How Will US Economy Most Impact Canada?

[parsley]

The US economy is hanging by the neck and I suspect the spasmodic jolting will soon become evident. Here is their financial sheet:

....$1.5 TRILLION deficit

....40% increase in Government employee hiring.

.....Unfunded Liabilities $105 TRILLION (includes old age pensions etc)

...... $13 TRILLION Debt

.... 9% Unemployment

...The US Government has backed 96.5% of all home loans

...Boss Tweed era

[cottonpicken]

That means stuff will get cheaper,right?

[TOM4CWB]

Pars,

The Chinese do the same things... but because their economy is state run, anything their gov does is... 'good'!

Currency manipulation...Import/export taxes, price controls, subsidies... all are just fine.

What a crazy world.

And we in the west swallowed it hook line and sinker!

[parsley]

Tom, in your opinion, how do Western farmers best protect themselves from the economic tsunami that is headed our way?

[parsley]

Only in quality, cott

[jensend]

marc faber said the other day on bnn that in some respects the usa is worse off than the european countries and he expects the whole global economy to crash and we can hit reset. that's how i see it playing out too. the economies have been so hobbled by corporate and individual entitlements that efficiencies in the marketplace are very low. don't worry, be happy. faber got a good laugh when he said if obama comes on tv now he switches to a video of lady gaga.

[jensend]

http://watch.bnn.ca/market-morning/may-2010/market-morning-may-7-2010/#clip299171

http://watch.bnn.ca/market-morning/may-2010/market-morning-may-7-2010/#clip299183

doesn't think much of china either. that's getting to be a more common sentiment.

[cottonpicken]

Faber is great,thanks for the link,missed that
apperence.

[cottonpicken]

I like the "re-boot"exchange and the hacks on greece.

He kind of touched on it but never actually said that
the us government did confiscate gold in the past.

Probably the day capitilism died.

[cottonpicken]

There i go putting my foot in my mouth,he does say
it,should ptobably watch it all before posting...lol.

[cottonpicken]

Pay attention around 14.00 minutes in part one,even if
you are having a hard time understanding everything
else.

[ajl]

Bottom line is our relatively high standard of living is a thing of the past thanks to government jerking around with the economy. Mind you farm supports also contributed to this mess along with everything else. I believe that we will have a standard of living similar to that of countries like Poland come 20 yrs from now.