but we spent (what may be) our last chance propping up a doomed economic model

    and we're far less united - then, we were a homogeneous nation with mostly common interests

    now, we're a 'diverse' nation of 'special' interests

    (kindgofshorts is a very dangerous name to have - a bias, no matter how welll founded, is deadly)
  3. The first thing this country needs to do is pull its military out from the rest of the world, and bring them back here. I bet are expenditures protecting countries who could afford to pay us for the service is quite high.
  4. That's what happens when leadership takes an economy from a manufacturing one ot a service one.

    That's what happens when leadership takes an economy from #1 creditor to #1 debtor.

    That's what happens when leadership exports living-wage jobs in American factories and offers to retrain those workes for the service sector. Nothing value-added in a service economy.

    Agreed. We need to rebuilt this nation's infrastructure by re-industrializing the nation with our own people, our own factories, our own consumers, our own supporting industries.

    Hussein doesn't know how to revitalize anything but welfare. Expect the status quo from him, along with the further decline of the dollar and an increased role of the Federal Reserve in government spending (because they are privately owned and a large source of international capital).
  5. "Hussein doesn't know how to revitalize anything but welfare. "

    he doent know anything except promoting himself

    his life is one long infomercial

    still, it would take great effort to be worse than Bush

    clinton set up the pins, bush bowled the strike
  6. Agreed that Bush laid an egg, but Clinton laid a few dozen, plus X number of interns, handed Bush the recession and did many times more damage than Bush to our national security and economic infrastructure. Now, to deal with Bush's depression...
  7. that's what i was saying

    NAFTA/WTO/MFN-China/H-1b visa/illegal immigration

    dropped balls in 1998 with iraq (give up on inspections) and failed bin ladin handling

    false budget surpluses

    all on clinton's watch

    then, Bush took a bad situation, and made it much worse

    1998 was a crossroads year for the USA

    the Titanic lifted up, before it went down
  8. We started heading in the wrong direction when we entered the Vietnam War in 65. Ever since then we had problems. You had the 1968 crash, the 1970s nixon shocks, then the final nail in the coffin was the work Reagan/Clinton/Bush did.

    If Perot would have won things might have been different.
  9. clacy


    If we become a 2nd rate country/economy, then who will the rest of the world blame for all their problems???:confused:
  10. W4rl0ck



    This is what Ron Paul was advocating. Too bad Amerika couldn't think beyond what the boob tube told them.

    #10     Nov 17, 2008