20 reasons the economy is dying

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need anymore reasons?
 
Cat food.
chincy plastic handles on hose end sprinklers.
Sticky Zippers on upholstery covers.
Wrong sized cup lids at McDonalds.
A kitten in the lawnmower.
Spring showers.

And the list goes on but you get the idea.
 
I agree, immigration needs to be reviewed, we need to stop the job loss to Asia and India, and the entire globalization thing needs to be reviewed so America and her future are protected.
 
The economy currently redistributes more money out of America than it brings in. Couple that with the lack of a recent World War to ravage Europe and Asia and go figure the standard of living in the rest of the world is catching up.
 
I agree. It was terrible they needed to bail out the big banks. Apparently this domino effect of one bank failing ruining a dozen others, overtaxing the FDIC and leading to more calls for real socialism was more than most of those in power were willing to risk.

No need to extend the welfare to a small bank.
 
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Once again. Too big to let fail is too big to let exist.
Let them fail and the smaller ones cover things.
We would have seen tremendous growth in the smaller banks.
which would have sold well to investors as well as statistics for politicians to spin in their favor.

I fully agree. Also these big banks did not just suck the country dry with credit swaps, bad mortgages and bailout bs. I noticed when reading through expenses of the federal government the bank guarantees are the largest bills that this country pays out each and every year.

I galls me to no end to know that the federal government paid Wells Fargo over six hundred thousands dollars when they knew damn well the bank committed absolute fraud on my SBA loan. If they did that on one small business loan they have done it on others. The American public has been continually bent over while banksters set themselves up as kings while stripping the public coffers. HUD was known to have problems during Clintons watch and they buried the people that tried to expose what was happening in the housing markets then.

As we were cleaning up at the mine I had a trucker bring over a few loads of gravel to our house. We got to talking and he told me about his farm. He lost it in the 80's when these same banksters were talking out family farms right and left. The bank had committed fraud and he knew it but could not find anyone to help him. His family had been original settlers and it really hurt him that he lost what his family had settled in the 1800's.

Rod's family settled in this area also in the 1800's. The PCA tried to work a fraud deal to steal an uncles farm in the late eighties. The uncle had been sick and they thought they would waltz in claim payments had not been made and take 300 acres. Thank God his children were able to assist their mom in fighting off these thugs. When they brought forth all the payment records and threaten to sue PCA, PCA backed down. They had over charge those older people over twenty thousand dollars on that loan. The loan had been paid in full two years previously.

Unethical people have taken this country to it's knees and from the looks of things it is not going to get better too soon but much worse.
 
I agree, immigration needs to be reviewed, we need to stop the job loss to Asia and India, and the entire globalization thing needs to be reviewed so America and her future are protected.

Reviewing globalization is like reviewing sunrise. You aren't going to change it. We will not become more competitive but erecting tariffs, but less competitive.
The US in fact is a net importer of jobs from other countries (or was until this recession). We benefit from globalization.
as for the article, it is hard to take seriously when the 20th point is about our "wickedness." That's just bizarre. But then again a blog titled economic collapse is bizarre. There is no end of doomsayers.
The US will recover once the clown in the white house is stripped of any real power and we resume gridlock status. Currently the dangerous schemes hatched daily by this administration are keeping businesses from hiring or expanding.
 
I guess Rabbi, I look at NAFTA, and what some of the union heads discussed for big auto. They took away all those jobs out in the Midwest, and gave them south of the border, and you lost millions of people here that could buy product. And none of the people south of the border could afford to buy product (a new car). The impact of globalization has had a huge impact on the welfare of the American worker and business, and why salaries remain depressed across the board.

I think some leadership and some harsh reforms could lead to slowing down or providing some shield for that impact, and I don't believe tariffs are what I was alluding too. This will be the second job I will be losing because of offshoring the product since Clinton. I have a few months left before the transition, and I'll be honest, I will be forced into a career change.

I agree with US Citizen, it may be too late to address globalization.
 
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need anymore reasons?

I think you left out a few things:

Iraq

Afghanistan

1.3 trillion in tax cuts, mostly for the very wealthy

Number one cause of bankruptcy - health care costs

Jobs moving overseas

Just keeping it real.
 
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#1) Do you remember that massive wave of subprime mortgages that defaulted in 2007 and 2008 and caused the biggest financial crisis since the Great Depression? Well, the "second wave" of mortgage defaults in on the way and there is simply no way that we are going to be able to avoid it. A huge mountain of mortgages is going to reset starting in 2010, and once those mortgage payments go up there are once again going to be millons of people who simply cannot pay their mortgages

Likely true.

