Unions are the blams for companies out sourcing to other countries. Lower the minimum wage to $3 an hour or less and then employers will be able to hire again.
All your food you buy now is the same price but In smaller containers. They are hiding the inflation from us by giving us less. We haven't hit hyperinflation yet then it will cost a days pay for a loaf of bread. Raise your wages all you want but when the dollar falls it's just toilet paper. 47 million on food stamps will cause mass chaos when people go hungry.
Wages are not the problem. It's the stimulus packages, bailouts and the quantitative easing by the FEDS. They are destroying the dollar and causing inflation which is the agenda. They're doing a huge government power grab and killing the middle class. When there done we will all be slaves and totally reliant on big government.
When you factor in the the cost of living in America , real wages in this country are back to the level of the late 1950's. Essentially you're earning $2.50/hr.
Family working together to accumulate hard assets, one leaves home with a foundation they would never otherwise see!! We do it all the hard way all for selfish reasons. Mine, Mine Mine. This is mine, that is yours and we have to live separate lives and there is no "WE" in Family. Imagine the strength if "WE" can come together?
No matter how unrealistic this may sound, especially after we have evolved to where we are. IT IS an answer and there is no doubt it will work. Imagine the Family security
Mass indoctrination of common sense and morals at home must begin as it may take so many years. But we have to believe we can achieve this. If we don't try we are guaranteed doom. This needs to be a massive movement. We have to respect and care for one another again and teach our children to NEVER buy ANYTHING you cannot pay cash for. Families need to work as teams to accumulate assets one at a time. Mom, Dad, Brother,Sister ALL working for Brothers home. How long to save that? 3-4 yrs?
Credit is the tool the elite are using to destroy us and it started in 1913 with the inception of the federal reserve.
ALL kids MUST stay home, work hard and save their money until they can pay cash for their homes and first car. Sounds impossible? Look where we are and where we are going? By continuing to conform with an elite system we will die!!! Refusing this system will be the end for the elite!! Their profits are always on the backs of the peasantry. We need a moral revolution and change.
IT'S TIME!!!!!! IT'S TIME FOR THE PEOPLE TO LOOK OUT FOR THEMSELVES!! I have an idea I will gradually share with all and I think it IS the answer for the people and the END for the greedy. It involves absolutely NO politics whatsoever. We need to take this country back from within. Our own personal everyday actions, morals values, routines can disable ALL politics and elite control as we know it. It starts at home and reverting back to basic common sense. ALL credit MUST be refused,eliminated.
@abanikka VERRRYTRUE! Many more of us will be living in the streets and eating stolen bread, but we must do what we must. Some of us will go to prison just so that we have some place to sleep and food. How stubborn will the poyticians be regarding necessities? I don't know. You tell me...
Losing a job or home can happen to anyone, but it's not the end of the world. (3) Mother of two discovers Work-From-Home secret and is now able to support her family. MorningNews7 com
@OutsourceNews For many it isn't. For some, it even leads to better situations. For many, they get killed or only stabbed and their shoes stolen. Some get thrown out of town. In St Petersburg they don't allow you to sleep in a park daytime or nighttime. Shelters are impossible for many because of the hassles from crackheads. One mother of two (above) has very little effect on the masses. If everyone was in her business, they'd all be out of business real quick. Can't give up, but it's tough.
Much of the economic demise is due to the relationship between low wages and land/rent/food costs. Regardless of wage rates, home rental costs, property taxes, and food costs can and will raise to overcome them, when the politicians are purchased by Big Biz (including banks)- because their bizniz is poverty. Poverty=Profit. The trick for them now, is "How can we steal from people if they don't have money?" Answer: "Jail them, make them work, tax the free few that still have a little savings."
@geehuckwow Don't forget!!! We better keep a very close eye on S.S. They'll get what ever is there IF there is really anything left to get. If this country falls the elite would have already been busy changing their dollars over into more secure instruments, have their travel plans ready to abandon ship with the peoples livelihood.
It's good to see that folks are finally getting it. We have elected officials preaching govt. incompetence, and the evils of govt yet they work for the govt making 100K while their constituents are scraping by.
The answer to this corruption is that every elected official should earn the average of whatever constituency they represent.
For example, there is no way a chicago alderman should make 100K a year yet represents the poorest neighborhood in the city.
Any economist who tries to preach that the Recession has come to an end is full of shit.... All of this government spending which has come to thirteen trillion dollars is setting America up for a double dip recession for 2010-11. Every American now owes roughly 39,000 dollars to erase the thirteen trillion dollars. 2009 was a temporary recovery year due to bailouts.
@vantuba25 ahh.. It's now 40,000+ according to the US debt clock today... Something cool to see... Type in US debt clock it shows a bunch of information..
use common sense when listening to people...low wages can not cause a recession(reasonably speaking)... the unions are about 12% of the workforce so how could cutting this cause a recession?...
Probably because Unions are not the only labor force...Union wages overall are not down too much, but the average worker is making less money...Even if you are making the same today that you made 5 years ago, you are making less money. Cost of living has gone up almost 20-50 percent depending on where you live.
If I make 30,000 a year 3 years ago and could barely afford gas, food, amenities, etc. then what happens when gas doubles, food cost rises 30 percent, and health care cost go up as well. I choose not to go shopping. When you starve the middle class, you starve the market for every employer. When wages are higher, you put people in a different tax bracket, thus, the workers who might not have paid taxes at all that were making 30,000 would pay taxes if they were being paid 50,000.
Listen to your Presidents and follow the history trail. Every president that opposed big business and or credit lending was assainated. Lincoln, JFK, yes the black thing was just thrown up as an excuse or a front. There were bigger things going on behind the scenes, stop listening to news and learn what behind it!
I wish us people could come together and do something without the government i'd say the largest donation of garage junk to pay of some debt and be money flowing instead of rotting in our back yards. metals mostly
illegal immigrants don't have any responsability in this crisis. the reason of this fic crisis are the people who want to have a nice standar of living, but they don't make enough so they get credit for staff they cannot afford.
Most of Chinas 3trillion Dollars of Currency Reserves are caught up in the US Market,China has Little Choice but to BUY More Government Bonds,Too keep up the Value of the Dollar..Chinas hoping for a Quick Recovery!
One of the reasons wages are kept low is immigration, especially illegal immigration. Interestingly, most of the foreclosures in my area were by immigrants.
Unions aren't the answer, because their leaders are stupid about markets. A "living" wage for a clerk at a donut shop will make a cup of coffee cost over $5. To afford this, customers would either not buy or demand higher wages from their employer. It is inflationary. The best way to get a decent wage is to acquire a marketable skill.
Wouldn't stopping immigration increase the price of the cup of coffee..To $5. I don't know, but I don't think immigrants had a lot to do with creating predatory lending practices, and derivatives, and giving themselves huge commissions for selling those debts. Its easy to make immigrants - illegal or not, scapegoats, but to do that misses a deeper point - that big business has moved most of their productions to places where they pay 5cents/hr, and give themselves million$ in bonuses.
mnoorist, illegal immigrants were allowed to get credit cards and many bought homes. They were easily talked into the American Dream, so selling them adjustable rate mortgages was a piece of cake. I've been through a few recessions, so I knew that there was going to be a bust. New legal Immigrants and illegal immigrants were unaware of this danger. This is why immigrants were a big part of the problem. In most New England cities, immigrants were the #1 foreclosed group.
I am so sick of pseudo-leftists who pose as "anti-capitalists" and then just blabber on about unions and neoliberalism. If these people would ever pick up a book by a serious Marxist thinker they would realize pretty quick that unions do not do jack shit, and that no radical working class has ever wanted anything to do with unions.
The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
no... i'm off on a euro 09 tour! run with the bulls, hit the autobahn, smoke a fat one on a pyramid and go off in ibiza 4 the end of summer parties. fuck the world I'm selling everything & i'm outa here!
You will first have to enroll in Obamas Mandatory volunteer Job service civilian service,real Patriot Act that brings out the patriot in all of us. We propose universal civilian service for every young American. Under this plan, All Americans will be asked to serve their country by going through three months of basic training,enlist them for three months of civilian service. biochemical, nuclear or conventional attack
Don't forget the millions and millions of jobs that were taken away from American's and shipped overseas.
