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The US has about a 5-7 year window to get the economy right. Or fall way behind.

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Posted

nano you kinda suppor my point. the leverage is out of wack. if more people don't start working that 1% gets more.

I really don't see how this process ends well for the vast majority of Americans.

The problem is our current financial system encourages / rewards behavior focused on the quick buck and to hell with the long term social and economic consequences.

We are experiencing an economic version of slash-and-burn and just like the agricultural version it is unsustainable.

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Posted

and yet again there is lots of irony and double standards financially. at one point the Cal Teachers Pension owned the most oil stocks and now they own a ton of Chinese construction companies.

speaking of Cali, this seems kind of odd. in Sept they didn't file or forgot to file their jobless claims. so that caused the jobless claim #'s to bounce. also happens around the same time the following week of the Oct payroll employee survey. maybe Jack Welch spoke to soon but for a state the size of Ca NOT to file is umm, odd.

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Posted

As an American I don't want China being the bull of the woods. If the US falls as the top dog I can see China invading Japan and Taiwan in the near future.

Most Americans cannot seem to grasp how much money the US spends on our Military in relation to the rest of the world. The US and her allies will not be trifled with militarily even if we slip a rung or two on the economic scale.

China will not be considering much less attempting to invade Japan within the lifetime of anyone reading this post.

China is the master of long term (multi-generational) planning. As time proceeds, China's regional economic power will dramatically increase, Taiwan will be economically and politically engulfed within the Chinese economic sphere without a shot being fired.

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Posted

ohhhhh china the bogeyman, right

china has its problems but the quaking fear over it is downright ridiculous. duck and cover!!!!!!!!!!!!!!!1

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Posted

get some time with smart money managers and ask them about China. if they are honest they will say China is slowing down. despite that they are soon to be the main cog.

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Posted

If I were Romney, our "allies" would only be so as long as they pulled their weight in the defense of their own country and the potential to help the US of needed. Otherwise, we need to use another word other than ally. This would coincide with the cut in the defense budget, and all other budgets.

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Posted

ohhhhh china the bogeyman, right

china has its problems but the quaking fear over it is downright ridiculous. duck and cover!!!!!!!!!!!!!!!1

I'd imagine there were some who once said the same of Germany and Russia.

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Posted

I'd imagine there were some who once said the same of Germany and Russia.

china has bested the world for thousands of years on nearly every front, with a slight hiccup in the 19th century. not a new phenomenon

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Posted

Guilty dog barks the loudest. Said nothing about leftist policies for the US. For Greece and Spain sure. Austerity measures is cutting off the leg due to the high taxation gangrene.

I have a binder full of country dubstep if you want.

you blamed the protests in greece and spain on "socialist policies" when in fact they are protesting over dumb austerity measures.

also austerity actually doesn't work. example? the global economy.

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Posted

china has bested the world for thousands of years on nearly every front, with a slight hiccup in the 19th century. not a new phenomenon

For the greater part of history, China has been an isolationist country though.

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Posted

China is also going through a pretty gnarly fascist phase.

Not really good to have your world superpower be fascist. See: WWII.

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Posted

Back in the day, Henry Ford needed to have a well paid American middle class to afford his product. Without them he couldn't achieve the wealth he desired. He made sure his employees were well paid not because he was a good American but because he directly or indirectly benefitted from it.

The reason many Americans are now finding it harder to secure decent paying jobs is because of a fundamental change in the American economic system since Henry Ford's time, mostly in the last 30 years.

Today the American financial sector is largely calling the shots when it comes to our country's economic policies. Those policies encourage off shoring of jobs and investments. A robust American middle class is not nearly as important as it once was to Henry Ford (regardless of any rhetoric PACs might be dispensing to the contrary thanks to Citizens United).

Americans will see continued growth in low paying service sector jobs as we have for the last 30 years, but it is highly unlikely that there will be a return of enough high paying manufacturing jobs to our shores to stave off China becoming the world's # 1 economy. That is because those Plutocrats that control our politics and policies benefit most financially when labor costs are significantly mitigated by off shoring jobs and production whenever possible.

The power structure of the United States is now tilted so much in favor of the Plutocrats that neither party is contemplating any serious economic reforms of our financial system to encourage real middle class job growth. In fact the GOP is pushing for more of the same deregulation and taxation policies that got us into this current mess in the first place.

No worries though, America's moneyed interests will do quite well, maybe even better, once China becomes the largest economy. American plutocrats are well positioned to flourish just like their European counterparts have since the sunset of Europe's economic dominance a century ago.

Don't believe me? 93% of all economic gains since 2008 have gone to the top 1% of Americans. Clearly demonstrating what happens to the general US population economically no longer has the same financial impact on the wealthiest Americans that it once did. Of course, it never hurts to socialize losses and privatize profits via the American taxpayer, the largest welfare program in American history.

Bottom line is this: Americanism/Nationalism is an increasingly antiquated concept, not nearly as important as Globalism, especially if you are part of the ruling Plutocracy.

I really hope that you are not right wing. That is the only half-way intelligent post about the economic system that I have read on this site. Kudos

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