#2) The Federal Housing Administration has announced plans to increase the amount of up-front cash paid by new borrowers and to require higher down payments from those with the poorest credit. The Federal Housing Administration currently backs about 30 percent of all new home loans and about 20 percent of all new home refinancing loans. Tighter standards are going to mean that less people will qualify for loans. Less qualifiers means that there will be less buyers for homes. Less buyers means that home prices are going to drop even more.

If true then those predicts seem sound

#3) It is getting really hard to find a job in the United States. A total of 6,130,000 U.S. workers had been unemployed for 27 weeks or more in December 2009. That was the most ever since the U.S. government started keeping track of this statistic in 1948. In fact, it is more than double the 2,612,000 U.S. workers who were unemployed for a similar length of time in December 2008. The reality is that once Americans lose their jobs they are increasingly finding it difficult to find new ones. Just check out the chart below....

This is the vicious cycle of depressions.

#4) In December, there were also 929,000 "discouraged" workers who are not counted as part of the labor force because they have "given up" looking for work. That is the most since the U.S. government first started keeping track of discouraged workers in 1949. Many Americans have simply given up and are now chronically unemployed.

More than that, I'll wager
#5) Some areas of the U.S. are already virtually in a state of depression. The mayor of Detroit estimates that the real unemployment rate in his city is now somewhere around 50 percent.

There are places in the USA that have been in a depression since I was a kid and before that, too.

Ther's just going to be a lot more of them if things don't turn around.

#6) For decades, our leaders in Washington pushed us towards "a global economy" and told us it would be so good for us. But there is a flip side. Now workers in the U.S. must compete with workers all over the world, and our greedy corporations are free to pursue the cheapest labor available anywhere on the globe. Millions of jobs have already been shipped out of the United States, and Princeton University economist Alan S. Blinder estimates that 22% to 29% of all current U.S. jobs will be offshorable within two decades. The days when blue collar workers could live the American Dream are gone and they are not going to come back.

This is, for my money the ROOT CAUSE of every economic wie we are currently facing.

FREE TRADE is anything BUT free.

It makes a very small segment of our population very wealthy but in the aggregate ourcome is that the nation as a whole becomes POOR.

#7) During the 2001 recession, the U.S. economy lost 2% of its jobs and it took four years to get them back. This time around the U.S. economy has lost more than 5% of its jobs and there is no sign that the bleeding of jobs is going to stop any time soon.

The uthor is merely repeating the problem couching it in different terms.

#8) All of this unemployment is putting severe stress on state unemployment funds. At this point, 25 state unemployment insurance funds have gone broke and the Department of Labor estimates that 15 more state unemployment funds will likely go broke within two years and will need massive loans from the federal government just to keep going.

Yeah this appears to me to be a looming problem that nobody is addressing because, I think, they have no solution to it.

#9) 37 million Americans now receive food stamps, and the program is expanding at a pace of about 20,000 people a day. The United States of America is very quickly becoming a socialist welfare state.

True. Facing a choice between people starving in the streets and feeding them, I think we're making the right choice, too.

#10) The number of Americans who are going broke is staggering. 1.41 million Americans filed for personal bankruptcy in 2009 - a 32 percent increase over 2008.

Thank god we changed the bankruptsy laws, eh?

Otherwise these people might get a second chance. Now they're still beholding to the creditors such that they can never get out of the hole.

#11) For decades, the fact that the U.S. dollar was the reserve currency of the world gave the U.S. financial system an unusual degree of stability. But all of that is changing. Foreign countries are increasingly turning away from the dollar to other currencies. For example, Russia’s central bank announced on Wednesday that it had started buying Canadian dollars in a bid to diversify its foreign exchange reserves.

This was inevitable.

#12) The recent economic downturn has left some localities totally bankrupt. For instance, Jefferson County, Alabama is on the brink of what would be the largest government bankruptcy in the history of the United States - surpassing the 1994 filing by Southern California's Orange County.

So much for LOCAL government being the BEST government, eh?

#13) The U.S. is facing a pension crisis of unprecedented magnitude. Virtually all pension funds in the United States, both private and public, are massively underfunded. With millions of Baby Boomers getting ready to retire, there is simply no way on earth that all of these obligations can be met. Robert Novy-Marx of the University of Chicago and Joshua D. Rauh of Northwestern's Kellogg School of Management recently calculated the collective unfunded pension liability for all 50 U.S. states for Forbes magazine. So what was the total? 3.2 trillion dollars.

I can only thank GOD that I never had a decent enough job to even have a pension to count on.

Imagine how disappointed I might be to discover there wasn't anything there.

#14) Social Security and Medicare expenses are wildly out of control. Once again, with millions of Baby Boomers now at retirement age there is simply going to be no way to pay all of these retirees what they are owed.

Take heart... Social security is a sound as the dollar.

