Posted by Bob on 9/26/2007, 12:27 pm, in reply to "America's economic disaster areas" That is, we have sold securities to other nations, our Treasury bills, a form of "loan," which gives us an influx of cash, but also, a future liability. When foreign countries cash our T-bills in, our economy suffers, as it did when the Japanese economy crashed. Presently, the PRChinese are holding the lion's share of our debt, and thus, are in a position to bully us in ways far beyond their ability to do so industrially. Lost in all of this is the real sense of what it is that makes an economy truly strong, truly able to provide for the needs of all its people. That real strength lies in productivity, the abilty to grow food, manufacture goods, and provide services. That real strength does NOT lie in raising taxes, contracting for debt, and in distributing the fruit of one man's labor to another person. A nation's real strength is in its people. Let the people make their own economic decisions, let them reap the fruit or bear the burdens, and they will imperfectly produce far more social justice than any distant bureaucrat, unaccountable for the consequences of his actions, could possibly provide. The world economy has changed drastically, and is changing now. We are entering an era which no economist can predict, just as we did when man first settled onto farms, and later, first moved to cities and factories. No one knew then what would come. But the basic truth remains. People, not bureaucrats, care more about, and are more connected to, social justice than any government can be. For a brief moment of history, government had become the servant of the people. Now, it is reverting rapidly back to its true nature, the rule of power and might over the weak, and not for the benefit of the weak, however much the tyrants pontificate about the plight of the poor. Neither the republicans nor the democrats give a rat's behind about how poor you become. For them, it's all about power. If you believe that they care about you, you are what they call a "useful idiot," and nothing more.
72.243.26.154
America used to be primarily a farming economy. Then it became primarily, in turn, a manufacturing economy, a service economy, and now it has become essentially a financial management economy.
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