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Old 09-25-2017, 12:51 PM
 
1,937 posts, read 1,329,021 times
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Quote:
Originally Posted by Larry Caldwell View Post
The reason the US economy is no longer serving the majority of its citizens is the endless wars we have been engaged in. Trillions of dollars that should have gone to investment and infrastructure has been squandered in other countries, leaving the US economy in nonproductive rubble. I had an economics professor 50 years ago who predicted it would happen. He was talking about Viet Nam back then. Bosnia, Iraq and Afghanistan were not even on the radar 50 years ago, but he was proven right.

That's part of it. But not all of it.

Much of those trillions are borrowed money printed out of thin air. The currency is debauched, for one thing.

But... one point I'd like to make.

The economy of a nation doesn't "serve it's citizens". The economy is a concept composed of the collective efforts and policies of people. Every citizen is a unit of the economy. As such, they serve and receive benefit from economic behavior. They consume and produce something. People are the economy.

So... I think it's more true to say the government's economic POLICY of the nation is not serving it's citizens as well as it should. Firstly, inculcating the idea that people are owed things from the treasury merely because they exist is a dangerous idea. Nothing is free, because people can't provide things for free except on their own time as volunteers. But not in the workplace.
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Old 09-25-2017, 12:53 PM
 
1,937 posts, read 1,329,021 times
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Originally Posted by munna21977 View Post
US economy is also earning from other countries. Everytime somebody purchase a bottle of Pepsi in India or an iPhone in Japan or McDonald's in Germany or latest Hollywood flick in theater in Argentina - USA Economy gets a boost. Money is flowing from countries around the world to USA.

Just wait till the dollar is dumped as the world's reserve currency. Then you'll really see the money flowing into the US.
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Old 09-25-2017, 03:00 PM
 
11,360 posts, read 5,863,312 times
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Originally Posted by Led Zeppelin View Post
Just wait till the dollar is dumped as the world's reserve currency. Then you'll really see the money flowing into the US.
And replaced with what exactly? Bitcoin? The Won?
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Old 09-25-2017, 03:06 PM
 
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https://m.youtube.com/watch?v=dHMaYRGwVy0


https://m.youtube.com/watch?v=BcuStxJHv4c
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Old 09-25-2017, 07:03 PM
 
Location: City of the Angels
2,223 posts, read 1,524,927 times
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I've often thought it's all about mismanaging other people's money.
There are a lot of strong parallels to the present United States government in the below quote as we lose our way with having freedom and the government telling us how to think and act.
It kind of makes you want to take a knee when the flag is being presented in a public ceremony just to show that you are still free to do so.


Q: There are those nasty critics, of course, who suggest that you don’t really want to bring [the Labour Party] down at the moment. Life is a bit too difficult in the country, and that … leave them to sort the mess out and then come in with the attack later … say next year.


A: I would much prefer to bring them down as soon as possible. I think they’ve made the biggest financial mess that any government’s ever made in this country for a very long time, and Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them. They then start to nationalise everything, and people just do not like more and more nationalisation, and they’re now trying to control everything by other means. They’re progressively reducing the choice available to ordinary people.


Margaret Thatcher during an interview with journalist Llew Gardner for Thames Television’s This Week program on 5 February 1976 (a year after Mrs. Thatcher won the leadership of the opposition Conservative Party, and three years before she became prime minister).
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Old 09-25-2017, 11:49 PM
 
24,750 posts, read 26,817,884 times
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Quote:
Originally Posted by Larry Caldwell View Post
The reason the US economy is no longer serving the majority of its citizens is the endless wars we have been engaged in. Trillions of dollars that should have gone to investment and infrastructure has been squandered in other countries, leaving the US economy in nonproductive rubble. I had an economics professor 50 years ago who predicted it would happen. He was talking about Viet Nam back then. Bosnia, Iraq and Afghanistan were not even on the radar 50 years ago, but he was proven right.
I think the reasons are endless. But certainly the wars play a part. We're following a similar pattern as the Roman Empire. Endless wars. A divided populace addicted to bread and circuses. Everyone likes to zero in on just one thing. But it's a lot of things. I guess if you could put it on one thing is that no one wants to cooperate for something greater than themselves. Everyone notices this quality in other people, but not themselves. That's it in a nutshell.
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Old 09-25-2017, 11:51 PM
 
24,750 posts, read 26,817,884 times
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Originally Posted by munna21977 View Post
One reason why investment in Infrastructure is not taking place is the high cost. It has become very expensive in USA to build anything. Cost for constructing any Bridge in say Germany or China or Australia is far less then what we have in USA. Team of lawyers, Accountants, Fund Managers, Environmental Impact experts raise the cost so much that there are no takers for the project from Public Money. Until and unless we learn to control the overall costs, we will not see infrastructure spending.
This is the one fact that mainstream media always ignores.
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Old 09-25-2017, 11:59 PM
 
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Originally Posted by ohio_peasant View Post
The US economy doesn’t suck at all. Exhibit A is stock markets. Worldwide, markets are just now creeping towards their 2007 highs. In the US, markets are 60% above their 2007 peak.

What does suck is our inability to cohere and converge towards projects of compelling national interest, be it healthcare reform, infrastructure repair/development, or the pension/retirement malaise. Defense spending is a factor, but there are greater inhibiting factors. By way of critique from the left, which I believe is correct, we have an aversion to centrally planned anything, single-payer/source-anything. By way of critique from the right, which I also believe is correct, we have ubiquitous inefficiency, over-regulation and bloat in any substantial project, be it new rail for mass-transit or a national health-insurance scheme.
I agree with all of that. I can't speak for everyone, but I have an aversion to central planning precisely because of the ubiquitous inefficiency, over-regulation, and bloat, especially when so many people on the left deny or minimize it.

I don't know for sure, but I get the impression that people in more socialist countries like Germany, people still have a sense of frugality and value efficiency. I don't think they would tolerate the bloated government mess we have here in America. Leftists in America turn a blind eye to it all and then demonize people (usually conservatives) who point out the inefficiency.
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Old 09-26-2017, 02:15 AM
 
8,021 posts, read 6,230,331 times
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Originally Posted by mysticaltyger View Post
I agree with all of that. I can't speak for everyone, but I have an aversion to central planning precisely because of the ubiquitous inefficiency, over-regulation, and bloat, especially when so many people on the left deny or minimize it.

I don't know for sure, but I get the impression that people in more socialist countries like Germany, people still have a sense of frugality and value efficiency. I don't think they would tolerate the bloated government mess we have here in America. Leftists in America turn a blind eye to it all and then demonize people (usually conservatives) who point out the inefficiency.
So you bash the American left to praise Germany which is even more Liberal. Your disdain for the so-called left and the need to bring them up in every thread is astounding.
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Old 09-26-2017, 04:03 AM
 
6,308 posts, read 4,774,343 times
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Originally Posted by Hoonose View Post
How would our lives change if the national debt today were $23T vs $20T?
The present value of your future taxes would be 15% higher.
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