News Usa Is Broke

[AngelaMarie]

Hi Anthony,
I just checked currency rate for the dollar compared to the euro. The dollar is worth 68 cents to a euro dollar. That is such a difference. I am curious about something I have noticed recently here in Holland. I have noticed more american products on the shelves here. I think it may be because products from the US are more affordable now? The world is definately changing isn't it?:tdown:

 

[anthony]

Yep... electronics here have nose dived in price, as most of them come out of the US manufacturing plants. We watch the morning current affairs here each day, and the AUD$ is now $1.07 to the US$. When the US is fine, it should be around the $0.70 mark... the more money the US keep printing without the assets to back it... the further they continue watering their dollar down to other countries, which means the longer it will take the country to revive because foreign trade will not be making them as much as previously until the US infrastructure catches up as an asset basis, which means... the US has no choice but to radically change and rebuild its manufacturing industry and create laws to stop importing cheaply from China. Cars would be the first on that hit list I believe... correct me if wrong, is the city of Detroit in the US? That is now crumbled due to imports?

The government could do a lot of good by changing some import laws and pumping these billions into rebuilding that industry for starters, and getting back to Americans driving American made cars. That alone would solve around 20% - 30% of the US financial issue in one foul swoop within a decade or two if implemented now.

 

[Tosh]

Vote for what? I mean it doesn't matter which party is in power the mechanics remain relatively the same.

I Agree, I think it's all corrupt.

 

[anni]

Detroit is actually coming back somewhat. It took a horrible, horrible hit through the 80's and 90's, the responsible companies insisting on building cheaply made, almost disposable cars when the market clearly was being taken over by demand for better quality and more economy. The imports fitted that bill for the consumer. Thankfully, some of the foreign companies have become almost arrogant with their pricing and lack of customer satisfaction while at the same time what's left of the American companies woke the heck up and began producing the quality vehicles its always been so capable of. It used to be tough, sticking to a policy of buying only American cars because for awhile in general it just did not make sense to do so. Now we're back in our family ( so imagine it might be a swing across the board with others who have been waiting for the same thing ) to buying only American products to drive.

I agree, it was a fabulous move bailing out those companies. It's controversial as heck here, but oh my, rebuilding that industry, as you said, could have a hugely positive effect on our economy- not to mention the plethora of workers coming back to the assembly lines here in the US.

 

[anthony]

Good to know the American car manufacturing industry is on the rise again... I know it was a huge part of the American economy, and did extensive damage with all the issues it went through. Awesome news...

 

[AngelaMarie]

Yeah, Detroit is in the US. Glad I was right about it. I have noticed a big change as far as import the last few months. I am sure not complaining about it!

 

[anni]

Oh, Lord, it WAS craziness for a couple of decades! We built the most impracticle gas-guzzlers ever seen on the planet plus radically changed the blueprints for classic, classic best selling cars like the Mustang and Camaro- it was utter corporate madness at its most incomrehensible or was it arrogant? I can only hope the Conservatives are not able to stop th flow somehow. Their success in convincing G. Public that all the bailouts are somehow responsible for all the sins of the universe inclusive of Christs' death has been worrying so long-term success is not yet completely assured. It's been very hopeful, however. It's genuinely and tragically unfortunate ( by way of an understatement ) that Japans horrific tradgedy is affecting its markets ( I just heard the cars will be victims of radiation worries- hope it is not true since good GOD the country cannot afford yet another economic hit ) but one cannot deny it's another boost for Detroit. It's at least a chance for Detroit to get the message out that we are indeed and at least producing vehicles approximating those quality, affordable models which helped build the economy which drove us upward in decades past.

Really, really wonderful point to bring up, Anthony. Am not very conversant with macro economics but suppose this would come under that heading? It's something hopeful when things here have been looking so absymal I haven't read an entire newspaper in weeks. :)

 

[want2cope]

Yes, I live in the US. I also work for a state institution. The states are broke also. The cost of living here goes up every year and we have not had a cost of living raise in 6 years. So many people are out of work here. The rich getting richer and the poor getting poorer.

 

[reallydown]

This is all so sad, really. As Carlin said, Germany lost WWII, but fascism won. :( On a slightly different note, did someone call CNN very liberal? Won't comment...only to say that I respectfully disagree.

 

[reallydown]

And I guess, just to add, that that (ie seeing CNN as very liberal) only speaks to how much, over time, the media has f***ed up people's perceptions.

 

[Deleted member 12723]

I live in the states, and my daughter has not been able to find a decent job yet. Now her unemployment is in jeopardy. They are just squeezing by. The bad part is her husband plans on relocating for more money. This is affecting alot of people. I don't know where it will all end at.

My husband is on social security, and they will be deducting 99$ out of his social security for medicare. Luckily we have some money socked away, we would'nt be able to survive on his social security. It is not enough money, and I don't know how the older people are making it that have to survive on social security and medicare. I wish we had free health insurance for everyone. In some ways the USA is behind the times.

I do not think there will be social security for my daughter when she gets to be 65 years old. I do not know what is going to happen, I try not to dwell on it, it is too scary.

Mitt Romney is scary, I'm going to vote for Obama. I think he has had 4 years of practice and is more qualified to run the country. I sure hope Romney is defeated. Well that is my 2 cents.

 

[anthony]

The entire capitalist model needs to be toned right down from all societies for the globe to effectively work together in unison. Regardless the country, when you have people abusing wealth as nothing more than a game or challenge, and when done with other peoples money, then any country has issues and need policy in place to remove such persons from any financial institution / position of power over financial entities that could impact the economy / economies of countries.

It is one thing to what someone does with their own money, but when a person is dealing with other persons money, then capitalism is not a good model approach for a sound future strategy. Growth must be sustainable and within the means of the economy. Over inflating things to win is the worst of capitalism, which is what needs to go with fiscal regulation IMO.