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Finances / Finanzen » uk.finance » Why the US economy's luck is running out
| Why the US economy's luck is running out [message #377825] |
Do, 06 April 2006 14:04 |
|
As global imbalances grow the cracks start to widen ................
Latest Money Week article by Stephen Roach, global economist at Morgan
Stanley :
http://www.moneyweek.com/file/10595/why-the-us-economys-luck -is-running-out.html
" ......... From Beijing to Dubai, there is a growing undercurrent of
economic anti-Americanism. The irony of it all is truly extraordinary:
The US has the greatest external deficit in the history of the world,
and is now sending increasingly negative signals to two of its most
generous providers of foreign capital - China and the Middle East.
The United States has been extraordinarily lucky to finance its massive
current account deficit on extremely attractive terms. If its lenders
now start to push back, those terms could change quickly - with
adverse consequences for the dollar, real long-term US interest rates,
and overly indebted American consumers. The slope is getting
slipperier, and Washington could care less."
|
|
|
| Re: Why the US economy's luck is running out [message #377829 ] |
Do, 06 April 2006 15:29 |
|
Bush And The GOP Are Bankrupting America!
(5/10/2005) When a family can no longer afford to pay the mortgage on
their home they lose it. When a government can no longer afford to pay it's
debt service it must sell off it's assets or it's currency becomes
worthless.
In America the citizens are the government, so if America goes broke
it is the American people who lose.
Not all the American people will lose if the U.S. government goes
bankrupt because what will happen is a wealth transfer. The very rich will
buy up all the governments assets for pennies on the dollar in a series of
sweetheart deals similar to the RTC S&L bailout deals. The ironic thing is
that our bankrupt government will probably finance these rip-off
transactions. Thus, the vast majority of the American people will lose
twice, and a small group of people will become instant trillionaires.
The U.S. government currently owns around 30% of all the real estate
in America, as well as many priceless treasures, and other intangible
assets. These assets probably have a value of over $100 trillion dollars.
However, in a bankrupt auction sale our government would be lucky to get $10
trillion dollars, and it would probably get a lot less. In fact, what I
suspect will happen is that our government will only get enough money to pay
current interest cost and it will still be left deep in debt and have zero
assets to borrow against.
The Republicans frequently say they want to "starve the beast", and
that is exactly what they have been doing with huge deficit budgets. They
are not doing it for any noble or ideological reasons, as they would have
you believe, but they are doing it for greed. The "beast" is the U.S.
government, and in America the people are the government. Therefore, when
the GOP says they are going to "starve the beast" they are really saying
that they are going to destroy the institution that represents the American
people; they are trying to starve the American people.
The Republican party represents a small group of extremely wealthy
families who already own almost everything in America. Currently the top .1%
of Americans own more wealth than the bottom 90% combined. They only claim
to represent a conservative ideology as a cover story for their real
representation of these few mega rich families. In other words, they are
con-men and they have successfully tricked most of the American people so
that they could effectively service the few super wealthy families who they
really represent. They are nothing more than little two-faced money whores.
So what will America be like after the Republicans get done "starving
the beast" and our government is only a hollow shell of it's former self?
For one thing, opportunity to move up the economic ladder will have
evaporated like a drop of moisture in a hot oven. The government will no
longer be a provider of social safety net programs and social service for
the American people. Laws will only protect the rich from everyone else. The
American people will work long and hard for low pay for one of "the
families", or they will starve and die. Elections and voting will be a
meaningless hoax that the media will help to conceal. Our society will
quickly begin to look more and more like the society in Mexico; a few with a
lot and most with nothing.
Most of the American people are in denial about what is happening, but
it is happening and there is not much we can do about it because of a rigged
paperless voting computers that are contolled by one political party.
I think that a lot of people foolishly believe that if they support
the Republican party they will get to join the ranks of the rich some day,
when the exact opposite is much more likely to happen. Or they incorrectly
believe the GOP represents a social and fiscal conservatism that is healthy
for our capitalist democracy, when the reality is they represent a fascist
ideology that is ruining our democracy. Or they have been tricked into
believing that the Republican party is more moral and Christian than the
Democratic party, when in fact all their legislation and policy positions
represent the opposite of Christian values.
