Nice post but I don't think globalization is doing as much damage as the policy is. The jobs lost can be easily replaced with new ones if the environment welcomes it.
. On Thu, Apr 28, 2011 at 7:08 PM, Robert Munn <cfmuns...@gmail.com> wrote: > > Of course he's a Democrat. He'll never survive Iowa. I wonder if he > thinks he can actually win the nomination or if he has his same old > agenda - self-promotion. > > Spending is not the issue, it is a symptom of a much larger, global > problem that is now the elephant in the room in US political > discourse. There is no good way out of our current predicament. We > can't just dial back spending and fix the economy. I believe that > globalization is going to continue to accelerate and further hollow > out the middle class. Cutting spending, especially focused on social > programs for the poor rather than retirement benefits for the elderly, > risks creating a society stratified into a relatively well-off retired > population and an increasingly desperate young working population. And > that's a recipe for a revolution. > > Which is why so much effort is now being focused on saving the current > system, even though it is clearly broken. I'm now thinking that we're > in Libya because of currency. Gaddahfi was talking about creating a > gold-backed dinar among oil producers and Muslim nations that would be > the only currency they traded oil for. Remember, we're locked in a > symbiont system with the oil producers and other producer nations of > the world. It all works through and because of the dollar. But the > dollar has been under sustained assault by China and other nations > through exchange rate manipulation. Seen in this light TARP, QE/QE2, > and the stimulus are all just attempts by the US to correct the > imbalance by depressing the value of the dollar in an attempt to > offset currency manipulation by China, et al. > > Or consider it a different way. What do we consider the US economy? Is > it all the economic activity inside the US? I tend to think of the > "US" economy as all transactions conducted in US dollars, or the > extended US economy to include value chains like manufacturers in > China and service providers in India who sell into the US market. > Expanding the money supply to cover this larger definition of the > economy provides an explanation about why we can run deficits and > print money. The whole system is just too fragile and too many > self-interested parties are assaulting it at a structural level. > That's why it's ultimately going to fail. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:337170 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
