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    • Mon Apr 14th 18:35 PM | Rating: 0 0
      Commented on:
      Barney Frank's 'Subprime Relief Plan' May Make a Bad Situation Worse
      Do you know if they will do the same with cars, I want to buy a Porsche and I don't have enough money, If a buy it now and I can't pay later can I get my a write-down in my loan?
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    • Thu Jan 17th 14:42 PM | Rating: 0 0
      Commented on:
      The Federal Reserve Has Failed Us
      It’s not morals it’s economic reality, if they produce the same as us and sell it in the same market (the world) they will end up having the same standards of living.
      People buy the cheaper product they don’t check the moral level of the product, American products have more moral but they are more expensive and that’s what it counts.
      tariffs maybe help in the short run but they will be damaging in the long run, and china and India now produce cheap products without quality but at the end they will produce products with the same quality, nothing we can do about it.
      Our standard will get lower because now is too high compared with the standard of living of people producing the same that we produce, USA companies now have some comparative advantage (regulations, laws….) but they will get eroded by some other advantages of third world countries (products without moral are cheaper)
      Or their standard goes up or ours down, I think both things will happen till they converge in this world of limited resources.
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    • Thu Jan 17th 13:15 PM | Rating: 0 0
      Commented on:
      The Federal Reserve Has Failed Us
      Kunst has the point, in the long run in this globalized world where no matter where you live to do a service or no matter where something is manufactured all people have to end up with the same standard of living if they work the same hours and in the similar economic environment (technology, trade, regulations…) . It means that as the resources in the world are limited third world country workers will get close to us and we will get close to them, it will happen whatever we do, we can’t compete with them , they want the same standards we have for the same work. If we lowered our salaries or work more hours to compete our standard gets lower as we don’t do that it will happen with inflacion and the devaluation of the dollar, we can’t keep consuming the same.
      if the fed wouldn’t have lowered interest rates maybe the process would have been slower, the fed decided to lower them to give us the feeling that everything was ok, but with this the American worker became more profligate and spend money that he didn’t have, third world countries lend us a lot of money that they saved with their work, money that is not going to have any value soon. I think that the fed the only thing it did was accelerate the process.
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