Economy

[Bettacreek]

Pfft, of course something like this would become a concern, AFTER we finally start to save money. Stupid economy. Never have a dime in the bank, finally get to the point in life that you can start sitting money back, and ta-da! There goes the economy.

 

[country lady]

As I tell my grown children, those of us who lived through lay-offs and a couple of recessions know that we must circle the wagons and value our family/homes. If we have done everything humanly possible, ie., saving a reserve, responsible behavior, then we are likely to come through this too.

What I wonder about China buying up our companies is that they are also buying up technology. If they buy auto companies, for example, won't they also receive all the patents and technology? Do they ever invent anything instead of stealing and buying? I can't think of a single thing in our modern age.

 

[Lunachick]

The locksmith shop around the corner from here is doing a brisk business.

 

[Ec_Prokta]

*sigh* AGAIN? We already had one 80 years ago! Will nobody learn from history? Depending on the government won't help you or me. Well...

BATTEN DOWN THE HATCHES! We should all pile in a basement or something...

 

[Rosalind]

Quote:
They invented Maoism.

I know, I know, that wasn't exactly what you were thinking...

Actually they have good aquaculture systems for double-cropping fish in the rice paddies. Yes, the intellectual property goes with the companies that are bought, but they also have very good electrical engineers of their own, and I think their modern architects are far superior to ours. Seriously, if they want to trade Frank Gehry for IM Pei or Arup, I'd consider that we got a better deal. They have most excellent civil engineers, too.

A lot of modern science and engineering is Chinese, either Chinese people coming here to study and work or else done in China: drug discovery, agriculture, textile development, building materials, lots of applied sciences. A big part of that is money, but by no means ALL of it is about the money--Chinese educational systems are far superior to American schools when it comes to math and science. Since most engineers and scientists are the inventors and discoverers, and you need math to do that sort of thing, it makes sense that schools with strong math classes would produce more inventors.

I would worry less about IP loss than about the debt aspect of it, really. Most of the patents nowadays are for products that are manufactured overseas anyways--it's not like any of those profits stay here, they are funding jobs in India and China. Companies that have headquarters in the US often have no more than a "shell" presence, some offices for executives and administrators, while the majority of jobs and investment is overseas. It's been that way for a while now.

Money goes out, it doesn't come back, then we take on debt from their banks so that we don't have any political leverage to address the trade deficits...

 

[pips&peeps]

I don't think the economy was as bad as they were saying until recently. All the hype has made everyone panic and now there really is a problem.

It all started because those big banks and credit companies were paying their CEO's an insane amount of money and they started whining because they started losing too much. It doesn't take a genius to figure that one out. Well, fire the guy and find someone who will run the company better for less money. I am sure there are lots of people out there!!!!

 

[I have WHAT in my yard?]

Please, please check these out.


http://www.chrismartenson.com/crashcourse

There is a ton of useless fear mongering out there. But, there is also alot of head in the sand this is just a normal business cycle thinking out there too.

I am not cashing out my stocks, but I am not buying any right now either. I could and maybe that would be how I could become a millionaire, but I don't trust anyone's books these days so no go for me and most other people.

I am buying though. Canning supplies, things we cannot make or reproduce. Things the chickens will need, lumber and chicken wire etc, extra feed for them and dogs though both could manage on scraps. A generator. And booze for bartering. Have already made deals of eggs for spring plants and produce for meat in the fall.

Hope for the best - plan for the worst worst thing that can happen is I have more supplies of some things than I need and I might look a little foolish to some.

As is I already lost a fortune believing the people who said not to look behind the curtain. I peeked. Ain't no wizard there.

 

[geareduplyn]

This whole mess can be solved with two executive orders. Do away with the capital gains tax and the business tax. Manufacturing will move back to this country in droves. The only way that the economy can be sustained is the the production of real consumable goods. On another topic. I keep hearing that at least 40% of the population pays no income taxes. This is not right. It's a privlege to live in a country such as ours and everyone should have some fiscal responsibility even if it is only a few dollars.