Indian grew 8.8% this quarter. Russia grew 4.0% this quarter German unemployment rate is 7.6% As the rest of the show world shows true signs of rebounding from the crises of 07....The US is heading in the opposite direction. So why is this? THE IDIOTS IN THE WHITEHOUSE AND IN CONGRESS! THE FEDS and their ass nine ideas and the move towards SOCIALISM. AUSTRIAN SCHOOL OF ECONOMICS... read it OBAMA!
Because that's what Obama WANTS! And unfortunately, his Democrat lackeys are helping him destroy the US. Obama doesn't want free enterprise, successful business, personal accomplishment and responsibility... he is anti private sector jobs.. he wants "as many people as possible to be as financially dependent as possible on the government for sustaining their way of living."
Yeah, the rest of the world is doing great. That must be why the IMF just removed the borrowing limits on bailout loans.
How is the US supposed to be in "good" shape if... $300 BILLION a YEAR of US peoples' money is going to China? Yes, it may benefit in the short term to buy stuff 'cheaper', but look at the long term result... US $ is going into the toilet because people just have to pay for all the 'cheap' imported stuff. Decent jobs all are disappearing since, well products are no longer made here. The 'fantasy land' ATM machine of the last decade aka (HELOC) is no longer possible. US workers are used to getting a 'living' wage and CANNOT yet accept that they will have to work more for less in shittier conditions down the road because they've essentially sold/borrowed the future! The other countries (besides Europe) are not so stupid. Since they generally can't borrow much, it has limited them in piling up $trillions of dollars in trade deficits for which they could not pay. Only the US administration idiots think this is something that can continue & the country can somehow get out of. Sadly, I don't see an end any time soon. STOP buying imported (especially Asian) stuff. It's destroying your country. China is not a fair trading partner. US's loss is China's gain. Unfortunately, Obama can't go on TV and say the same otherwise it would be a trade war but that's what needs to happen ASAP. Balanced trade with the rest of the world is the ONLY way to 'fix' the American economy.
Big bailouts are a weight the economy can't lift very well right now. So is the Socialism thingy... I'd guess that Obama and all the Black voters like socialism because they can't succeed in the private sector... Jessie Jackemup and the like sue the private sector employers to death on "suspicion of racism" so nobody will hire, maybe not even do business with Blacks...
I agree. Socialism, entitlements , bailouts, all that shit needs to go! It's rotting the social fabric of the country. But the country probably has to rot more before many people wake up & realize how badly they fucked things up. Revolution? I don't know. Bernanke is betting that inflation will make it less painful for all concerned.
The US economy is fueled by debit and consumption, not savings and manufacturing. And the down fall of every democracy will be the inevitable ascension of a gov that promises more than it can afford and spiraling debt. pneuma
I just got back from philippines last month and they grew at 7.9% this quarter. But when i was there 3 years ago, things were alot cheaper there. Everywhere I went to eat, food cost on average about 50% more than what I paid in 2007. The same hotel was also about 50% more than I paid in 2007.(coincidently my hotel was next to the central bank of philippines ) There were ALOT more people living on the streets, but what I also noticed was there were ALOT more brand new cars on the road. Then I read the local paper and realized why there were so many new cars. Easy credit. There were so many advertisements for car loans and condo loans that it seemed I couldnt turn the page of the paper without seeing an advertisement. I'm guessing its the same in these other "growth" countries. Alot of easy credit pushing up the GDP of those countries, but I promise you...the gap between the rich and the poor in philippines was significantly noticeable over the last 3 years.
because america is very very very fiscally irresponsible though i agree this has been long overdue. i believe it has a lot to do with the generational dynamics of the american populus