http://www.interventionmag.com/cms/modules...rticle&sid=1057
Full Version: Dubya's Voodoo Economics
QUOTE
America's trade deficit is rising and the dollar is falling. So what do George Bush's economic policies portend for America's future?
The opening sentence is laughable. The author is mad that we have a trade deficit AND that the value of the dollar is falling? Firstly, trade deficits don't matter at all. If something is cheaper in another country, you buy from that country. I have a trade deficit with Wal-Mart.
The truly ridiculous part is that he apparently knows nothing about economics. The reason we have had a trade deficit for so long is that our dollar was strong. This means we buy from other countries because our strong dollar can purchase a lot there. If you have a problem with trade deficits, a weak dollar should be a godsend for you. This means that other countries' companies will want to buy goods in the US because ours are now cheaper. The opening sentence makes it clear that no matter what happens while Bush is in office, the author will spin it negatively.
I failed to read the rest of the article after the first paragraph. This was because I also looked on the sides of the page and saw the books they were advertising. This was not an objective viewpoint or website.
QUOTE (dkward2 @ Apr 19 2005, 01:29 PM)
The opening sentence is laughable. The author is mad that we have a trade deficit AND that the value of the dollar is falling? Firstly, trade deficits don't matter at all. If something is cheaper in another country, you buy from that country. I have a trade deficit with Wal-Mart.
The truly ridiculous part is that he apparently knows nothing about economics. The reason we have had a trade deficit for so long is that our dollar was strong. This means we buy from other countries because our strong dollar can purchase a lot there. If you have a problem with trade deficits, a weak dollar should be a godsend for you. This means that other countries' companies will want to buy goods in the US because ours are now cheaper. The opening sentence makes it clear that no matter what happens while Bush is in office, the author will spin it negatively.
I failed to read the rest of the article after the first paragraph. This was because I also looked on the sides of the page and saw the books they were advertising. This was not an objective viewpoint or website.
The truly ridiculous part is that he apparently knows nothing about economics. The reason we have had a trade deficit for so long is that our dollar was strong. This means we buy from other countries because our strong dollar can purchase a lot there. If you have a problem with trade deficits, a weak dollar should be a godsend for you. This means that other countries' companies will want to buy goods in the US because ours are now cheaper. The opening sentence makes it clear that no matter what happens while Bush is in office, the author will spin it negatively.
I failed to read the rest of the article after the first paragraph. This was because I also looked on the sides of the page and saw the books they were advertising. This was not an objective viewpoint or website.
You don't have to know much about economics to figure out that losing high tech and industrial jobs to China and India will eventually come back to bite america's rear end. Who will pay the interest on the deficit (forget about the actual deficits which are in the multi-trillions) when your children will either work at McDonalds or sell insurance?? What is ridiculous is the notion that you can have an economy by on doing each other's laundry, you need to create PRODUCT, and GOOD, competitive PRODUCT that you can sell to people all over the world, that's the only way to maintain a high standard of living.
USA's standard of living will fall (we are seeing it with increased poverty and bankruptcies already) while the rest of the world will rise.
Right now, the entire world is funding USA's spending spree with only an "I O U" and worthless green-back in return to those countries like Japan and China. The day will come when Japan and China will say enough is enough when they realize they will never get paid.
QUOTE (OsManli @ Apr 19 2005, 05:49 PM)
You don't have to know much about economics to figure out that losing high tech and industrial jobs to China and India will eventually come back to bite america's rear end. Who will pay the interest on the deficit (forget about the actual deficits which are in the multi-trillions) when your children will either work at McDonalds or sell insurance?? What is ridiculous is the notion that you can have an economy by on doing each other's laundry, you need to create PRODUCT, and GOOD, competitive PRODUCT that you can sell to people all over the world, that's the only way to maintain a high standard of living.
USA's standard of living will fall (we are seeing it with increased poverty and bankruptcies already) while the rest of the world will rise.
Right now, the entire world is funding USA's spending spree with only an "I O U" and worthless green-back in return to those countries like Japan and China. The day will come when Japan and China will say enough is enough when they realize they will never get paid.
USA's standard of living will fall (we are seeing it with increased poverty and bankruptcies already) while the rest of the world will rise.
Right now, the entire world is funding USA's spending spree with only an "I O U" and worthless green-back in return to those countries like Japan and China. The day will come when Japan and China will say enough is enough when they realize they will never get paid.
You're right Osmanli. Unfortunately, you are not one of the few who is schooled in the science/art of economics. The fact is that the US is not losing high tech and industrial jobs to China and India. If we lose jobs, it is because of robotics. You are supposed to be some automotive engineer, probably an assembly line assemblier, and you know that Ford uses robots to cut down on the manpower numbers. It cuts down on overhead and maximized profit margins. And that is what is called competition.
I could post links fortfying my point, but you would not bother to read it. In truth, the US economy is robust, and growing faster than other developed countries. Perhaps you can prove me wrong by showing one that is growing faster. I am talking about developed countries, mind you. So don't throw China or India in the mix. Perhaps you would care to compare Canada, where you are currently residing?
OsManli
Lad just a wee bit of an Idea given all the whinning and all!
That is all!
Lad just a wee bit of an Idea given all the whinning and all!
That is all!
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