Seriously, WAY too many "libboes" just do NOT know how wealth is created. And you can't tell them, either. Oh you could, but it's like talking to a fence post.
Interesting analysis, but his solution to all of the trouble in the US is a protectionist import tax.
You are refering to this part ... ?? "The only way that the US will again have an economy is by bringing back the offshored jobs. The loss of these jobs impoverished Americans while producing oversized gains for Wall Street, shareholders, and corporate executives. These jobs can be brought home where they belong by taxing corporations according to where value is added to their product. If value is added to their goods and services in China, corporations would have a high tax rate. If value is added to their goods and services in the US, corporations would have a low tax rate. "
Can we do that while we are dependent upon the Chinese to buy our Treasuries and fund our out-of-control deficits??
No ... Wait....what about these guys.... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2931871>
Maybe if we stop the wars we might have a chance with the deficit control. Plus go after Medicare/Medicaid fraud which comes to many billions of $$ each yr.
... and wow, the article quotes Gerald Celente... now that guy is a heavyweight economic commentator if ever there was one... Don't get caught up in the pessimism folks, it's always horribly bad when it's time to buy. People are currently buying real estate but when they can borrow on it to invest in the markets and new cars and whatnot, we'll be rolling like the Grape Street Cripps with big wads of cash...