"To dig out of the 'Great Recession,' Washington needs to challenge China on trade and currency manipulation - but President Barack Obama and Treasury Secretary Timothy F. Geithner must recognize that Beijing only has the leverage Washington gives it.
"The nation needs to realize that this is no Eisenhower recession, caused by too much inventory. Rather, this meltdown was caused by structural imbalances in the global economy that no stimulus spending can fix.
"Dysfunctions on Wall Street notwithstanding, China and several other developing countries produce far more than they consume and enjoy huge trade surpluses, thanks to artificially undervalued currencies, export subsidies and import restrictions. Those require the Americans to consume far more than they produce and for the United States to amass huge trade deficits and foreign debt - otherwise, global demand falls short of supply and unemployment skyrockets.
"Once Americans were no longer able to live beyond their means, the global economy collapsed, and President Barack Obama has volunteered the federal government as the borrower of last resort. Now China says Washington borrows too much. That's like a drug pusher complaining about his clients' addiction. Yet, Mr. Obama appeases Beijing by offering to share stewardship of the global economy with this renegade mercantilist.
"China's purchases of U.S. Treasuries and threat to quit buying are the elephant in the room. But those purchases are made necessary only by China's huge hoard of dollars that is contrived by Beijing's massive sale of yuan for dollars on foreign exchange markets to keep the yuan cheap, exports flowing, and jobs moving from Indiana to Shanghai.
"The Peoples Bank buys U.S. Treasuries because it does not have any better use for the dollars it obtains manipulating the yuan to boost exports. If it quit using those dollars to buy Treasuries, it would simply have to put those in the vault and remove them from circulation. The Federal Reserve would have to replace those dollars in circulation by purchasing the very same Treasury securities Beijing now buys. In other words, the Fed would collect the interest instead of the Peoples Bank. That's not so bad.
"How to accomplish it? To persuade China to stop buying dollars to suppress the value of the yuan, the United States should tax the purchase of yuan by American importers until China relents.
"Message to President Obama and Treasury Secretary Timothy F. Geithner: Fixing the trade problem with China would do more to boost demand for U.S. growth and employment than even massive stimulus spending could ever deliver."
From what I can tell most people are for it and agree, it's beyond stupid on a host of fronts, especially because it has medical benefits, esp. for chemo patients.
But my take is they should legalize it due to the increasing underground economy and drug cartels. I mean if alcohol is legal then by any stretch, marijuana should be legal.
But there is much more to this story in that the medical industry plain has a lock on so much, it's making fundamental care plain out of reach.
I have insurance and discovered i can get chiropractic, acupuncture, I can go get "therapy" and rehab....but I cannot get blood work without it applying to the deductible. Now how ridiculous is that when you are going in for a problem and the main diagnostic are laboratory tests. That means that people are probably forgoing needed lab. tests until it's too late.
Don't get me started. I find it (showing my libertarian views here) but it is amazing to me that a terminal cancer patient can't smoke a joint. But they'll gladly fill your body with chemo and what ever other mind/body killing drugs that they bribed the govt to legalize.
A funny thing about the drugs though is that people get upset when they become OTC. When they become OTC people must pay out of their own pocket and insurance is not paying. People get in a knot about paying for their drugs.
I remember when one of the allergy meds went OTC there was a big brew-ha-ha and people were mad because their insurance would no longer pay.
I swear it seems it is a damned if ya do and damned it ya don't. Nobody is happy.
My nephew went to India and other people I know visited India. From the pictures I don't think I'll be rushing there for any operations anytime too soon.
I'll check out that Frontline show.
I do know that I saw a blog from someone working with Obama health care team. The blog was on Japan. His blog mirrored many of my Japanese stats but left out the some of the negatives.
So, my hat is off to you. Figuring out the details, verifying sources, and trying to filter out misinformation on this topic...
well, today we had the private health industry swearing to cut $2 trillion dollars on costs....simply to save their overpriced, profitable ass.
