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LetsGoBucsWe are the problem. Voters that continue to elect weak politicians on the basis of "what they will do for you" are to blame for the mess we have. And it is a mess.
I hate to say this but the USA has put ourselves in a difficult position. The weakness of the dollar is a national embarrasment. People all over the world are changing their savings accounts out of USD into their national currencies. With the USD weakness two critical things will happen over time - our businesses will be bought by foreign companies, and we become laborers to the world instead of the capitalists of the world - and US based businesses will find it tougher to expand overseas due to costs. Both of these are things that happen slowly over time and both reduce our standard of living over time.
We continue to spend on social programs instead of investing in infrastructure. We spend more per pupil than any country in the world, yet have mid tier education system because we bend over backwards for the teacher's unions. We allow unfair trade, Europe imposes VAT taxes on all imports - guess what that really is - its an import duty. We don't impose any import duties on their goods and services. We've helped Brazil pass us by in agriculture, allowed our steel industry to become second rate after 3 decades of other countries subsidizing their industries, imposed stupid immigration rules that discourage the best and brightest from attending US universities, and we just funded about 35,000 French and German jobs with a 40 Billion award for a fuel tanker - Does anyone really think its better for a French and German company to develop the technical expertises to do this rather than an American company?
The simple truth of the matter is that Social security needs to be cut by 30%. Means testing for those earning more than 50K. Medicare also needs to be cut by 30% and the harsh truth is that some people will go without healthcare. This year, public sector employees passed private sector employees in average pay - that is simply not sustainable in a capitalist society and Government employees need to receive pay cuts and benefit reductions.
The investment from the foreign wealth funds are just the beginning. We are being taken over financially year by year. And the end result will be much less opportunity for our children and grandchildren.
If it all sounds bad - on a macro level it is. It shows what weak leaders along with an unengaged public can lead to. Soon the same type of austerity programs we used to insist on through the world bank as a condition of countries receiving loans will be imposed on the USA!
We actually need to stop lowering interest rates, accept that we have a recession. Stop spending hundreds of billions helping out empty MBA suits, cut social programs and start standing up the the USA in trade. Inflation on top of our current situation will really push us further down the slippery slope. The only bailout that should happen should be for people over the age of 50 living in a home worth less than 300K who refinanced their mortgage and its obvious they were "hoodwinked" by a slimy salesman. Everyone else will have to bear the burden of their stupidity or greediness or whatever.
We have been poorly represented by our politicians and have poorly represented ourselves by continuing to believe the unbelievable in electing them again and again.
Sorry for the long post - to answer the original intent of the post - pre war card prices are going down - average of 50% by mid 2009.