Howard Davidowitz sees a similarly horrific future [similar to Japan and Zimbabwe] in store for the U.S. He calls America’s current path, rich in deficit spending and weak in currency a “road to nowhere.”
Blame is only on the communist/fascist government during the Bush era. He allowed ( implemented) redistribution of real estate loans to people who needed, who wanted, and who could not afford to pay back for extorted loans. The communist/fascist Bush regime also expanded state and federal spending into deficit. The Communist state of California recently raised property taxes, special assessment property taxes, sales taxes, and state taxes because communists servants (government servants) lead by unionized communists — mainly teachers, policemen, and other criminals — wanted more and more for themselves only and exclusive benefits to the privileged few communists in government.
We should also realize that student tuition was raised more than 30 per cent because teachers would not accept less pay and benefits. All excessive salaries and benefits of criminal – government servants in California must be reduced until we have balanced budget. But first – all property taxes must be liquidated , sales taxes must be reduced. Remember that all deficits are funded by stolen money from you by government servants. They are like criminals, mafia, and other corrupted individuals. Watch you taxes because you are likely to see massive increases that goes against the constitution which allows us to be protected against criminal acts of government employees. It is time to take some action and defend our constitution.
America (USA & Canada) have learned that the transfer of labor from manufacturing to Asia results in loss of ability at home, and not only the ability to manufacture products. It is the ability to improve these products and, possibly, the ability to invent new products that matters and produces wealth for a nation. People in Asia are intelligent people who will find ways to improve manufacturing techniques and improved products. The original designers in America are left behind every day.
Look at how many products are not made here: cameras, semiconductors, computer components, consumer electronics. It is time we took back the initiative and began designing and manufacturing new products using U.S. and Canadian workers. The sad state of the auto companies in Canada and the United States shows that this industry is in grave danger.
Four things need to be done:
- The banks need to put funds into companies that manufacture goods in America.
- Companies need to bring manufacturing home.
- Companies and governments need to fund Research & Development.
- The educational institutions need to improve and to graduate better trades people, better technicians, better designers and better, more responsible executives.
Howard Davidowitz Sees Our Future And It Is Japan
Posted Dec 01, 2009 11:37am EST by Henry Blodget
Many economists draw comparisons between the United States now and Japan in 1990.
For those who aren’t familiar with Japan’s recent economic history, this is not a good thing. Japan’s stock market peaked in 1989 at about 40,000. It now trades around a quarter of that level, or 10,000. GDP, meanwhile, has barely grown at all.
Economists used to refer to Japan’s malaise as “a lost decade.” Now they’re saying “lost decades.”
Our guest Howard Davidowitz sees a similarly horrific future in store for the U.S. He calls America’s current path, rich in deficit spending and weak in currency a “road to nowhere.”
He also doesn’t buy the arguments of those who reassure us that Japan’s problems are “cultural” and “demographic”–and, therefore, that it’s different here. Japan’s problems are the same as our problems (artificially low interest rates and a bailout culture), Davidowitz says. The only difference is that we’re about 20 years earlier into the collapse.
If we are Japan, what is the outlook for the stock market (and your retirement savings)? Not good.
You can see the full article at Yahoo News
Investor Jim Rogers predicts lost decade to USA
06.10.2008 Source: Pravda.Ru
Jim Rogers, a renowned global investor, criticizes the plans to support bankrupt banks and described the events happening currently in Washington and New York as an ill omen for not only the USA alone, but for the whole world. One should clean the financial system, and not look for any ways of how to support it further, the specialist said in a recent interview with Handelsblatt.
If issuing banks and finance ministers are exhausted after the collection of the huge emergency package, the markets will face even bigger problems next year, Rogers believes.
The investor said that it could be a good opportunity to let all investment banks, which were previously well-managed but had no respect to banking business principles, go bankrupt. Those banks had the whole world involved in the current crisis, Rogers said.
It will take America a lot of time to overcome the consequences of the crisis, the expert added. Jim Rogers compared the current state of affairs with Japan of the 1980s – this time period is known in the history of Japan as “the lost decade.”
You can read more from Pravda.ru