One of the things that bothers me is I feel they are so self-protective, the AMA, beyond belief protective, a lot of lab work, really should be able to be done through self-testing, it's no big shakes really but they have a lock on that, you can't get a lot of drugs without a prescription and on and on.
I've read that India is cheap as hell and state of the art...but is that just sales and marketing to get more medical tourists? I don't know.
That said, Frontline has for the most part some good credibility (you have to watch who the producer is of the documentary) and the OECD, so far in my reading of their studies, seems to be thorough, objective.
I have to wonder how long the bond and currency markets can absorb this kind of deficit spending.
It seems many people might be wondering the same thing. Peter Cooper asks "How Will Gold Perform In The Next Market Crash?"
He too thinks the rally is over done but speculates the run into falling bond prices may not be the safe play any longer.
It has to be said that the straightforward dash from equities to bonds no longer looks such a sure bet. Bond yields have been rising, and prices falling recently, and many professional investors are seriously worried about the risk of putting money in bonds which are supposed to be the safest of safe havens.
Is it not possible then that gold and silver will now take up this role, and that therefore precious metals rather than bonds will be the principle beneficiary of the next equity crash?
I give credence to think tanks on each side of the debate. Neither has the gold ring for 100% correct or 100% wrong. The just landed site is a useful site that gives information about visiting different countries (not just about medical) and I think they give it a good shot to be correct.
If it was the British Medical Journal, I give them a pass because they are European and not an American Journal. I try to use as much non American sites as possible but sometimes it is not possible.....but I try.
Getting free treatments in different lands is always confusing. Like Canada. I hear anecdotal reports of free care for foreigners. But maybe it depends on the Province? The official Ontario Health Insurance Plan site says:
Ontario residents are eligible for provincially funded health coverage (OHIP). To be eligible for Ontario health coverage you must :
Be a Canadian citizen or have immigration status as set out in Ontario's Health Insurance Act, and
Make your permanent and principal home in Ontario, and be physically present in Ontario 153 days in any 12-month period.
OHIP coverage normally becomes effective three months after the date you establish residency in Ontario. The ministry strongly encourages new and returning residents to purchase private health insurance in case you become ill during the OHIP waiting period.
My sister was visiting in the UK and needed an ambulance trip to the ER. She received an $1,100 bill for the service. But then I read people saying they, as a visitor, received free care. I've never had the $$$ to globe trot to foreign countries to investigate so I can only use what I hear or read.
Canada has been trying their best to work on those wait times. They initiated the the Wait Times Reduction Fund.
It took a lot of time to research the different plans and I tried my best to have things correct. I want to know if someone can point out sites to show any flaws, I want to know. I don't want to present incorrect information.
I do know that countries are always changing the rules.
Clean Water, Clear Skies, No Child Left Behind ... let's not forget Iraq and Afghanistan.. and of course there was Katrina ..... the Bush doctrine that just keeps on giving.
Firstly Detroit is a 3rd world country, so it doesn't get more cheap frankly, and precisely where are they moving to...China perhaps?
I mean this is ridiculous, it's like GM is going to declare bankruptcy and basically move/sell the entire company offshore...and that's after getting as much money as possible from the United States.
Is there anyway the U.S. can plain seize GM, take it over for it's citizens, clean it up and then reprivatize it at a later date?
I would like to see some quotes and references from the OECD for one and probably other more objective analysis. I checked some of your links and they are think tanks, for the profit of the medical business sector.
The OECD has done a lot of studies on health care systems.
Also, I've written a few pieces on health care costs.
In the documentary Sick around the World, Frontline, they list a host of additional resources, experts for analysis.
For example, I actually lived abroad, I did get ill and no one checked my citizenship status or anything and it was free. The prescription, which I had in the U.S. to the tune of $130 bucks cost $11 dollars for me and I believe that was because I did not have some sort of insurance card from Finland. So, something isn't adding up here in your analysis.
