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Offshore economy will not let US off its knees
Published: 26 February, 2010, 09:55
Edited: 22 May, 2010, 23:33
According to Charlie Munger, long-time business partner of American investor Warren Buffett, the US economic empire is crumbling before our eyes, thanks to federal debt and poor planning.
I guess that a new US embasy in London, worth of 1 billion USD, willl cure US economy. Some of top US authorities have analysed, calculated, and contemplated over the issue and finaly came out with the conclusion that this is just the right time to announce that another billion will be spent for new embasy. I mean, don't take me wrong: I am also among those who believe the timing is very good indeed and that 1 billion US embasy is just what US citizens need now.
LOL Vladimir, that new embassy will be just what US citizens need if we are the ones building it! I just don't see the English bringing in American construction workers, tho. (I could be wrong? . . . nah.)
My advice to Russia , avoid the WTO unless an agreement gives no advantages to low wage countries and there is a guaranteed balance of trade with any nation you are trading with. Absolutely do not agree without equalization of wage scales through tariffs or your people will suffer. Also impose higher tax rates and punitive measures for any company moving plants out of the country. If trade agreements are not controlled your country will be gutted of all manufacturing capabilities. America as a country has not benefited at all from free trade, it has destroyed the middle class, raised debt to incredible levels and if we continue down this same path one by one all our institutions will fall. All this in the name of insatiable corporate greed. Best advice to Russia, trade only with countries that you can compete with.....Free trade is not free, check out America and don't make the same mistakes.
Americans have no idea how corrupt their government really is . The hypocrisy is astounding when I hear Hillary Clinton chastising Iran over enriched uranium and I keep reading stories of birth defects , stranges cancers , etc. from depleted uranium in Iraq . Why does America continue to produce weapons with depleted uranium , but criticize countries who want to use atomic energy for the domestic use of its citizens ? The only good jobs left in the U.S. are jobs in the Defense industry . The state of Illinois has over 2,500 defense contractors . That is just one state ! Many of these defense projects are intentionally spread out over several states to spread the jobs out and make it harder for any one state to object . No American politician wants to appear to be against job creation . So even if you consider weapon production to be immoral , you are seen as unpatriotic if you don't support those projects .
The money has been too good NOT to outsource everything, when labor in other countries is one-tenth what it costs in USA. Problem is, those companies doing that still expect to sell goods in what used to be the richest market in the world. Ooops, it is no longer rich because everybody has been laid off. Time to look for another market! I hear Ford and GM are doing well in China . . . Meanwhile the dried up husk of America will be left twisting in the wind. Just like all other ex-rich markets over the centuries, we will have to re-invent ourselves after a rather painful self-assessment. If we survive. And those barons of capitalism, who used to be American, are now "globalists" and interested only in which market they can exploit next. Too bad we only have one world to play in, eh?