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  • 2009 Economic Forecasts Ignore Demographic Shift [View article]
    What is noticeable, is this is the first recession where it took a year to identify it, and just every single set of data coming of US Government has been retrospectively adjusted to the bad. Through to the election there was definitely a lot of talking up going on. As soon as Bush lost the data got worst.

    I very much suspect that things like equipping the US Military in Iraq is not only being counted at GDP, but also Exports. What you actually have there is just Government Overhead and Debt. So effectively accounting entries are just being made on the wrong side of the Leger most of the time.

    As for the employment statistics, I don't even want to go there, but frankly I don't believe a word of it. The bottom line is Obama will want to clean up the statistics a bit so it makes his term look better. However, can even he really come out with the truth at this stage of the game. It reminds me of Jack Nicholson to Tom Cruise. "You can't handle the truth".
    Dec 30 01:15 am |Rating: 0 -1 |Link to Comment
  • 2009 Economic Forecasts Ignore Demographic Shift [View article]
    The question is more like: "How will we ever know?"

    Japan, China, Germany along with most of the rest of Europe, the Middle East and Russian are all disappearing down the toilet due mainly to what is happening in America. In other words wealth destruction and collapsing sales.

    The US government (and I use a small g advisedly) is telling us that GDP is contracting by less than 1%.

    Seriously, does anyone actually believe the numbers?
    Dec 29 12:51 pm |Rating: +3 -1 |Link to Comment
  • Economic Efficiency Cannot Be Calculated [View article]
    Much of the comment on here about protecting jobs is very reminiscent of views expressed in the UK in the 1970s. It did do us any good then, and it won't do the US any good now.

    This crisis is one hell of reality check. Unfortunately, that is exactly what has been called for a good while.
    Dec 28 16:30 pm |Rating: +2 -1 |Link to Comment
  • Economic Efficiency Cannot Be Calculated [View article]
    The US has benefited from distortions in World Trade as much if not more than anyone else. That is the case because they have been effectively running the system for the last 50 years. It is no coincidence that the twin towers were in New York.

    America will suffer from the increasing competitiveness of other nations, whether or not they espouse free trade, because they are going to have to increasingly compete for resources. They will suffer because the competitiveness of emerging nations is based on giving more for less. To compete America has to give more for less. Trying to ignore these basic truths will only make matters worse.

    Lets face it, American firms cannot generally compete against the transplants that do compete on a level playing field.
    Dec 28 08:44 am |Rating: +2 -3 |Link to Comment
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