Funny, I just watched a documentary style piece with this dude in it last night called, "The Fall of America-Part 1-The Economic Crisis. His basic premise in the piece is what he states here about the services industry, about outsourcing, and how we are fucked because the era of the dollar as the world currency is one. He points to how a few years ago everyone wanted our currency, but at this point, since we have diluted the dollar so much by printing up money, consuming more than we produce, and piling on debt that other countries are buying up our land, businesses, and other stuff with that soon to be worthless currency, which is why our markets are currently up. So, we are going to have a shit ton of currency that WAS worth something and shortly will be worth nothing. Basically, we sold high and are buying back low.
Posted by: Mudge
China may be a beneficiary but that doesn't make anything their fault.
I like how he says ".......one of the most important senators, in the... senate."
Posted by: proxy10
so.. are you guys suggesting the US is already on a downward path and no longer enjoys the blessing of "American Exceptionalism"?
Posted by: Big Smoothy
Originally Posted by proxy10
so.. are you guys suggesting the US is already on a downward path and no longer enjoys the blessing of "American Exceptionalism"?
Economically, I think the US is on a downward path, as the result of decades of intentional economic policy.
The term "American Exceptionalism" was recently noted by one of my favorite authors: Retired Lt. Col and now Professor, Andrew Bacevich.
Posted by: vortrit
The "I got to have it now, I'll pay for it later" mentality is finally catching up to most people in this country.
Posted by: Big Smoothy
Originally Posted by vortrit
The "I got to have it now, I'll pay for it later" mentality is finally catching up to most people in this country.
Yes, it definitely has.
Bigger house, consumer products, you name it.
Saving are up a little, but there seems to be a long way to go.
Posted by: LAM
Originally Posted by vortrit
The "I got to have it now, I'll pay for it later" mentality is finally catching up to most people in this country.
the culture of living beyond the means and being in debt has caught up to our society. basically what has happened is that decades ago the US Gov and a majority of the population started to spend money like the poor. the delay of gratification is now gone in our "Id" based society here in the US, people stopped living and planning for the future.
Posted by: KelJu
Originally Posted by LAM
the culture of living beyond the means and being in debt has caught up to our society. basically what has happened is that decades ago the US Gov and a majority of the population started to spend money like the poor. the delay of gratification is now gone in our "Id" based society here in the US, people stopped living and planning for the future.
We are a sick society in that regard. I am just also guilty of this. When I want something, I get it. I have wasted so much money in my life on stupid shit. I recently built a $2500 computer just because I always wanted to build an enthusiast computer and never could afford to until now. There was no sense in it.
When you constantly feed the Id, you create a monster.
to many people in denial, they will "believe" until they are planted in the ground. one of the reasons why it's so easy to pray on the Protestant-Christian value system.
Originally Posted by proxy10