This is just an opinion, but if things don't get better, if people lose it all, I see people "taking up the rifle" against those they deem responsible for this catastrophe. Personally, I would not shed a tear.
think about this usa is wanting war with iran for israel, yet israel has more than 200 nucular weapons ,and is in violation of at least 63 un regulations , the world banks are the ones who sponser war , are you paying for this war in advance ???rich mans war poor mans blood, why are bankers still getting pay rises ??wake up
The Guardian errs a bit in that last sentence, of coure. Almost all of the "conditions" mentioned in connection with the bailout have no teeth whatsoever, no enforcement mechanism, no real penalities. They are more properly termed "suggestions," or rather, "PR exercises that we hope our Wall Street lords will deign to at least pretend to follow for a short time, until the heat is off."
Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government's cash has been poured in on the condition that excessive executive pay would be curbed.
Financial workers at Wall Streets top banks are to receive pay deals worth more than $70bn £40bn a substantial proportion of which is expected to be paid in discretionary bonuses for their work so far this year despite plunging the global financial system into its worst crisis since the 1929 stock market crash the Guardian has learned
6 die in family murder-suicide in upscale LA home — An unemployed man with an advanced finance degree who was despondent over his own financial problems shot and killed his wife, three children, mother-in-law and then himself in an upscale home in a gated community, police said Monday.
Recessions are caused by the central bank pure and simple. The Austrian theory of the business cycle explains it perfectly. All these other problems, credit card debt, off shoring of jobs, housing bubble etc are merely symptoms of central bank expansion of money and credit. This video is way off base.
Never mind Lehman Brothers! The US and the UK should file for bankruptcy! The comment below is bang on. All the figures are fiddled and we have people behind closed doors making decisions in their own (pocket lining) interests! The majority are offered low wages and the debt trap! Its NO WONDER that it has all come to this!!
I just laugh at these "economists" that seem to be constantly debating whether we're in recession or not. Have they looked out their window lately?
The real economy is down by at least 15-25% since the mid 90's. The media has done a horrendous in covering it. None of their reporting is cohesive or synthesized. We're told "GDP" goes up, while debt and bankruptcies go up. "CPI" is tame, while on the next page, commodities are soaring.
All the govt numbers are a scam. Don't believe any of it.
Strange so if you lower the wages the profit short term rises but long term nobody can buy your stuff anymore. Isn't that odd ;)
Keeping the politics out of it here..the markets lately been doing some weird things... or actually they been doing what any sane market would to. Instead of what a hyper inflated market would do.
You're democracy is flawed and you should start voteswapping to get your interests to a higher level. Democracy throughout all western nations is flawed and out of date, why should you go to war to bring a flawed systems to other nations?
The real cause is democracy is dead and there's no 'political economy ' anymore but real capitalism and you know what happens, midd class will go away, and 5% rich and the rest of people poor
More damn lies. The recession is really fueled by hyperinflation and the US deficit. Homeowners in great neighborhoods ought to collude to say screw you non-homeowners because this is just that kind of class division. It makes no sense to lower home prices in a good area for the homeless. They should be getting a lowered price home on the outskirts. The price of everything has been hyperraised since 1998 and continues and that is the cause. America the dishonest
If you guys think things are bad now, you haven't been around. I was in rural China in January--imagine riding bikes to get your groceries because you can't afford a car. For entertainment, people played chess or pingpong; they don't have PS3s and Wiis. And starbucks is about 50 YUAN for a cup of coffee, when the average monthly salary is 600 YUAN or less. China as the new economic darling of the world, isn't as spectacular as everybody makes it out to be. If the USA falls, so does China.
@YogaNate79 The United States will fall, mostly because of all the jobs it exported to China among other poverty stricken foreign countries. How ironic huh? Lol
it boggles my mind every time a libertarian proposes ron paul as the solution to our problems and as some say, "the last hope for america." i thought libertarians were all about personal responsibility, not putting faith in some dubious politician. why doesn't anyone talk about what actions we can take as individuals? that's what's i'm interseted in, not the fucking side-show presidential popularity contest.
Ron Paul is different from the other politicians in that he does stress personal responsibility. He is telling us the truth about the economy and how our government spending is out of control. He's the only one that openly declares we're bankrupt. If you don't get it nor take person responsibility after listening to his message, then no one can save you.
I don't know if its 20 trillion, it's a lot though. Its a centrally planned thing where if you exchange money in China, any $20 bills or higher are kept by the bank.
They keep the dollars for reserves, but it could also be used strategically to break the dollar, if they wanted. They'd do it by selling the dollars on the open market slightly below the going value, so that investment in US dollars from US lenders would stop. It could be used before war to slow US funding/production, etc
I serve food to people for tips. I'm so happy that I put myself into massive debt by getting a college education, or I wouldn't have such a great job! Did I mention that I HATE George Bush and I blame him personally for my poverty? Maybe I'm being unfair, but hey, if you can't take the heat stay out of the kitchen, ne?
@raberidoom Hence, the reason your waiting tables. If you are so blind as to think that W is responsible for your situation. I think your going to have a long career either serving tables or washing them. Now go get my F'n Hamburger.
The economic record of the last 17 years is remarkable, particularly when viewed against the backdrop of the 1970s. The USA has experienced two of the longest and strongest expansions in our history back to back. They have been interrupted only by a shallow eight-month downturn in 1990-91. And therefore the American economy is resilient. The Euro nuts are talking of the collapse as it did in 1929. The American economy is resilient as there are always high and lows in economic cycles. It's normal
To vancouverbluz: The economy always recovers, and the American economy is a true testament to that. The USA has been the largest national economy since 1890 and came back from the Crash of 1929, the 1970's slowdown and energy crisis, the early 90's downturn, the recession of 2001-2002, as it will this one too. I think we;ve done pretty well under the circumstances for having a $14-$15 trillion GDP. And the fact is, the USA is not officially even in a recession and if we will be, it will be mild
your right, it does always recover. and weve done pretty well. But the way they "fix" it, is by lowering interest rates. Every time, they just keep lowering them. Int the 20's, and in the 70s. The dollar is constantly losing value, but you dont notice. Eventually we wont have ANY value on the world market. We cant keep "fixing" in. We need to look at the long term.
Well, the Great depression recovered from WW2. I can't imagine we undergoing anything as bad as a great depression since we are a world economy now and China and India are in a long term growth cycle. Nevertheless, i fear us becoming another Japan and the 10 year long recession.
I just love how the Euro nuts and liberals are predicting massive economic collapse and this fantastic and dramatic economic freefall in the USA. The BBC and CNN must show and tell what the rest of the world wants to hear, although it may be biased and lack credibility. It really is laughable. The fact remains, the American economy is still chugging along. The people around me and myself, life has not changed for the worse. Things are off economically, but they could be worse. We always recover.
I have a hard time believing that the US economy can remain strong, while gutting our manufacturing base in return for a "service" economy.
The reason - Because service jobs seem to be easily and quickly moved to other markets, and because service job wages are on the etremes (office cleaners & CPAs), this creates discontent w/ inevitable econ (and of course, social) consequences. Also, inevitable rising oil will obliterate cheap prices of imports. Non-diverse economies could = ruin.
To crock703: The USA economy actually thrives on debt believe it or not. it's what makes the wheels go round and round. Banks give out loans, credit, etc in exchange for jacked interest rates. You have to understand that the United States is an econom,ic colonialist that is exported to the rest of the world. Yes jobs are outsourced but under an American name and corporation where the profits come reeling back home. Where you see Microsoft, Starbucks, and Coca-Cola worldwide, that is our power.
I understand the debt/investment free market model.
The problem is that the profits that return to the US go to company shareholders. We don't have a socialist welfare state, & wont have a domestic manufacturing economy, so how exactly are these profits supposed to trickle down to the middle & lower class? Expanded service economy? What about when East EU & Asia can provide the same services cheaper? A decade ago we said we'd be fine, b/c we'd have tech/IT, and auto manuf.. oops, India/China.
To crock703: We are a service based economy. Most highly developed countries are not manufactured based. It's cheaper for American corporations to export jobs to China and India where they can hire labor and workers dirt cheap. I really do not have a straight out answer to give to you, but what makes the American economy tick in my opinion is trade and investment. Believe it or not, American exports are soaring as of late. They key to our economic future is education, and a steady supply chain.
Another problem is the increase in foreign investment/ownership in US companies. Firstly, even less of those dollars see US circulation. Secondly, what is to keep those companies HQed in the US - eventually they'll go where tax incentives are most attractive, esp w/o sentimental US owners.
