Comments on: Why The U.S. Should Be Worried http://www.ustvmedia.org/the-american-revolution-is-it-over/2007/01/07/why-the-us-should-be-worried/ Sun, 12 Feb 2012 02:11:26 +0000 http://wordpress.org/?v=2.0 by: katie s http://www.ustvmedia.org/the-american-revolution-is-it-over/2007/01/07/why-the-us-should-be-worried/#comment-10842 Sun, 14 Jan 2007 01:09:26 +0000 http://www.ustvmedia.org/the-american-revolution-is-it-over/2007/01/07/why-the-us-should-be-worried/#comment-10842 As more and more factories are exported to China, and then the products imported back into the US for consumption, unemployment rates are on the rise. While I'm also not an economist, importing more than you can produce is unsustainable, and it doesn't matter how much we are relied on as a market for imports if no one has any money to purchase the goods. There are only so many times you can refinance your mortgage before it comes back to bite you in the ass. As the value of the dollar continues to decline, many countries (i.e. Japan and China) "have begun to shift the balance of their new foreign currency reserve purchases away from the dollar and into the euro" (http://www.chinaworker.info/cgi-bin/index.cgi?action=printtopic&id=215&curcatname=Economy&img=economy.). This could quite possibly produce catastrophic effects for our overconsumptive way of life, including higher interest rates and an end to the cheap credit we currently thrive on. For the average person, borrowing imaginary money for higher and higher interest rates for bigger houses and gargantuan vehicles should not be a way of life in a supposed "superpower" nation. P.S.- David Teem, associate director of the Alabama Agricultural Experiment Station projected in 1992 that American food production was facing a growing crisis, as rising production costs were not meeting stagnated profits from farm goods. For anyone living in rural and suburban areas of Ohio, this is very clearly evidenced in the massive amount of farm land for sale and the slow creep of urban sprawl. Couple that with the aforementioned raising interest rates. and there won't be anyone to purchase the mass of new houses popping up. As more and more factories are exported to China, and then the products imported back into the US for consumption, unemployment rates are on the rise. While I’m also not an economist, importing more than you can produce is unsustainable, and it doesn’t matter how much we are relied on as a market for imports if no one has any money to purchase the goods. There are only so many times you can refinance your mortgage before it comes back to bite you in the ass. As the value of the dollar continues to decline, many countries (i.e. Japan and China) “have begun to shift the balance of their new foreign currency reserve purchases away from the dollar and into the euro” (http://www.chinaworker.info/cgi-bin/index.cgi?action=printtopic&id=215&curcatname=Economy&img=economy.).
This could quite possibly produce catastrophic effects for our overconsumptive way of life, including higher interest rates and an end to the cheap credit we currently thrive on.

For the average person, borrowing imaginary money for higher and higher interest rates for bigger houses and gargantuan vehicles should not be a way of life in a supposed “superpower” nation.

P.S.- David Teem, associate director of the Alabama Agricultural Experiment Station projected in 1992 that American food production was facing a growing crisis, as rising production costs were not meeting stagnated profits from farm goods. For anyone living in rural and suburban areas of Ohio, this is very clearly evidenced in the massive amount of farm land for sale and the slow creep of urban sprawl. Couple that with the aforementioned raising interest rates. and there won’t be anyone to purchase the mass of new houses popping up.

]]> by: Realpolitesse http://www.ustvmedia.org/the-american-revolution-is-it-over/2007/01/07/why-the-us-should-be-worried/#comment-10673 Sun, 07 Jan 2007 17:16:13 +0000 http://www.ustvmedia.org/the-american-revolution-is-it-over/2007/01/07/why-the-us-should-be-worried/#comment-10673 Worry away, America, but how much will other nations choose to prop us up and perpetuate the status quo, rather than smash us into third-world oblivion? We are the market for their goods, especially the exports of our main creditors, China and Japan. American consumption is the engine driving the world economy, and American recession triggers global recession, or so the economists say. Here is an interesting statement from another foreign-press article posted on this site (The War That Ended America's Century): "The global economy depends still on the greenback and, more importantly, on the capacity of the US to swallow everyone’s debts." I do not have a Nobel Prize in economics (and neither do you), but my suspicion is that what is frighteningly unsustainable is the total global growth-based economic system, of which American debt is just one peculiar aspect. When the system fails, by oil shortage or ecological collapse (both symptoms of overpopulation), everyone gets poor, not just the USA. P.S. The US is still a superpower in terms of food production, the original measure of wealth, for what that is worth. Worry away, America, but how much will other nations choose to prop us up and perpetuate the status quo, rather than smash us into third-world oblivion? We are the market for their goods, especially the exports of our main creditors, China and Japan. American consumption is the engine driving the world economy, and American recession triggers global recession, or so the economists say.

Here is an interesting statement from another foreign-press article posted on this site (The War That Ended America’s Century): “The global economy depends still on the greenback and, more importantly, on the capacity of the US to swallow everyone’s debts.”

I do not have a Nobel Prize in economics (and neither do you), but my suspicion is that what is frighteningly unsustainable is the total global growth-based economic system, of which American debt is just one peculiar aspect. When the system fails, by oil shortage or ecological collapse (both symptoms of overpopulation), everyone gets poor, not just the USA.

P.S. The US is still a superpower in terms of food production, the original measure of wealth, for what that is worth.

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