|
Written by Richard R. Oswald
|
|
Sunday, 04 March 2007 |
|
A friend related the story of his priest, a gentleman of Philippine extraction, who upon contemplating a common household item asked, “Is everything in this country made in China?”
Not yet Padre, but we’re working on it.
Father wasn’t being sarcastic, but simply questioning the obvious. Not even the stuff that catalogs are made of is safe from over burdening imports. Now it seems we must not only import goods, but the pages that advertise them as well. Papering over our nations trade problems is no way to approach Fast Track.
Last years 232.5 billion dollar trade gap with China is not pulp fiction, it is Fast Track off the rails.
Trackback(0)
 |
|
In the news
|
The following article appeared on the online site for Manufacturing & Technology News on November 17, 2008 and was written by Paul Craig Roberts, former Assistant Secretary of the Treasury in the Reagan administration.
By most accounts the U.S. economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a "mini-depression," but that designation might be optimistic. Russian economist Mikhail Khazin says that the "U.S. will soon face a second Great Depression." It is possible that even Khazin is optimistic.
I cannot predict the future. However, I can explain what the problems are, how they differ from past times of troubles and why traditional remedies, such as the public works programs that Reich proposes, are unlikely to succeed in reviving the U.S. economy. |
|
Read more...
|
|
TrackBack URI for this entry
Subscribe to this comment's feed