02-11-2006
| #1 (permalink) |
| Suspended Join Date: Jan 2006
Posts: 19
 |  U.S. trade deficit sets another record U.S. trade deficit sets another record Last Updated Fri, 10 Feb 2006 10:06:10 EST CBC News The U.S. trade deficit soared to an all-time high of $725.8 billion US in 2005, up 17 per cent over the previous year, as Americans imported record amounts of oil, food, cars and other consumer goods. The deficit with Canada hit an all-time high, as did America's deficits with China, Japan, Europe, the OPEC countries and Latin America. It's the fourth consecutive record year for the United States, raising more concerns about President George W. Bush's trade policies. FROM JAN. 18, 2006: Buffett warns of turmoil with U.S. trade deficit The country has lost nearly three million manufacturing jobs over the past five years, while its debt has risen to levels that concern many economists. Billionaire investor Warren Buffett warned last month that the U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt. "In my view, it will create political turmoil at some point," he said. Pretty soon, I think there will be a big adjustment." http://www.cbc.ca/story/business/nat...fi-060210.html |
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02-11-2006
| #2 (permalink) |
| Politically Incorrect  Sponsor  Join Date: Dec 2005 Location: Bigfoot Country
Posts: 3,425
  | Re: U.S. trade deficit sets another record Why can't we say no to all this import crap? and start making stuff here again??  Why buy a freakin' Hyundai? Buy a damn Ford or GM instead! I'm not against Free Trade, but Lets support Made In USA!!!  However, it should be pointed out, that our manufacturing based economy is/has switched to a Service based economy... Adam Smiths Free Hand Economy. It would also help if other Countries wouldn't Pirate USA's intellectual properties. (ie Movies, music,..)  |
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02-11-2006
| #3 (permalink) |
| Doing the Impossible     | Re: U.S. trade deficit sets another record I don't see what the problem is for you Solve. You are a socialist infavor of the redistribution of US wealth to enrich the underprivlidged in the world. This is capitalism doing just that for you. You should be all for US trade deficit. Bill
__________________ aka TheBigDog - Hypography Full Freaking Moderator   Become a Hypography sponsor! The truth is incontravertible; malice may attack it, ignorance may deride it, but in the end there it is. - Winston Churchill TheBigDog's recommended reading: The Science of Success - Charles G. Koch A neutron goes into a bar and asks the bartender, "How much for a beer?" The bartender replies, "For you, no charge." |
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02-12-2006
| #5 (permalink) | |
| ¿42?     Join Date: Feb 2005 Location: 33.78N 84.66W
Posts: 5,773
| Re: U.S. trade deficit sets another record Quote:
Look at the Hyundai workers. They are not underpaid, third world laborers working in a sweat shop. They live in one of the most technologically wired nations of the world enjoying for the most part a better living than their American counterpart. At the same time Hyundai is not paying the janitor $30 an hour to keep the floor swept and the toilets clean, they are paying what the job is worth. The software industry offers another insight into imports and outsourcing. An American software company can hire degreed software engineers in India for around $20K annually. Those same engineers would cost $70K+ in the U.S. It is obvious that he can compete in the market place more effectively with the Indian engineers. You also can't blaim the Indians for working to earn such a paltry sum because that $20K in their economy is equal to about $100K in the U.S. The world economy is globalizing. The are millions of available workers around the world that are currently unemployed. Their countries will gladly welcome manufacturing companies to provide them jobs. With the increasing transportation technology available to enable manufacturers to easily ship their products from facilities located anywhere in the world it is time for many Americans to realize that they are now competing for employment globally.
__________________ Clay Editor and Forum Administrator stego anyone? Add yourself to Hypography's Frappr. "There are only 10 kinds of people in the world -- .....Those who understand binary, and those who don't." "Draw no conclusions before their time." | |
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02-12-2006
| #6 (permalink) |
| Politically Incorrect Sponsor Join Date: Dec 2005 Location: Bigfoot Country
Posts: 3,425
| Re: U.S. trade deficit sets another record You hit the nail on the head Clay. Globalization WILL/IS happening. Adam Smiths Free Hand Economy! How do we reduce Trade Deficit??? Is it a good or bad thing??? We import more than we export. Toyotas are made here cuz the Japs earn too much over there. Same as manufacturers moving down to Mexico to save labor costs. Still, Trade deficit could be reduced if other countries wouldn't Pirate Intellectual properties like Movies, music, software..and they actually paid for em'. We talk about Trade Deficit. Is it inconsequential?? |
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