Trade Nightmare

[katrina]

Chief, That was hateful. What, it's easier to be nasty than give your opionion??? Shame on you....

 

[Mike]

Chief, That was hateful. What, it's easier to be nasty than give your opionion??? Shame on you....

Katrina, The facts sound more like the black economist "Walter Williams".

He writes a great column.

 

[katrina]

Maybe so Mike,
Just irritates me if you don't buy into what somebody is saying they critisize you. I was trying to be funny, yet if you do any research on the economics you will see that it's not as bad as they would like you to believe. The U.S. is a good thing anyway you look at it. And I darn sure wouldn't bet the farm on what a brokerage house has to say because we all know they have an agenda and it's with thier fingers in your pocket.. Enough said after spending all day with kindegardeners and first graders I need a drink.................

 

[agman]

I've listened to a lot of economic bull on this session, so here comes so more.. I think that the fact that President Clinton broke with tradition and criticized Pres. Bush for running up mushrooming deficits was the most telling economic factor to hit the news lately. He made it perfectly clear to the nation that the only thing keeping our govt. afloat is the fact that all the nations that we have a huge trade deficit with invest their money back into our govt securitys. So we really don't own our govt. anymore. This has a lot of ramifications. First of all it causes the dollar to loose value. It also means we have no clout at the bargining table. So why should Japan take our beef? What can't threaten with trade retaliation because they could cash in their treasury bills and poof we'd have no govt. Same goes for China and Korea. So they essentially have an ax over our head and can keep trading to their advantage. I've heard a lot of complaints about Canadian beef disrupting our markets on this website. But if we are not able to stop the twin deficits from mushrooming I wonder if they will want to sell us beef for worthless dollars. I think the thing all you so called economists are overlooking is the value of the dollar. What good does it do to try and make more money if it keeps getting more worthless? I think this is the issue that will effect us and our children for a long time and I see no way out of the dilema. Our trading partners are too smart to let us start to balance trade and they have the clout. So what next?

This is the same politiacal rhetoric that has gone on for years. Since the 1947 the U.S has run a fiscal deficit in all but twelve years. The current deficit is the largest in absolute dollars but ranks well below many previous deficits when measured relative to the size of our economy. That does matter you know.

We have posted trade deficits for decades. Which one of you would be willing to trade our economic growth with a country that has run a surplus trade position or fiscal surplus during the same period. Since 1947, GDP has grown from $1.56 trillion to $11.6 trillion in real dollars. What nation can match that growth-name one? The sky is not falling nor will it.

What next? The U.S is the engine that could and has pulled the world economic engine. Our trade deficit is more a sign of strength then weakness. As China grows they will fulfill more of that role. As that happens our trade deficit will begin to shrink. The doomsdayers are always wrong. Why ever pay any attention to them?

 

[Econ101]

I've listened to a lot of economic bull on this session, so here comes so more.. I think that the fact that President Clinton broke with tradition and criticized Pres. Bush for running up mushrooming deficits was the most telling economic factor to hit the news lately. He made it perfectly clear to the nation that the only thing keeping our govt. afloat is the fact that all the nations that we have a huge trade deficit with invest their money back into our govt securitys. So we really don't own our govt. anymore. This has a lot of ramifications. First of all it causes the dollar to loose value. It also means we have no clout at the bargining table. So why should Japan take our beef? What can't threaten with trade retaliation because they could cash in their treasury bills and poof we'd have no govt. Same goes for China and Korea. So they essentially have an ax over our head and can keep trading to their advantage. I've heard a lot of complaints about Canadian beef disrupting our markets on this website. But if we are not able to stop the twin deficits from mushrooming I wonder if they will want to sell us beef for worthless dollars. I think the thing all you so called economists are overlooking is the value of the dollar. What good does it do to try and make more money if it keeps getting more worthless? I think this is the issue that will effect us and our children for a long time and I see no way out of the dilema. Our trading partners are too smart to let us start to balance trade and they have the clout. So what next?

This is the same politiacal rhetoric that has gone on for years. Since the 1947 the U.S has run a fiscal deficit in all but twelve years. The current deficit is the largest in absolute dollars but ranks well below many previous deficits when measured relative to the size of our economy. That does matter you know.

We have posted trade deficits for decades. Which one of you would be willing to trade our economic growth with a country that has run a surplus trade position or fiscal surplus during the same period. Since 1947, GDP has grown from $1.56 trillion to $11.6 trillion in real dollars. What nation can match that growth-name one? The sky is not falling nor will it.

What next? The U.S is the engine that could and has pulled the world economic engine. Our trade deficit is more a sign of strength then weakness. As China grows they will fulfill more of that role. As that happens our trade deficit will begin to shrink. The doomsdayers are always wrong. Why ever pay any attention to them?

After having dealt with people who have overextended their credit and finally lost their largest asset, their home, I have seen the results of your advice agman.