The truth is that Republican party is nothing more than a clever and
well financed criminal organization that is busy figuring out how to pick
the pockets of the American people and their government while giving the
appearance of honorable public servants and moral leaders. In other words,
their just a bunch of con-men who are perpetrating a series of bait & switch
scams that will cost the American people their democracy, and much more if
they are allowed to succeed.
Many smart people repeat the famous quote "People who forget their
mistakes are doomed to repeat them.", and that is definitely the case with
our democracy. Our founding fathers warned us about people who might try to
rob our government and enslave us. They wrote our foundation laws, the U.S.
Constitution, to prevent our democracy from being robbed, and to protect the
people from being oppressed. Our forefathers understood the dangers to our
democracy from wealthy Americans and they stood up to the Robber Barons, and
thus keep them from robbing America and enslaving it's people. But obviously
most of the American people don't know their own country's history and as a
result we are now on the verge of losing the two hundred year inheritance
that our forefathers left us.
Today we have a $7.8 trillion dollar debt, an un-funded Social
Security system that has IOUs of $1.7 trillion, and is about to be
undermined by Bush's plan for privatization. We have a Medicare system that
has been pushed to the brink of bankruptcy by bad legislation that Bush and
the GOP designed. We have a government that is controlled by Bush and the
Republican party and these people have cut taxes and raised spending so much
that our government is adding $.7 trillion a year to our debt burden, and
has shifted the tax burden off the rich and onto the middle class. In other
words, the Republicans have set our government on a fast track to bankruptcy
and impoverishing 99.9% of the American people.
This is not just George W. Bush's fault. It is also Ronald Reagan's
fault since his administration added over $2 trillion dollars to the
national debt. And it is Papa Bush's fault since his administration added
another $2 trillion to the national debt. And it is the GOP's fault since
they were the ones who picked these leaders and their members are the ones
who voted for all these new debts.
You can't blame Clinton or the Democrats for this debt since they are
the ones who balanced the federal budget and generated a huge surplus,
historic economic growth, lots of new wealth, and very low unemployment.
I hope you realize that Bush and the Republicans in Congress are
laughing at us behind our backs, as they think to themselves "suckers" as
they continue their greedy ruthless con game.
Since the elections in November all the debate, finger pointing,
partisanship, reasoned arguments, and logical suggestions are now mute
points because our voting system is rigged, and the American people don't
understand what has happened, or more importantly what they can do about it.
It is up to the American people to hold these treasonous criminals
accountable, otherwise they will need to learn how to live on their knees,
and how to die with faith.
--
"You can fool some of the people all of the time,
and those are the ones you want to concentrate on."
G.W. Bush, Gridiron Club dinner, Wash., D.C. March 2001
"WE WILL SPEND $3.3 TRILLION OVER THE NEXT 10 YEARS ON TOP OF ---ON
TOP OF THE $1.9 TRILLION BUDGET. WE STILL HAVE TRILLIONS OF DOLLARS
LEFT IN THE SURPLUS."
George W. Bush -- Inside Politics, 8/22/00
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1144325061.031142.60520 [at] u72g2000cwu.googlegroups.com...
> As global imbalances grow the cracks start to widen ................
>
> Latest Money Week article by Stephen Roach, global economist at Morgan
> Stanley :
>
http://www.moneyweek.com/file/10595/why-the-us-economys-luck -is-running-out.html
>
> " ......... From Beijing to Dubai, there is a growing undercurrent of
> economic anti-Americanism. The irony of it all is truly extraordinary:
> The US has the greatest external deficit in the history of the world,
> and is now sending increasingly negative signals to two of its most
> generous providers of foreign capital - China and the Middle East.
> The United States has been extraordinarily lucky to finance its massive
> current account deficit on extremely attractive terms. If its lenders
> now start to push back, those terms could change quickly - with
> adverse consequences for the dollar, real long-term US interest rates,
> and overly indebted American consumers. The slope is getting
> slipperier, and Washington could care less."
