The U.S. is on a path to becoming a Third World economy.

The U.S. is on a path to becoming a Third World economy. (Full Version)

All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion

Message

Brain -> The U.S. is on a path to becoming a Third World economy. (3/21/2010 12:07:38 AM)
This is not surprising considering the selfish behavior of leaders/politicians. The Republican Party is 100% corrupt and Democrats are 65% corrupt so the future looks pretty gloomy and this is unlikely to change. Obama selling change is selling a fallacy because healthcare and Wall Street “reforms” are unsatisfactory. Republicans are selling lies and manure. The U.S. is on a path to becoming a Third World economy. The American economic and political leadership has used its power to serve its own interests at the expense of the American people and their economic prospects. By enriching themselves in the short-run, banksters and politicians have driven the U.S. economy into the ground. Some very discouraging reports have been issued this month from the Bureau of Labor Statistics. There have been record declines in both jobs and hours worked. At the end of last year, the U.S. economy had fewer jobs than at the end of 1997, twelve years ago. Hours worked at the end of last year were less than at the end of 1995, fourteen years ago. The average workweek is falling and currently stands at 33.1 hours for non-supervisory workers. Charles McMillion has pointed out that unit labor costs actually fell during 2009, but that non-labor costs have been rising throughout the decade. The rise in non-labor costs perhaps reflects the decline in the dollar’s foreign exchange value and the increased dependence on imported factors of production. Economists and policymakers tend to blame auto management and unions for Detroit’s fall. However, American manufacturing has declined across the board. Evergreen Solar recently announced that it is shifting its production of solar fabrication and assembly from Massachusetts to China. A U.S. Department of Commerce study of the precision machine tool industry has found that the U.S. comes in last. The U.S. industry has a shrinking market share and the smallest increase in export value. The Commerce Department surveyed American end-users of precision machine tools and found that imports accounted for 70 percent of purchases. Some U.S. distributors of precision machine tools do not even carry U.S. brands. The financial economy which was to replace the industrial economy is nowhere in sight. The U.S. has only five banks in the world’s top 50 by size of assets. The largest U.S. bank, JPMorgan Chase ranks seventh. Germany has seven banks in the top 50, and the United Kingdom and France each have six. Japan and China each have five banks in the top 50, and together the small countries of Switzerland and the Netherlands have six with combined assets $1.185 trillion more than the five largest U.S. banks. Moreover, after the derivative fraud perpetrated on the world’s banks by the U.S. investment banks, there is no prospect of any country trusting American financial leadership (Paul Craig Roberts [email him] was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University) http://www.informationclearinghouse.info/article25027.htm

willingtosuck -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 3:18:02 AM)
There yiu go again Brian when the cowboys come to Calgary this summer we may make All of Canada the first colony of say west Virgina which is all you rate any way. All that comes from Canada is wind,snow and bull shit like you. Move tol America then comment on it,, That is like someone from Florida saying Canada has weather that is too cold and havint the Bib bomers drop some nukes to warm it up for you.

SL4V3M4YB3 -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:05:55 AM)
quote: ORIGINAL: Brain The financial economy which was to replace the industrial economy is nowhere in sight. The U.S. has only five banks in the world’s top 50 by size of assets. The largest U.S. bank, JPMorgan Chase ranks seventh. Germany has seven banks in the top 50, and the United Kingdom and France each have six. Japan and China each have five banks in the top 50, and together the small countries of Switzerland and the Netherlands have six with combined assets $1.185 trillion more than the five largest U.S. banks.[/size][/font] There is a balance to be found between monopolies and being too small that you are endanger of overseas takeover. To huge and the risk is in one place, too small and you are a target of takeovers. I think all in all you need to stop expecting your government to fix your economy, regardless of the policy they set it'll always be a step behind real time events due to the sluggish nature of big organisations. All they can do realistically it help small businesses establish themselves.

eyesopened -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:09:30 AM)
quote: ORIGINAL: SL4V3M4YB3 I think all in all you need to stop expecting your government to fix your economy, regardless of the policy they set it'll always be a step behind real time events due to the sluggish nature of big organisations. All they can do realistically it help small businesses establish themselves. Brain is a Canadian. He doesn't expect Canada to fix the United States.

