chief, i'm no Obama fan in any way shape or form...BUT

[plastic james]

isnt the problem with the U.S economy similar to our problems? ie its a globalised economy, meaning states do not have the same control on their economy anymore.

multinationals have moves their production to Asia and sell everything back to you.....the economic dynamism, the infrastructure and production of the U.S takes a hit because of the movement of companies. furthermore those that stay threaten the state to give them tax breaks or they will move abroad too.

this have a negative impact on revenues, which means the government needs to barrow to Fulfill Its Commitment. ppl on the right demand state to cut expenses to get around this, but to heavy cuts will lead to millions of poor and social instability. those on the left demand tax increases, but there are not enough taxes that can be collected to make this go round.

the obviously solution is for states to fight globalization of their economy and introduce heavy taxation imported goods, this will force the domestic economy to get going again.

the problem with that is no current leader in the west have the balls to make such a decision, we all saw what happened in 2008 when government after government paid the multinationals because their were to big to fail, no government should find it self in a position where a corporation is to big to fail.

i don't see Romney or Obama having a solution to this.

[Selkey - Wenger's hairpiece is a masterstroke]

[Chief Arrowhead]

excellent spelling, by the way.

In my view any impediment of the free flow of capital adds artificial barriers and incentives, and that includes doing thins at the border like taxes, tarriffs and quotas on goods. A critical part of our success in the early days was to ban individual states from protecting their products and industries by imposing such barriers on each other. Pennsylvania slapped a tarriff on New York Goods, which did the same to Virgina goods, etc. TO look back on it now that was quite silly and the fact that it was made illegal resulted in everyone prospering. the same argument could be made in present times looking at the global economy.

So, in short, no, I do not believe that artificial barriers will stop capital from eventually flowing where needed.

As far as budgets go and debt you are spot on. We, like our Western european friends, have simply promised to much to our sitizens. We have made promises we can't keep. People living longer than anyone imagined 50 years ago is a primary component, as is the mistaken notion that if you give people money they will then help themselves. thnk of all the money spent fighting poverty, yet we still have folks livingin the streets. the answer has always been MORE money and MORE programs ... and so here we are. The US now has 15% of our population on Food Stamps. 25% are on some form of government assistance.

Thomas Jefferson said our government would only work so long as people didn't figure out that they can vote more money for themselves. I think we have crossed tha marker.

[plastic james]

but i think it should be different on national level....otherwise just like states lost their power and impact on the economy...nations will lose theirs.....which will lead to the end of the nation state, something i'm 100% against as i think the nation state is the best way to exercise our democratic rights. just look at the EU and the democratic deficit it has, they makes so many laws, rules and regulations we have no say in.


as for ppl living longer than 50 years ago you're right...but we have technology and machines which are superior in their production than 50 years ago, which means we need less ppl to produce what we did 50 years ago, so ppl getting older shouldn't be a problem to cover.

as long as the nations can somehow controls its economy and borders, which is something that has been missing for 20-25 years.

[seasider7]

The influence of outside lobbyists and corporations is vile and a true stain on Government. Those guilty of this *******ization are of all political entities.

Oh for the days of 'Mr Smith goes to Washington'. should be required viewing for all elected officials.

[Gunner Since Time Began - born to moan]

[modd]

we have that is for sure

[modd]

[Chief Arrowhead]

we definitely do not want to lose national sovereignty, that's for sure. After a rethink, my assumption was flawed vecause it is based on everyone agreeing to the rules and then abiding by them. Chine, in the real world, is blatantly breaking the rules they have agreed to at pretty much every turn. That kind of behaviour should be punished by strong tariffs until they decide to play nice.

All I know is that the old folkls have been promised stuff that we might be able to deliver, but the young people are screwed unless changes are made.