In Canada, this is from about 10 years ago, I did hear about long waiting lists for necessary heart surgery. People were driving to the U.S. to get it because they could not wait.
Between 2010 and 2012. How will this "road to recovery" avoid the 50% of the population that will blame Obama for the 2010 depression, and why won't the capitalists simply move to lower-cost labor markets where the government allows slavery?
The way I see it, either Obama gets the economy back to massive job creation by February 2010- or he's going to end up a one-term President with a worse reputation than Herbert Hoover.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
Ya all, look at your blogs like your significant other would look at you decorating the house. Does bright red go with a brown red? Does blue go with a fall color scheme?
If your SO is female, would you think she looked great with massive blue eyeshadow, bright red cheeks of blush and purple lipstick?
Think about it when you format your posts. Instead of enhancing what you want to say, you can detract significantly from the content.
And July 1 marks the next fiscal year. My only question, will the Obama admin deliver enough federal programs done by state workers to offset massive layoffs?
If not, then I do not really understand how we can avoid this being the final straw into a wage/price deflationary spiral.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
I note may are now referring to the "W" type of recession instead of the "V" which you have mentioned many times.
I hope all of those believing their 401ks are recovering read this. That's the problem with gambling retirement on the stock market. So many get burned by these crashes.
More I think about it, that would make an excellent blog post. Just how many people lost everything in retirement savings from 2000-2001, 2008, now, since these 401ks came into being? What is also the real return on them, IRAs, SEPs, etc. for the last decade.
Firstly, welcome to EP and did you know you can create an account, on the upper right hand corner, login? A host of features appears, you no longer have to type in letters to prove you are a human and there is a tracking system so you can see who replied to your comments. I mention it because you are commenting a lot.
"To dig out of the 'Great Recession,' Washington needs to challenge China on trade and currency manipulation - but President Barack Obama and Treasury Secretary Timothy F. Geithner must recognize that Beijing only has the leverage Washington gives it.
"The nation needs to realize that this is no Eisenhower recession, caused by too much inventory. Rather, this meltdown was caused by structural imbalances in the global economy that no stimulus spending can fix.
"Dysfunctions on Wall Street notwithstanding, China and several other developing countries produce far more than they consume and enjoy huge trade surpluses, thanks to artificially undervalued currencies, export subsidies and import restrictions. Those require the Americans to consume far more than they produce and for the United States to amass huge trade deficits and foreign debt - otherwise, global demand falls short of supply and unemployment skyrockets.
"Once Americans were no longer able to live beyond their means, the global economy collapsed, and President Barack Obama has volunteered the federal government as the borrower of last resort. Now China says Washington borrows too much. That's like a drug pusher complaining about his clients' addiction. Yet, Mr. Obama appeases Beijing by offering to share stewardship of the global economy with this renegade mercantilist.
"China's purchases of U.S. Treasuries and threat to quit buying are the elephant in the room. But those purchases are made necessary only by China's huge hoard of dollars that is contrived by Beijing's massive sale of yuan for dollars on foreign exchange markets to keep the yuan cheap, exports flowing, and jobs moving from Indiana to Shanghai.
"The Peoples Bank buys U.S. Treasuries because it does not have any better use for the dollars it obtains manipulating the yuan to boost exports. If it quit using those dollars to buy Treasuries, it would simply have to put those in the vault and remove them from circulation. The Federal Reserve would have to replace those dollars in circulation by purchasing the very same Treasury securities Beijing now buys. In other words, the Fed would collect the interest instead of the Peoples Bank. That's not so bad.
"How to accomplish it? To persuade China to stop buying dollars to suppress the value of the yuan, the United States should tax the purchase of yuan by American importers until China relents.
"Message to President Obama and Treasury Secretary Timothy F. Geithner: Fixing the trade problem with China would do more to boost demand for U.S. growth and employment than even massive stimulus spending could ever deliver."