thishereboi -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:22:12 AM)
quote: ORIGINAL: willingtosuck There yiu go again Brian when the cowboys come to Calgary this summer we may make All of Canada the first colony of say west Virgina which is all you rate any way. All that comes from Canada is wind,snow and bull shit like you. Move tol America then comment on it,, That is like someone from Florida saying Canada has weather that is too cold and havint the Bib bomers drop some nukes to warm it up for you. Was there a point to your post or were you just showing us that they have arrogant idiots in Texas also? I bet your momma is so proud of you[8\|]

SL4V3M4YB3 -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:29:26 AM)
quote: ORIGINAL: eyesopened quote: ORIGINAL: SL4V3M4YB3 I think all in all you need to stop expecting your government to fix your economy, regardless of the policy they set it'll always be a step behind real time events due to the sluggish nature of big organisations. All they can do realistically it help small businesses establish themselves. Brain is a Canadian. He doesn't expect Canada to fix the United States. I could have easily said 'I think all in all we should stop expecting our governments to fix our economies' as I was speaking generally about the nature of all governments.

willingtosuck -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:29:54 AM)
no i was saying that if you do not live in america you should let american politics alone.

thishereboi -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:35:01 AM)
The Canadians on this board have just as much right to an opinion as anyone else on the boards.

came4U -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:38:28 AM)
I don't have interest in the topic but, I am Canadian but my kids are US citizens so, lots about American politics interests me. I like to keep track of what goes on there (and here) for that reason. What goes on in their worlds is VERY important. *k, have fun lol

eyesopened -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:38:46 AM)
quote: ORIGINAL: SL4V3M4YB3 quote: ORIGINAL: eyesopened quote: ORIGINAL: SL4V3M4YB3 I think all in all you need to stop expecting your government to fix your economy, regardless of the policy they set it'll always be a step behind real time events due to the sluggish nature of big organisations. All they can do realistically it help small businesses establish themselves. Brain is a Canadian. He doesn't expect Canada to fix the United States. I could have easily said 'I think all in all we should stop expecting our governments to fix our economies' as I was speaking generally about the nature of all governments. And I agree with you to a certain extent. Generally, government tends to be reactive rather than proactive, even in the best of times. I suppose the same could be said for myself and many individuals as well.

Termyn8or -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:39:36 AM)
I see they're picking on you Brain. Well that's CM for ya. Perhaps if we took a look at some figures we'll know. Perhaps Ken will come in handy here. Take the per capita national debt of a US Citizens vs Bangladesh. I don't know exactly where we stand but I don't think we are quite on the highest ground to say the least. Actually IMO we are third world now, it just hasn't become apparent as of yet. I wonder if the article is still out there "America by the numbers" which gives figures on our way here vs other countries. Our infant moirtality rate sucks, medical overall, though we pay the most and have the most uninsured. Our kids can't compete with foreigners in math and science, and even Howard Stern made a point with his "Man on the street" questions, proving that people are not all that smart. The article makes clear that the only thing we are number one in is debt and aggression. Welcome to the third world, you have arrived. Enjoy your stay and do come again. T

SL4V3M4YB3 -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:39:45 AM)
Yes especially considering they are probably quite closely linked trade wise. No nation can believe the status of its economy doesn't have a knock on effect elsewhere in the world. The French and the German's are telling us all the time to lower our debt level, we've not done it yet just to annoy them (I'm mean we could have paid that bill yesterday if we wanted to but we like hearing those other nations moan about us).[:D]

willingtosuck -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:39:48 AM)
about canada not about the states. and calling names is like kindergarden stuff so you just showed the world your mentality.where are you from??

eyesopened -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:51:55 AM)
quote: ORIGINAL: willingtosuck about canada not about the states. and calling names is like kindergarden stuff so you just showed the world your mentality.where are you from?? Whether we like it or not, the United States is not isolated from the rest of the world and what happens in one country will have a ripple effect on other countries. I can get a little tired of citizens of other countries harping about what is wrong with the United States. But I also see that it is important for me, as a US citizen, to know the opinions of others. It can help me grow as a person and as a citizen. I don't have to agree. I only wish the OP would stop saying things like 100% of Republicans this and that, but I realize now that I have the option to ignore. LOL... I have the right to remain silent, but not always the ability.

