US buying bubble could burst the world economy

The Mail & Guardian ^ | Monday, July 28, 2003 | Larry Elliot

[ArneFufkin]

I have no idea where the last two sentences came from! Hot key voodoo. LOL. Gibberish are Us!

[ArneFufkin]

Thank you!

[eno_]

Can't. It's collateral for the National Debt. We have mortgaged our grandchildrens' future, education, infrastructure, and land. Isn't much left that isn't in hock.

Bull. We could, and should, sell as much federally owned land as possible. It is very unhealthy for the paower of states for the fedgov to own so much.

[Uncle Bill]

Industry Leaders Warn Bush
"If the administration does not act beginning in mid-2004, a new, enormous wave of plant closures and worker layoffs is certain to occur in the country’s major textile areas, such as the southeast, as orders for yarns, fabrics, home furnishing products and apparel are diverted to China,...China could gain control of approximately 70 percent of the U.S. market once quotas are removed,”

U.S. Departing The First World

Boeing can't act like British colonialists extracting wealth from other countries and exporting it all back home....the United States has no divine right to our standard of living,"
Alan Mulally, president of Boeing Commercial Airplanes Group - Source

SOURCE FOR BELOW: BUSH DECLARES NOTHING WRONG WITH ECONOMY

George W. Bush Quotes:

"Look around you," Bush implored his audience. "You've all got jobs. I've got a job. Dick Cheney has a job. I don't see what all the fuss is about."

"I may not be an economist, but anyone can see that things look pretty good from here. Besides, we're at war."

"And if there were problems with the economy, I'd be on it. Don't you think I would? The simple truth is that there are no problems. Not a one. Not an iota of problem."

"And we're not going to be suckered into a rope-a-dope with this whole recession game by the Democrats. We've got a war to fight."

"When have you ever heard me say there was a problem with the economy? When? Never. That's because there has been no problem since this administration took office.

"Did I mention we're at war?"

"Economies are about money," the President stated. "And I feel . . . I believe that money . . . I like money. And I like this country. Money is good and this country still has a lot of money."

Ari Fleischer Quotes:

"If the President declares that there is nothing wrong with the economy, then I'm sure there is nothing wrong with the economy."

"To turn our attention away at this time from the threat posed by Iraq to focus on the U.S. economy would be un-American."

"Obviously, our Republican mandate from the recent elections shows that the American people are more concerned with Homeland Security than whether their 401(k)s have gone down a few measly points. Get over it."

[arete]

That's pretty funny.

Richard W.

[RightWhale]

It is very unhealthy for the paower of states for the fedgov to own so much.

An hypothesis. Fed Gov does not agree, and the states after the original 13 colonies have a different deal where they never owned federal land in the first place. Who will buy all this federal land?

[eno_]

For a "Right" Whale you sure do like the post New Deal shape of FedGov power.

How about autioning fedgov land and seeing who buys it? The U.S. has a very large and liquid market in real estate.

[RightWhale]

How about autioning fedgov land and seeing who buys it?

Guarantee this: most of the land won't be sold anywhere near its valuation. There won't be enough money raised to pay for the auction. The FedGov will also retain the right to tax the property, and will retain subsurface rights. They also won't auction national parks, wildernesses, or forests. Doesn't leave much that anybody would be interested in. Maybe later, when there are 6 billion people living in America it will be worth something, but not now. It's just $6 trillion collateral.

[y2k_free_radical]

rotflmao

[Tauzero]

"I've been worrying about this stuff for a while, but what are small-fry like us to do other than practice our subsistence gardening technique?"

General rule: whatever the government is doing, do the opposite.

[Tauzero]

bump to that