economic fundementals

[darkbeaver]

time to Change America by Challenging
Economic Fundamentals
by Richard C. Cook
www.dissidentvoice.org
February 18, 2007



​

gh headlines are dominated by the war in Iraq, everyone realizes there is something wrong with the US economy. But few have focused on the connection between the two.
It is clear that the post-World War II era of worldwide dollar hegemony is beginning to slip. The ideas of a "New American Century" put forth by Washington-based neocons actually may represent a last-gasp attempt to use military force to hold onto a system whereby the US has supported its domestic economy through trade domination of most of the rest of the world.

But the world has changed. The US produced half the world's GDP in 1950 vs. twenty percent in 2003. The nations of what used to be called the "Third World" are growing up. Increasingly, their vision does not include continuing as dependencies of the IMF, World Bank, and WTO, all of which have become instrumentalities of US corporate/global finance. They include many of the nations of mainland Asia, the Islamic world, Africa, and Latin America. There is also a resurgent Russia.
US dogmas cause us to view these changes as hostile and ideological, even as a "clash of civilizations." It is this way of thinking, rather than viewing other nations and regions as having their own legitimate aspirations, that is contributing toward the possibility of a larger conflagration.

The US military-industrial complex, along with the Council on Foreign Relations and similar institutions, suggests that to reach for "full-spectrum dominance" is a sign of strength. Rather it is a weakness, showing a broad-spectrum failure to devise rational, humane, and multilateral solutions to trade and economic issues. History shows that the economichttp://www.dissidentvoice.org/feb07/cook18.htm

 

[Toro]

Actually, US share of GDP has averaged around 30% since 1900. Today its about 28%. In 1900, it was 31%,

Using 1950 as a demarcation is disingenuous because it was at the end of the war and Europe lay in ruins.

The US economy will probably continue to decline relative to the rest of the world simply because China and India are rising. That's obviously good because hundreds of millions of people are improving their standards of living, but also demonstrates that capitalism, not socialism, is what is driving this higher standard of living.

 

[darkbeaver]

Nobodys arguing that capitalism is a economic engine Toro, thier arguing about the distribution problem, China and India in thier own time will undergo the same distribution problems as the western economys if they follow the same programe eh. The ruin of eurorpe was a boon to the post war American economy, fuel for the engine, what the article in part disscusses is that same economic boost and it's application today.We can't have our cake and eat it too eh.Maybe China and India and the other new players will regulate the capitalist tendencys and avoid the mess we are facing today, which seems to me to be particularly tragic because of the horrific ammounts of squandered cash and oportunity since WW11, the USA should be the best place on the planet to live, there should be no want of any kind, and it ain't that way. When the books are opened and the accountings done without the corporate spin historys going to record the twentieth century as economic insanity on a jumbo scale eh. The last grasp of Uncle Sam is terrible to behold and I don't have any faith or hope that real bloodshed and destruction on a global scale can be avoided simply because the elite ruleing class will not share the wealth unless thier compelled to do so, many will die and the destruction will be near complete. Marx was right Imperialism is the end result of Capitalism, and Imperial Capitalism is easily the most horrific machine of mankind.:wave:

 

[Toro]

Nobodys arguing that capitalism is a economic engine Toro, thier arguing about the distribution problem, China and India in thier own time will undergo the same distribution problems as the western economys if they follow the same programe eh. The ruin of eurorpe was a boon to the post war American economy, fuel for the engine, what the article in part disscusses is that same economic boost and it's application today.We can't have our cake and eat it too eh.Maybe China and India and the other new players will regulate the capitalist tendencys and avoid the mess we are facing today, which seems to me to be particularly tragic because of the horrific ammounts of squandered cash and oportunity since WW11, the USA should be the best place on the planet to live, there should be no want of any kind, and it ain't that way. When the books are opened and the accountings done without the corporate spin historys going to record the twentieth century as economic insanity on a jumbo scale eh. The last grasp of Uncle Sam is terrible to behold and I don't have any faith or hope that real bloodshed and destruction on a global scale can be avoided simply because the elite ruleing class will not share the wealth unless thier compelled to do so, many will die and the destruction will be near complete. Marx was right Imperialism is the end result of Capitalism, and Imperial Capitalism is easily the most horrific machine of mankind.:wave:

First, there is no systematic evidence that development widens economic incomes - it does in some cases and narrows in others - though it is happening in China.

Second, why do you assume there is a big distribution problem in the West? In the countries where it is more of a concern, societies have implemented fairly extensive social programs, whereas in countries where it is less of a concern, expenditures on social programs have been less. Besides, the distribution around median incomes isn't particularly wide

Third, the link isn't working, but its false to say that war has been a driver of American economic expansion. According to the St. Lous Fed, per capita GDP grew by 1.1% from 1792-1900, and grew by 2.1% from 1900-2000. Since 1970, the US economy has risen 3% per year. The US economy is remarkably strong and resilient.

 

[darkbeaver]

So there's nothing to worry about what? Maybe I do assume too much. You always have a sunny outlook and that's very reassuring, however much of the planet thinks there's a problem and there are many articles out there pointing in that direction.What's a beaver to do?:wave:

 

[tamarin]

The US is a remarkable economy. Keeps us afloat! I'm amazed at the gloom and doom I've read for over a quarter century on the US juggernaut. Virtually all of it was wrong. I'm not sure if the success of the US is due more to fundamentals than manipulation. Whatever, the titan continues to impress. The world's investor communities are full of the broken who have bet against it.