US is a free market economy? That's funny!

Only in ideological la-la-land.

I dont think we have a totally free economy, but for the most part we do. Anyone can create any supply they want, cant innovate how they see fit, can hire and fire at will for the most part. It just seem like people are arguing for a status quo, as if thats a good thing. I dont think it is. The economy needs to be free to move as it sees fit. This mean people have to constantly adapt as supply and demand changes.

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

It also means no protection and little benefit for the people whose work creates the wealth. There is no way a modern society will go back to those bad old days.

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A nation of slaves is always prepared to applaud the clemency of their master who, in the abuse of absolute power, does not proceed to the utmost extremes of injustice and oppression.
Edward Gibbon

You might want to deduct the annual deficit, supplementary war spending and SS trust looting with incurred debt from GDP before making any of those statements and depending on government numbers as your oracle.

There is no doubt that the US loses qualitiy jobs but not only the US it is mor e or less a problem of the western world.

To make it simple and easy years ago GM was the company with the most worker in the USA and now it is Warl mart. The qualitiy of these jobs in the industry were much higher than most of the new service jobs.

If the development goes on we will see huge problems especially for the lower middle class. As a GM worker you could easily belong to the middle class but most people in the service sector will have problems in the future to archive what was normal for their parents.

For example taiwan exports much more mashines than the US. The US export level here is comparable to countries like switzerland and not to talk about Japan ( seven times more or gemrnay three timees more).
The situation in the car industry is much worse. beside the fact that some foreign companies build factories in the US. The amount of car and carparts imports are increasing every year and all three US companies have huge huge problems.

A industrial job also has a much higher multiplicator ( i had to look up the english word for it but i do not want to) effect than a service job.

The US loses more industrial jobs and have a bigger problem here than germany for example because our car industry but also the mashine industry is doing more than fine. We were able to keep many of these jobs until now and the outlook is really good.
At least if the Euro does not gain to much against the asian currencies our main competitors here but even the asians can not buy dollars forever and ever.

Just listening to the news which reports that the US Dollar hit an all time low against the Euro yesterday.
Also reporting:

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...the government...is caving in...with their specious arguments couched in the...language of civil rights law, and that the churches ... likewise crumbling to...rhetoric which is nothing but heretical sophistry -- ~F Phelps
Platitudes like the one you offer are no different - and no less incorrect - than the jackass part-time Christian who says, "I'm going to heaven because I'm nice to people." It so misses the point.~Impugn

Roger. Ill also add post inventory surpluses, reverse economic goal setting, and productivity gains from trade statistical changes in wage losses.

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

GDP is calculated on transactions, nothing else. Government capital economic input based on public debt and subsequent economic flow-through without deducting same from GDP is what's known to bean counters as cooking the books. According to the US comptroller general, the rest of the world and anyone who understands accounting, an unsustainable practice. That's something those who are fond of quoting percentages of GDP to rationalize government spending normally neglect in their eagerness to believe in cooked government numbers.

Probably just more gloom and doom from those who are bad Americans (sarcasm). A majority of posters on this board spent months telling everyone how sound the US economy was and how the leaking real estate bubble would have little or no effect on that economy. How many billions has the Fed pumped into equity markets to temporarily patch the liquidity problem from declining real estate equity?

Word is "multiplier" in English.

I held a job for many years at which I was in charge of implementing accounting systems and procedures for acquisitions. Then I hired out as a consultant, strangely enough, for fraud detection in accounting departments.
What I learned and used to great advantage, was that everything eventually washes out in the cash account. All the Powerpoint presentations and ledger reports in the world cannot hide from the money trail.

It isn't really all that different in macro economics. Some statistics speak more clearly and loudly than others. Its becoming rather obvious to even the most ardent deniers, that we're in it up to our chins.

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...the government...is caving in...with their specious arguments couched in the...language of civil rights law, and that the churches ... likewise crumbling to...rhetoric which is nothing but heretical sophistry -- ~F Phelps
Platitudes like the one you offer are no different - and no less incorrect - than the jackass part-time Christian who says, "I'm going to heaven because I'm nice to people." It so misses the point.~Impugn

The U.S. economy is doing fine as long as you're willing to ignore this...

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Is our children learning? -George W. Bush

"I think—tide turning—see, as I remember—I was raised in the desert, but tides kind of—it's easy to see a tide turn—did I say those words?"—Washington, D.C., June 14, 2006

"[T]he illiteracy level of our children are appalling."—Washington, D.C., Jan. 23, 2004

I spent most of my career in corporate finance, the later portion on the treasury side and then consulted as a turn-around specialist when consultants filled the halls with executive blood. Follow the money is audit basics. Only the audit scope can limit the money trail.

The US comptroller general has been warning the government for years that they can't sustain their financial irresponsibility. That report is issued every December, right at the height of the retail season and receives negligible mass media attention as the media doesn't want to upset the advertisers buying public. As anyone who understands basic finance and economics can attest to, we're are in it right up to our chins. I follow a private list with a membership consisting of finance and economics professionals where the primary topics are not how close we are but how deep we're going to sink by industry. What posters on this board applaud regarding the US economy as reported by the government is considered on that list as cooked government garbage in and pureed garbage out. Can you say plug?

By the way, you may have heard this jobs report was revised up to 89k, and Sept posted a jobs gain also of over 100k, again primarily in health care and food service. This makes for 49 straight months of job growth.

__________________
http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

now that they have been revised you won't hear anything here bit echoes...

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No individual can plan his own existence in their view.

So the state planners must arrogate to themselves the right to manipulate any sector of the economic system if the good of “society” or the “general welfare” is paramount.

Ipso- if the rights of the individual get in the way, the rights of the individual must be sublimated.

The Road to Serfdom
FA Hayek (interpretation)


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