>
|
|
|
| Re: Why the US economy's luck is running out [message #377830 ] |
Do, 06 April 2006 15:27 |
|
Bush Wants To Bankrupt America: There is Method To His Madness
By Sam Hamod
07/01/03: Some have wondered if GW Bush knows what he's doing with his tax
cut that benefits the corporations and the very rich, and cuts away the
remaining money of the poor and the middle class. I say yes, he does know
what he'd up to, as do his corporate advisors and his neo-con economist
friends and theorists, chief among them Grover Norquist. Norquist has been
the chief architect behind the dismantling of the American federal financial
structure in terms of benefits for the common citizen, but has helped to
create the superstructure of tax breaks for the very rich and the
corporatocracy that now has a choke-hold on America.
The plan is very simple, but not obvious on first blush. Make sure that all
the money is gone from the U.S. treasury, make sure the deficits are so
great that all social and educational programs are cut, increase the
military and security budgets to "protect our nation" with all these monies
going to corporations and security firms who are extra-national (not tied to
any country, but actually more than multi-national in that they are outside
the purview of any nation at any single moment) and stave in the social
security fund by allowing it to go to private corporations for
"investment"-and you have the perfect scenario for saying, "only the private
sector can save us-we're broke and they have the money to run every program,
fund every program, but of course, at huge costs and profits for the private
corporations." Our only resource will be the corporate lenders, especially
the large extra-national corporations who will have loyalty to no one except
their corporate coffers and large share owners throughout the world.
This plan is so obvious at this point that it is hard to believe because it
is happening so fast and the Democrats and even conservative non- neo-con
Republicans don't realize what Bush and his neo-con buddies are up to.
Of course, this is easier to accomplish with all of our attention being
focused on 9/11 matters, Bin Laden, Saddam Hussein, the WMDs, threats to our
nation, threats to our troops in Iraq and Afghanistan (where we lose troops
everyday to Iraqis and Afghans fighting against our occupation), but we keep
sending in more troops to basically protect Bechtel and Halliburton. Soon,
we'll also hire private contractor troops, some from other countries and
others from selected American security firms. All the time we are occupied
with this, just as Orwell predicted in his novel, 1984, the Bush team will
be destroying our civil liberties and taking away our social and educational
programs in order to fund "security measures" and will keep blinking yellow,
orange, and red codes at us.
I want to make this article short so that you have time to think about this
and alert your congressperson and senator as to what's really going on. Bush
has already started pushing for privatization in Iraq and Afghanistan and in
America-it's only a short step from this huge debt he has created from the
great surplus he inherited. *God only knows what kind of deficit he's going
to create as he lets the dollar drop freely, so that consumers have to pay
more for goods and our balance of trade goes to hell, the national debt at
its current rate will take over 100 years to pay off-if we can even then get
a hold on it according to some economists who are upset (see articles by
Paul Krugman and others)sat the Bush team's actions. But they fail to see
the real motive behind all this seeming disaster. Yes, it's a disaster for
us, but it's a windfall for Bush and his corporate friends who will soon be
running everything. *Actually, through their lobbying, they are running most
things at this point-simply see the astounding inflation in drug prices
compared to the low national inflation rate, the false "shortage of natural
gas"-a commodity that is endless in the world and in its supply in
America-the artificial shortage of electricity (as done by Enron and others
to jack up prices and now FERC saying that though California did sign
contracts with utilities under duress, they are still bound by the contracts
even though they were lied to when signing the contracts-which is fraud in
any honest person's mind, but not in the mind of FERC) and now our need for
added security that is endless because it will not be long before Bush
brings terrorists to our shores by either his behavior, or allows some
actors within the Republican camp to fake terrorist raids so that possibly
martial law will follow.
Friends, we are in a mess of catastrophic proportions on so many fronts that
it will be difficult to unravel all the various strains of this explosive
Bushian virus. I use the term virus, because Bush is trying to pack the
courts with his appointees from the neo-con right, placing government
officials in corporations and in some cases, in law schools so that the
neo-con approach to the destruction of the federal government may have
academic credentials and blessings. Yes, this is an artificially created
virus intended to kill the patient-namely, our democracy and our formerly
free and decent lives.
© Copyright 2003
--
"You can fool some of the people all of the time,
and those are the ones you want to concentrate on."
