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Pastimes : Let's Talk About Our Feelings!!!
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To: Brumar89 who wrote (43010)7/2/1999 9:17:00 AM
From: epicure  Read Replies (3) of 108807
 
I think the argument can be made that America is not performing well economically- but of course that depends how you define "economically".

1. Our national book-keeping is a sham. We have no money to pay for our large entitlement programs. They are paid for out of the salaries of our present workers who are aging and supporting more and more retirees. The "surplus" Clinton has spoke about recently is an Orwelian fiction- and does not exist except in the imagination.

2. Our balance of trade is frightening (to me anyway).

3. The shift in our economy from manufacturing to service makes me wonder what sort of life the bottom half of Americans can expect.

4. Our savings rate is shocking. We are a nation of profligate spenders- which does not indicate to me we are a nation of thrifty or wise individuals from an economic perspective.

5. Much of the wealth that is being saved or created is in the stock market. The younger the age of the market participant the more likely they are to be invested in risky stocks without regard to fundamental valuation. We stand a good chance that many young families will see their savings wiped out in the next bear market.

If the "good times" come from being a faithful nation will we blame the "bad times" on our faithlessness? Cycles, I suspect it is all cycles.
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