--Prof. Peter Morici. His e-mail is pmorici@rhsmith.umd.edu.
From what I can tell most people are for it and agree, it's beyond stupid on a host of fronts, especially because it has medical benefits, esp. for chemo patients.
But my take is they should legalize it due to the increasing underground economy and drug cartels. I mean if alcohol is legal then by any stretch, marijuana should be legal.
But there is much more to this story in that the medical industry plain has a lock on so much, it's making fundamental care plain out of reach.
I have insurance and discovered i can get chiropractic, acupuncture, I can go get "therapy" and rehab....but I cannot get blood work without it applying to the deductible. Now how ridiculous is that when you are going in for a problem and the main diagnostic are laboratory tests. That means that people are probably forgoing needed lab. tests until it's too late.
Don't get me started. I find it (showing my libertarian views here) but it is amazing to me that a terminal cancer patient can't smoke a joint. But they'll gladly fill your body with chemo and what ever other mind/body killing drugs that they bribed the govt to legalize.
A funny thing about the drugs though is that people get upset when they become OTC. When they become OTC people must pay out of their own pocket and insurance is not paying. People get in a knot about paying for their drugs.
I remember when one of the allergy meds went OTC there was a big brew-ha-ha and people were mad because their insurance would no longer pay.
I swear it seems it is a damned if ya do and damned it ya don't. Nobody is happy.
My nephew went to India and other people I know visited India. From the pictures I don't think I'll be rushing there for any operations anytime too soon.
I'll check out that Frontline show.
I do know that I saw a blog from someone working with Obama health care team. The blog was on Japan. His blog mirrored many of my Japanese stats but left out the some of the negatives.
So, my hat is off to you. Figuring out the details, verifying sources, and trying to filter out misinformation on this topic...
well, today we had the private health industry swearing to cut $2 trillion dollars on costs....simply to save their overpriced, profitable ass.
One of the things that bothers me is I feel they are so self-protective, the AMA, beyond belief protective, a lot of lab work, really should be able to be done through self-testing, it's no big shakes really but they have a lock on that, you can't get a lot of drugs without a prescription and on and on.
I've read that India is cheap as hell and state of the art...but is that just sales and marketing to get more medical tourists? I don't know.
That said, Frontline has for the most part some good credibility (you have to watch who the producer is of the documentary) and the OECD, so far in my reading of their studies, seems to be thorough, objective.
Does this mean that 64 cents of every dollar the federal government spends comes from *current* tax revenue?
Or does it mean that for every $1 of current tax revenue, we're spending $1.46?
The second would be far more worrying than the first.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
It seems many people might be wondering the same thing. Peter Cooper asks "How Will Gold Perform In The Next Market Crash?"
He too thinks the rally is over done but speculates the run into falling bond prices may not be the safe play any longer.
It has always been about class warfare.
I give credence to think tanks on each side of the debate. Neither has the gold ring for 100% correct or 100% wrong. The just landed site is a useful site that gives information about visiting different countries (not just about medical) and I think they give it a good shot to be correct.
If it was the British Medical Journal, I give them a pass because they are European and not an American Journal. I try to use as much non American sites as possible but sometimes it is not possible.....but I try.
Getting free treatments in different lands is always confusing. Like Canada. I hear anecdotal reports of free care for foreigners. But maybe it depends on the Province? The official Ontario Health Insurance Plan site says:
Ontario residents are eligible for provincially funded health coverage (OHIP). To be eligible for Ontario health coverage you must :
My sister was visiting in the UK and needed an ambulance trip to the ER. She received an $1,100 bill for the service. But then I read people saying they, as a visitor, received free care. I've never had the $$$ to globe trot to foreign countries to investigate so I can only use what I hear or read.
Canada has been trying their best to work on those wait times. They initiated the the Wait Times Reduction Fund.
