this is all typical of actions by 3rd world central banks http://www.reuters.com/article/pressReleasesMolt/idUSN0537700520080605
if you americans would take a look beyond your own poor country once in a while you would have long recognized that you actually live in a b.rep. already. you should "pray" to your "god" or whatever that obama will be your next pres. and that he in fact will bring you "change" - it almost doesn't matter how this "change" will look like. or would you prefer to have "4 more years"? wake up... rofl!!!
very little if any social security for more and more people. a growing number of people having to work in two or more jobs and still struggle to make a living. a disappearing middle class. spending ridiculous amounts of money for starting a useless war that brings tons of profits to the elite and companies you mentioned. etc. etc.
it is tiresome to hear that the war in iraq is responsible for US economic ills. the reality is that the US is becoming more socialist while europe is either maintainting the staus quo or trying to become more capitalistic. The US is burdened with 50 states who think that they are sovereign nations who can burden their residents with taxes to pay off the state's civilian servants with inflated pension promises. then afterwards they expect the federal gov't . tp pay off their obligations. then there are the managers in the private sector who only care aboutmore their obs and negotiate everything away to the unions. the stockholders be damned. a rotten system of education with overpaid teachers does not help either, the war in iraq is a very small part of US GDP
Let's not forget an absolutely corrupt government who believe in nothing except pandering for votes. It's amazing that public officials can walk away from mortgages, file for bankruptcy and not pay their taxes and keep their jobs. The salary for our esteemed officials rival professional athletes while they vote themselves giant pensions and then run the country into the ground, tax us to death and treat us like we are idiots, which unfortunately we are because we keep voting for them. Digusting.
Another typical characteristic of a banana republic is a chronic trade deficit. A BR will suffer from poor terms of trade, importing high value-added industrial products and exporting agricultural goods and natural resources. The chronic deficits and invariable inflation destroy the currency, leading the government to ration imports. El Presidente's family miraculously controls the most valuable import licenses. We can expect this Act II in the "Becoming A BR" series to commence under President BHO. After all, we have to control profiteering in necessities. At the same time, huge subsidies become imbedded in the economy, further weakening it. Attempts to curtail them lead invariably to urban riots.
Normally I would just assume that you meant underpaid, but for some reason I thought I'd ask. If anyone thinks that the plummeting academic quality of high school graduates in the U.S. isn't a huge burden going forward, they haven't been to India/Japan/China lately. One need look no further than the quality of writing here at ET for incontrovertible evidence that U.S. high school graduates are unprepared to compete in a wide variety of fields in which higher literacy is required. There are plenty of people here who graduated high school but cannot deal with the English language.