G.W. Bush, Gridiron Club dinner, Wash., D.C. March 2001
"WE WILL SPEND $3.3 TRILLION OVER THE NEXT 10 YEARS ON TOP OF ---ON
TOP OF THE $1.9 TRILLION BUDGET. WE STILL HAVE TRILLIONS OF DOLLARS
LEFT IN THE SURPLUS."
George W. Bush -- Inside Politics, 8/22/00
"Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
news:1144325061.031142.60520 [at] u72g2000cwu.googlegroups.com...
> As global imbalances grow the cracks start to widen ................
>
> Latest Money Week article by Stephen Roach, global economist at Morgan
> Stanley :
>
http://www.moneyweek.com/file/10595/why-the-us-economys-luck -is-running-out.html
>
> " ......... From Beijing to Dubai, there is a growing undercurrent of
> economic anti-Americanism. The irony of it all is truly extraordinary:
> The US has the greatest external deficit in the history of the world,
> and is now sending increasingly negative signals to two of its most
> generous providers of foreign capital - China and the Middle East.
> The United States has been extraordinarily lucky to finance its massive
> current account deficit on extremely attractive terms. If its lenders
> now start to push back, those terms could change quickly - with
> adverse consequences for the dollar, real long-term US interest rates,
> and overly indebted American consumers. The slope is getting
> slipperier, and Washington could care less."
>
|
|
|
| Re: Why the US economy's luck is running out [message #377835 ] |
Do, 06 April 2006 17:39 |
|
His dad wanted to destroy all Social Program for pork belly projects. Before
Bush leaves his mission will be complete.
--
http://politics.guardian.co.uk/iraq/story/0,,1700881,00.html
http://www.thememoryhole.org/war/wounded/gallery.htm
Terrorism can never be erased with force...With force you create more
terrorist... by Jennie
Only way to beat terrorist is to use terrorist tactics...set traps, snipers.
No amount of conventional warfare will work...
Traitors is DC. A traitor is one who betrays one's country, a cause, or a
trust, especially one who commits treason.
Bush has awakened us, the poor and middle class Americans...We are watching
and waiting to cast our votes...
The Constitution says "We the People" not "We the Special Interest Groups."
Americans Vote!
"Gorf" <spam [at] nospam.com> wrote in message
news:uH8Zf.56910$915.30154 [at] southeast.rr.com...
>
> Bush Wants To Bankrupt America: There is Method To His Madness
>
> By Sam Hamod
>
> 07/01/03: Some have wondered if GW Bush knows what he's doing with his tax
> cut that benefits the corporations and the very rich, and cuts away the
> remaining money of the poor and the middle class. I say yes, he does know
> what he'd up to, as do his corporate advisors and his neo-con economist
> friends and theorists, chief among them Grover Norquist. Norquist has been
> the chief architect behind the dismantling of the American federal
> financial
> structure in terms of benefits for the common citizen, but has helped to
> create the superstructure of tax breaks for the very rich and the
> corporatocracy that now has a choke-hold on America.
>
> The plan is very simple, but not obvious on first blush. Make sure that
> all
> the money is gone from the U.S. treasury, make sure the deficits are so
> great that all social and educational programs are cut, increase the
> military and security budgets to "protect our nation" with all these
> monies
> going to corporations and security firms who are extra-national (not tied
> to
> any country, but actually more than multi-national in that they are
> outside
> the purview of any nation at any single moment) and stave in the social
> security fund by allowing it to go to private corporations for
> "investment"-and you have the perfect scenario for saying, "only the
> private
> sector can save us-we're broke and they have the money to run every
> program,
> fund every program, but of course, at huge costs and profits for the
> private
> corporations." Our only resource will be the corporate lenders, especially
> the large extra-national corporations who will have loyalty to no one
> except
> their corporate coffers and large share owners throughout the world.
>
> This plan is so obvious at this point that it is hard to believe because
> it
> is happening so fast and the Democrats and even conservative non- neo-con
> Republicans don't realize what Bush and his neo-con buddies are up to.