thishereboi -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 5:59:33 AM)
quote: All that comes from Canada is wind,snow and bull shit like you. quote: ORIGINAL: willingtosuck about canada not about the states. About the US, England, Germany....pretty much any country or subject you can think of. Just because you don't like their opinions doesn't change shit. They still have a right to say what they like. and calling names is like kindergarden stuff so you just showed the world your mentality. Odd, I thought the same thing when you wrote "All that comes from Canada is wind,snow and bull shit like you. " I guess we know where you stand intellectually. where are you from?? Detroit, where the weak are killed and eaten.

cadenas -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 6:05:50 AM)
quote: ORIGINAL: Brain The U.S. is on a path to becoming a Third World economy. A U.S. Department of Commerce study of the precision machine tool industry has found that the U.S. comes in last. The U.S. industry has a shrinking market share and the smallest increase in export value. The Commerce Department surveyed American end-users of precision machine tools and found that imports accounted for 70 percent of purchases. Some U.S. distributors of precision machine tools do not even carry U.S. brands. The financial economy which was to replace the industrial economy is nowhere in sight. The U.S. has only five banks in the world’s top 50 by size of assets. The largest U.S. bank, JPMorgan Chase ranks seventh. Germany has seven banks in the top 50, and the United Kingdom and France each have six. Japan and China each have five banks in the top 50, and together the small countries of Switzerland and the Netherlands have six with combined assets $1.185 trillion more than the five largest U.S. banks. Moreover, after the derivative fraud perpetrated on the world’s banks by the U.S. investment banks, there is no prospect of any country trusting American financial leadership Yawn. Of course the points about corruption and greed are well taken, but it seems to me that this article completely misses the real danger. The real danger is looking backwards. "Past performance is not an indication of the future". There is a lot more to the economy than manufacturing and finance! Anybody who ever believed the US could become a financial economy - or an economy based on any one industry - was delusional. In order to support a large country like the USA, the financial industry would have to handled the finances of the whole world, plus several planets. Such a specialization can only work for tiny countries such as Liechtenstein (with a population similar to Helena, Montana) or Switzerland (substantially smaller than San Bernardino County in California). The second fallacy is that the USA can, or even should, try and survive on manufacturing. Manufacturing is to the 21th century what farming was to the 20th century: a formerly major field, a has-been. And that's a good thing. Paradoxically, bringing manufacturing back to US shores would actually lower the standard of living here. The real danger to the US economy is that we rest on our laurels. The only hope for the US economy is to continually develop and maintain leadership in completely new fields where we don't have competition - the type of thing we did in the 20th century with Information Technology. Biotechnology (which is at serious risk if health insurance reform fails). Space technology. What those technologies were for the 20th century, we now need to replicate for the 21st century. Else the USA will end up as a third-world country. To do that, we need to recognize such fields. We need to invest in research - not just applied research, but also basic research. We need to educate our children in the sciences. We need to have a vision. And we need to shed ideology. Otherwise, we will indeed end up as a Third-world economy.

lobodomslavery -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 6:06:11 AM)
This might sound harsh but I will say it anyway. America was an economic basket case managed by an idiot George Bush. It wasnt helped by basket case American bankers who not content with their lot were fuelled by utter greed. Greed and the desire to speculate recklessly. It was this reckless abandon and willingness to create risks that drove our economies forward in the first place but they lost the run of themselves and succeeding in driving all our economies into the ground by their reckless disregard and speculation with our money. Unfortunately this greed percolated across the world as America has a significant influence in all economies with US investment world wide and consequently US personnel. However there is hope and the admiral restraint and intelligence so missing in George Bush which Barack Obama does thankfully possess, restraint and intelligence, will put our economies back on a solid footing with time Kevin

