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Love can both create a blueprint and fertlize it, sex can only fertilize a pre-existing blueprint, sex cannot write blue prints, where Love is good at all things.
sex can be great but Love is always better.
Posts: 2752 | Registered: Feb 2001
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I am taking 10 years off to decide who to marry, so Storm, as I take applications and proposals, I probably won't be making a choice for about 7 more years.
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I don't know, I don't think I entirely disagree with Snow. A falling dollar's going to screw us over as consumers, but (ideally) it should help us narrow the trade deficit -- lessening the dollar's value will encourage foreign investment in the US, and should help produce jobs. It's definitely a good sign the American consumer should start hibernating, but both the trade and the fiscal deficit/debts are insane enough that we should be nurturing what this country can produce, not what it can consume.
Of course, that's just an ideal. The reality is probably that prices will hike for consumers and production will continue being sent overseas. What fool would invest in the US? Tech jobs are impossibly cheaper to send to India, manufacturing to China, textiles to Latin America, cars to Japan, farming (sans subsidies) anywhere else. What does the US have going for it but, what, R&D in medicine, weapons systems, what else? And there's no guarantee even those jobs will stay in this country, and no particular reason why they would once Asia and India step up on public education. Investors need a reason to invest in this country, and I can't particularly think of one to suggest to them.
A falling dollar will at least make us cheaper overseas, even if it screws us over at home. Narrowing the trade deficit's a good place to start, and may lead to American growth in the international market, which should help us out with job production. I don't see it happening, but maybe the US can develop some field of production that can't be sent overseas. And maybe the all-Republican government will stop being so fiscally insane and try to work down the debt. And maybe I'll grow wings.
Crap, if I don't take out a loan now, this is gonna burn me as a college student...
Posts: 3293 | Registered: Jul 2002
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I'm currently writing a ten page paper on this very topic for an economics class, have already done a PowerPoint on it in for the same class--and we just studied it in International Finance.
While Snow seems to be either a bit pessimistic or something of an alarmist, he isn’t that that far off from describing what is very likely to occur. In fact, I subtitled my PowerPoint “The Economic Armageddon Just Around the Corner;” mainly to catch people's eyes, but partly because that is what we could be facing.
Here’s an excellent site for the topic (and just about any other macroeconomic subject); just click on “Is the U.S. Current Account Deficit Sustainable?” which is under the “Hot Topics” section on the far right. The best paper on the subject that you could possibly read is the one titled “The US as a Net Debtor: The Sustainability of the US External Imbalances;” unless you’re really into the topic (or in an International Finance class like me ) just read the executive summary—the paper itself is 60 pages.
I’ll post more on this topic later in the day; it’s a very important problem that the vast majority of Americans seem to know very little about, unless they follow economic news—there’ve been warnings about this in all the journals and papers recently.
I wouldn’t want to be in Greenspan’s place for the next few years. Or, frankly, be the head of state, because when this one hits, it’s going to be really nasty.
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"Or, frankly, be the head of state, because when this one hits, it’s going to be really nasty."
Hm. You know, I think Bush's macroeconomic policy has been to deliberately weaken the dollar. Do you disagree?
Posts: 37449 | Registered: May 1999
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quote:"What people need to hear loud and clear is that we're running out of energy in America."
-President Bush, May 2001.
Money is, first and foremost, a token for energy. Money = the capacity to accomplish work. The US Dollar is nothing more than a paper symbol of an energy asset. Only, you can't just print energy, can you?
quote:You know, I think Bush's macroeconomic policy has been to deliberately weaken the dollar. Do you disagree?
"Many American policymakers talk as though it is better to rely entirely on a falling dollar to solve, somehow, all their problems. Conceivably, it could happen—but such a one-sided remedy would most likely be far more painful than they imagine. America's challenge is not just to reduce its current-account deficit to a level which foreigners are happy to finance by buying more dollar assets, but also to persuade existing foreign creditors to hang on to their vast stock of dollar assets, estimated at almost $11 trillion. A fall in the dollar sufficient to close the current-account deficit might destroy its safe-haven status. If the dollar falls by another 30%, as some predict, it would amount to the biggest default in history: not a conventional default on debt service, but default by stealth, wiping trillions off the value of foreigners' dollar assets."
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Stormy (referring to your exchange with Thor above), sometimes you make me glad I got out of bed this morning. Posts: 5948 | Registered: Jun 2001
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Thanks for the link, JohnKeats. It's a reality... But I remember the Nash' theory about Economics. "A personnal profit doesn't always improve the global profit."
To meditate...
Your nickname is for the poet or for The Dan Simmons'Book Hyperion ?
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