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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%4:00 PM EST
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To: KyrosL who wrote (66381)9/25/2010 2:58:21 AM
From: elmatador  Read Replies (2) of 217677
 
1) out trade war will affect the USA relatively little. ANSWER: it does, for to pay for its imports, any country has to export. And it was this failure to export that caused the deficit.

2) The USA is a continent with virtually everything it needs right here, ANSWER: US imports 50% of its oil

3)with plenty of resources per capita, with still the best higher education in the world, still attracting many of the best and the brightest from around the world.
ANSWER: US education costs too much. US students owe $850 billion. That is more than the whole credit card debit. Soon American system will suffer as a result of the lack of funds

3) Most of USA imports are because of choice and want, not necessity.
ANSWER: to pay for its imports -like the 50% of its oil- US must export

4)If trade stopped completely tomorrow, they USA simply goes back to a 1970s lifestyle.
ANSWER: the 1970 world does not ressemble at all today's world. Then it was Cold War years and there was no competition from emerging markets

5) The USA middle class will probably be better off than it is today in such a situation.
ANSWER: that goes against David Ricardo. Not his law of diminishing marginal returns but "The idea is this: a country that trades for products it can get at lower cost from another country is better off than if it had made the products at home.


The big losers will be multinational company executives and WS financiers.
ANSWER: that conflicts with 5), since middle class depends on multinational and WS financiers
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