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Title: 15 Shocking Poverty Statistics
Source: economic collapse blog
URL Source: [None]
Published: Oct 15, 2010
Author: those economic collapse dudes.
Post Date: 2010-10-15 16:40:55 by ghostdogtxn
Keywords: None
Views: 224
Comments: 17

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Begin Trace Mode for Comment # 1.

#1. To: ghostdogtxn (#0)

It's that giant sucking sound.

Come home to roost.

Lod  posted on  2010-10-15   16:50:20 ET  Reply   Untrace   Trace   Private Reply  

#2. To: Lod (#1)

ghostdogtxn  posted on  2010-10-15 16:53:35 ET  Reply   Untrace   Trace   Private Reply  

giant sucking sound.

this giant sucking sound that Ross Perot popularized has been going on for a long time. for a society to be prosperous it is required that monetary policy and trade policy both be favorable for prosperity to occur. Holding the US dollar artificially expensive and allowing free trade together is suicidal for domestic producers of goods or services if those domestic producers must compete with foreign producers.

If McDonalds had to raise its prices by 40% one day by government decree, then would McDonald's be prosperous in its competition with its rivals? Its the same thing with America. Our currency is particularly over-valued to the chinese currency. If we let the dollar float to the yuan, then this may mean a 40% reduction in the prices of all US sourced goods and services at least as they're sold in China. It is nonsense to think that we have nothing to sell to the Chinese. Yet they export to us 4 times what we export to them. The president and congress both have a fiduciary responsibility to watch out for our interests. Regarding trade and currency policy they are not doing their jobs.

Congress finally passed some resolution and sent it to the White House asking the president to get action on the currency issue. THe president is dropping the ball currently, but efforts of both have been weak.

Our country was always known from its inception prior to 1700 as a place where people found opportunity. Where ordinary people made a very good living. History records that in 1700 and up to the late 1900's the standard of living of the ordinary Americans dwarfed that of the ordinary people in other nations. benjamin franklin remarked that french peasants were incredibly poor relative to Americans. British soldiers during the revolution wrote in their journals that ordinary americans lived very high. This tendency of ours' lasted to the late 1900's.

and now, opportunity for the poor in America are extremely bad. There are 22 other nations with a richer bottom 10% than us. That sort of thing did not happen in all of US history until just the last 10 years.

Red Jones  posted on  2010-10-15 17:03:07 ET  Reply   Untrace   Trace   Private Reply  

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