Overall, the US's wealth will become even more polarized. What will be the inevitable result? Discontent, marginalization, class conflict, loss of civil liberties.. "revolt" or an appeasing welfare state.
to crock703: As I said, the USA profits on consumer debt. Debt is what expands our Capitalistic economy. We are a mixed economy, with things which hurt and help it to balance it out. Corporations will never leave the USA because the amount of substantial tax breaks that they get from the government are too beneficial to them. What I am concerned about is what is draging it down is ENERGY. We have got to find alternative energy if the economy wants to grow. It is the lifeblood and motor of it all
I'm not engaging in a long debate. But quickly, here's why you're wrong.
1. The world ISN'T flat. China has most of our manuf infrastructure, the State can refuse to resell it to the US if it wanted to. Like as trade war leverage, insurance against real war, etc
2. Foreign ownership - Companies will leave the US as soon these developing nations have the infrastructure and a better tax offer, at the demand of their shareholders.
3. Energy & the supply chain - No alternative energy (baring cold fusion or something equally incredible) will replace oil. Biofuels will have to compete w/ food. Solar/Wind is not 24/7 & no serious storing ability. The cheap imports that satisfy our non-wealthy, will be priced out. We'll either have domestic class warfare (which means strikes & other things that make investors worry), or have to weaken our investing power by taxing the rich to appease the poor (& how long will it last.)
4. Education - India is a great example of how education can just as easily be used by a developing country to secure the jobs developed countries think will be waiting for them in the future. India and China are hungry and vibrant, and have the cheap bodies to replace us in virtually anything they want in not too long.
The overwhelming problem w/ America thinking that a free market policy will prevent domestic recession/depression is that
A) China is not playing by the same rules (& at the expense of their people's well being)
B) India/Asia have the bodies and hunger to out do us.
C) Energy will crush the global free market dream of niche production & cheap products. Unless something fantastic comes, which it may, but probably not before we have trade and physical wars over oil & other resources first.
Its just a huge gamble assuming that virtually free energy arrive to save us, and that the billions of people outside the US wont have the drive or tools to have the jobs we want. Technology is avail (China makes it, and copyright doesn't slow it down), knowledge & institutions are there, and no trade laws to slow it.
We do get some of Asia brain drain, but that'll reverse when Asia ups human rights and US considers reducing liberties to preserve polarized wealth
A debt heavy market works out great for people at the top of the economic ladder (money moves up.)
But a lot of the poor who provide it are living on borrowed time, and isn't necessarily instigated by their irresponsibility or lack of knowledge, as much as it is the result of below-living wages that hasn't kept up with inflation.
When they default, we bail out the banks, but the poor still have nowhere to live, no credit offered, no living wage.
(contd) they're just slaves. Debt slavery. Their debt is distributed, but its the same thing.
The "economy" looks like its handling things well b/c taxpayer bailouts keep the stock market from registering much of the trouble.
Measuring the economy by Wall Street or the GDP alone is a retarded. If a hurricane hits Florida the GDP will soar there, b/c people have to buy and rebuild everything. Meanwhile their quality of life is probably pretty shit.
But what you don't realise is that the economy has to rebuild. The foregone production of everything that was destroyed far outweighs the "gain" to GDP from restoration.
Your economy is dropping off a cliff, your food and goods and gas prices are rising at a good clip, there are so many guns floating around in your country it makes me sick (ever hear of a child lock people), you let pedofiles (child care workers) raise (abuse) your children, you don't save your money, you spend money you don't have, racking up the old credit cards like morons, you're mostly just debt. slaves is really what I see from up here in good old Canada.
Imagine having to pay to go to the doctor, what kind of a country DOES that to people?????? I hope the big flat screen t.v. was WORTH IT in the end, because believe me, the end is near for your country. US is SO OVER. They stopped selling oil in U.S. dollars, red flag anyone?
To Ilovehollycoms: I don't recall that OPEC has begun selling oil not in US Dollars. But you'd probably believe that reindeer really do can fly if someone told you that too. I think you better start getting a variety of news sources instead of strictly from the BBC, CNN, or Fox.
America and Canada basically in the same basket. You think you're that different? W/o a flag and a border to define the difference it hard to tell. You can find the same superficial differences between Vermont and Texas, Montana and NYC.
Stop shitting on people down here. Those who engineered our current econommy made the debt market - & it happened under the pressue of the Cold War and being the world's super power.
And that bullshit about pedophilia and childcare is just irresonsible and malicious bullshit. Please show a law that allows or abedds it? It seems like you just want to generalize or even lie about another group to inflate your own sense of self-worth.
I'm not a flag-waving "American", at all. But I'm tired of people scape-goating Americans. Power always corrupts. Lets see how China handles the burden.
To crock703: The United States and Canada are heavily unidentifiable economically. It's just that the real power is in Washington and not in Ottawa. They supply us with energy in exchange for our economic activity. NAFTA has reinforced this idea, which might I add, I am not a fan of. In short, the economy always bounces back as it did in during the Depression era. I think we've weathered out the storm quite well recently for having a $13-$14 trillion GDP. Likewise, we've had no negative GDP yet.
To ilovehollycombs: Forgive me for saying this, but I've read your previous comments, and you seem very ignorant on the topic of economics for a 19 year old. Industrialized nations in fact, can and do have negative GDP decay. So much that in the aftermath of 911, the USA experienced a short and mild recession, and before that in 1990-1991, and again in 1983. And the others like the energy crisis of the early 70's. 3rd world countries typically have higher GDP growth than developed countries.
That comment wasn't about how econ independent Canada is - just a pointless responce to people scape-goating the US and embracing bullshit national identity.
Since you brought it up though, I don't really trust that there is any real planning of or grasp on the economy. We're working on a faith currency in a word of emerging markets and declining resources, while we're throwing our moral authority out the window. To top it off, we've stopped making things - what happens if we ever NEED to?
To crock703: You've forgotten something important though. China stands to loose too. They have a poor population that lives on less than $2 a day. That means they'll have to export to rich countries like the USA where people have a disposable income to keep buying up their stuff. We we fall, then they all lose. Emerging markets can only grow unless they are supported by foreign markets.
And when China has exploited the fact that US trade policy is driven by corporate interests & a free market philosophy, while theirs is centrally controlled, and when production costs level out between the two nations.. what will happen?
why are people complaining about recession? once the economy is absolute shit, that's when you invest. people like to spend money they don't have because they are stupid jackoffs.
I havnt paid a cent of interest on my credit cards in 10 years. If i cant pay for it when the bill arrives i dont buy it...I'm not giving any money (interest) to those credit card crooks like i did when i was young...If you dont have the discipline to do that, you should cut your cards, cause they are just gonna dig your financial hole...
It's incredible man... I work in the mexican airport and dollar is falling down it was 10 to 1 now it's 9 to 1! while Euro is growing about 5 cents a day! it's 18 to 1.. Yikes! a couple of months ago was about 15 to 1.
hate to be an american right now!!!america goes down and blames it on global ecomics, look the fuck how yas spend your money!!! blame your politians that all ya dumb fucks elect, wars not cheap, simple, go to your local truck stop and eat out your fustration
Yes this deserves another comment because I always borrowed because my earnings have been going down in real value.Yes longer hours and being treated with utter contempt by my employers!Money makes money and this situation has been engineered by people who are now pulling up the drawbridge!Print yourself out of this one because we have had enough of the BS!
The market is inflated with prices created by a diminishing dollar and an overspent labor force
Labor has to exist to power the machine(work and retail spending), so either the markets(through credit relief) or the dollar itself must fall to correct the situation.
Most likely the fed will just dump imaginary dollars into the economy.(as Agent Smith(Matrix) said" to indefinitely delay the inevitable"
Welcome to the jungle baby!They have been gambling with our futures for decades and that big old bubble is going to burst this time!Boom Bust Boom Bust. Its like riding a rollercoaster!I dont think they will be able to print enough monopoly money this time! Im coming over to live in a tent on the Woodstock site! Anybody coming?
Get rid of the Fed, vote Ron Paul. Change this stupid foreign policy, vote Ron Paul. This "stimulus package" that`s coming is prob. going to stimulate China`s economy more that America`s. First, we`ll borrw the money from China, the people will buy goods...from China...hello, this ain`t workin people. Vote Ron Paul 08!!!
the markets can be manipulated by federally funded groups to change market sentiments. after the next quarter is when the market will really start to bleed.
i would start shorting the market now. if the s&p goes below 400 i would move to all my money into gold and myself into canada. haha
The only way to fix this problem is to stop inflation - Get Back to the Constitution!
Get rid of the FED, get back to Sound Money (gold backed currency) and shut down run away federal government spending. The boom and bust cycle is a result of the run away printing press at the FED, remember the FED is a private bank full of unelected and unaccountable private bankers that hold secret meetings and charge the USA interest on its own money.
