Posted on 09/28/2006 10:24:42 AM PDT by Paul Ross
28 September 2006
Forum sees threat to U.S. economy
ISA InTech, September 28, 2006
The U.S.’s huge budget is not good news, said the World Economic Forum.
The Wall Street Journal reported the institute’s annual study of global competitiveness said the U.S. economy is the sixth most competitive in the world, slipping from first place in last year’s ranking.
The competitiveness study ranks countries according to a range of criteria—including macroeconomic policies, market regulations, technological development, education systems, and public institutions—that the forum believes influence an economy’s level of productivity, and thereby its ability to sustain economic growth over many years. The ranking combines economic indicators with the findings from a survey of business executives.
Serial budget deficits in the U.S. have led to rising public debt, which means an increasing portion of government spending goes toward debt service. That means less money is available for spending on infrastructure, schools, or other investments that could boost productivity.
Heavy government borrowing, which means competing for money in financial markets with the private sector, also tends to drive up businesses’ borrowing costs.
Middling scores went to the fast-growing emerging economies of the world considered to be changing the economic balance of power: India ranks 43rd out of 125 countries in the survey, China ranks 54th, Russia 62nd, and Brazil 66th.
Country rankings 2006-2007
1. Switzerland
2. Finland
3. Sweden
4. Denmark
5. Singapore
6. U.S.
7. Japan
8. Germany
9. Netherlands
10. U.K.
11. Hong Kong
12. Norway
13. Taiwan
14. Iceland
15. Israel
Source: Global Competitiveness Report, World Economic Forum
Funny, the US has more people in it then the 5 nations in front of it.... combined.
I think they must be looking at it from the investment standpoint alone.
Yeah, from the list I am sure our American made watch manufacturers are all shaking in their boots.
Not funny... the U.S. probably has more people on welfare than the total populations of the 5 nations in front of it.
The US has more people than the other 14 nations on the list combined, I think.
It's a good thing interest rates are historically low, and corporate cash balances are near their all time highs.
"Heavy government borrowing" is something that we eventually have to pay for, one way or the other!
I think that ou are way off base with that observation. Anyway, Our welfare/poor are considered wealthy in most countries. They frequently own their own color TV, Car, Home, etc.
"Not funny... the U.S. probably has more people on welfare than the total populations of the 5 nations in front of it."
4.7% unemployment. Not going to get much better than that. If someone wants a job, there is one out there. For those who cannot work, that's another story.
Numbers 2-4 are Scandinavian, they are legendary for their welfare states. Sweden just elected a conservative government. Norway has ridiculous amounts of surplus oil money to subsidize their energy costs.
Anyone here actually think it would be better to be in business in these countries over ours? COME ON!!
>> Funny, the US has more people in it then the 5 nations in front of it.... combined. <<
Heck, California does.
BS... when you have the biggest and most solvent economy in the world, those hugely smaller poor performers have a lot more head room for insignificant gains (but look good as percentage points on a graph).
America's economy has grown more in the last TWO YEARS, than the entire size of the Chicom economy. Name one more economy that has grown anywhere as close in actual DOLLARS!
LLS
So do Texas or California. Could someone point out all the factory jobs in those fast growing competitive countries.
What, no Muslim based countries?
Fatwa be upon you, and your family, your goats, ect. ect...
(sarcasm is a form of humor)
NO2
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.