- Sep 26, 2000
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This is not gloating. No one is happy that the US economy is on the brink.
This is intended to educate those still open to the truth.
For 7 years I (we) watched as Bush and the Republicans systematically destroyed our economy. We watched as the brainless, propagandized, Fox News following morons kept posting how home ownership is ?at an all time high?.
Yet, anyone who had an IQ higher than 85 and had ever read a book knew the Bush economy was built on borrowed money, dangerously low Fed loan rates and increased government spending. We all knew that the insane loan practices of the mortage companies were a ticking time bomb.
We all knew that Bush did not just relinquish government oversight of the financial markets, but was actively aiding them in their destructive practices.
Now that we are just beginning to pay the price of the not just failed, but insane, Bush policies it is time to talk about what else I (we) are right about.
The outsourcing of America?s economy is the second time bomb. The same people in the Republican party, Fox News and financial networks that told us the insane policies we were following was ok are the same people who are telling us outsourcing has been good for America.
Well, sorry, it is a far larger problem then the financial problems we face in the markets today. The ?service economy? is a load of crap. Americans working at fast food outlets and mowing peoples lawns is not a healthy economy. In fact, the large number of low paying jobs in the service economy are the first jobs that will go in a recession. Service jobs don?t help the US in relation to other countries. Despite a MASSIVE decrease in the value of the dollar our trade surplus is actually going up. Despite a massive decrease in the value of the dollar against almost every other country, the one country that should have seen the most massive increase in its value, the Chinese Yuan, has virtually stayed the same.
One day soon, due to political conflicts, Chinese internal needs, or thousand other reasons the Chinese will raise the value of the Yuan. And what is happening now in the markets will seem like a sunny day in May. And if the Chinese ever really trade their currency on the open market it is not just Great Depression bad but will change America profoundly, forever.
So, pay attention. I (we) who were right for 7 years are giving you fair warning.
This is intended to educate those still open to the truth.
For 7 years I (we) watched as Bush and the Republicans systematically destroyed our economy. We watched as the brainless, propagandized, Fox News following morons kept posting how home ownership is ?at an all time high?.
Yet, anyone who had an IQ higher than 85 and had ever read a book knew the Bush economy was built on borrowed money, dangerously low Fed loan rates and increased government spending. We all knew that the insane loan practices of the mortage companies were a ticking time bomb.
We all knew that Bush did not just relinquish government oversight of the financial markets, but was actively aiding them in their destructive practices.
Now that we are just beginning to pay the price of the not just failed, but insane, Bush policies it is time to talk about what else I (we) are right about.
The outsourcing of America?s economy is the second time bomb. The same people in the Republican party, Fox News and financial networks that told us the insane policies we were following was ok are the same people who are telling us outsourcing has been good for America.
Well, sorry, it is a far larger problem then the financial problems we face in the markets today. The ?service economy? is a load of crap. Americans working at fast food outlets and mowing peoples lawns is not a healthy economy. In fact, the large number of low paying jobs in the service economy are the first jobs that will go in a recession. Service jobs don?t help the US in relation to other countries. Despite a MASSIVE decrease in the value of the dollar our trade surplus is actually going up. Despite a massive decrease in the value of the dollar against almost every other country, the one country that should have seen the most massive increase in its value, the Chinese Yuan, has virtually stayed the same.
One day soon, due to political conflicts, Chinese internal needs, or thousand other reasons the Chinese will raise the value of the Yuan. And what is happening now in the markets will seem like a sunny day in May. And if the Chinese ever really trade their currency on the open market it is not just Great Depression bad but will change America profoundly, forever.
So, pay attention. I (we) who were right for 7 years are giving you fair warning.
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