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Vet67to82 (< 20)

The Global Meltdown, Part II: Dubai



November 30, 2009 – Comments (4) | RELATED TICKERS: GLD , ABX , KGC

I'm sure this period in history will be analysed, disected, reassembled, disected, and re-analysed for centuries to come. Sadly, it comes down to greed, as well as a lack of honor, integrity, morals, ethics, and scrupples ... and poor prior planning ......

Seven BILLION people on this planet ... and none of the other govt's did any better, prior to, or during, the global meltdown for their citizens. It is possible the actions taken by the USA will see the USA out of this Recession at the forefront of the pack ... but it's a global economy now, so the other countries, that have done little to nothing, hoping to "ride the coattails" of the countries that did take action ... will be a drag on the global economy for a decade, or more to come.

The worst part is, the past and current, exportation of jobs, and TECHNOLOGY, from the USA to other countries ... the USA needed to create jobs here ... instead ... the gov't is saving the financial system while people are losing their jobs, and their homes ... and can't pay their bills. To me, creating and saving jobs, was the best path to a recovery AND SELF SUFFICIENCY. Seems that employed people will, and would, be able to feed their families, pay their bills ... and constructively contribute to society ... rather than be a drag on it ... thru no fault of their own.

Other countries have an unfair advantage over USA employers ... Our gov't has engineered a slew of taxes that other countries don't have ... China, has NO retirement system. No Social Security, No FUTA ... hence overseas companies can earn more per dollar ... than manufacturing the same product here. The USA needs to look at all the taxes, determine what percentage of producing any item(s) those taxes impact USA workers vs foreign workers, and either negotiate with other countries to start their OWN programs and taxes, OR institute a FAIR competition tax on imports until other countries do so ...

As to Dubai: the biggest exposure appears to be the EU ... somewhere between $80 - 85 billion, of which Dubai is asking for a delay on about 30 billion .... NOT a write off ... a delay! Hummmmm, given the SIZE of the daily markets, though it's NOT a small amount , it IS a manageable amount. that's certainly, "do-able"!

Keeping your focus on what's "manageable", is going to help your investing when the "big boys" reach the same conclusion.

Sorryl, I'll get off my "soap box" now, thanks for the response .. . and for listening to my " 2c" ..

4 Comments – Post Your Own

#1) On November 30, 2009 at 7:25 PM, mymini2 (< 20) wrote:

Thanks for the info. Creation of jobs is something I think of each day. My wife and I have been in Information Technology our complete careers. Both of our positions have been eliminated after we taught our replacements in India ( I have done it 2 times). I am now living/working in a different state than my family for 1/2 my previous wage and my wife is back in school learning to be a nurse. The government is paying for my wife's education as well as unemployment. I have been approved for trade adjustment assistance (although I am not currently utilizing). If I decide upon using it would amount to 2+ years of unemployment assistance + education assistance.  Another words, do not get me started with the idea of creation of jobs in the U.S. 

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#2) On November 30, 2009 at 7:46 PM, Vet67to82 (< 20) wrote:

I am sorry to hear of the plight of your family.  I certainly hope it all works out ... and that you can bring your family back together!

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#3) On December 07, 2009 at 7:01 PM, SnapDave (50.81) wrote:

Nursing, there's a job that can't be outsourced - although we're importing nurses esp. from Philipines. 

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#4) On December 07, 2009 at 7:17 PM, SnapDave (50.81) wrote:


Tariffs are one of the biggest mistakes of the great depression.  Governments are trying desperately to avoid it this time.  It may happen anyway. 

It might be better to think of ways gov’t can get the hell out of the way of small businesses, which are needed to create jobs.  Politicians of both parties are paid to write laws favoring big companies.  Democrat dogma, as an unintended consequence of its nature, despite anti-big business rhetoric favors big companies at the expense of small ones.  Republicans know better but are simply traitors.  Report this comment

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