Voyager wrote:Our biggest problems will be financial by 2030... third world nations are outproducing us in the manufacturing sector because we moved our manufacturing plants there for cheap labor.
China is kicking our ass economically. We cannot be a service-only nation without selling products to the rest of the world and expect to have a thriving economy. Without a good economy all the other problems cannot be dealt with because there will be no funds available for them.
There's a reason. Over the years, China has purchased a very large store of dollars, in an effort to peg their yuan against the dollar. The end result is that their businesses (which remember, are state businesses) are never seriously affected by currency translation/re-measurement issues. Therefore, they can always deliver a product that the US will be able to afford and consume....contrast this with countries like England, who's pound has remained relatively strong to the dollar. Anyone that's a guitarist can understand this by looking at how expensive Celestion, Marshall and Vox products have become in the past 10 years.
We allowed this to happen, because as a country we have become a huge debtor. I mean, who's going to pay for all of the wars, the bailouts, the healthcare, etc....the idiots that have voted for the Pelosi's, Reid's, Bush's and Obama's think that money grows on a tree somewhere in washington. It doesn't. We just sell our debt to other countries. China scoops it up...because we give them a huge export market.
Granted, had we not had the global debt market to tap into, we would have entered the Greatest Depression (which would made the one in the 30s look like the roaring 20s) right around the time Bill Clinton was taste testing cigars. But that's neither here nor there.
The fact is, we have a global debt market and for the past 20 years, we've increased our foreign debt significantly.
Anyone that thinks our economy has green shoots of life is seeing things. We're in for a very long haul out of this...and there's ALOT of danger ahead.
Anytime China decides to look for greener pastures (no pun intended) it can dump our dollars on the markets and drive us into financial ruin.
China doesn't need an army to blast us into the dark ages. They can do it with their banks....
Obama's just desperate to find a way to stave off this financial ruin long enough to pass it on to the next poor sap that sits in his chair. Presidents have been gutlessly doing this for over 20 years. Bush I left Clinton with the prospects of financial ruin....Clinton left it for Hayseed...and Hayseed left the mother of financial messes for YoMamma. Trust me, YoMamma is going to string this along anyway he can....and dump it on his successor....
There's no easy way out of this problem. The only real solution is to cut government spending by 90% or greater....and that's not going to happen in our lifetimes.
Posted: Wed Sep 16, 2009 1:07 am
Why should I believe this just because some Mayan calendar says so? Really I would like someone to shed some light on this cause it bugs me that people keep saying it 