Second highest deficit on record?

[Alias 0]

http://www.businessweek.com/ap/financialnews/D8CJCSD86.htm?campaign_id=apn_home_down&chan=db


Inflation creeping up - Almost 700 B in trade deficit this year! SHIT! 29 percent increase in deficit with China then last year - Unfair trade policies? How long will this continue? Why did we continue to allow China to flood our markets and destroy American companies?

WTF?

Carpe Diem

[wmw999 2,556]

We're OK. We still have checks in the checkbook, and some credit limit left. We NEED these things.

Pity there isn't a Country Credit Counseling Service like there's a Consumer Credit Counseling Service

Wendy W.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[quade 4]

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Why did we continue to allow China to flood our markets and destroy American companies?

Pretty easy to blame China when the real fault lays with ourselves.

I think the question your ought to be asking is, "Why did we allow companies to ship jobs to China and other countries?"

Doing so hurts us more than twice.

quade -
The World's Most Boring Skydiver

[kallend 2,114]

It's administration policy to outsource:

"Outsourcing of professional services is a prominent example of a new type of trade. The gains from trade that take place over the Internet or telephone lines are no different than the gains from trade in physical goods transported by ship or plane.When a good or service is produced at lower cost in another country, it makes sense to import it rather than to produce it domestically. This allows the United States to devote its resources to more productive purposes."

Council of Economic Advisors, in Economic Report of the President, 2004.

...

The only sure way to survive a canopy collision is not to have one.

[Alias 0]

Agreed. My issues are with the continued trade deficits we allow. Jobs off shore, cheap chinese goods are just for starters. Can't blame the ChiComs for taking advantage of holes we allow.

Sure we're OK. Almost all deficits at all time highs, in red everywhere I turn and it only recently seems like we are ready to do somthing about it.

Carpe Diem

[Pendejo 0]

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Why did we continue to allow China to flood our markets and destroy American companies?

I agree!! Something has to be done!!

I know...... lets build this REALLY big wall around the country to keep those bastards out.... Oh... Wait... Thats been done before....


Here's an idea.

How about we stop bitching like little children about something that our economy is based on (that would be competition) and come up with a way to compete with them

No wait.... You guys are right.... We should just shut them out.

Pendejo

He who swoops the ditch and does not get out buys the BEER!!

[Alias 0]

Overall US-China trade expanded by the largest margin in a decade

http://www.uschina.org/statistics/tradetable.html
See a trend here?

China posted a trade surplus at the end of 2004. The US no where close......

....no worries

Not shut them out - create a "fair" playing field - not a new concept

Carpe Diem

[Amazon 7]

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Sure we're OK. Almost all deficits at all time highs, in red everywhere I turn and it only recently seems like we are ready to do somthing about it.

Hmm maybe we need another tax cut.. to "stimulate" the economy further.

Seems the current powers that be really do belive this is good for the economy... tax cut and then spend more..

Cant you just feel the trickle down splashing on your head yet??

[EricTheRed 0]

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Cant you just feel the trickle down splashing on your head yet??

What? You don't like being pissed on?

illegible usually

[TVPB 0]

Globalisation.

Profits.

International Corporations.

The ever increasing divide between the rich and the poor.

Greed.

Materialism.

Lack of faith.

Your business and political leaders are filling their pockets with loot NOW, whilst ignoring future generations. It is about today and the next election and not the lives of our future children.

It is hard to compete with foreign entities/countries when you are spending BILLIONS of dollars on industries that are not self sustaining. Add the fact that you are paying the leaders extraordinary amounts of money to make decisions where the outcomes range from crap to exceptional.

That is what co called capitalism/freedom/democracy gives you.

As an individual, your objective is be in the wealthy minority. But beware of the revolution. It is only a matter of time.

Social policy at the cost of profits would improve the situation.

p.s. eventually even China will reach a point where the population will have attained a standard of living that is unsustainable. But that might not happen for 100 years. It is time to move over and let a new world champion take control. For that is life. Cycles. Time.


p.s. it is ironic that most USA Govt bonds are in the hands of the Japanes and Chinese at the moment. Imagine if the Muslims became a large player as well. Where would the control disappear to then?

Seems like too many rach decisions being made in recent times. Hopefully you will recover.

Stay Safe - Have Fun - Good Luck

The above could be crap, thought provoking, useful, or . . But not personal. You decide.

[Everon 0]

Yes, he cut taxes but in the wrong places. Corporate America is doing just fine, and the lower-middle classes are not. The key to stimulating any economy is to completely cut the capital gains taxes on small emerging growth companies for example 2 years, so they can focus on R&D and expansion. These are the future intels and ciscos and they create decent jobs rapidly. This hasn't been done.

[SkyDekker 1,465]

Cina, what do those commie bastards know about economy and trade and money......

[kallend 2,114]

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Cina, what do those commie bastards know about economy and trade and money......

"We owe Japan over $700 billion. We owe China, now, almost $200 billion. I am reading a book on George Washington. He would be turning in his grave to think our country owes Great Britain $171 billion." Sen. K. Conrad (N.D.).

Foreigners are financing Bush's spending spree to the extent of around $1.3Billion every day.

...

The only sure way to survive a canopy collision is not to have one.

[billvon 3,085]

>Foreigners are financing Bush's spending spree to the extent of
> around $1.3Billion every day.

Yep. And with debt comes obligation.

[Gawain 0]

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Inflation creeping up - Almost 700 B in trade deficit this year! SHIT! 29 percent increase in deficit with China then last year - Unfair trade policies? How long will this continue? Why did we continue to allow China to flood our markets and destroy American companies?

WTF?

WTF indeed...if you read the article a little more thoroughly, you'd also notice the following:

Quote

In other economic news, inflation at the wholesale level rose by 0.6 percent in August after an even bigger 1 percent gain in July. Both months reflected a surge in energy prices.

Energy costs at the wholesale level were up 3.7 percent in August following an even bigger 4.4 percent July rise. However, inflation outside of energy remained well contained last month. So-called core inflation, excluding energy and food, was frozen in August, the best showing in nearly two years.

Helping to keep inflation moderate, food costs at the wholesale level dropped for a fifth month in a row while prices of new passenger cars decreased by 1.3 percent, the biggest drop in 13 months.

Now, bear in mind that energy increases will not continue at this constant rate. Inflation is going well overall. A bigger factor may be in real estate and the possible "boom" in the wake of Katrina. On the flip side of that, some food prices will go up.

Also remember that there is indeed unfair trade policies in place with China. With their currency regulation, they have a solid wholesale discount at about 30% over what an American company can manage. At some point, China will have to de-regulate their currency on the world market and when that happens, their discount advantage will almost vanish overnight.

How long will this continue? I do not know, and your notice of the overall picture is commendable, but ours is the only economy in the world which will be able to adjust to whatever comes in place with relation to trade with China, the price of oil or the cost of real estate or containing inflation.

Newsworthy, yes. Destructive, I don't think so at this time. The end, no.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!