#15) So will the U.S. government come to the rescue? The U.S. has allowed the total federal debt to balloon by 50% since 2006 to $12.3 trillion. The chart below is a bit outdated, but it does show the reckless expansion of U.S. government debt over the past several decades. To get an idea of where we are now, just add at least 3 trillion dollars on to the top of the chart....

Being the world's policeman doesn't come cheap, does it?

#16) So has the U.S. government learned anything from these mistakes? No. In fact, Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $2 trillion to pay its bills, a record increase that would allow the U.S. national debt to reach approximately $14.3 trillion.

Governments --robbing Peter to pay Paul since civilization began

#17) It is going to become even harder for the U.S. government to pay the bills now that tax receipts are falling through the floor. U.S. corporate income tax receipts were down 55% in the year that ended on September 30th, 2009.

Allowing corporations to move their HQ offshore to avoid paying US taxes probably wasn't such a good idea, after all, was it?

#18) So where will the U.S. government get the money? From the Federal Reserve of course. The Federal Reserve bought approximately 80 percent of all U.S. Treasury securities issued in 2009. In other words, the U.S. government is now being financed by a massive Ponzi scheme.

Get in early, says I. That's how it worked out so well for Ponzi.
#19) The reckless expansion of the money supply by the U.S. government and the Federal Reserve is going to end up destroying the U.S. dollar and the value of the remaining collective net worth of all Americans. The more dollars there are, the less each individual dollar is worth. In essence, inflation is like a hidden tax on each dollar that you own. When they flood the economy with money, the value of the money you have in your bank accounts goes down. The chart below shows the growth of the U.S. money supply. Pay particular attention to the very end of the chart which shows what has been happening lately. What do you think this is going to do to the value of the U.S. dollar?....


At the risk of repeating myself, I note that the author is repeating himself.

#20) When a nation practices evil, there is no way that it is going to be blessed in the long run. The truth is that we have become a nation that is dripping with corruption and wickedness from the top to the bottom. Unless this fundamentally changes, not even the most perfect economic policies in the world are going to do us any good. In the end, you always reap what you sow. The day of reckoning for the U.S. economy is here and it is not going to be pleasant.

The nation practiced EVIL?

After over two hundred years you'd think we wouldn't need to practice anymore.
 
I guess Rabbi, I look at NAFTA, and what some of the union heads discussed for big auto. They took away all those jobs out in the Midwest, and gave them south of the border, and you lost millions of people here that could buy product. And none of the people south of the border could afford to buy product (a new car). The impact of globalization has had a huge impact on the welfare of the American worker and business, and why salaries remain depressed across the board.

I think some leadership and some harsh reforms could lead to slowing down or providing some shield for that impact, and I don't believe tariffs are what I was alluding too. This will be the second job I will be losing because of offshoring the product since Clinton. I have a few months left before the transition, and I'll be honest, I will be forced into a career change.

I agree with US Citizen, it may be too late to address globalization.

Actually you gained millions of people because the cars being sold could be sold for less than if they had been produced in Detroit.
WHat kind of "harsh reforms" would change this dynamic? Tariffs? Quotas? They are all the same thing, raising prices for US consumers.
You can address globalization in the same way you can address sunset or the tides.
And here's Heritage on the subject. For every loser in NAFTA there were many winners, all American.
The Effects of NAFTA on Exports, Jobs,
 
How about this!

(1) 0% taxation on corporations in American!:
Look at the wonders the 0 Corporate tax has done for Dubai (before it took a housing dip)and look at the wonders the lowest corp law in Europe has done for Ireland! A 0% corporate tax would have business flooding to America.

(2) Eliminate the income and payroll tax:
This would make our small businesses very very competitive. Especially against the folks South of the border!
BOTH CAN ONLY BE ACCOMPLISHED ONLY VIA THE FAIR TAX!

(3) Property Taxes Cap:
Stop the injustice on the States imposing killer property taxes! We have some of the highest property taxes in the world. Its absolutely killing homeowners! There needs to be caps and better dispute process.

(4)Appoint an economic czar:
But it should be someone with proven creditenials (esp one who didn't get caught cheating on his taxes) , such as Buffet!

(5) State and Federal Pension Funds:
They should be made illegal. Back in the 50s and 60s 90%+ of business had a worker's pension plan. Less than 1% of private businesses have them now, simply because they are unsustainable. The 10,000 pound elephant in the room during the GM BK was the gianormous pension plan obligations. Private businesses had to end it because it was simply unsustainable. But the Fed and State goverments are still using them. They are funding them off the backs of the tax payor! This is robber. These unsustainable plans put way too much burden on state budgets. Look at any state and you will see that the pensions plans make up more than half of most budgets.

