The most disturbing part of this to me is these facts. The president is a smart man, so are (most of) the members of Congress, so are the people running the various agencies and bureaucratic entities that run this show.
It is commonsense that if you move your manufacturing capability offshore, the economy and security of your nation is diminished, and forced into a service economy. Not mentioned is the commonsense fact that any "service" is totally dependent on material goods, manufactured somewhere.
They must see what's going on, yet they not only don't remedy it but give cleaned, cooked and misleading reports to the American people, some of whom lap it up wholesale without running it through their native intelligence and regurgitate it on FreeRepublic.
For each that believes and posts this bilge on FR, how many in the general population who believe it must there be?
I personally suspect that this is being done in preparation for a world government, controlling trade being the first priority of a multicultural government, who needs to suborn all cultural nations under one baby blue flag.
Tinfoil hat stuff? Only to ostriches.
Yes, the phony numbers are a real problem. They make it difficult for investors to make real-world decisions based on macroeconomic trends. When you can't trust the government's numbers anymore it is difficult to make investments rationally. When commodities are rising in price so rapidly there is an inherent economic impetus to spend those dollars now instead of save.
I trenched a new electric service to my property last summer. Thank God I did it one step ahead of runaway copper prices. I bought a 1000 foot roll of 12-2 with ground. I'm so happy now that I have the wire at last summers' prices, and that I spent those dollars. Again, there is a large push to spend, not to save for the future.
The Fed has kept interest rates at a 30 year low to keep consumer spending growing, to keep the economy primed. The consumer is now tapped out. Americans have taken their home equity and spent it. They have spent up their credit card debt. Now we have a new bankruptcy law that I understand makes personal residences subject to seizure for debt.
I heard on one of the Financial Sense broadcasts that over 20% of new home purchases/refis in the past two years have been with variable rate mortgages. When home loans were going at 30 year low rates, Greenspan gave testimony to Congress urging buyers to use variable rate loans, which are cheaper initially, at least. That kept the refi market humming for a couple more months . Now, as the Fed raises rates, those mortgages will be paid back with higher and higher monthly payments. There are so many trends that look ominous for our economy.
I personally suspect that this is being done in preparation for a world government, controlling trade being the first priority of a multicultural government, who needs to suborn all cultural nations under one baby blue flag. Tinfoil hat stuff? Only to ostriches. Okay now I understand you and APole. You are schizzoid Nutzo's left over from Pat Buchannans pitchfork brigades worrying about black helicopters and blue UN helmets. How about it being the unionists and the environmentalists that have made it economically non viable to manufacturer most goods here in the US.