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Old November 24th, 2004 #1
Sean Martin
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Join Date: Jun 2004
Posts: 9,397
Default Who's Hi-Tech & Who's Third World?

Who's Hi-Tech & Who's Third World?
by Paul Craig Roberts
In the early 1980s, when I was assistant secretary of the
treasury, the U.S. trade deficit was due to oil imports.
Currently, the U.S. deficit in manufactured goods alone is 3.5
times our oil imports. Our trade deficit in vehicles is nearly
equal to our deficit in oil, and our deficit in clothing ,
computer equipment, office machines, TV and VCRs is 1.5 times
our oil import bill.

America has a trade deficit in almost every manufactured product.
Comparing the first eight months of this year to the first eight
months of last year, our trade deficit is manufacturing products
increased by 16 percent. In iron and steel mill production, it
increased 146 percent.

The United States is ceasing to be a manufacturing country.

The only manufacturing products in which the United States has
a (small) trade surplus is airplanes and scientific instruments.

The United States also has a trade surplus in corn, cotton,
wheat, scrap metal and animal feeds.

Since 1985, the U.S, trade balance with China has deteriorated
from balance to a deficit of $160 billion.

Who has the high-tech economy, and who has the Third World
economy?

Normally, Third World countries run trade deficits with high-tech
countries.

Charles McMillion, president of MBG Information Services, notes
that the U.S.-China trade relationship is the most unequal in the
world. The United States has a trade deficit with China in almost
every industry code. The U.S. deficit in advanced technology
products with China is astounding.

How was it possible for China, alone in world history, to outpace
the most advanced country on earth? Was China elevated to the
forefront by U.S. firms who moved their production for the
American market to China in order to take advantage of
essentially free labor?

Americans no longer produce the "American goods" that they
consume. American incomes are falling, as economist Joseph
Stiglitz recently pointed out.

When the dollar gives way, as Dallas Federal Reserve Bank
President Robet McTeer says it must, Americans will not be able
to purchase the goods and services that American firms produce
abroad with foreign labor.

U.S. firms will have to sell their offshore-produced wares to the
labor that produces them.

"Cheap foreign goods" will be beyond the reach of Americans,
whose country is in rapid transformation from a superpower to a
Third World economy.

-- from American Free Press, Nov 8, 2004

[Only the import-export corporations benefit from "free trade"
and Jew-Know-Who owns most of them.]
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Old December 31st, 2004 #2
Proud White Guy
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Join Date: Jul 2004
Location: Southern Mexifornia
Posts: 4,361
Default

Good find Doc.

There is a lot of truth to that article,and it has been going on for quite a while,but being as people are making less and less.

With a deficit at approx 7.5 trillion,and growing,it won't be too long till the whole house of cards comes tumblin down.

The loss of Manufacturing has been going on for a long time.I grew up on the south side of Chicago,and in the late 60's and 70's is when they closed down a lot of the steel mills,and that was the start of it.

It has only gotten worse,and with the outsourcing companies are doing(they are also having trouble getting competent people,mainly due to our dumbing down of the school system).

Coupled with the skinskinned immigrants that we allow to come here,this is helping dumb us down at an alarming rate.Not to mention the fact that all these idiots are having 6 kids.(stupid have stupid children),and lots of them.

The dollars value is dropping like a rock,and the part that really gets to me,is when I mention this to people,all I get is a blank stare most of the time.

Lots of people have no undertsanding of economics,whatsoever. If you import more the you export.You eventually go broke.

The only reason I think this country has lasted as long as it has.was because of the strength and foundation laid to begin with,back in the 50's this country was White,and Strong,it has taken this long with all these ridiculous immigration,and affirmative action policies to fuck it up,but the train is going downhill,and picking up speed-FAST!!!

I am convinced that I will live long enough to see this country turn into a turd world ghetto. I give it 10 years.

Buy all the silver,and gold you can,and make sure you get yourself well armed with plenty of ammo,but its coming,make no mistake about it.
 
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