>
> Of course, this is easier to accomplish with all of our attention being
> focused on 9/11 matters, Bin Laden, Saddam Hussein, the WMDs, threats to
> our
> nation, threats to our troops in Iraq and Afghanistan (where we lose
> troops
> everyday to Iraqis and Afghans fighting against our occupation), but we
> keep
> sending in more troops to basically protect Bechtel and Halliburton. Soon,
> we'll also hire private contractor troops, some from other countries and
> others from selected American security firms. All the time we are occupied
> with this, just as Orwell predicted in his novel, 1984, the Bush team will
> be destroying our civil liberties and taking away our social and
> educational
> programs in order to fund "security measures" and will keep blinking
> yellow,
> orange, and red codes at us.
>
> I want to make this article short so that you have time to think about
> this
> and alert your congressperson and senator as to what's really going on.
> Bush
> has already started pushing for privatization in Iraq and Afghanistan and
> in
> America-it's only a short step from this huge debt he has created from the
> great surplus he inherited. *God only knows what kind of deficit he's
> going
> to create as he lets the dollar drop freely, so that consumers have to pay
> more for goods and our balance of trade goes to hell, the national debt at
> its current rate will take over 100 years to pay off-if we can even then
> get
> a hold on it according to some economists who are upset (see articles by
> Paul Krugman and others)sat the Bush team's actions. But they fail to see
> the real motive behind all this seeming disaster. Yes, it's a disaster for
> us, but it's a windfall for Bush and his corporate friends who will soon
> be
> running everything. *Actually, through their lobbying, they are running
> most
> things at this point-simply see the astounding inflation in drug prices
> compared to the low national inflation rate, the false "shortage of
> natural
> gas"-a commodity that is endless in the world and in its supply in
> America-the artificial shortage of electricity (as done by Enron and
> others
> to jack up prices and now FERC saying that though California did sign
> contracts with utilities under duress, they are still bound by the
> contracts
> even though they were lied to when signing the contracts-which is fraud in
> any honest person's mind, but not in the mind of FERC) and now our need
> for
> added security that is endless because it will not be long before Bush
> brings terrorists to our shores by either his behavior, or allows some
> actors within the Republican camp to fake terrorist raids so that possibly
> martial law will follow.
>
> Friends, we are in a mess of catastrophic proportions on so many fronts
> that
> it will be difficult to unravel all the various strains of this explosive
> Bushian virus. I use the term virus, because Bush is trying to pack the
> courts with his appointees from the neo-con right, placing government
> officials in corporations and in some cases, in law schools so that the
> neo-con approach to the destruction of the federal government may have
> academic credentials and blessings. Yes, this is an artificially created
> virus intended to kill the patient-namely, our democracy and our formerly
> free and decent lives.
>
>
> © Copyright 2003
>
>
>
>
>
> --
> "You can fool some of the people all of the time,
> and those are the ones you want to concentrate on."
> G.W. Bush, Gridiron Club dinner, Wash., D.C. March 2001
>
>
> "WE WILL SPEND $3.3 TRILLION OVER THE NEXT 10 YEARS ON TOP OF ---ON
> TOP OF THE $1.9 TRILLION BUDGET. WE STILL HAVE TRILLIONS OF DOLLARS
> LEFT IN THE SURPLUS."
>
> George W. Bush -- Inside Politics, 8/22/00
>
>
> "Crowley" <crowleyalastair [at] yahoo.co.uk> wrote in message
> news:1144325061.031142.60520 [at] u72g2000cwu.googlegroups.com...
>> As global imbalances grow the cracks start to widen ................
>>
>> Latest Money Week article by Stephen Roach, global economist at Morgan
>> Stanley :
>>
> http://www.moneyweek.com/file/10595/why-the-us-economys-luck -is-running-out.html
>>
>> " ......... From Beijing to Dubai, there is a growing undercurrent of
>> economic anti-Americanism. The irony of it all is truly extraordinary:
>> The US has the greatest external deficit in the history of the world,
>> and is now sending increasingly negative signals to two of its most
>> generous providers of foreign capital - China and the Middle East.
>> The United States has been extraordinarily lucky to finance its massive
>> current account deficit on extremely attractive terms. If its lenders
>> now start to push back, those terms could change quickly - with
>> adverse consequences for the dollar, real long-term US interest rates,
>> and overly indebted American consumers. The slope is getting
>> slipperier, and Washington could care less."
>>
>
>
>
|
|
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