Posted on 10/27/2004 10:38:03 AM PDT by JFK_Lib
Lets hope so. That sort of selloff would help stop the current subsidy of foreign imports into the U.S. by dropping the foreign-exchange value of the Dollar (making imports more expensive).
It also burns U.S. companies that are paying for offshore outsourcing. The more that the Dollar drops, the more expensive foreign goods and services become.
I understand that this President is not the most fiscally conservative, but I do think that part of the reason is the WTC attacks, corporate scandals, brankruptcy of the airlines, and the War on Terror. I think Bush knows that a lot of fiscal progress has to be made in the next term to get this country back on track.
We need to most of all close the trade deficit, have a balanced budget amendment, begin paying off huge chunks of the nat'l debt, and reduce our dependency on foreign oil. I think understands this. It's just that there is a lot going on right now that he can't really control at once.
Your plan sounds great and America will have to rely on brillant minds (which we have been doing for a couple hundred years) to come up with some new technoligies.
I dont think we will be creating wealth the old fashioned way for some time now. It looks like China is going to take over that top spot now that they have allowed the big corps. to build factories over there. The bad news is they can take over the buildings anytime the commies get greedy or power hungry. They have been allowed to have all the tech that goes with the brick and mortor.
So they have a advantage as long as the rest of the world sells them the natural resources they will need. It sure looks like they are gonna have their hands full taking our place though. I read a article today that many people who came to the city seeking their fortune are returning to the farmland because they are being ripped off while working as slave labor in the factories.
Hopefully someone in America is hard at work coming up with new stuff. I like the space idea. I am sure the US Air Force has stuff up there that will make sure America owns Outer Space.
To prevent duplicates, please do not alter the heading. Thanks.
I dont doubt that America continues to create wealth. I am just wondering if the federal fund stats can be trusted and exactly what industries are creating this wealth. Because it appears that our GDP is way down and my understanding of economics is that the GDP is the basic barometer of wealth.
Alot of great replies showing alot of thought; thanks.
I still dont have any feel for what is going to happen, accept that the dollar looks to continue to drop a bit, and so I am thinking of putting more of my investments into European stocks. Maybe a third or so.
As to the thread title being changed; I didnt do that.
Who did?
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