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Oldtimer
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Joined: 10 Feb 2005
Posts: 24734
Location: Northeast Montana
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hopalong
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Joined: 12 Nov 2006
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Location: Az.
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Oldtimer
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Joined: 10 Feb 2005
Posts: 24734
Location: Northeast Montana
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 Posted: Wed Apr 09, 2008 7:30 pm Post subject: |
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The true conservative publications can see the farcity in Bushenomics- and how GW is selling out our country....Just because he's never had to be accountable for a thing in his life- doesn't mean you can continue to spend without keeping a source of income to pay for it...
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MONEYNETDAILY
Will trade deficit trigger depression?
Economists: It's de-industrializing America, leading nation toward 2nd-rate power status
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Posted: April 09, 2008
12:45 am Eastern
© 2008 WorldNetDaily
WASHINGTON – America is selling its birthright not for a mess of pottage, but for a mess of Chinese junk, and the resulting "unsustainable" trade deficit is leading "to the collapse of the dollar, depression and conversion of the United States to a second-rate power," says a new book written by three generations of a family of economists.
"Not only will the United States feel the pain, but other countries will as well," write Raymond, Howard and Jesse Richman in "Trading Away Our Future." "Because other countries are dependent upon the U.S. dollar as a reserve currency and because they are dependent on exports to the United States to sustain their own economies, the eventual collapse of the dollar could wreak havoc on the economies of the whole world."
While some other economists have claimed there is no danger from a trade deficit that has reached nearly $60 billion, and some have even suggested they represent a blessing for Americans, the authors strongly disagree.
"A basic principle of economics is that there is no free lunch," they write. "Those who think that the Chinese, Japanese, Saudis, et al, are giving the United States a free lunch when they sell more than they buy are engaged in short term thinking that ignores huge long term costs."
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=61121 |
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Steve
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Joined: 13 Feb 2005
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Location: Wildwood New Jersey
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) things- heres a few more the article listed showing that the while our Bush led country stagnates the world is passing us by- much of it supported by Bush's sell out the US policy....
