> Sam wrote: > Well I guess I missed that post. > From what I read of Gruss' post he claims there are no jobs because > they're going overseas and the dollar is collapsing so buy Euros or > Renminbi. The economy has failed and it's all Bush's fault. >
JOBS Many jobs are going overseas, that's a no-brainer. Especially things like coding because in many ways it's a commodity and, as Tom Friedman says, the world is flat. That doesn't mean there won't be new jobs, but you'll have to be clever and adapt to find them. For example, my father-in-law is a machinist and raised his family very well with his wage, but he couldn't today. So he's taken to traveling about the country snapping up the few high wage gigs left until he retires. DOLLAR The dollar is under enormous pressure to devalue due to our massive foreign debt. In a nutshell, China is selling us cheap goods and then using the profits to buy American dollars which keeps US interest rates down. If China depegs or stops buying dollars things are going to get expensive fast. Oddly, the Koreans stand to lose a big chuck of change when that happens since thousands (millions?) of Americans will default on their mortgages and it's the Koreans that've been buying them up. American mortgages are a fashionable investment in Korea. Personally I got out of Euros almost a year ago and made a nice profit. I'm now all-in on the Yuan which is risky. But I'm still in European stocks. European Markets Continue Their Strong Run July 1, 2005; Page C11 Three cheers for Europe. http://online.wsj.com/article/0,,SB112015913696674389,00.html?mod=todays_us_stock_market_quarterly_review BUSH'S FAULT Mr. Bush is responsible for fiscal policy and lots of bad things have happened that wouldn't have if his policy was different. For example, THE DEBT! Then there's Mr. Bush's abysmal foreign policy and before you wave off the Pew survey, actually come up with examples of bias in it that you feel altered the results. It's like saying you don't believe in gravity because Newton was liberal. There are 2 throttles to the economy: fiscal policy and monetary policy, and Mr. Bush has his hand on one of them. I do not subscribe to the "the economy just happens" theory. THE ECONOMY While the economy is stronger than I'd expect, I still think there's a great danger of it heading south and I'm not the only one: Investors Plan for Slower Economy July 1, 2005 10:19 p.m. As Wall Street buckles up for the second half of 2005, analysts are warning investors to get ready for a curve in the road ahead. The U.S. economy is slowing down, they say. http://online.wsj.com/article/0,,SB112021623302275358,00.html?mod=mkts%5Fmain%5Ftodays%5Fmkts%5Ftac Economists See Modest Growth and Many Worries July 1, 2005; Page A1 NEW YORK -- The economy is nearing its fifth year of expansion on a firm footing, yet a long list of worries still nags at economists. http://online.wsj.com/article/0,,SB112014118051374092,00.html?mod=todays_us_page_one You can't just look at one quarter and say, "what's the problem?" you have to look at the balance sheet. Take my cousin, for example. He makes great money, but he spends every penny and then more. His neighbors probably think he's doing great, but look at his balance sheet: if he loses his job, or anything happens, he's in DEEP trouble. And that's my complaint with Mr. Bush's fiscal policy. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:162705 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
