Why the US will remain dominant over the rest

I can give you a whole list of recommended reading, books that will once and for all put paid to you "america is the best thing since sliced bread" stance. Books written, amongst others by a nation you are a fan of, the Japanese people. The thing is Peter, you've been telling me for the last 6 years, on the various forums and opportunities that this subject has come up, that you're planning on going to America. Well, what I'd like to know is what is stopping you from going? This country is buggered beyond hope, and we're firmly in the running to become Zim 2.0 so why do you remain here, when, as you put it from the beginning, you're pratically "ready" to go to America.

Particularly in the industry I work in, America is falling further and further behind, the Chinese and Japanese, and even Koreans and Indians are killing them slowly. The American automobile industry is a shadow of it's former self thanks to the Far East. Every year they train fewer and fewer engineers, as America, like the UK wants to be a manager and bean counter paradise.
 
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Turiko said:
I can give you a whole list of recommended reading, books that will once and for all put paid to you "america is the best thing since sliced bread" stance. Books written, amongst others by a nation you are a fan of, the Japanese people.

Particularly in the industry I work in, America is falling further and further behind, the Chinese and Japanese, and even Koreans and Indians are killing them slowly. The American automobile industry is a shadow of it's former self thanks to the Far East. Every year they train fewer and fewer engineers, as America, like the UK wants to be a manager and bean counter paradise.
Click to expand...

I suggest you read that report as it does not go into specifics but does cite one example, or maybe it was a different report but by the same team,
where they mention one thing, all the Far Eastern developments did -
namely move of consumer electronics and car industries
was allow alternative tech development in the US - eg computer
industry.

BTW you do know that Japan will soon be a nation of the elderly
and the same things you've said about the US are happening there
(training fewer engineers, fewer ppl going to univ etc).
Japanese and Korean economies are far more precarious than
the US.

China will probably go into a meltdown too. Read the piece, its LONG.

Think what you will, this report and others make most logical sense.

If you read this report (written 3 years back) you'll that its spot on, so far.
 
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Having an unprecedentedly large demographic bulge in that age bracket enjoying unprecedentedly high per-capita incomes injects an unprecedentedly large amount of capital into the economy as their savings are converted into investments.

That abundance of capital radically reduces borrowing costs, allowing firms to successfully finance the complete replacement of their industrial plant in just a few short years.
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This is actually the reason for the current crash - the "abundance of capital" is not real, it's borrowed money.

The one thing that drives the US is greed (and because of their dominance, this is what the rest of the world feels is the norm).
 
BigAl-sa said:
This is actually the reason for the current crash - the "abundance of capital" is not real, it's borrowed money.

The one thing that drives the US is greed (and because of their dominance, this is what the rest of the world feels is the norm).
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+1

That is putting it in a nutshell. Corporate greed is not a local invention. It came from America and the rest of the world thinks it's normal, even in SA.

And as an economist put it this morning on 5FM, they were giving loans to people who should never have qualified for it under any circumstances.
 
BigAl-sa said:
This is actually the reason for the current crash - the "abundance of capital" is not real, it's borrowed money.

The one thing that drives the US is greed (and because of their dominance, this is what the rest of the world feels is the norm).
Click to expand...

You've read the bit about the established middle class with
repaid mortgages and no debt?

Oh and how do you think banks lend money elsewhere?
 
Turiko said:
+1

That is putting it in a nutshell. Corporate greed is not a local invention. It came from America and the rest of the world thinks it's normal, even in SA.

And as an economist put it this morning on 5FM, they were giving loans to people who should never have qualified for it under any circumstances.
Click to expand...

Which is not something which can take down a country but is
merely a crisis in the financial sector. Oh and if US goes down
a bit temporarily, you'll see 100x worse in Japan and even
worse here. We'll see who comes out on top and you'll
eat your words.
 
I cannot claim to have read the whole thing (I've got work to do) but the fact that peak oil is not even mentioned once and that the USA now depends on at least 14 million bpd of IMPORTED crude oil per day makes all the rest pretty irrelevant. That figure is bigger than the total oil consumption of China, Japan and Germany COMBINED. Almost every aspect of international politics during the next decade will be driven by the world's decreasing energy reserves and the USA is by far the most exposed country on earth in terms of energy stability.
 
I don't know why you keep insisting that this crisis is confined to the financial sector. There is no such thing. Consumer spending and confidence in the US, which is always the key driver of the economy, is at record lows. The ripple effects are enormous. The economy doesn't operate in discreet silos.
 
StrongTurd said:
I cannot claim to have read the whole thing (I've got work to do) but the fact that peak oil is not even mentioned once and that the USA now depends on at least 14 million bpd of IMPORTED crude oil per day makes all the rest pretty irrelevant. That figure is bigger than the total oil consumption of China, Japan and Germany COMBINED. Almost every aspect of international politics during the next decade will be driven by the world's decreasing energy reserves and the USA is by far the most exposed country on earth in terms of energy stability.
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The US can produce enough oil for itself. Japan, Germany and China have no oil.

German and Japanese economies are doing worse than US atm.
 
PeterCH said:
You've read the bit about the established middle class with repaid mortgages and no debt?
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They were lucky, they scored with the sub-prime rates and paid off their bonds before the brown stuff hit the fan. You can't lend money out at a lower rate than you borrowed it at.
 
Turiko said:
+1

That is putting it in a nutshell. Corporate greed is not a local invention. It came from America and the rest of the world thinks it's normal, even in SA.
Click to expand...

Bull****
 
All the greatest empires in history came to an end, USA will be no different. Just my opinion.
 
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