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Post by avordvet on Jul 25, 2012 4:03:38 GMT -5
The Coming Economic CollapseJuly 24, 2012 Peter Morici News & Analysis The U.S. economy is teetering on the brink of another recession. The bad news is that if it goes down again, there won't be much we can do to save ourselves. Like a weary heavyweight, if the economy hits the mat again, it's down for good.www.commoditiesforexnews.com/2012/news-analysis/the-coming-economic-collapse/
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Post by safetalker on Jul 25, 2012 7:53:31 GMT -5
So! He has done the jobt he was paid to do. He deserves a bit of R&R. Besides this is when he is the safest.
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Post by busboy on Jul 25, 2012 14:19:17 GMT -5
Here is the irony of the article posted.
He assumes that government spending can't be cut, and assumes that new wealth can not be found/generated.
He speaks of the deficit going from 161B, to 1.3T, but offers no information as to why this is. The fact that federal spending has ballooned is the cause. Cutting that spending will not hurt the economy, like most think, it will help.
Cutting the spending, the regulations, and freeing up the American enterprise system to rev up, that is how the country can both generate jobs and even government revenue.
The reason that low interest rates are not working (as he points out) is because people and businesses have no reason to borrow. They are either too scared or hampered to do so. Any extra money they may generate will go toward savings and paying down current debts. Thus, no stimulus in the economy.
Every dollar the government puts toward "stimulus", takes 2 or more dollars out of the real economy. So stopping the stimulus madness is real stimulus....even more so if they simply cut government functions and programs. Every dollar the government cuts out of its budget, adds 2 or more to the real economy of this country.
China was the EUs largest trade partner, until just this last month, not is is the US. China is tanking, mostly because their largest customers are no longer buying.
However, China is about to be left holding the bag on the EU and US debts. They hold IOUs and in exchange they gave us funding. We are about to default on those IOUs, either outright default, or perhaps through "inflation", but the result is the same. China does not get paid back.
They have been using these surpluses to artificially stimulate their economy, and that gravy train is coming to an end.
However, look at what is going on in North Dakota. They are booming. Why? Wealth creation. Wealth is not a zero sum game. They are creating value and wealth, and that is creating jobs, tax revenues and prosperity. There are other pockets of such examples to illustrate this as well.
The key is less regulations which restrict free enterprise, and freeing up the people and businesses of America to do what they do best... commerce.
Tough times ahead? Yep. But they need not be prolonged. The last depression lasted longer than it would have, due to government intervention.
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Post by midnightrider on Jul 25, 2012 15:06:27 GMT -5
N Dakota is booming. A Hamburger will cost you $8.00.
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Post by brocktownsend on Jul 25, 2012 15:44:50 GMT -5
N Dakota is booming. A Hamburger will cost you $8.00. $15 per hour for clerks in convenience stores. Too cold though.
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Post by Cujo on Jul 25, 2012 18:20:49 GMT -5
N Dakota is booming. A Hamburger will cost you $8.00. $15 per hour for clerks in convenience stores. Too cold though. Come on Brock, to cold? N.C doesn't get cold! ;D. lol Just finished the book One Second After, I say that cause the story took place in NC & they were talking how cold winter was.
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Post by brocktownsend on Jul 25, 2012 18:29:31 GMT -5
$15 per hour for clerks in convenience stores. Too cold though. Come on Brock, to cold? N.C doesn't get cold! ;D. lol Just finished the book One Second After, I say that cause the story took place in NC & they were talking how cold winter was. Not back at all on the coast. Cape Carteret is much warmer in the winter and much cooler in the summer than Tarboro. In the summer I go to the beach about 5 to walk, as there is always a nice breeze. It was supposedly 95 here when I left and 5 minutes later I was walking briskly on the beach and comfortable. Even In Vietnam by 1 or 2 at the latest, a breeze picks up on the beach and if you are under an umbrella it is bearable.
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