The only way to accomplish what you say is with LaRouches "Homeowners and Bank Protection Act" Stop pontificating and get Ron Paul to introduce it into law. LaRouche's latest webcast details the entire solution.
British special interests backed by the ECB's arrogant Trichet, have declared war upon the U.S. economy through tricking the foolish President of the U.S.A., his foolish Speaker of the House, and the foolish Federal Reserve Chairman Ben Bernanke, into cheapening the U.S. dollar, while Trichet et. al. brag
dont be fooled people!!! its all part of the "North American Union" once the economy crashes, the North American Union will be activated, a formation of America, Mexcio, and Canada. Look it up, and also look up the Amero. its all part of the globalist plan for a NEW WORLD ORDER! fight for your country!
just because business interest want the NAU doesn't mean that's what this is all about - don't be so simplistic. NAU may happen, but really NAU and other stuff is about big business regulating society. So instead of focusing on an expression of it (NAU) focus on the source (big business).
Could lower standered of living be part of the answer? WE don't have to have cell phones, cable, 50 inch flat screen TVs, etc. I grew up in an era when we lived within our means. Do not view a credit card as a means of credit.
An economy with over inflated prices (empty calories) and idealism that's driven by "what ever the market will bear" for the rich to profit but with widespread disaster for Americans with below average incomes who then subsidize their low wages with credit cards.
Isn't the greater question - should we actually continue being such massive consumers? Doesn't over consumption lead to global warming? And then, if we agree that consumerism should in fact be reduced, then what becomes of our way of life? Big questions. Why aren't any of the candidates talking about our current situation? Also, could 2.4 trillion spent on an illegitimate invasion be also to blame for our troubles?
Print more money then throw it out the window and hope it falls into some needy hands.
Spend Trillions of dollars to Murder innocent human beings for their oil and refuse to shelter clothe feed educate the poor or regulate health insurance premiums making it affordable to Americans with below average incomes.
Stopping consuming or slowing it down will only lead to lower wages or job losses and reduced profits in the retail sector, which will cause a butterfly effect on the rest of the economy. The key would be to start growing your own vegetables and set up neighbourhood barter programs.
You can not change the past, it is what you do now that changes the future.
tell everyone you know to stop driving, that will cause the a drop in the cost of Oil, which will reduce inflation, that is if OPEC doesn't decide to reduce oil flow to push up the price or maintain high prices.
your not getting the whole picture nightnd07. the market has nothin to do with our consumption or anything like that. Its all part of "north american union" plan. look it up, and the "amero" once the market crashes which it will, america, mexico and canada will become ONE. then a new currency "amero" will be introduced, america will no longer be a country. you need to open your mind!
And consumerism is part of big business manipulating us to by their crap - so it DOES matter. Without consumers they would be nothing. It is NOT a conspiracy really, just powerful interests acting through institutions. But it should still be stopped.
i want to add another thing, the government within a government is deliberetely crashing the economy, they have been doing it for years. slow and under the radar is their plan. dont be fooled by all this Bullshit, what im telling you is fact. look up the "superhighway" that connects from mexico to canada; borderless country, and free market trade. our constitution will mean nothing! 2010! this is when it will happen.
Unions are the blams for companies out sourcing to other countries. Lower the minimum wage to $3 an hour or less and then employers will be able to hire again.
patsaxon 5 months ago
All your food you buy now is the same price but In smaller containers. They are hiding the inflation from us by giving us less. We haven't hit hyperinflation yet then it will cost a days pay for a loaf of bread. Raise your wages all you want but when the dollar falls it's just toilet paper. 47 million on food stamps will cause mass chaos when people go hungry.
leebog31 6 months ago
Wages are not the problem. It's the stimulus packages, bailouts and the quantitative easing by the FEDS. They are destroying the dollar and causing inflation which is the agenda. They're doing a huge government power grab and killing the middle class. When there done we will all be slaves and totally reliant on big government.
leebog31 6 months ago
When you factor in the the cost of living in America , real wages in this country are back to the level of the late 1950's. Essentially you're earning $2.50/hr.
RayAir1 1 year ago
Family working together to accumulate hard assets, one leaves home with a foundation they would never otherwise see!! We do it all the hard way all for selfish reasons. Mine, Mine Mine. This is mine, that is yours and we have to live separate lives and there is no "WE" in Family. Imagine the strength if "WE" can come together?
No matter how unrealistic this may sound, especially after we have evolved to where we are. IT IS an answer and there is no doubt it will work. Imagine the Family security
abanikka 1 year ago
@abanikka Thats a fact.
1965guitarboy 11 months ago
@abanikka Thats a fact. Certain culture who have strong family ties and community do well.
1965guitarboy 11 months ago
Mass indoctrination of common sense and morals at home must begin as it may take so many years. But we have to believe we can achieve this. If we don't try we are guaranteed doom. This needs to be a massive movement. We have to respect and care for one another again and teach our children to NEVER buy ANYTHING you cannot pay cash for. Families need to work as teams to accumulate assets one at a time. Mom, Dad, Brother,Sister ALL working for Brothers home. How long to save that? 3-4 yrs?
abanikka 1 year ago
Credit is the tool the elite are using to destroy us and it started in 1913 with the inception of the federal reserve.
ALL kids MUST stay home, work hard and save their money until they can pay cash for their homes and first car. Sounds impossible? Look where we are and where we are going? By continuing to conform with an elite system we will die!!! Refusing this system will be the end for the elite!! Their profits are always on the backs of the peasantry. We need a moral revolution and change.
abanikka 1 year ago
IT'S TIME!!!!!! IT'S TIME FOR THE PEOPLE TO LOOK OUT FOR THEMSELVES!! I have an idea I will gradually share with all and I think it IS the answer for the people and the END for the greedy. It involves absolutely NO politics whatsoever. We need to take this country back from within. Our own personal everyday actions, morals values, routines can disable ALL politics and elite control as we know it. It starts at home and reverting back to basic common sense. ALL credit MUST be refused,eliminated.
abanikka 1 year ago
@abanikka VERRRYTRUE! Many more of us will be living in the streets and eating stolen bread, but we must do what we must. Some of us will go to prison just so that we have some place to sleep and food. How stubborn will the poyticians be regarding necessities? I don't know. You tell me...
geehuckwow 1 year ago
Losing a job or home can happen to anyone, but it's not the end of the world. (3) Mother of two discovers Work-From-Home secret and is now able to support her family. MorningNews7 com
OutsourceNews 1 year ago 4
@OutsourceNews For many it isn't. For some, it even leads to better situations. For many, they get killed or only stabbed and their shoes stolen. Some get thrown out of town. In St Petersburg they don't allow you to sleep in a park daytime or nighttime. Shelters are impossible for many because of the hassles from crackheads. One mother of two (above) has very little effect on the masses. If everyone was in her business, they'd all be out of business real quick. Can't give up, but it's tough.
geehuckwow 1 year ago
Much of the economic demise is due to the relationship between low wages and land/rent/food costs. Regardless of wage rates, home rental costs, property taxes, and food costs can and will raise to overcome them, when the politicians are purchased by Big Biz (including banks)- because their bizniz is poverty. Poverty=Profit. The trick for them now, is "How can we steal from people if they don't have money?" Answer: "Jail them, make them work, tax the free few that still have a little savings."
geehuckwow 1 year ago
@geehuckwow Don't forget!!! We better keep a very close eye on S.S. They'll get what ever is there IF there is really anything left to get. If this country falls the elite would have already been busy changing their dollars over into more secure instruments, have their travel plans ready to abandon ship with the peoples livelihood.
abanikka 1 year ago
It's good to see that folks are finally getting it. We have elected officials preaching govt. incompetence, and the evils of govt yet they work for the govt making 100K while their constituents are scraping by.
The answer to this corruption is that every elected official should earn the average of whatever constituency they represent.
For example, there is no way a chicago alderman should make 100K a year yet represents the poorest neighborhood in the city.
This must stop.
ckj377 1 year ago
there is also the foolishness of easy credit and consumerism
dance wage slaves, dance!
greenhell666 1 year ago
What ever happened to being called a "US Citizen?" Now we are just merely "Consumers."
