Is America heading straight towards Another Great Depression?
It certainly feels like so. While the US was once the world’s strongest manufacturing base, we’ve reverted to a service economy, using goods produced cheaply abroad to provide stimulus. In the last 20 years, the internet, real estate, and other service oriented goods were the only things keeping our economy afloat. For the first time in American history, our administration officially abandoned a “strong dollar” policy, effectively allowing our money to be worth less than it once was. If you travel abroad, you’ll see the effects in your purchasing power first hand. It’s also a reason why some businesses in the US are starting to take the Euro over the dollar. The Chinese and Arab investors, who own roughly 10-20% of American investment, could easily cause a depression with a sudden full withdrawal of their resources from our nation. It saddens me that no one is taking Ron Paul’s ideas seriously. Ron Paul is a man who knows his economical theory and fiscal responsibility. We’re in for a
Eventually, there is so much debt in this country and we are spending money (Just like in World War I) on the world of tomorrow instead of paying off debt or the cost of building warships and planes for this present war, and we do not even realize that we are sinking deeper into debt. Most people do not think so. The money that we spend is not worth anything, it is rather like play money. When money was real a dollar bill used to have printed on it a silver note. Now money now longer has this printed on it. A silver note was to say that you had exchanged gold or silver for the dollar. So yes I do think that at some point we will be headed for another Great Depression.
It’s already in it. A Britain is heading the same way cos they are like lemmings and follow the Yanks whatever they do. They haven’t learnt yet that you don’t follow them like they did with the war in Iraq. Blair shouldn’t have listened to that half-wit Bush.and Thatcher should have kept off the American band wagon she started all the trouble with the British economy getting rid of the Steel Industry, Coal Industry Pottery Industry.and all the privatisation.She’s another half-wit and still poking her geriatric nose in.