Sunday, November 28, 2004

Driving off the economic cliff??!

Driving off the economic cliff



by Ronald Bleier

November 28, 2004





Articles in the NYT in the last two days demonstrate the inability of the American political culture to respond to its most pressing economic threats: out of control budget and trade deficits and threats to the dollar. Once the international community loses confidence in the dollar, the U.S. and the world economy is at risk.



The first is an article detailing loss of international support for the dollar (“Foreign Interest Appears to Flag As Dollar Falls,” 11.27.04) and the second is an article on Social security “reform” (Vast Borrowing Seen in Altering Social Security,” 11.28.2004) --a plan that needs no reform, as it continues its decades long surplus, and will continue to pay its way through 2042 and could continue indefinitely with minor adjustments. (See links to the Times articles below.)



The current drive to destroy Social Security is a remarkable demonstration of the ability of the right wing to advance its agenda in the face of facts and common sense. The current plan, not unlikely to become law within a year, is so bad that a year before the 2004 election, a special commission appointed by President Bush to promote it, gave up in despair.



Now, with another brazenly stolen election behind us, there may be no political force in this country strong enough to impede the momentum driving such plans. The only hope is that the international community will pull out of the dollar quickly enough to demonstrate to public at large that increasing the debt involved in a Social Security privatization scheme is as untenable as it is reckless and irresponsible. Another possibility is that the stock market could crash at a politically sensitive moment.



Such reflections only go to show how much pain will be required to interrupt the plans of the radical extremists running our government who repeatedly demonstrate that they are impervious even to the most immediate economic threats not to mention to the most fundamental needs of their people.

***

New York Times
Foreign Interest Appears to Flag as Dollar Falls

November 27, 2004
By EDMUND L. ANDREWS

Investors and analysts are increasingly worried that the
last big source of support for the American dollar - heavy
buying by foreign central banks - is fading.

http://www.nytimes.com/2004/11/27/business/27dollar.html?ex=1102664308&ei=1&en=1c58f887e4c17fab



New York Times
Bush's Social Security Plan Is Said to Require Vast Borrowing

November 28, 2004
By RICHARD W. STEVENSON

The plan for personal accounts could require borrowing from
hundreds of billions to
trillions of dollars over 10
years.

http://www.nytimes.com/2004/11/28/politics/28secure.html?ex=1102662806&ei=1&en=d8a48189756234f5

***
Ronald Bleier
Editor, DESIP
The Demographic, Environmental and Security Issues
Project (DESIP)
http://desip.igc.org

15 Comments:

Blogger Charlie said...

Hi,
Do think you could get a banker's desire to force money into your laps?

home finance enligtens about home finance

October 19, 2005 at 7:11 PM  
Blogger kredietlenenhypotheken said...

Hi Ronald,

Surely a nice blog you have here! Very informative!

I have a site about hypotheken. This means mortgages.

You may want to come and visit sometimes! I hope you do not mind me bookmarking your blog, so I can come back sometimes!

Hope to see you on my hypotheken site.

Regards,

Walter

November 16, 2005 at 4:21 PM  
Blogger kredietlenenhypotheken said...

Hi Ronald,

Surely a nice blog you have here! Very informative!

I have a site about hypotheken. This means mortgages.

You may want to come and visit sometimes! I hope you do not mind me bookmarking your blog, so I can come back sometimes!

Hope to see you on my hypotheken site.

Regards,

Walter

November 16, 2005 at 7:39 PM  
Blogger kredietlenenhypotheken said...

Hi Ronald,

Surely a nice blog you have here! Very informative!

I have a site about krediet. This means credit.

You may want to come and visit sometimes! I hope you do not mind me bookmarking your blog, so I can come back sometimes!

Hope to see you on my krediet site.

Regards,

Walter

November 16, 2005 at 11:05 PM  
Blogger kredietlenenhypotheken said...

Hi Ronald,

Surely a nice blog you have here! Very informative!

I have a site about hypotheek. This means mortgage.

You may want to come and visit sometimes! I hope you do not mind me bookmarking your blog, so I can come back sometimes!

Hope to see you on my hypotheek site.

Regards,

Walter

November 16, 2005 at 11:05 PM  
Blogger kredietlenenhypotheken said...

Hallo Ronald , Als je bij een bank niet slaagt voor financieringen heb je dan nog kans op financieringen bij bijvoorbeeld postkrediet?

December 6, 2005 at 1:36 AM  
Blogger alberthaanstra said...

Hi, Als je bij de bank niet slaagt om te lenen, heeft men bij online lenen dan nog wel kans op succes?

Groeten Albert.

Ps, heb je al gehoord van de nieuwste ringtonen? Een ringtone met je eigen naam erin! Supercool en grappig. Luister naar je eigen naam in een ringtone op naambeltonen.info

December 8, 2005 at 1:57 PM  
Blogger krediet said...

Als je opzoek bent naar goede hypotheken Kun je volgens mij het beste bij Afab terecht. Ze zijn volgens mij de grootste in hypothekenen in Nederland. En dat is niet zomaar.

December 21, 2005 at 3:44 PM  
Blogger Mortgage Center said...

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I also have a web site & blog about mortgage calc so I know what I'm talking about when I say your site is top-notch! Keep up the great work!

December 24, 2005 at 10:06 PM  
Blogger alberthaanstra said...

Hi Ronald ,

Heb jij wel eens krediet bij Afab gehad? Ik heb namelijk gehoord dat ze de tweede in Nederland zijn op het gebied van kredieten
Dat lijkt me trouwens niet zomaar.
Ik hoop de ervaringen snel te lezen.

Groeten,

Albert Haanstra

January 9, 2006 at 9:46 AM  
Blogger alberthaanstra said...

Hallo Ronald ,

Wat een mooi blog heb je hier! Succes ermee!

Groetjes Albert hypotheek
Van Leeuwenhoek Lyceum, Hoofddorp.

January 31, 2006 at 4:49 PM  
Blogger alberthaanstra said...

Hi, You have a great site!
I was looking for a Dutch site on lenen and Google gave your blog too. I thought it was cool! :-) Thanks!

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