ImoenOfTelengard 1 year ago 2
@ImoenOfTelengard that's capitalism my friend , everything is designed primarily to make cash hence your a consumer not a citizen.
freedan33 1 year ago
Any economist who tries to preach that the Recession has come to an end is full of shit.... All of this government spending which has come to thirteen trillion dollars is setting America up for a double dip recession for 2010-11. Every American now owes roughly 39,000 dollars to erase the thirteen trillion dollars. 2009 was a temporary recovery year due to bailouts.
vantuba25 1 year ago
@vantuba25 ahh.. It's now 40,000+ according to the US debt clock today... Something cool to see... Type in US debt clock it shows a bunch of information..
pro1tein 1 year ago
use common sense when listening to people...low wages can not cause a recession(reasonably speaking)... the unions are about 12% of the workforce so how could cutting this cause a recession?...
jonshultz 2 years ago
Probably because Unions are not the only labor force...Union wages overall are not down too much, but the average worker is making less money...Even if you are making the same today that you made 5 years ago, you are making less money. Cost of living has gone up almost 20-50 percent depending on where you live.
Pbizzle23 2 years ago
If I make 30,000 a year 3 years ago and could barely afford gas, food, amenities, etc. then what happens when gas doubles, food cost rises 30 percent, and health care cost go up as well. I choose not to go shopping. When you starve the middle class, you starve the market for every employer. When wages are higher, you put people in a different tax bracket, thus, the workers who might not have paid taxes at all that were making 30,000 would pay taxes if they were being paid 50,000.
Pbizzle23 2 years ago
Listen to your Presidents and follow the history trail. Every president that opposed big business and or credit lending was assainated. Lincoln, JFK, yes the black thing was just thrown up as an excuse or a front. There were bigger things going on behind the scenes, stop listening to news and learn what behind it!
Katelnine 2 years ago
bullshit
jonshultz 2 years ago
I wish us people could come together and do something without the government i'd say the largest donation of garage junk to pay of some debt and be money flowing instead of rotting in our back yards. metals mostly
jbras420 2 years ago
There's no way that things will get better due to The Unemployment Rate. It's over. The Recession has won. There's nothing else Obama can do.
GreatAuntCayce 2 years ago
illegal immigrants don't have any responsability in this crisis. the reason of this fic crisis are the people who want to have a nice standar of living, but they don't make enough so they get credit for staff they cannot afford.
jeanqbxx 2 years ago
This has been flagged as spam show
Nice try. Keep it up check out esteembpo + com for social media marketing. gfhfh
NickolasDarling 2 years ago
Most of Chinas 3trillion Dollars of Currency Reserves are caught up in the US Market,China has Little Choice but to BUY More Government Bonds,Too keep up the Value of the Dollar..Chinas hoping for a Quick Recovery!
triumphelf 2 years ago
Chinas currency is a fixed rate compared to the usa. its value remains constant with the usa, 1 usd = 8.08 yen
GlobeNinja 2 years ago
One of the reasons wages are kept low is immigration, especially illegal immigration. Interestingly, most of the foreclosures in my area were by immigrants.
Unions aren't the answer, because their leaders are stupid about markets. A "living" wage for a clerk at a donut shop will make a cup of coffee cost over $5. To afford this, customers would either not buy or demand higher wages from their employer. It is inflationary. The best way to get a decent wage is to acquire a marketable skill.
yogeedogee 2 years ago
Wouldn't stopping immigration increase the price of the cup of coffee..To $5. I don't know, but I don't think immigrants had a lot to do with creating predatory lending practices, and derivatives, and giving themselves huge commissions for selling those debts. Its easy to make immigrants - illegal or not, scapegoats, but to do that misses a deeper point - that big business has moved most of their productions to places where they pay 5cents/hr, and give themselves million$ in bonuses.
mnoorist 2 years ago
mnoorist, illegal immigrants were allowed to get credit cards and many bought homes. They were easily talked into the American Dream, so selling them adjustable rate mortgages was a piece of cake. I've been through a few recessions, so I knew that there was going to be a bust. New legal Immigrants and illegal immigrants were unaware of this danger. This is why immigrants were a big part of the problem. In most New England cities, immigrants were the #1 foreclosed group.
yogeedogee 2 years ago
I am so sick of pseudo-leftists who pose as "anti-capitalists" and then just blabber on about unions and neoliberalism. If these people would ever pick up a book by a serious Marxist thinker they would realize pretty quick that unions do not do jack shit, and that no radical working class has ever wanted anything to do with unions.
truefakeness 3 years ago 3
This has been flagged as spam show
The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
MEXICO is Number 1 Crime & Terror in the USA.
jtx1bx 3 years ago
This has been flagged as spam show
Don't Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk
homesrustosave 3 years ago
An illegal strike.
bertly71 3 years ago
The imf, world bank & other central banks just raped the world & now we're their sex slaves tied up in the basement.
mycomlocal 3 years ago 2
Are you going to Camp this Year? lol
louis12346 2 years ago
no... i'm off on a euro 09 tour! run with the bulls, hit the autobahn, smoke a fat one on a pyramid and go off in ibiza 4 the end of summer parties. fuck the world I'm selling everything & i'm outa here!
mycomlocal 2 years ago
You will first have to enroll in Obamas Mandatory volunteer Job service civilian service,real Patriot Act that brings out the patriot in all of us. We propose universal civilian service for every young American. Under this plan, All Americans will be asked to serve their country by going through three months of basic training,enlist them for three months of civilian service. biochemical, nuclear or conventional attack
louis12346 2 years ago
Don't forget the millions and millions of jobs that were taken away from American's and shipped overseas.
This is just an opinion, but if things don't get better, if people lose it all, I see people "taking up the rifle" against those they deem responsible for this catastrophe. Personally, I would not shed a tear.
RayAir1 3 years ago 3
think about this usa is wanting war with iran for israel, yet israel has more than 200 nucular weapons ,and is in violation of at least 63 un regulations , the world banks are the ones who sponser war , are you paying for this war in advance ???rich mans war poor mans blood, why are bankers still getting pay rises ??wake up
oo446611 3 years ago
So, situation normal then.
unytcommsys 3 years ago
The Guardian errs a bit in that last sentence, of coure. Almost all of the "conditions" mentioned in connection with the bailout have no teeth whatsoever, no enforcement mechanism, no real penalities. They are more properly termed "suggestions," or rather, "PR exercises that we hope our Wall Street lords will deign to at least pretend to follow for a short time, until the heat is off."
oo446611 3 years ago
Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government's cash has been poured in on the condition that excessive executive pay would be curbed.
oo446611 3 years ago
Financial workers at Wall Streets top banks are to receive pay deals worth more than $70bn £40bn a substantial proportion of which is expected to be paid in discretionary bonuses for their work so far this year despite plunging the global financial system into its worst crisis since the 1929 stock market crash the Guardian has learned
oo446611 3 years ago
search:
"businesspundit the subprime mortgage primer"
;)
pathoplastic 3 years ago
Hmm...maybe you shouldn't have elected a moron president.
!!!!!TWICE!!!!!
I say it's your own goddamn fault.
instaman86 3 years ago
I don't think he won the elections. For sure the first one was stolen. I agree, Bush sure is a dumb ass.
RayAir1 3 years ago
6 die in family murder-suicide in upscale LA home — An unemployed man with an advanced finance degree who was despondent over his own financial problems shot and killed his wife, three children, mother-in-law and then himself in an upscale home in a gated community, police said Monday.
o10ciano 3 years ago
Socialism and the Welfare State is coming back to the U.S. bigtime. No bailout should be given to Wall Street. Let the scums suffer the consequences.
intrepidlikes 3 years ago 3
Socialist...org
rayva1 3 years ago
There is a website on socialism.
rayva1 3 years ago
Recessions are caused by the central bank pure and simple. The Austrian theory of the business cycle explains it perfectly. All these other problems, credit card debt, off shoring of jobs, housing bubble etc are merely symptoms of central bank expansion of money and credit. This video is way off base.
NMCB3 3 years ago
Well I guess we can all enjoy our service based economy.
moviedude111 3 years ago
Never mind Lehman Brothers! The US and the UK should file for bankruptcy! The comment below is bang on. All the figures are fiddled and we have people behind closed doors making decisions in their own (pocket lining) interests! The majority are offered low wages and the debt trap! Its NO WONDER that it has all come to this!!
Joyriser 3 years ago
I just laugh at these "economists" that seem to be constantly debating whether we're in recession or not. Have they looked out their window lately?
The real economy is down by at least 15-25% since the mid 90's. The media has done a horrendous in covering it. None of their reporting is cohesive or synthesized. We're told "GDP" goes up, while debt and bankruptcies go up. "CPI" is tame, while on the next page, commodities are soaring.
All the govt numbers are a scam. Don't believe any of it.
jb2134 3 years ago 3
Strange so if you lower the wages the profit short term rises but long term nobody can buy your stuff anymore. Isn't that odd ;)
Keeping the politics out of it here..the markets lately been doing some weird things... or actually they been doing what any sane market would to. Instead of what a hyper inflated market would do.