It took a lot of time to research the different plans and I tried my best to have things correct. I want to know if someone can point out sites to show any flaws, I want to know. I don't want to present incorrect information.
I do know that countries are always changing the rules.
Clean Water, Clear Skies, No Child Left Behind ... let's not forget Iraq and Afghanistan.. and of course there was Katrina ..... the Bush doctrine that just keeps on giving.
Link
get half-ass treatment but programs helping financial conglomerates/financial oligarchy get full attention and resources from the government.
This program was window dressing for Bush. It was not suppose to succeed and it not surprising that a predatory lender would profit from it.
I didn't need to read this post to know that. The fact that the S&P is increadibly overbought by every measure says so.
"Sell in May and go away"
Everybody I know has thought it looks nice, this is the first I've heard of anyone thinking it looks bad.
BTW: if you want your corporate blue/white, you can switch your theme to Amadou.
Jez. I even did a poll on the look of the site originally...everybody liked it.
While I agree with your fashion police statement can detract from the message.
You, should be the last one pointing fingers with that green and yellow eyesore color scheme. ;o)
moving corporate headquarters.
Firstly Detroit is a 3rd world country, so it doesn't get more cheap frankly, and precisely where are they moving to...China perhaps?
I mean this is ridiculous, it's like GM is going to declare bankruptcy and basically move/sell the entire company offshore...and that's after getting as much money as possible from the United States.
Is there anyway the U.S. can plain seize GM, take it over for it's citizens, clean it up and then reprivatize it at a later date?
This is outrageous, outrageous what GM is doing.
I would like to see some quotes and references from the OECD for one and probably other more objective analysis. I checked some of your links and they are think tanks, for the profit of the medical business sector.
The OECD has done a lot of studies on health care systems.
Also, I've written a few pieces on health care costs.
And this health care tags.
In the documentary Sick around the World, Frontline, they list a host of additional resources, experts for analysis.
For example, I actually lived abroad, I did get ill and no one checked my citizenship status or anything and it was free. The prescription, which I had in the U.S. to the tune of $130 bucks cost $11 dollars for me and I believe that was because I did not have some sort of insurance card from Finland. So, something isn't adding up here in your analysis.
In Canada, this is from about 10 years ago, I did hear about long waiting lists for necessary heart surgery. People were driving to the U.S. to get it because they could not wait.
Between 2010 and 2012. How will this "road to recovery" avoid the 50% of the population that will blame Obama for the 2010 depression, and why won't the capitalists simply move to lower-cost labor markets where the government allows slavery?
The way I see it, either Obama gets the economy back to massive job creation by February 2010- or he's going to end up a one-term President with a worse reputation than Herbert Hoover.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
Ya all, look at your blogs like your significant other would look at you decorating the house. Does bright red go with a brown red? Does blue go with a fall color scheme?
If your SO is female, would you think she looked great with massive blue eyeshadow, bright red cheeks of blush and purple lipstick?
Think about it when you format your posts. Instead of enhancing what you want to say, you can detract significantly from the content.
And July 1 marks the next fiscal year. My only question, will the Obama admin deliver enough federal programs done by state workers to offset massive layoffs?
If not, then I do not really understand how we can avoid this being the final straw into a wage/price deflationary spiral.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
I note may are now referring to the "W" type of recession instead of the "V" which you have mentioned many times.
I hope all of those believing their 401ks are recovering read this. That's the problem with gambling retirement on the stock market. So many get burned by these crashes.
More I think about it, that would make an excellent blog post. Just how many people lost everything in retirement savings from 2000-2001, 2008, now, since these 401ks came into being? What is also the real return on them, IRAs, SEPs, etc. for the last decade.
Firstly, welcome to EP and did you know you can create an account, on the upper right hand corner, login? A host of features appears, you no longer have to type in letters to prove you are a human and there is a tracking system so you can see who replied to your comments. I mention it because you are commenting a lot.
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