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Colombian President Santos tells the US and Europe to get their acts together

by Phantom Ace ( 1 Comment › )
Filed under Columbia, Economy, Headlines at November 24th, 2011 - 11:14 am

If 10 years ago someone would tell me that the President of Colombia would be lecturing the US to get its economic house in order, I would be laughing. Well that’s exactly what Colombia’s President Santos does in this interview. He criticizes the printing of money and excessive government spending by the US and Europe.

Santos graduated with an economics degree from Harvard. Why can’t we have a President who is economically literate.

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Posted in Columbia, Economy, Headlines | 1 Comment »

Paul Ryan to lead House budget committee

by Phantom Ace ( 151 Comments › )
Filed under Democratic Party, Economy, Elections 2010, Progressives, Republican Party at December 16th, 2010 - 8:30 am

Well the score between the Tea Party and the Rockefeller Republicans is now tied at 2-2. Rep. Paul Ryan (R-Wisconsin), is set to lead the House Budget committee. This is a huge win for fiscal Conservative as Ryan is the real deal. he’s not a big government Rockefeller Republican He will hold House Speaker Boehner and President Obama’s feet to the fire.

As Republicans prepare to take over the House of Representatives, a congressman from Janesville will play a key role in moving the GOP’s economic agenda forward. He’s Paul Ryan, a 12-year incumbent who represents Wisconsin’s 1st District.

Ryan, who spoke at U.S. Rep. Don Manzullo’s fundraiser lunch in May, will chair the powerful House Budget Committee, which will try to implement a bill he calls “Roadmap for America’s Future,” his plan to fix the economy by reducing regulations, cutting taxes and replacing government entitlement programs with voluntary and investor-owned savings plans.

[…]

“The problem we have now is that we live in a global economy, where 97 percent of the world’s consumers live outside this country. We’ve got to change our tax system to reward manufacturing that’s done in America. Let’s ‘border adjust’ our taxes by taking the tax off our exports and placing it on our imports. It’s legal, and it’s what our competitors do to us. And let’s give companies immediate expensing of plant and equipment so they can invest in American businesses and jobs.”

Read the rest: Janesville’s Ryan to lead House budget committee

Rep. Paul Ryan clearly has a grasp of America’s uncompetitiveness in the global economy. We have a 20th century structure trying to compete in a 21st century globalized economy. This is the underlying problem with our economy at the moment. Ryan is a good pick and hopeful his vision will win out over the Liberal Bush/McCain wing of the GOP.

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Posted in Democratic Party, Economy, Elections 2010, Progressives, Republican Party | 151 Comments »

Weaker Dollar will not help the US economy

by Phantom Ace ( 207 Comments › )
Filed under Blogwars, Democratic Party, Economy, Leftist-Islamic Alliance, Progressives, Socialism at November 16th, 2010 - 2:00 pm

Fed chairman, Ben Bernanke, has begun implementing his QE2 to combat deflation. This is de facto devaluation of the dollar and its goal is to create some inflation so people will spend. Another side effect of devaluation is making American goods cheaper for exports. The thinking is that cheaper American goods will lead to demand for these products and thus create jobs. The problem is this will not work in today’s environment as the US doesn’t produce much for export anymore. The Economic model pushed by both parties was to have Americans as consumers, not producers. The truth is this QE2 gamble will not kick start the US economy.

A weakening currency traditionally helps a country raise its exports and create more jobs for its workers. But the declining value of the dollar may not help the United States increase economic growth as much as it might have in the past.

Though a weakened dollar would help exports to some degree, business executives and economists said that because of the ways American multinational companies operated, it was uncertain whether it would cause much of an increase in hiring.

[…]

Even when a company enjoys a relative surge in foreign sales, it won’t necessarily lead to a hiring spree. That is because the largest proportion of American exports are still manufactured goods, which are no longer so labor-intensive.

And many of the companies that still manufacture in this country are businesses that have not gone offshore because they are too small to justify setting up overseas operations. A weak dollar can help their businesses, but it may not prompt a wave of hiring.

Read the rest: Weaker Dollar Seen as Unlikely to Cure Joblessness

At this point the Federal reserve and the Obama administration are using gimmicks to get the economy going. The only solution is to massively reform our tax code and regulatory system to make America attractive to foreign capital. This is what will create jobs, not a currency devaluation. Many nations around the world have tried currency devaluations and the result was economic stagnation. Until hard choices are made in regards to our fiscal situation, America will continue to be the sick man of the global economy.

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Posted in Blogwars, Democratic Party, Economy, Leftist-Islamic Alliance, Progressives, Socialism | 207 Comments »

The Collapse of America’s Middle Class

by Phantom Ace ( 160 Comments › )
Filed under Barack Obama, Economy, Misery Index, Progressives, Regulation at November 12th, 2010 - 2:00 pm

The current Obama Boom (stagnant economy) has accelerated a trend that began in the early 2000’s. Due to globalization, middle class jobs paying $40,000-$70,000 a year began to be outsourced overseas. There are many factors, the primary being the US’s archaic economic regulation and tax policies that discourage domestic investment and encourage overseas expansion. The result was that even before the economic collapse of 2008, the middle class was stagnating. Now with Obama’s Progressive economic policies, it’s collapsing as there’s no incentive to create jobs here. If jobs are available, they are low wage minimum wage jobs that can’t provide a good living. The result is like Argentina before it, the America’s living standard is declining.

WASHINGTON — The good paying, predominantly white-collar jobs that once sustained many American communities are disappearing at an alarming rate, keeping the unemployment rate stubbornly high despite the end of the Great Recession.

More troubling, these jobs in accounting, financial analysis, commercial printing and a broad array of other mostly white-collar occupations are unlikely to come back, experts predict.

There isn’t a single cause to the trend. Some of it is explained by changing technology, some of it is the result of automation. Sending well-paying jobs to low-cost centers abroad is another big part of the story. So is global competition from emerging economies such as China and India.

The result is the same in all cases, however. Jobs that paid well, required skills and produced vital communities are going away and aren’t being replaced by anything comparable.

Read the rest: With good jobs going away, middle class downsizes

The American dream is rapidly dying and the hope for a better tomorrow is becoming a thing of the past. Barack Hussein Obama’s policies are making things worse by increased debt which causes economic stagnation. He has become a laughing stock at the G-20 and his proposals are dismissed out of hand.

Economic policies that lead towards investments and easing regulatory burdens are businesses are the only way to restore good jobs here in America. We are the sick man of the global economy and we must implement economic reforms to reflect the new reality. If we continue down our path, what happened to Argentina is what will happen to us.

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Posted in Barack Obama, Economy, Misery Index, Progressives, Regulation | 160 Comments »

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