Funny that!
masticina 3 years ago 4
You're democracy is flawed and you should start voteswapping to get your interests to a higher level. Democracy throughout all western nations is flawed and out of date, why should you go to war to bring a flawed systems to other nations?
The real cause is democracy is dead and there's no 'political economy ' anymore but real capitalism and you know what happens, midd class will go away, and 5% rich and the rest of people poor
diopoulos 3 years ago 3
Looks like its back to Ramen noodles and staying in on the weekend.
modernlifechews 3 years ago 3
Watch Ramen noodles Stocks skyrocket in the next 12 months... arent those made in China?? I´m sick of this shit big time....
atlantasbest 3 years ago 3
More damn lies. The recession is really fueled by hyperinflation and the US deficit. Homeowners in great neighborhoods ought to collude to say screw you non-homeowners because this is just that kind of class division. It makes no sense to lower home prices in a good area for the homeless. They should be getting a lowered price home on the outskirts. The price of everything has been hyperraised since 1998 and continues and that is the cause. America the dishonest
supaniceguy 3 years ago
If you guys think things are bad now, you haven't been around. I was in rural China in January--imagine riding bikes to get your groceries because you can't afford a car. For entertainment, people played chess or pingpong; they don't have PS3s and Wiis. And starbucks is about 50 YUAN for a cup of coffee, when the average monthly salary is 600 YUAN or less. China as the new economic darling of the world, isn't as spectacular as everybody makes it out to be. If the USA falls, so does China.
YogaNate79 3 years ago 6
@YogaNate79 The United States will fall, mostly because of all the jobs it exported to China among other poverty stricken foreign countries. How ironic huh? Lol
MstrMnd420 1 year ago
it boggles my mind every time a libertarian proposes ron paul as the solution to our problems and as some say, "the last hope for america." i thought libertarians were all about personal responsibility, not putting faith in some dubious politician. why doesn't anyone talk about what actions we can take as individuals? that's what's i'm interseted in, not the fucking side-show presidential popularity contest.
iluminatr462 3 years ago 2
Ron Paul is different from the other politicians in that he does stress personal responsibility. He is telling us the truth about the economy and how our government spending is out of control. He's the only one that openly declares we're bankrupt. If you don't get it nor take person responsibility after listening to his message, then no one can save you.
dabruin2 3 years ago 3
Very well said, thank you.
moniequa 3 years ago
The US is fuked. You dam fuking fat ugly gluttens Bozos.
ZaphedBeebleBrox 3 years ago
Why are you so mad at us?
moniequa 3 years ago 2
what about those people who have just purchased a house, and will be left with a life time of debt, then house prices drop, there F*&ked!!!!
sparkynight73 3 years ago
Well let the punishment fit the crime. I think it is hilarious that those suckers become slaves to their stupidity.
moniequa 3 years ago
Those people who have just puchased a house,
and will be left with a life time debt are
going to clean the shoes, cars and gardens
of those who sold them once the houses, probably for the rest of their lifes...
truthspeaker2000 3 years ago
i hope that the fucking market crashes so we can buy a house
cuttheraceistheads 3 years ago
u know china has more than i cant remembr the EXACT amount, but tehy have more than 20 trillion american dollars in reserve. lol.
i hope they dont sell it on the black market,. it would be bad for china...but if they ever wanted to blackmail them..it could work
ilovehollycombs 3 years ago
I don't know if its 20 trillion, it's a lot though. Its a centrally planned thing where if you exchange money in China, any $20 bills or higher are kept by the bank.
They keep the dollars for reserves, but it could also be used strategically to break the dollar, if they wanted. They'd do it by selling the dollars on the open market slightly below the going value, so that investment in US dollars from US lenders would stop. It could be used before war to slow US funding/production, etc
crock703 3 years ago 2
Does anyone know of a good recession proof job?
NicePeopleGive 3 years ago
I serve food to people for tips. I'm so happy that I put myself into massive debt by getting a college education, or I wouldn't have such a great job! Did I mention that I HATE George Bush and I blame him personally for my poverty? Maybe I'm being unfair, but hey, if you can't take the heat stay out of the kitchen, ne?
raberidoom 3 years ago 6
@raberidoom Hence, the reason your waiting tables. If you are so blind as to think that W is responsible for your situation. I think your going to have a long career either serving tables or washing them. Now go get my F'n Hamburger.
superdoobo 1 year ago
Department of corrections
pdsavage 3 years ago
The economic record of the last 17 years is remarkable, particularly when viewed against the backdrop of the 1970s. The USA has experienced two of the longest and strongest expansions in our history back to back. They have been interrupted only by a shallow eight-month downturn in 1990-91. And therefore the American economy is resilient. The Euro nuts are talking of the collapse as it did in 1929. The American economy is resilient as there are always high and lows in economic cycles. It's normal
YogaNate79 3 years ago
Nate, you mean bubbles? ;)
vancouverbluz 3 years ago
To vancouverbluz: The economy always recovers, and the American economy is a true testament to that. The USA has been the largest national economy since 1890 and came back from the Crash of 1929, the 1970's slowdown and energy crisis, the early 90's downturn, the recession of 2001-2002, as it will this one too. I think we;ve done pretty well under the circumstances for having a $14-$15 trillion GDP. And the fact is, the USA is not officially even in a recession and if we will be, it will be mild
YogaNate79 3 years ago
your right, it does always recover. and weve done pretty well. But the way they "fix" it, is by lowering interest rates. Every time, they just keep lowering them. Int the 20's, and in the 70s. The dollar is constantly losing value, but you dont notice. Eventually we wont have ANY value on the world market. We cant keep "fixing" in. We need to look at the long term.
Look out: 1929 is coming all over again.
JDillaYO 3 years ago
Well, the Great depression recovered from WW2. I can't imagine we undergoing anything as bad as a great depression since we are a world economy now and China and India are in a long term growth cycle. Nevertheless, i fear us becoming another Japan and the 10 year long recession.
vancouverbluz 3 years ago
I just love how the Euro nuts and liberals are predicting massive economic collapse and this fantastic and dramatic economic freefall in the USA. The BBC and CNN must show and tell what the rest of the world wants to hear, although it may be biased and lack credibility. It really is laughable. The fact remains, the American economy is still chugging along. The people around me and myself, life has not changed for the worse. Things are off economically, but they could be worse. We always recover.
YogaNate79 3 years ago
I have a hard time believing that the US economy can remain strong, while gutting our manufacturing base in return for a "service" economy.
The reason - Because service jobs seem to be easily and quickly moved to other markets, and because service job wages are on the etremes (office cleaners & CPAs), this creates discontent w/ inevitable econ (and of course, social) consequences. Also, inevitable rising oil will obliterate cheap prices of imports. Non-diverse economies could = ruin.
crock703 3 years ago
To crock703: The USA economy actually thrives on debt believe it or not. it's what makes the wheels go round and round. Banks give out loans, credit, etc in exchange for jacked interest rates. You have to understand that the United States is an econom,ic colonialist that is exported to the rest of the world. Yes jobs are outsourced but under an American name and corporation where the profits come reeling back home. Where you see Microsoft, Starbucks, and Coca-Cola worldwide, that is our power.
YogaNate79 3 years ago
I understand the debt/investment free market model.
The problem is that the profits that return to the US go to company shareholders. We don't have a socialist welfare state, & wont have a domestic manufacturing economy, so how exactly are these profits supposed to trickle down to the middle & lower class? Expanded service economy? What about when East EU & Asia can provide the same services cheaper? A decade ago we said we'd be fine, b/c we'd have tech/IT, and auto manuf.. oops, India/China.
crock703 3 years ago
To crock703: We are a service based economy. Most highly developed countries are not manufactured based. It's cheaper for American corporations to export jobs to China and India where they can hire labor and workers dirt cheap. I really do not have a straight out answer to give to you, but what makes the American economy tick in my opinion is trade and investment. Believe it or not, American exports are soaring as of late. They key to our economic future is education, and a steady supply chain.
YogaNate79 3 years ago
Another problem is the increase in foreign investment/ownership in US companies. Firstly, even less of those dollars see US circulation. Secondly, what is to keep those companies HQed in the US - eventually they'll go where tax incentives are most attractive, esp w/o sentimental US owners.
