The American Decline

[mysweetladyjenny]

If the U.S is no longer the top economy of the world, I myself think only time will show the falseness or truth of this statement, I know I´m not risking myself too much, but really so much is to be seen, from what will happen with China, who will replace the U.S in the world´s leadership etc...

Anyway, I do agree with you that Obama will be unable to stop the fall of the "Empire", and this is supported by many facts, the one I see as unsurmountable is how will an economy based on consumption which at the same time was boosted by cheap credit available to almost anybody, recover? I believe we all agree that credit will no longer be as cheap as it has been in the past twenty years and no all Mr Joes´will qualify, then how will consumption recover? If I´m not mistaken consumption makes up like 2/3 of american´s GDP, then I can´t foresee how the story continues.

But my question is the following, what´s the future for Canadians (the ones for Americans is very very bleak, with no credit there is no health and education up there) if Canada is the US main commercial partner?

Please correct me if I´m stating sthg. false.

Thanks.
Barbara

 

[RWS]

Lesney used to manufacture the "matchbox" model cars, until it went bankrupt in 1982. I used to collect them as a child.
British Leyland was formed in 1968 and nationalised in 1975. Its demise is one more tragic incident in the general demise of British manufacturing.

Exactly right, BigBad. By mentioning Lesney (whose toy cars and trucks my brother and I, too, collected as children), I'd meant gently to spoof Leyland's poor production quality (which, combined with unsustainable labor and other costs, brought down the composite corporation).

 

[RWS]

Anent my last: I really regret the lack of expression affordable through typing. And I don't like "smilies".

 

[Fishface]

Exactly right, BigBad. By mentioning Lesney (whose toy cars and trucks my brother and I, too, collected as children), I'd meant gently to spoof Leyland's poor production quality (which, combined with unsustainable labor and other costs, brought down the composite corporation).

Leyland designed the Mini - which in itself was a very successful build to criteria - almost as successful as the 2CV.

MG was was sold to the Chinese - they were after the engine block design - 50 years old and useless in todays market and chunk of brown field in the black country thrown in free -

 

[mini]

Lesney used to manufacture the "matchbox" model cars, until it went bankrupt in 1982. I used to collect them as a child.

British Leyland was formed in 1968 and nationalised in 1975. Its demise is one more tragic incident in the general demise of British manufacturing.

Let's not even discuss the Mini... I'll get very sad!



EDIT: Ooppps. I see I was too late. You already did it!

 

[danc]

It's the end of the world for the USA, so move to Argentina to make your fortune!

 

[tangobob]

Lesney was run by a guy called Charles (I think) Odell who reformed the company and now make LLedo models.
The Chinese have now moved the manufacture of MG cars back to Longbridge, They have spent a small fortune improving the model ($10) don't expect too much from them.

 

[bigbadwolf]

Testimony from Mr.Bernanke:

... the chairman of the US Federal Reserve insisted the US remained the premier world currency.... In testimony to Congress, Fed chairman Ben Bernanke insisted that the dollar's status as the "premier" international currency had been reinforced by the global credit crisis. He said the dollar had strengthened during the crisis "because there's been a lot of interest in the safe haven and the liquidity of dollar markets."

Of course, if the dollar was safely the world's premier currency, there would be no need for reassurance from Bernanke; his reassurance suggests exactly the opposite. The dollar's role is in jeopardy as the American economy continues to decline vis-a-vis others.

If I recall a Goldman Sachs prognosis correctly, by 2050, Chinese will either match or be lightly ahead of the USA (but not per capita GDP, of course). Indian GDP will be about half that of the USA. Per capita GDP of Russia will match or be slightly ahead of Europe.

The relative decline of both the US and Europe will continue indefinitely. The growing strength of India, China, Russia and maybe Brazil will continue indefinitely. The US attempt to refashion its declining empire using military dominance and complex financial instruments has come a cropper.

 

[jedard]

Jedard-Where did you get this article?
The layoffs are continual, look at the news/blogs you can find layoffs everyday. Wait until next year when the credit cards bankruptcies increase. As a taxpayer you can't even find where the $700b is going. Obama has inherited a mess. Being from Chicago, I'm glad he got elected but I honestly don't think his four years will lead to success in the economy. The situation will get a lot worst before it gets any better. The damage to come will last at least a decade. As far as bailing out the automakers that won't help either. They could stop building cars and still have a surplus. Or better yet only have max 10 cars per dealer like here. It seems like the US is following in Britain's footsteps. I believe Britain bailout some automakers in the 1970s and the companies still went bankrupt.

Thankyou for being so kind as to speak about the situation as it is. Sometimes we need to needle the public to get a response. Seems to have worked.
Yes I am CDN. What I write here is based on what your American, newscasters, broadcasters and money mongers write about. I only report what they have to say. Many people, mostly Americans have called Bush by other than his namesake. I have publicly applauded Mr. Obama and even sent him my personal congrats via a fax. I reminded him how his forefathers were treated and hoped he can do better than the white leaders we have had.
As for the term "Global Village", I don't think it is necessary to teach anyone that term. It has been around since the invention of television. I guess the reader never went to school.
As for the reference to Milton Friedman by the person from ORD, and your attorneys reply. I guess, where ignorace is blissed tis followed to be wise. The whole world knows about Friedman and how he controlled the US government for personal profit.
I get daily updates on the economy of the G20 nations as well as the ongoing nightmare of the global meltdown.
What I posted here was one of them. So far that American has been right on the money, His firm even advised those at the helm of the USA 2 years prior as to what was coming down. It fell on deaf ears.
Who is to blame for this meltdown? One guess.
And by the way, the Argentines have never forgotten what Milton Friedman or as they put it, the Americans did to them.

I am not trying to insult anyone from the USA or anyplace. My comments are mostly from learned, intelligent persons who are American by birth. So I guess it is ok for them to make a statement but others should not.
If I have insulted anyone from the USA, then perhaps one should contact CNN or Reuters and tell them to stop saying false things about your country.
Canada itself is not without any shame. It too has a past of wrong doings. Small scale but it is there.
Some very learned American born financial strategists like the one who wrote the info I posted have predicted what will happen. One thing for sure is that the American Empire, like the Roman Empire has fallend apart.
Perhaps we can live in peace now.

 

[evankub]

Wow Jedard, that may have been the most eloquent indictment of the US I've ever read.