In the U. S. the politician have raided the social security trust fund, borrowed heavily with addtitional debt to those countries with surpluses and compromised the future of every retiree except the very very top retirees. Congress is now asking whether to wait to implement the medicaid prescription plan to help pay for this mounting debt in the U.S.

Go party if you want to, Agman, just do it with your own money. Choose to be a grasshopper if you want, just don't come knocking on the ant's door when winter comes.

Doomsday? I would not go so far as to predict the future, but I do know that for some people every day is a doomsday; for they live with the consequences of your advice. Every man in his life has to deal with his own self interests and compromises to his integrity. Some have failed at this more than others. Politicians are more prone in this respect.

I just hope your Waterloo isn't paid for by my kids

 

[katrina]

Agman,
From what I can research you are correct....There is nothing better than the good old U.S.A. For the money...But hey what do I know, I supposidly listen to rush and condenced my findings. God forbid I would even research or think...Must be a woman thing.........

 

[mrj]

Especially good realistic posts,Katrina and Agman.

Predictable ones by "Doom & Gloom" Econ 101!

Econ, you denigrate Katrina because YOU suspect her info may have come from Rush. Is the info automatically incorrect because he repeats what he has heard, found in his research, or what? And do you have ACCURATE info to counter that info you imply is suspect?

Adventureman, when you state "Foreign governments are financing your country", aren't you seeing the cup as half empty instead of half full? Obviously those governments see the USA as a good INVESTMENT! I might prefer the "debt" to be held by our own citizens as an investment......but too many choose to spend all their money rather than investing some of it, and don't some of our citizens also "invest" in other nations' "debt"? Is borrowing and lending bad? Simply put, the total picture of investment, debt, and economic growth of the USA is healthier than some political hacks want to admit.......preferring the ignorant masses to believe their mantra that this administration is driving the country into the ground.

Econ 101, sure some individuals are in financial trouble, maybe a lot of them are. Who forced them to spend more than they could afford to? The current administration wants people from all income levels to learn the benefits of saving, investing, and taking more responsibility for themselves. We know it can be done, even on very low incomes. Lifestyles and choices made by individuals which make and keep them poor are NOT the responsiblity of government! "Helping people" who are "poor" with other people's money (taxes) has not helped after multi-billions of dollars have been expended on the War On Poverty. Maybe it is time to let others give it a shot, that is, the churches and others that also teach people to make better choices, take better care of their children, and not have more of them than they can adequately care for. If only people really un-able to help themselves were under government care, the budgets could drop dramatically and people would again have pride in their own achievements.

BTW, Social Security was never intended to fund retirement......the age for receiving retirement benefits was at the normal age of lifespan. As the expected lifespan has increased, the system has required ever more funds to accomodate that increase. Counting on Soc. Sec. has led people to do less planning and saving on their own.

Also, the tax cuts have actually generated MORE tax income! Enough of the tax savings was invested in business and more jobs to accomplish that INTENDED result.

And, think what the rebuilding of the Hurricane damage will generate in taxes!

Now, if we could only STOP the "business as usual" of Democrat political plundering in LA, in particular, and the country in general. There should be zero tolerance of any crime, most especially getting rid of the gangs and any organizaed crime. Think of the financial benefits to the citizens and to the nation!

MRJ

 

[Cowpuncher]

The government has a slick way of handling debt. Inflation.

The national deficit is about 2.3 percent of GNP - less than most countries.

Worrying about these things will just keep you from doing you business.

If you are worried about your dollars becoming worthless, borrow a bunch and buy hard assets like more land. Dollar gets cheap enough and you can pay you mortgage with your pocket change,

Trouble is, there isn't a whit of difference who controls congress or the white house - - except they spend our money on different things. Then they spend our kids money - and grand kids.

 

[mrj]

The government has a slick way of handling debt. Inflation.

The national deficit is about 2.3 percent of GNP - less than most countries.

Worrying about these things will just keep you from doing you business.

If you are worried about your dollars becoming worthless, borrow a bunch and buy hard assets like more land. Dollar gets cheap enough and you can pay you mortgage with your pocket change,

Trouble is, there isn't a whit of difference who controls congress or the white house - - except they spend our money on different things. Then they spend our kids money - and grand kids.

Could be, but today even "the poor" are living better than in previous generations, and certainly better than "the poor" in many other nations. Which leads me to believe, even given the apparently poor job of most politicians as a whole, things could be much worse for the middle to low income people in the USA than currently is the case.