Overall, the US's wealth will become even more polarized. What will be the inevitable result? Discontent, marginalization, class conflict, loss of civil liberties.. "revolt" or an appeasing welfare state.
crock703 3 years ago
to crock703: As I said, the USA profits on consumer debt. Debt is what expands our Capitalistic economy. We are a mixed economy, with things which hurt and help it to balance it out. Corporations will never leave the USA because the amount of substantial tax breaks that they get from the government are too beneficial to them. What I am concerned about is what is draging it down is ENERGY. We have got to find alternative energy if the economy wants to grow. It is the lifeblood and motor of it all
YogaNate79 3 years ago
I'm not engaging in a long debate. But quickly, here's why you're wrong.
1. The world ISN'T flat. China has most of our manuf infrastructure, the State can refuse to resell it to the US if it wanted to. Like as trade war leverage, insurance against real war, etc
2. Foreign ownership - Companies will leave the US as soon these developing nations have the infrastructure and a better tax offer, at the demand of their shareholders.
crock703 3 years ago
3. Energy & the supply chain - No alternative energy (baring cold fusion or something equally incredible) will replace oil. Biofuels will have to compete w/ food. Solar/Wind is not 24/7 & no serious storing ability. The cheap imports that satisfy our non-wealthy, will be priced out. We'll either have domestic class warfare (which means strikes & other things that make investors worry), or have to weaken our investing power by taxing the rich to appease the poor (& how long will it last.)
crock703 3 years ago
4. Education - India is a great example of how education can just as easily be used by a developing country to secure the jobs developed countries think will be waiting for them in the future. India and China are hungry and vibrant, and have the cheap bodies to replace us in virtually anything they want in not too long.
crock703 3 years ago
The overwhelming problem w/ America thinking that a free market policy will prevent domestic recession/depression is that
A) China is not playing by the same rules (& at the expense of their people's well being)
B) India/Asia have the bodies and hunger to out do us.
C) Energy will crush the global free market dream of niche production & cheap products. Unless something fantastic comes, which it may, but probably not before we have trade and physical wars over oil & other resources first.
crock703 3 years ago
Its just a huge gamble assuming that virtually free energy arrive to save us, and that the billions of people outside the US wont have the drive or tools to have the jobs we want. Technology is avail (China makes it, and copyright doesn't slow it down), knowledge & institutions are there, and no trade laws to slow it.
We do get some of Asia brain drain, but that'll reverse when Asia ups human rights and US considers reducing liberties to preserve polarized wealth
crock703 3 years ago
I forgot to include this before..
A debt heavy market works out great for people at the top of the economic ladder (money moves up.)
But a lot of the poor who provide it are living on borrowed time, and isn't necessarily instigated by their irresponsibility or lack of knowledge, as much as it is the result of below-living wages that hasn't kept up with inflation.
When they default, we bail out the banks, but the poor still have nowhere to live, no credit offered, no living wage.
crock703 3 years ago
(contd) they're just slaves. Debt slavery. Their debt is distributed, but its the same thing.
The "economy" looks like its handling things well b/c taxpayer bailouts keep the stock market from registering much of the trouble.
Measuring the economy by Wall Street or the GDP alone is a retarded. If a hurricane hits Florida the GDP will soar there, b/c people have to buy and rebuild everything. Meanwhile their quality of life is probably pretty shit.
People
crock703 3 years ago
But what you don't realise is that the economy has to rebuild. The foregone production of everything that was destroyed far outweighs the "gain" to GDP from restoration.
freedomtoprosperity 3 years ago
I don't understand what you mean to say
crock703 3 years ago
Your economy is dropping off a cliff, your food and goods and gas prices are rising at a good clip, there are so many guns floating around in your country it makes me sick (ever hear of a child lock people), you let pedofiles (child care workers) raise (abuse) your children, you don't save your money, you spend money you don't have, racking up the old credit cards like morons, you're mostly just debt. slaves is really what I see from up here in good old Canada.
ilovehollycombs 3 years ago
Imagine having to pay to go to the doctor, what kind of a country DOES that to people?????? I hope the big flat screen t.v. was WORTH IT in the end, because believe me, the end is near for your country. US is SO OVER. They stopped selling oil in U.S. dollars, red flag anyone?
ilovehollycombs 3 years ago
To Ilovehollycoms: I don't recall that OPEC has begun selling oil not in US Dollars. But you'd probably believe that reindeer really do can fly if someone told you that too. I think you better start getting a variety of news sources instead of strictly from the BBC, CNN, or Fox.
YogaNate79 3 years ago
America and Canada basically in the same basket. You think you're that different? W/o a flag and a border to define the difference it hard to tell. You can find the same superficial differences between Vermont and Texas, Montana and NYC.
Stop shitting on people down here. Those who engineered our current econommy made the debt market - & it happened under the pressue of the Cold War and being the world's super power.
crock703 3 years ago
And that bullshit about pedophilia and childcare is just irresonsible and malicious bullshit. Please show a law that allows or abedds it? It seems like you just want to generalize or even lie about another group to inflate your own sense of self-worth.
I'm not a flag-waving "American", at all. But I'm tired of people scape-goating Americans. Power always corrupts. Lets see how China handles the burden.
crock703 3 years ago
To crock703: The United States and Canada are heavily unidentifiable economically. It's just that the real power is in Washington and not in Ottawa. They supply us with energy in exchange for our economic activity. NAFTA has reinforced this idea, which might I add, I am not a fan of. In short, the economy always bounces back as it did in during the Depression era. I think we've weathered out the storm quite well recently for having a $13-$14 trillion GDP. Likewise, we've had no negative GDP yet.
YogaNate79 3 years ago
lmao hardly anyone has negative gdp... unless ur like a 3rd world country. so dont be too proud of that. just saying
ilovehollycombs 3 years ago
To ilovehollycombs: Forgive me for saying this, but I've read your previous comments, and you seem very ignorant on the topic of economics for a 19 year old. Industrialized nations in fact, can and do have negative GDP decay. So much that in the aftermath of 911, the USA experienced a short and mild recession, and before that in 1990-1991, and again in 1983. And the others like the energy crisis of the early 70's. 3rd world countries typically have higher GDP growth than developed countries.
YogaNate79 3 years ago
That comment wasn't about how econ independent Canada is - just a pointless responce to people scape-goating the US and embracing bullshit national identity.
Since you brought it up though, I don't really trust that there is any real planning of or grasp on the economy. We're working on a faith currency in a word of emerging markets and declining resources, while we're throwing our moral authority out the window. To top it off, we've stopped making things - what happens if we ever NEED to?
crock703 3 years ago
To crock703: You've forgotten something important though. China stands to loose too. They have a poor population that lives on less than $2 a day. That means they'll have to export to rich countries like the USA where people have a disposable income to keep buying up their stuff. We we fall, then they all lose. Emerging markets can only grow unless they are supported by foreign markets.
YogaNate79 3 years ago
Clearly.
And when China has exploited the fact that US trade policy is driven by corporate interests & a free market philosophy, while theirs is centrally controlled, and when production costs level out between the two nations.. what will happen?
crock703 3 years ago
haha fuvking yanks your broke dollar is worth nothing
master25 3 years ago
who came up with the euro
1888junkteam 3 years ago
who came up with the euro
1888junkteam 3 years ago
who came up with the euro
1888junkteam 3 years ago
who came up with the euro
1888junkteam 3 years ago
Stop eating food and buy TOFU
BetterThanUForSure 3 years ago
Stop eating meat and eat TOFU
BetterThanUForSure 3 years ago
I am sick of getting ripped of are you join the Last Union.
richardbolin 3 years ago
We are not in
a recession.
This is just a "rough patch"
as Dick Cheney has said just recently.
dave98503 3 years ago
Right, cause cheney would come out and tell you we're in a recession under his watch. You stupid ass.
falcon2154 3 years ago
--> This is just a "rough patch"
HAHAHAHA! Are you freaking serious?
rseveran 3 years ago 2
Bush has screwed America in every possible way over the past 8 years. This is just the final nail in the coffin.
He's made America the crack addict of the modern world. The OD is coming.
Atleast when China and others own more than 50% of the US your masters will have a face.
Paetaor 3 years ago
why are people complaining about recession? once the economy is absolute shit, that's when you invest. people like to spend money they don't have because they are stupid jackoffs.
bucko60 3 years ago
I havnt paid a cent of interest on my credit cards in 10 years. If i cant pay for it when the bill arrives i dont buy it...I'm not giving any money (interest) to those credit card crooks like i did when i was young...If you dont have the discipline to do that, you should cut your cards, cause they are just gonna dig your financial hole...
