Re: Back to mindless drivel


"Not Today" <Nottoday@xxxxxxxxxxxx> wrote in message
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"mike hide" <mikehide@xxxxxxxxxxx> wrote in message
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"Not Today" <Nottoday@xxxxxxxxxxxx> wrote in message
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The US has bigger problems than we have in that regard, that is if you
consider it a problem. Personally I do not. Take a look at this:

http://www.economyincrisis.org/

The crisis coming up for the US is who owns its public debt. Half of it
is
owned by foreigners, mostly China and Japan. If they decide to sell
those
dollars it is goodbye US!





If it's goodby US ,who will they sell their products to.

The Russians, Brazil, Europe, the rest of the Far East. And in a few years
themselves. In 20 years the Chinese will have the biggest economy in the
world. And they deserve to.

I suppose the US
differs from most countries in that they have all the raw materials
including gas and oil and have plenty of agricultural capacity to feed
them
selves plus some.

Again, the Russians have all those advantages.

In addition the society is pretty stable,thats why people
invest here. Of course the other half + of the national debt is owned by
Americans.

I guess as one of the posters mentioned earlier few have the
satisfaction
of
producing anything anymore, truth is the UK opted for what was called a
"service Economy" many years ago. The British are in my mind a very
inventive lot, they come up with all kinds of innovations ,problem is
they
never seem to have the money to develop them. A prime instance is the
mini
they never would comply with the US crash and emissions requirements so
they
could not make a go of it and BMW bought them out .IN the US you have to
go
on awaiting list to get one,they sell like hot cakes and are pretty
pricey.
Everytime I see one I think why can BMW make money on them and not the
British. This happens over and over....

Because since the First World War our governments have thought innovative
and inventive engineers and scientists some sort of oddballs. They have
yet
to understand what is not happening, that we have to sell more than we
buy.
Their faith in the City of London knows no bounds. They think the City
will
earn enough to buy cheap goods from China and pay for inflated services to
keep us in clover for ever. The fact is that most UK banks are being kept
afloat by the Bank of England and their ability to help is limited by what
the taxpayer will put up with. It is the same in the States, our banking
systems are in crisis. The days of easy lending are over. The only way out
of this recession is the hard way. We need to rebuild our savings and pay
down our debts. That takes time. But it will take even longer if our
governments keep getting in the way by trying to spend their way out of
trouble.

If you think the US is not heading into recession as well as the UK, take
a
look at your unemployment figures today. They jumped 81000 which makes
your
unemployment now 6.1%. Bad news for some!
I chuckled ironically when I listened to McCain, he is going to cut taxes
to
get "this great country of ours moving again". Economic ignorance! The
last
thing needed in the States, and here, is tax cuts- unless interest rates
are
doubled and public spending massacred. If not, we are all heading for
1970s
style inflation.



It's a proven fact that every time the government reduces taxes ,government
revenues are increased. in the past I have had no time for Mccain, but as
the opposition is basically an empty suit his rhetoric is slowly sinking in.
we currently have two democratic idiots running congress, Pelosi and
Reed.but they are aided by numerous republicans who are democrats in all but
name. I agree with Mccain lets get rid of the liberal dems and the liberal
republicans and start afreash.


.

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