MRJ

 

[agman]

I've listened to a lot of economic bull on this session, so here comes so more.. I think that the fact that President Clinton broke with tradition and criticized Pres. Bush for running up mushrooming deficits was the most telling economic factor to hit the news lately. He made it perfectly clear to the nation that the only thing keeping our govt. afloat is the fact that all the nations that we have a huge trade deficit with invest their money back into our govt securitys. So we really don't own our govt. anymore. This has a lot of ramifications. First of all it causes the dollar to loose value. It also means we have no clout at the bargining table. So why should Japan take our beef? What can't threaten with trade retaliation because they could cash in their treasury bills and poof we'd have no govt. Same goes for China and Korea. So they essentially have an ax over our head and can keep trading to their advantage. I've heard a lot of complaints about Canadian beef disrupting our markets on this website. But if we are not able to stop the twin deficits from mushrooming I wonder if they will want to sell us beef for worthless dollars. I think the thing all you so called economists are overlooking is the value of the dollar. What good does it do to try and make more money if it keeps getting more worthless? I think this is the issue that will effect us and our children for a long time and I see no way out of the dilema. Our trading partners are too smart to let us start to balance trade and they have the clout. So what next?

This is the same politiacal rhetoric that has gone on for years. Since the 1947 the U.S has run a fiscal deficit in all but twelve years. The current deficit is the largest in absolute dollars but ranks well below many previous deficits when measured relative to the size of our economy. That does matter you know.

We have posted trade deficits for decades. Which one of you would be willing to trade our economic growth with a country that has run a surplus trade position or fiscal surplus during the same period. Since 1947, GDP has grown from $1.56 trillion to $11.6 trillion in real dollars. What nation can match that growth-name one? The sky is not falling nor will it.

What next? The U.S is the engine that could and has pulled the world economic engine. Our trade deficit is more a sign of strength then weakness. As China grows they will fulfill more of that role. As that happens our trade deficit will begin to shrink. The doomsdayers are always wrong. Why ever pay any attention to them?

After having dealt with people who have overextended their credit and finally lost their largest asset, their home, I have seen the results of your advice agman.

Once again you are wrong. That is habitual for you. I have not advised anyone to overextend their credit in the manner you describe.

 

[Econ101]

This is the same politiacal rhetoric that has gone on for years. Since the 1947 the U.S has run a fiscal deficit in all but twelve years. The current deficit is the largest in absolute dollars but ranks well below many previous deficits when measured relative to the size of our economy. That does matter you know.

We have posted trade deficits for decades. Which one of you would be willing to trade our economic growth with a country that has run a surplus trade position or fiscal surplus during the same period. Since 1947, GDP has grown from $1.56 trillion to $11.6 trillion in real dollars. What nation can match that growth-name one? The sky is not falling nor will it.

What next? The U.S is the engine that could and has pulled the world economic engine. Our trade deficit is more a sign of strength then weakness. As China grows they will fulfill more of that role. As that happens our trade deficit will begin to shrink. The doomsdayers are always wrong. Why ever pay any attention to them?

After having dealt with people who have overextended their credit and finally lost their largest asset, their home, I have seen the results of your advice agman.

Once again you are wrong. That is habitual for you. I have not advised anyone to overextend their credit in the manner you describe.

Wrong on what? The advice I talked about was that these issues are not ones that we shouldn't concern ourselves with. We should. Once again, you are wrong. That is habitual for you.

 

[Twotimer]

Are you guys out to lunch or what? Babies died on the streets of New Orleans due to heat exhaustion. MSNBC Joe Scarborough a staunch Republican and previously strong support of this administration is fed up to here with how the greatest country in the world (huh?) has reacted to this crisis. I just heard that 200 TSA screeners were no shows this morning at Hobby Airport and TSA defended it as "appropriate". Joe Scarborough's point is that our Govt is not behaving like a powerful and responsible Govt and our elected officials, including this Administration, should be held accountable. It's not whether poor people in the U.S. are "better off" absolutely than in Sri Lanka for example, it's what what a great and rich country owes all its citizens in a time of emergency and what is not happening. The plight of poor people in an emergency in the US should be MUCH better than in a third world country.

 

[Mike]

Are you guys out to lunch or what? Babies died on the streets of New Orleans due to heat exhaustion. MSNBC Joe Scarborough a staunch Republican and previously strong support of this administration is fed up to here with how the greatest country in the world (huh?) has reacted to this crisis. I just heard that 200 TSA screeners were no shows this morning at Hobby Airport and TSA defended it as "appropriate". Joe Scarborough's point is that our Govt is not behaving like a powerful and responsible Govt and our elected officials, including this Administration, should be held accountable. It's not whether poor people in the U.S. are "better off" absolutely than in Sri Lanka for example, it's what what a great and rich country owes all its citizens in a time of emergency and what is not happening. The plight of poor people in an emergency in the US should be MUCH better than in a third world country.

Oh I see. You are one of those types that think the Federal Government should be all things to all people. Meanwhile, the Governor needs 24 hours to make up her mind? And the Mayor lets those fully fueled school buses get flooded? Be realistic.

There was a local plan in place. It didn't get implemented. People died because of it.