Termyn8or -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 6:08:24 AM)
"I can get a little tired of citizens of other countries harping about what is wrong with the United States" Yeah, I am in Ohio and these foregners have no idea. I have ALOT more to say because I am here and I know. There is alot wrong with this country and I have every right to say it. And I think that if this is to be an inteernational "community" of sorts, complaining about one's neighbors has been going on for a long time. And I know that quite a large portion of the legal immigrants who come here want to go back at some point. Our image is holding up, but everything else is falling down. This country was supposed to be separate and different, but it is not. T

cadenas -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 6:20:20 AM)
quote: ORIGINAL: lobodomslavery This might sound harsh but I will say it anyway. America was an economic basket case managed by an idiot George Bush. It wasnt helped by basket case American bankers who not content with their lot were fuelled by utter greed. Greed and the desire to speculate recklessly. It was this reckless abandon and willingness to create risks For the most part, I agree with you - but that last bit actually is more complex, and even more greedy. It also goes back over the last 30 years, and some Democratic administrations and Congresses were to blame, too. The real reason behind all that is that we have allowed profits to be separate from risks. In the past, investments pretty much followed the rule "the more profitable an investment is, the riskier it is." What if you could reap the profits, and pawn off the risk on somebody else? That's exactly what the financial industry has perfected to an art. We used to have regulations that required banks etc. to be conservative with their investments. Deregulation changed that. In the short run, that led to a boom. When investments started failing on a large scale, the house of cards collapsed. And it wasn't so much that nobody saw it coming - it was more that nobody cared about risk because everybody knew that the government would have to bail them out if things went wrong. Kind of like a gambler who gets to pocket his winnings and charges the government for his losses.

Termyn8or -> RE: The U.S. is on a path to becoming a Third World economy. (3/21/2010 7:12:45 AM)
Loby (if I may address you so casually), I agree that GWB was ridiculous. However this shit started a long time ago, and FDR had a big hand in it, and he was not a republican. A socialist actually, that chicken in every pot shit. It was he who made this economy so vulnerable. It was before but he made it alot worse and pretty much suspended the Constitution. The following admistrations ever since have been borrowing like crazy, perhaps to appease the spirit of FDR or some shit, but I don't think it's funny at all. To blame this shit on one party or the other is stupid, they got you by the hook in the nose. They are all the same and what we are really in is a class war, that is between the givers and the takers. That means all of them. Bush, Carter, Reagan, Nixon, Clinton, all of them. Get it through your fucking head, they are like the NFL, broken up into the NFC and AFC, it means nothing. It's all a dog and pony show. I had great hope for Obama actually. He talked a good talk and I actually believe that he wanted to do what he said. Maybe he did. All this and half Black to boot ? This was worth a go, because White Men have run this country into the ground. I thought it time for some fresh blood. But he turned out like all the rest, just a carbon copy but burnt a bit. I'm sure the Man has some ideals, but the reality is that a President is but a figurhead, nothing more. They get you in that room and you find out just why you can't do what you wanted. And that's at best. Carter was largely innefective, but that is a good thing if you see things the way I do. The government doesn't need anymore fingers in our pies, and the less they do the better. He more proved himself worthy after his term, between having the balls to go to the middle east and the habitat for humanity thing. Like him, I think Obama is a good Man, but just simply cannot fulfill his "promises". I am not speaking of any shadow government right now, just advisors from the NSA, CIA, banks and insurance industries are enough to convince anyone that they can make you or break you. You are President, but you find that you are pretty much powerless. Not so much powerless, but you are plugged into them and they can cut your legs off just like shaving in the morning. Money has bought this country and it is just about paid off. I see anyone who takes on partisanship to be one of limited mind or scope, as one who does not yet see the truth. They are all Inglorious bastards. Oh and the Bush family ? I've heard a few things about them as well. Mainly that in private they are the worst pottymouths around. They also use the N word and everything when in private, among themselves. They are rich, hubristic assholes and never gave a fuck about anyone but their own. That includes GHWB. That thousand points of light at the Bush dinner table was more like "Let you motherfuckers pay for it, I ain't". And that was a good day. Get your head out of the sand and hop up on the fence. You will see that neither side is any good. T

Page: [1] 2 next > >>

Collarchat.com © 2025

Terms of Service

0.046875