I'm not sure the U.S. needs to export goods, but rather, I think it could be self sustaining in just about everything.
The politicians are always queuing up to tell us just how terrible isolationist economics would be for us all. It is practically a mantra. But you start to wonder if it would actually make things any worse than they are now for ordinary folk. There might actually be some dignity to be had from making our own stuff.
So how do we break this link? Can it be broken? Seems like it is pretty firmly held, and I have my doubts that we can get anywhere with the problem. "we're screwed, blued and tattooed" by the very people who supposedly are in the public trust. Larry, try these links. http://en.wikipedia.org/wiki/Battl_of_Athens_(1946) http://en.wikipedia.org/wiki/McMinn_ County_War I'm not very good at this. Iif these don't work, google McMinn County War.This is how things will eventually be handled.
......... especially China. If we resist, they can blackmail us by threatening to sell off the debt they hold.. So how do we break this link? Can it be broken?
They had over 1million people march on DC last weekend to protest the direction things are going.. The media chose not to cover it or downplay the turnout..
So the "mood of the country" can be firmly placed on a number of factors:1) Fear mongering by certain TV personalities who seemingly have little social responsibility .2) Gross exaggerations by the media (eg., one million demonstrators vs. a more realistic 70 to 80K)3) Gross exaggerations by bloggers on the internet including overemphasis of Obama's African parentage and his father's Muslim beliefs.4) Intrinsic racism in America which causes a festering of dissatisfaction with a fine President whose skin happens to be dark.5) Vast discontentment with the economy, including massive layoffs and losses in jobs, now being laid at the feet of present government desperately trying to turn things around.6) Increasing discontent with Afghan war and America's participation in it.7) Discontentment with movement of jobs and manufacturing overseas.Pretty potent mix, isn't it?
And in the UK the whole of our dubious, over geared, financial apparatus looked like it was about to blow apart 18 months ago - which may have had a good side as well as a bad side. Then the Government stepped in and "rescued" the whole rotten mess. It has settled back to pretty much what it was before and the bad guys have mostly kept their comfy jobs - except loans are only available to ordinary people at rip-off interest rates, despite near zero base rates.I am starting to think that it would have been better if the whole thing had collapsed. The alternative is like somebody avoiding being sick after they have eaten a bad meat pie. Getting it all up might have been better than that unending queasy feeling.I am betting on a double dip recession.
In the UK the politicians are being pushed towards the edge of a cliff. Pretty soon the mega-money that was paid out in order to keep the greedy incompetents who wrecked the economy comfortable is going to have to be recovered from public expenditure budgets.I think they have basically smashed up the toy box; now nobody can play.