WeAreSlaves 3 years ago 3
goodbye american world domination...never thought i'd see it in my lifetime
penfolduk78 3 years ago 3
hahahaha
It's incredible man... I work in the mexican airport and dollar is falling down it was 10 to 1 now it's 9 to 1! while Euro is growing about 5 cents a day! it's 18 to 1.. Yikes! a couple of months ago was about 15 to 1.
adroj182 3 years ago
USE your MASTER CARDS or AMERICAN EXPRESS to pay your debts LMAO!!! PRICELESS!!!
VVTIL 3 years ago
2 declining U.S dolla sucky sucky long time!!! LMAO!!
VVTIL 3 years ago
hate to be an american right now!!!america goes down and blames it on global ecomics, look the fuck how yas spend your money!!! blame your politians that all ya dumb fucks elect, wars not cheap, simple, go to your local truck stop and eat out your fustration
burnerdown1 3 years ago 2
batten down the hatches and kiss your asses goodbye
icantfindanamethis 3 years ago 2
Yes this deserves another comment because I always borrowed because my earnings have been going down in real value.Yes longer hours and being treated with utter contempt by my employers!Money makes money and this situation has been engineered by people who are now pulling up the drawbridge!Print yourself out of this one because we have had enough of the BS!
Joyriser 4 years ago
Finally someone that understands the exact cause and affect!! Thank you once again REAL NEWS!!!
theurbanmedianetwork 4 years ago 2
The market is inflated with prices created by a diminishing dollar and an overspent labor force
Labor has to exist to power the machine(work and retail spending), so either the markets(through credit relief) or the dollar itself must fall to correct the situation.
Most likely the fed will just dump imaginary dollars into the economy.(as Agent Smith(Matrix) said" to indefinitely delay the inevitable"
nwrhino 4 years ago
Welcome to the jungle baby!They have been gambling with our futures for decades and that big old bubble is going to burst this time!Boom Bust Boom Bust. Its like riding a rollercoaster!I dont think they will be able to print enough monopoly money this time! Im coming over to live in a tent on the Woodstock site! Anybody coming?
Joyriser 4 years ago
yup, the collapse of America is coming and then it will spread through out the world! We can Thanks the Bankers for this one! God Bless!
Budvb 4 years ago 4
Get rid of the Fed, vote Ron Paul. Change this stupid foreign policy, vote Ron Paul. This "stimulus package" that`s coming is prob. going to stimulate China`s economy more that America`s. First, we`ll borrw the money from China, the people will buy goods...from China...hello, this ain`t workin people. Vote Ron Paul 08!!!
pilgrim79 4 years ago
Good answers but I think that it is a train that allready has lost its breaks and can not stop. Watch the markets this week and we will see.
Hopefl1 4 years ago 2
the markets can be manipulated by federally funded groups to change market sentiments. after the next quarter is when the market will really start to bleed.
i would start shorting the market now. if the s&p goes below 400 i would move to all my money into gold and myself into canada. haha
bsalus01 4 years ago
thats 400 or the oexa, 800 for the inx.
bsalus01 4 years ago
raise the wages = less debt
jaekent 4 years ago 2
The only way to fix this problem is to stop inflation - Get Back to the Constitution!
Get rid of the FED, get back to Sound Money (gold backed currency) and shut down run away federal government spending. The boom and bust cycle is a result of the run away printing press at the FED, remember the FED is a private bank full of unelected and unaccountable private bankers that hold secret meetings and charge the USA interest on its own money.
Vote - Ron Paul for President 2008
colemans78 4 years ago
The only way to accomplish what you say is with LaRouches "Homeowners and Bank Protection Act" Stop pontificating and get Ron Paul to introduce it into law. LaRouche's latest webcast details the entire solution.
LaRoucheisright 4 years ago
For immediate circulation, world-wide:
HOW TO DEFEND YOUR DOLLAR
by Lyndon H. LaRouche, Jr.
January 25, 2008
British special interests backed by the ECB's arrogant Trichet, have declared war upon the U.S. economy through tricking the foolish President of the U.S.A., his foolish Speaker of the House, and the foolish Federal Reserve Chairman Ben Bernanke, into cheapening the U.S. dollar, while Trichet et. al. brag
LaRoucheisright 4 years ago
dont be fooled people!!! its all part of the "North American Union" once the economy crashes, the North American Union will be activated, a formation of America, Mexcio, and Canada. Look it up, and also look up the Amero. its all part of the globalist plan for a NEW WORLD ORDER! fight for your country!
JUKIO01 4 years ago
just because business interest want the NAU doesn't mean that's what this is all about - don't be so simplistic. NAU may happen, but really NAU and other stuff is about big business regulating society. So instead of focusing on an expression of it (NAU) focus on the source (big business).
COAnews 4 years ago
america will be distroyed though
JUKIO01 4 years ago 5
read about Calvin Coolidge's presidency. You'll see a lot of similarities between Coolidge and Bush.
oldhacks 4 years ago
If you want to know what to do, listen to Lyndon LaRouche.
LaRoucheisright 4 years ago
screw LaRouche. Get Gravel.
oldhacks 4 years ago
...and $600 will fix all this for people?
upconstruct 4 years ago
Could lower standered of living be part of the answer? WE don't have to have cell phones, cable, 50 inch flat screen TVs, etc. I grew up in an era when we lived within our means. Do not view a credit card as a means of credit.
oilhammer04 4 years ago 2
thank you
saad1505 4 years ago
I wonder how much of an impact Wal-Mart has on this low wages problem.
theestranger 4 years ago 2
Thanks for posting this. John Edwards save this country from the greed of the big corporations and credit card companies.
terraceterra 4 years ago
Recession, the republican trait
An economy with over inflated prices (empty calories) and idealism that's driven by "what ever the market will bear" for the rich to profit but with widespread disaster for Americans with below average incomes who then subsidize their low wages with credit cards.
gwbushpos 4 years ago
Well said...
blaziermissy 4 years ago
Isn't the greater question - should we actually continue being such massive consumers? Doesn't over consumption lead to global warming? And then, if we agree that consumerism should in fact be reduced, then what becomes of our way of life? Big questions. Why aren't any of the candidates talking about our current situation? Also, could 2.4 trillion spent on an illegitimate invasion be also to blame for our troubles?
nlightnd07 4 years ago 2
nlightnd07:
Recession, the republican trait
Print more money then throw it out the window and hope it falls into some needy hands.
Spend Trillions of dollars to Murder innocent human beings for their oil and refuse to shelter clothe feed educate the poor or regulate health insurance premiums making it affordable to Americans with below average incomes.
gwbushpos 4 years ago 2
lol....exactly my sentiments!
blaziermissy 4 years ago
blaziermissy:
I only have time to say a quick thank you for your supportive comment because I'm following the advice of 'radiumrx'.
I've started trucking up dirt to my 3rd floor apartment to grow vegetables in my living room. ^_~
gwbushpos 4 years ago
Stopping consuming or slowing it down will only lead to lower wages or job losses and reduced profits in the retail sector, which will cause a butterfly effect on the rest of the economy. The key would be to start growing your own vegetables and set up neighbourhood barter programs.
You can not change the past, it is what you do now that changes the future.
Peace EJ
radiumrx 4 years ago
yup and start up non-profit co-ops and credit unions
nickprogresss 4 years ago
radiumrx:
I've already started trucking up dirt to my 3rd floor apartment to grow vegetables in my living room.
What should I do next?
gwbushpos 4 years ago
tell everyone you know to stop driving, that will cause the a drop in the cost of Oil, which will reduce inflation, that is if OPEC doesn't decide to reduce oil flow to push up the price or maintain high prices.
radiumrx 4 years ago
your not getting the whole picture nightnd07. the market has nothin to do with our consumption or anything like that. Its all part of "north american union" plan. look it up, and the "amero" once the market crashes which it will, america, mexico and canada will become ONE. then a new currency "amero" will be introduced, america will no longer be a country. you need to open your mind!
JUKIO01 4 years ago
And consumerism is part of big business manipulating us to by their crap - so it DOES matter. Without consumers they would be nothing. It is NOT a conspiracy really, just powerful interests acting through institutions. But it should still be stopped.
COAnews 4 years ago
i want to add another thing, the government within a government is deliberetely crashing the economy, they have been doing it for years. slow and under the radar is their plan. dont be fooled by all this Bullshit, what im telling you is fact. look up the "superhighway" that connects from mexico to canada; borderless country, and free market trade. our constitution will mean nothing! 2010! this is when it will happen.
JUKIO01 4 years ago
My understandment about the world changed after seeing "The money Masters" on Google video.
911allo 4 years ago