(6) Tarriffs:
Selective use of Tariffs for strategic and endangered industries to prevent their loss. I am very shaking in this one because it goes against a lot of what I believe in and I am a very aware of the effect of the Hawley-Smoot Anti-Tariff's effect in the '20s. But it should at least be looked into. Funny how China uses tarriffs against us, but we don't against them:confused:!

(7) WTO:
Withdraw from the WTO. It doesn't benefit us. It creates agreements that hurt us! We should only consider remaining in it, if we can benefit off it. Listen to Ron Paul on this one, "Its not free trade, if it takes away any advantages to the US and gives it all to the other quote unquote trade partners."

(6) Control our Balance of Trade Deficit: ==> Yes I know easier said than done. But it should an objective not a fantasy!

(7) International trade Agreements:
Analyze every international trade deal. Again listen to Ron Paul, "ask yourself does it benefit America? If the answer NO, then either renegotiate it or eliminate it." Currently most our deals do not. Such as NAFTA and CAFTA! Replace Free trade agreement with ones that actually benefit America and Americans. Also use the Duncan Hunter mirror tactics. If a country uses a block against us, then we mirror that against them. China for example has tarriffs and taxes on some US imports to China, yet we have nothing countering it for their goods.

(8) Outsource Manufacturing and Technology:
We should attempt to discourage technology transfer and outsourcing manufacturing if it causes us to lose industries. 0% taxation via the fair tax would accomplish this, in conjunction with selective tarriffs and reduced regulations!

(9) Enforce Illegal Immigration Law:
Start with the employers, hospitals, sanctuary cities and landlords. Employers pay illegals pennies for jobs that American citizens can do. It hits all sectors of the agriculture, construction and even manufacturing sector. Yes it saves us money at the store, but it also reduces wages all the way around. Hospitals and schools, especially in CA, AZ, NM and TX, give a lot of free services to Illegals and Americans end up fronting the bill. Why are healthcare and education costs so expensive, hospitals and schools like every American business, needs to make up for losses they incure. When we give free healthcare and education to illegals, they are 100% losses on the hospital's and school's books. Look at CA right now the illegal immigrant center! They are bankrupt! Imagine if you paid taxes in CA right now and the CA government gave you an IOU for your return, yet you pay the highest taxes in the nation. It is said that it the CA government cut off all Illegals from healthcare, education, welfare and unemployment then CA would have a budget surplus!

(10) Energy!!!
Drill here Drill now. I saw a report that we have more domestic oil reserves than Saudi Arabia, Iran, Iraq and Venezuela, yet we don't tap into it. The high gas prices bleeding us dry. I know prices have come down, but remember when they were $5 a gallon, it bled me dry. It will go back up sooner or later. Drill in ANWR, drill off the coast lines, drill in UT, NV & WY and drill in the oceans! In the meantime push big time for alternative fueled automobiles that don't run on our food supply (aka no ethanol!). Build more refineries! Build more nuclear power plants. Lastly, but not least, outlaw future trading of oil. This has driven up the price of oil more than the scarcity of oil. To he11 with the free market on oil future trading, its killing us! And for god sake make a real push for electric cars. I pray the Volt, Tesla Model S, the Ford, Honda and Mitubshi electric cars take off.

(11) Promote education! Based in intelligence and behavior!
And educated work force competes globally. It shouldn't start in college it should start when they are growing. The hell with the PC of treating all children the same, when they turn to adults they will find out quickly (as all of us have) that the world treats us based on the merits of your intelligence, drive, personality, looks, friendships and achievements.

First, No more free education to illegals. Look at CA free education and healthcare has sunk them
Second, Have schools sectioned off by intelligence and valid scoring system. Give teachers and schools more power to take actions against disruptive students. Teachers and schools should have more power to remove students that are disruptive to children that want to learn. School should be a year round affair. Promote math and science more, giving more credits to this classes as incentive. Teach business in school including introduction to the stock market and world economy. Education is where it starts.

Here is how my system works. All children go to general schools starting form 4-8, during this time each child in evaluated while in the class room by specialist. At age 6 the children are split into 5 schools. 1st one is for the genius with low behavior problems. 2nd is for smart, but not genius level with low behavior problems. The 3rd is well the not so smart, but low behavior problems. The 4th is good intelligence but behavior problems and the 5th is the no so smart and behavior problems. Obviously there would be multiple schools for each level. Each school would be geared towards the child. Obviously the geniuses would have more math, science etc. And the low intelligence behavior problem would be gear more towards labor and other jobs and have a more military type approach. From 6-8 they are still evaluated and could move either up or down. Them after that they could still move up or down, but not as easily. This would take a whole thread, so I will stop here.

(12) Curtail subsidies foreign owned companies receive from our State Governments and Knock off the tax incentive and tax shelters for companies that go overseas:

Its bullshit!
 
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I read your link Rabbi, and I hope you have something more current. 90s data not helping us today.
 

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