Central banks shift reserves away from US

[Thrawn]

Originally posted by patrone
Sure USA will loose and its people would have to start working for real, again.

Americans are the second hardest working people in the world after the Australians.  The problem is that the work is overvalued in a global market, and less and less are in the manufacturing sector and more and more in the service, supply and government sectors.

[FUNKED1]

Thrawn US manufacturing output has not declined.  Don't confuse manufacturing employment with manufacturing capacity or output.

[GRUNHERZ]

Am I the only one who is shocked that Thrawn actually beat rpm  to post this doom and gloom for the USA message first?

[Rolex]

It is not a "doom and gloom for the USA message." It is a message of fiscal concern for the future economic growth potential for the U.S. Why do you hate America so much that you want to dismiss it? Do you want America to be poorer through a weak dollar and higher debt service?

[GRUNHERZ]

Of course, I welcome anything that would cripple the evil USA while empowering wise, benevolant societies like Europe or China.

[Bodhi]

Originally posted by Rolex
It is not a "doom and gloom for the USA message." It is a message of fiscal concern for the future economic growth potential for the U.S. Why do you hate America so much that you want to dismiss it? Do you want America to be poorer through a weak dollar and higher debt service?

I am concerned enough over the falling dollar (and hint of it) that about 4 yrs ago I reallocated most of my 401k and all my adjustable IRA's and equitable futures to "other" investments.  Tell ya what though, it is not the current admin that is too fault.  I blame the Clinton years for the problems we face now, that and democrat nonsense are destroying the American dollar.

[GRUNHERZ]

Both big parties are at fault for ignoring this problem.  It's much easier to rile their respective bases with emotinal issues like racism,  religion, abortion, the importance of gays or the old favorite of Bush being Hitler, than it is to bring up serious adult issues like the soaring current account defecits and related consequences.

[Rolex]

I'm a fiscal conservative and political conservative, but the gap between me and others who claim to be politically conservative comes in our differences about money. Naturally, I believe my view to be the more responsible one (don't we all...) based on the premise that 'new' conservatives have abandoned the principles of good economics.

'Tax and Spend' administrations of the past took the easy way out and I always disagreed with it, but today we have something worse - "No-tax, but still spend."

I'm quite comfortable now in the view that our previous beliefs about debt were wrong. Macro-economic resiliency (and yes, size does matter) do indeed allow mature economies to function and grow under heavier det burdens than we believed even 6-7 years ago. There is no 'historical constant' like a gravitational constant that needs to be added to formulae to make them work. The history is not the present in economics.

The tax cuts under President Reagan and Margaret Thatcher were the right thing to do at the right time. Tax cuts in the last administration were not the right thing to do - unless accompanied by spending cuts.

You know, if you take a look back to the 90's (and ignore the personalities of the players), the economy wasn't too bad overall.

I don't agree that the Clinton adminstration is to blame for the current condition. The deficits are not cyclical issues, they are technical issues. The largest budget surplus in history was on the books in 2001 and look where we were 2 years later (even pre 9/11). The biggest turnaround in the history of the world. Too bad it was negative.

Congress has abandoned all rational fiscal thought and I think it is the president's fiduciary responsibility to counter Congress. The buck didn't stop at his desk as it should have under good conservative fiscal leadership. President Bush has yet to veto or even voice any opinion about one spending bill - not one.

Very strange. Almost as if he doesn't want to get involved and has acquiesced all fiscal thought to congress - which is like giving a bankrobber the combination to the safe.

Aw well, nothing we can do about it. We just have to take it and I think we're going to start taking up the you-know-what pretty soon.

[Thrawn]

Originally posted by FUNKED1
Thrawn US manufacturing output has not declined.  Don't confuse manufacturing employment with manufacturing capacity or output.

What?  Inreased productivity due to increases in technology?  

One has to wonder where these numbers are coming from.

http://www.census.gov/indicator/www/ustrade.html

What's your explanation?


Grun,

"Of course, I welcome anything that would cripple the evil USA while empowering wise, benevolant societies like Europe or China."


Fallacy: Appeal to Consequences of a Belief

http://www.nizkor.org/features/fallacies/appeal-to-consequences.html

[NUKE]

I wish the US would fall to pieces already so we can just get it over with.

Maybe China will do a better job at being the only superpower one day and I can go onto a Chinese BB and ***** about them

Seriously though, I think that the US is kind of the world's golden goose......nobody really wants it to go down in flames.

In time everything will work itself out, for better or worse.

[Mini D]

Is this the first prediction of the colapse of the dollar thrawn... or is this just the first time you've actually paid attention to it.  I mean... really... worse case is the U.S. dollar drops to near the same level as the Canadian dollar.

Rolex, there's something that I find a bit odd about your fundamental belief.  It doesn't seem to take into account a major recession that began in late 1999.  How does a government recover from a recession?  There's really 3 basic steps to take.  I saw this asked during the debates and it almost seemed as if nobody in the room had taken fundamental economics.  Do you know what a government can do to recover from a major recession?

I'd rather see government spending and taxes cut.  I'd like to see an end to several government programs.  I'd like to see an end to overseas subsidizing of virtually everything.  I'd like to see our tax dollars stay at home.  But in a recession, I can see where things would be different.

[Yeager]

who cares?  all we need is the average earth temperature to increase two more degrees and the slide into global warming will become irreversible and catostrophic.  My understanding is the average world temperature increase is .2 degrees per year and speeding up.

10 years and the earth climate will slide irreversibly into a warming trend that will turn us all into boiled meat on bleached bones so this eventual slide of the great satan into deserved obscurity is all moot.

Yeeha!

[Nash]

You and your gripping obsession with Armageddon again.

[Yeager]

the end is near but this time its true!

and canada, like the little twin head attached to the host babies body will die too along with the host baby muhahaha!

[Nash]

You're a freak, you know that right?

(it aint a bad thing).