good points, but outside InfoTech, what US products ???
we are almost 60% services now as an economy
we dont make much of anything anymore
and what we do make has oodles of foreign components in it
our US economy is fast becoming a consultancy shell
and much of our exported ideas are crucially flawed
like corporate structures, bank structures, central bank system, fat-based food stores
I am not sure the current arrangement with China is mutually beneficial
if they develop more of a domestic consumption economy, they will need to sell us less
same goes for other exporting economies in Asia
meanwhile, our trade gap is over 5% of US GDP
this is unsustainable and downright dangerous
Muslims wont be purchasing much from US
unless you can force some new laws that tolerate MacDonalds, Playboy magazine, and Speedo G-Strings
just kidding
seriously, our consultant exports to the Muslim nations will count for something
but in the end it is mfg base that rules
their cheaper capital, our stronger dollar, our huge appetite for toys & trinkets...
these will always keep the US behind the trade 8ball
a brief course thru Europe would expose the vast cultural differences between US and European consumers
we buy it now on credit
we mortgage to the hilt
we take new loans to support questionable purchases
we go deep into hock on credit cards
Europe doesnt
worse, US has very little introspection
forget inspecting Iraq's facilities
how about inspecting our household balance sheets?
/ jim |
