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Forum Post: The Worst In The World – The U.S. Balance Of Trade Is Mind-Blowingly Bad

Posted 12 years ago on Dec. 5, 2011, 9:57 p.m. EST by karenpoore (902)
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http://theeconomiccollapseblog.com/archives/the-worst-in-the-world-the-u-s-balance-of-trade-is-mind-blowingly-bad

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[-] 1 points by demcapitalist (977) 12 years ago

I think much of our troubles are due to the fed and government trying to cover up this simple fact. They loosened up interest rates they loosened up leverage they had us believing for a few years that we could just build each other houses and use them as ATM's. We can't keep believing that America can survive selling each other crap made in China and bad fast food.* "Every single month, far more money goes out of this country than comes into it. Tax revenues are significantly reduced as all of this money gets sucked out of our communities. The federal government, state governments and local governments borrow gigantic piles of money to try to make up the difference, but all of this borrowing just makes our debt problems a whole lot worse. In the end, no amount of government debt is going to be able to cover over the fact that our national economic pie is shrinking. We are continually consuming far more wealth than we produce, and that is a recipe for economic disaster."

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[-] 0 points by karenpoore (902) 12 years ago

Thanks. Glad you are here!

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