Funny Analogies on the American Economy, by Peter Schiff, Ron Paul's Economic Advisor

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  1. Quote Originally Posted by RobInKuwait View Post
    You have to look at why those businesses and jobs left the US. It wasn't because of NAFTA, that just knocked down barriers. Look at what a US manufacturing business has to deal with:

    Unions
    Minimum Wage
    State and Local Taxes
    Corporate Taxes
    Social Security Taxes
    Environmental Regulation Taxes
    Worker Lawsuits
    Safety Regulation Taxes
    "Anti-Trust" Regulation
    Competition from Government Sponsored Entities and Goverment
    Animal Rights Taxes
    The Expectation of Medical and Dental Insurance

    None of these are free market realities, but they're all issues businesses in America deal with on a daily basis. The US dug their own hole.

    We tried tariffs in 1929-1930 and several other times. It hurts more than it helps.



    Well, first of all, our ramifications is the collapse of our monetary system, which though it would be bad for them, would be devastating for us. Consider it the same as an individual going bankrupt. We would have trouble getting loans from then on, and our currency would be worse than the peso or rubel. Every business and individual with dollar denominated assets (which is the majority of American individuals and businesses) would be essentially broke.
    I truly do see your point in regards to the labor issues. I agree that our businesses get caught up in these things. When the airlines took a hit in 2001, they had to make hard choices and cuts in order to keep afloat. At times like these, the unions and workers are going to suffer cuts as well, but labor never wants to make the short term sacrifice for long term recovery.

    However, I think some regulation is needed to minimize any gross abuse of labor or the environment. I hope it can be done in a way that is fair for both sides.

    As far as China is concerned, if our economic survival is reliant on our ability to get loans from them then we have already lost. We shouldn't have to rely on them for loans. And we are essentially already broke. We are deep in the red. Its probably very difficult to get additional credit so we are about maxed out.

    But I agree with you more than you may think. We can't blame China completely. Like you said, we dug this hole ourselves.


  2. Quote Originally Posted by Lacradocious View Post
    I truly do see your point in regards to the labor issues. I agree that our businesses get caught up in these things. When the airlines took a hit in 2001, they had to make hard choices and cuts in order to keep afloat. At times like these, the unions and workers are going to suffer cuts as well, but labor never wants to make the short term sacrifice for long term recovery.

    However, I think some regulation is needed to minimize any gross abuse of labor or the environment. I hope it can be done in a way that is fair for both sides.

    As far as China is concerned, if our economic survival is reliant on our ability to get loans from them then we have already lost. We shouldn't have to rely on them for loans. And we are essentially already broke. We are deep in the red. Its probably very difficult to get additional credit so we are about maxed out.

    But I agree with you more than you may think. We can't blame China completely. Like you said, we dug this hole ourselves.
    I think you're right, we essentially see eye to eye on this.

    We're in a bad spot and we're getting worse every year. I'd guess that 99% of Americans have no idea just how precarious the US's world position is right now.
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  3. I think the US has to get rid of the money laundering FED.
    Tariffs only make it harder to get good prices for imports or pay more locally. The US has to model after china who will be the technology and industrial center of the 21st century. You have to produce a viable serive or good that has a low opportunity cost or risk creating debt to spend on consumption.

    Im clearly out of my economic leauge here, lol.

    I think the people work hard but get the shaft when they are shelling out for a war, and to big buisness there are no solutions in this environment.

  4. How long until the Amero do you think? Or do you think the Amero is conspiracy B.S? Im thinkin amero 2010-2011.

  5. Quote Originally Posted by somewhatgifted View Post
    I think the US has to get rid of the money laundering FED.
    Tariffs only make it harder to get good prices for imports or pay more locally. The US has to model after china who will be the technology and industrial center of the 21st century. You have to produce a viable serive or good that has a low opportunity cost or risk creating debt to spend on consumption.

    Im clearly out of my economic leauge here, lol.

    I think the people work hard but get the shaft when they are shelling out for a war, and to big buisness there are no solutions in this environment.
    I'm not blaming war or big business. Big Business especially. Big business is what made the US an economic superpower to start with. I'd blame our situation on long term entitlement programs such as social security, medicare and medicaid. Without those, our debt is like 10 trillion. With them its like 56 trillion.
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  6. Quote Originally Posted by somewhatgifted View Post
    How long until the Amero do you think? Or do you think the Amero is conspiracy B.S? Im thinkin amero 2010-2011.
    I think the Amero is a failsafe if/when the Fed and Treasury completely loses control of inflation. 2010-2011 sounds like a worst case scenario.

  7. Quote Originally Posted by RobInKuwait View Post
    I'm not blaming war or big business. Big Business especially. Big business is what made the US an economic superpower to start with. I'd blame our situation on long term entitlement programs such as social security, medicare and medicaid. Without those, our debt is like 10 trillion. With them its like 56 trillion.
    This is why it makes me puke when I think that Obama will increase the costs and size of the government.

    The only way the US can get out of the whole is cutting down the size of the government, in order to cut taxes and attract investments. Also the business in the USA needs to move in areas that requires well qualified people because you can't provide things if most of your workers are unqualified. It's sad that as Schiff says, the US gov will tax exactly the people that it needs.

    Another huge problem for the US is that a part of the welfare people live on it because of illegals. Deport the illegals whenever you catch them and unqualified people will have jobs too.

  8. Quote Originally Posted by Sergiu View Post
    This is why it makes me puke when I think that Obama will increase the costs and size of the government.

    The only way the US can get out of the whole is cutting down the size of the government, in order to cut taxes and attract investments. Also the business in the USA needs to move in areas that requires well qualified people because you can't provide things if most of your workers are unqualified. It's sad that as Schiff says, the US gov will tax exactly the people that it needs.

    Another huge problem for the US is that a part of the welfare people live on it because of illegals. Deport the illegals whenever you catch them and unqualified people will have jobs too.
    The best solution in my eyes, is stop Social Security right now. What you paid into it is your at 65. Stop medicare and medicaid, now. Cold turkey. Repeal every environmental and labor law in the book. Abolish income taxes. Institute a 10% sales tax on everything.

    That alone would give us the revenue to eventually balance the budget while taking off the table our biggest expenses.
  9. Last edited by somewhatgifted; 01-14-2009 at 08:39 AM.

  10. YouTube - Peter Schiff On Your Money- Obama's Plan 1-10-09

    People can be so ignorant, Leeb argues in circles very typical of a person who is wrong in a discussion.

  11. Quote Originally Posted by RobInKuwait View Post
    The best solution in my eyes, is stop Social Security right now. What you paid into it is your at 65. Stop medicare and medicaid, now. Cold turkey. Repeal every environmental and labor law in the book. Abolish income taxes. Institute a 10% sales tax on everything.

    That alone would give us the revenue to eventually balance the budget while taking off the table our biggest expenses.
    I really don't understand the pleasure of paying half of your income so that you get some money when you retire. I'd rather have fun now with all my income and when I won't be able to work at 70 years old to off myself. lol Plus, I could solve that problem by saving.

    What you propose will never work politically. Plus, what will you do about people with disabilities? And the investment money that will go in the US if you will only have a 10% sales tax on everything would be crazy. What I am amused about the current way of social security is the fact that is unsustainable. You need more workers in order to be able to sustain ageing populations and bigger numbers that live off welfare, but in order to that you need higher natality rates and the Earth is already overpopulated. With higher number of people on Earth you put more stress on the resource deficit thing.
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