Comments on: U.S. Economic Outlook for 2009

By: Gerald Spencer

Gerald Spencer — Fri, 05 Jun 2009 21:49:53 +0000

We are losing the Economic War!
It does not matter how we reverse the balance of trade as long as we stop the flow of gold, dollars, T-bills, Government Bonds, title to US located property, and other US assets from The USA to other countries, in payment for the things that they make for us to consume, and for additional quantities of their US dollars to pay for our government expenses.
A Trade Deficit is created when the USA importing, transportation, distributing and retail sales companies such as WalMart, Home Depot, NTB and etc. pay companies and individuals in foreign countries like China with US dollars to manufacture the things that these US businesses import, distribute, and then sell to the US consumers. Manufacturers such as GM, Ford, GE, Chrysler, GE, Westinghouse and etc. manufacture vehicles, appliances, and equipment made with imported parts that they paid the companies in the foreign countries with US currency to manufacture these parts for assembly of the finished product in the USA that is then sold to US consumers.
The US government also “borrows” US dollars (actually they sell freshly printed-paper T-Bills, US Government Bonds, and other US securities at public auction to China, private individuals, and other industrialized countries that earn US dollars mostly by manufacturing things for international trade) to pay US government expenses including negative balance of trade, wars, military jets with active duty military USAF pilots for the personal use of specially privileged members of congress (Pelosi), employee payrolls, government retirement checks, courts, federal police, failed business bailouts, cash bonuses to the various Wall Street forgers of SEC documents that contributed to political campaigns, Las Vegas corporation junkets for failed corporation employees, house mortgages for big spenders with bad credit, new multi-million dollar French manufactured personal corporate jets for political contributor’s bankrupt corporations, pork barrel projects, research contracts, welfare, social security, Medicare, Medicaid, SSI, expensive corporate vacations, new infrastructure, wealth re-distribution, mental health, imported consumer goods and etc., and any other thing that congress and the president decides to use taxpayer money to acquire, build or just give to their political contributors and various other privileged individuals with borrowed US dollars. If taxes taken in each year are not sufficient to pay these expenses, then the government just prints more paper T-Bills, Government Bonds, etc. and borrows US dollars from people who are holding US dollars (foreign manufacturers) in exchange for these freshly printed T-Bills, Government Bonds, etc.

By: Trade Deficit Grows, Despite Record Decline in Oil Prices

Trade Deficit Grows, Despite Record Decline in Oil Prices — Wed, 08 Apr 2009 19:20:19 +0000

[...] Money Morning: U.S. Economic Outlook for 2009 [...]

By: isaac olanrewaju

isaac olanrewaju — Sun, 18 Jan 2009 19:05:52 +0000

When men say there is recession, we will say there is possession. The time of economic recession is a time of wealth transfer. The greed of men is the reason behind the economic down turn of America. The treasure of the whole world locked up in a treasury; now the treasure box is broken and the cargoes are threw inside the raging storm of economic crunch. The blind at the wall street could not see until calamity befall the world economy. Its a mess that will take years to clear. Its beyond the power of financial experts that wererecruited from nooks and crannies of this world.
This is a tempest sent to wreck the whole world; Yet, its a time of wealth transfer!

By: Will the Loss of Consumer Credit Serve as the Next Economic Aftershock to Further Fuel the Financial Crisis?

Wed, 17 Dec 2008 20:36:35 +0000

[...] Those numbers are worse than Goldman originally forecast, and create an outlook similar to Money Morning’s projections, which called for a credit-crisis-nurtured economic downturn that could last as long as 12-18 months. [...]

By: Internet Marketing

Internet Marketing — Mon, 15 Dec 2008 06:04:56 +0000

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By: Jutia Group - Market Jitters & Political Critters

Jutia Group - Market Jitters & Political Critters — Tue, 02 Dec 2008 15:14:07 +0000

[...] Those numbers are worse than Goldman originally predicted, and create an outlook similar to Money Morning’sprojections, which called for a credit-crisis-nurtured economic downturn that could last as long as 12-18 months. [...]

By: November Unemployment Statistics to Highlight Economic Reports This Week

November Unemployment Statistics to Highlight Economic Reports This Week — Mon, 01 Dec 2008 20:50:42 +0000

By: Met Seward

Met Seward — Fri, 28 Nov 2008 19:36:59 +0000

I think good quality banks are a bargin and if I had any money to invest thats where it would .,ie BB&T no body has mensioned what they are donig to save as many people considering forclousere and the program they all ready have in the works cost them seven million dollars to get it up and running and guess what it is working. Than there is Prudential, Wells Fargo and a local bank Independent, all still paying dividients.

By: danny

danny — Thu, 27 Nov 2008 10:29:17 +0000

Where is the money going to come from to push up the markets – do you think the 1 or 2% mutual funds have in cash will push the market – or the family that has already lost 5-600,000 has the money – you paint a rosey picture but does it matter how cheap something is if you have no money to buy it.

By: Andy

Andy — Mon, 24 Nov 2008 16:53:07 +0000

Great outlook and some sobering predictions. Consumers have to buckle up for a wild ride in 2009.