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Old 09-26-2017, 11:17 AM
 
Location: USA
6,171 posts, read 4,950,686 times
Reputation: 10547

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The economy is fine for those who are smart and have 21st century job skills. If you're still waiting for one of those factory jobs where you get paid $40 an hour to throw a bolt on something you will be disappointed.
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Old 09-26-2017, 11:25 AM
 
Location: State of Transition
72,664 posts, read 64,140,481 times
Reputation: 68440
Quote:
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.
Really? How? What does Pepsi contribute to the US economy? Does it pay its share of corporate taxes to the IRS? Does it pay much of any taxes at all? How, exactly, does buying a coke support the US economy? Have wages for Pepsi workers increased significantly since the 80's, or is it mainly CEO pay that has?
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Old 09-26-2017, 11:36 AM
 
18,775 posts, read 6,138,018 times
Reputation: 12663
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.
Boy is this ever the Truth. I heard a panel on the insurance care experts on CNN last night, I heard it on radio and THEY kept saying it's the insurance fraud that has us $20T in the tank.

Come on guys and ladies, it's the endless wars and we keep the guns industry alive and fat happy with mega profits. Sick....
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Old 09-26-2017, 11:39 AM
 
2,923 posts, read 1,708,807 times
Reputation: 1894
Quote:
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.
if they remit that foreign income but they don't coz it will be taxed
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Old 09-26-2017, 11:40 AM
 
2,923 posts, read 1,708,807 times
Reputation: 1894
Quote:
Originally Posted by Bailey340 View Post
No one is mentioning the almost $20 Trillion debt we owe. The last time we were debt free was under Andrew Jackson's term.

No one has figured out how we will pay this back when we can't even balance the current operating budget without adding more to the deficit. When times are good (like under Obama and now under Trump) we should be incurring a budget surplus and pay off part of the debt. But no one is looking at the long term. Politicians are incapable of cutting spending.
and they want to cut taxes again
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Old 09-26-2017, 11:41 AM
 
18,775 posts, read 6,138,018 times
Reputation: 12663
About the U.S. economy sucking, it's tough for this ole gal to see today's prices as I lived in the prices after the great depression and on.

One thing that is thriving is Plastic Debt .
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Old 09-26-2017, 11:47 AM
 
Location: Myrtle Creek, Oregon
11,042 posts, read 11,455,634 times
Reputation: 17204
You guys would get along great with Pangloss. You think the US economy is doing so great, when it is failing half the population. Half of all Americans get direct government assistance because the economy is a steaming pile of crap, and in your minds that is wonderful.

https://www.forbes.com/sites/merrill.../#282cd31a3e6c
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Old 09-26-2017, 12:05 PM
 
11,315 posts, read 5,839,816 times
Reputation: 20965
Quote:
Originally Posted by Larry Caldwell View Post
You guys would get along great with Pangloss. You think the US economy is doing so great, when it is failing half the population. Half of all Americans get direct government assistance because the economy is a steaming pile of crap, and in your minds that is wonderful.

https://www.forbes.com/sites/merrill.../#282cd31a3e6c
High humor. A Forbes opinion piece.

Here's what the US Census Bureau says:
https://www.census.gov/newsroom/pres...5/cb15-97.html
Quote:
Approximately 52.2 million (or 21.3 percent) people in the U.S. participated in major means-tested government assistance programs each month in 2012, according to a U.S. Census Bureau report released today. Participation rates were highest for Medicaid (15.3 percent) and the Supplemental Nutrition Assistance Program, formerly known as the food stamp program (13.4 percent).
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Old 09-26-2017, 02:02 PM
 
Location: Myrtle Creek, Oregon
11,042 posts, read 11,455,634 times
Reputation: 17204
Quote:
Originally Posted by GeoffD View Post
And replaced with what exactly? Bitcoin? The Won?
Several nations are working on a world reserve currency backed by several national currencies, but not tied to any individual country. It's unlikely to happen until the collapse of the US Dollar, but it will eventually happen. Preliminary plans are in place.
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Old 09-26-2017, 02:17 PM
 
8,280 posts, read 3,454,476 times
Reputation: 1584
Quote:
Originally Posted by Larry Caldwell View Post
Several nations are working on a world reserve currency backed by several national currencies, but not tied to any individual country. It's unlikely to happen until the collapse of the US Dollar, but it will eventually happen. Preliminary plans are in place.
In a generation or so of time the Yuan may rise if China desires. But it would be a complicated and large desire, and not happen overnight by any means. The USD does not need to crump, as the economic world will be much larger then. This move if it should happen would provide us and the world more investment diversification along with new opportunities.

Much of this still holds, as China's economy is still very much supported by exports:

China yuan not close to reserve currency - Business Insider
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