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http://www.businessinsider.com/11-long-ter...rupt-america-11
Economics 11 Long Term Trends Destroying The US Economy
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  Oct 7 2010, 03:35 AM, updated 16y ago
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#1
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Senior Member
2,850 posts Joined: Aug 2006 From: Stellar Nursery 
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http://www.businessinsider.com/11-long-ter...rupt-america-11 |
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Oct 7 2010, 08:23 AM
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#2
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Elite
11,400 posts Joined: Jan 2003
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#1: it wouldn't be the first country to move from industry to service
#4: there is a strong under current of libertarianism in the US. They rank only #81. http://www.nationmaster.com/graph/eco_exp_...-expense-of-gdp #7: in third world countries, when you mention "corruption", people think "bribes". Wall street is obviously more sophisticated. |
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Oct 7 2010, 10:03 AM
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#3
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Junior Member
247 posts Joined: Oct 2008
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The US is still a wasteful nation. I mean come on, even when they are broke and struggling to make ends meet they do not downgrade their living, holding on their spendthrift habits until the inevitable comes and they have to fall off a cliff.
And yes. wall street... sigh... day trading... sigh sigh.... |
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 Oct 7 2010, 10:35 AM
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#4
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Senior Member
2,850 posts Joined: Aug 2006 From: Stellar Nursery
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QUOTE(Karenalvin @ Oct 7 2010, 10:03 AM) The US is still a wasteful nation. I mean come on, even when they are broke and struggling to make ends meet they do not downgrade their living, holding on their spendthrift habits until the inevitable comes and they have to fall off a cliff. Day trading?And yes. wall street... sigh... day trading... sigh sigh....  The Big 5 now use automated high frequency sniping, QUOTE Wall Street: Flash Crash Caused By Computer Algorithm On Dow Jones The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released a 104 page report on Friday afternoon with the results of their investigation of the “Flash Crash” in May, 2010. The crash was found to have been caused by an automated “Sell Algorithm” used by a trading firm. The firm was not officially named in the report but is speculated to be Waddell & Reed, a financial planning firm located in Kansas. What Is A “Flash Crash” The Flash Crash of May 6, 2010 occurred when the Dow Jones Industrial Average dropped by the biggest one-day point drop in history, plunging over 600 points. The total for the day was 998.5 points dropped. Ten minutes later, the market regained most of the 600 points. The cause was speculated to be caused by human error, high frequency traders, large directional bets, change in market structure or technical glitches. Finally, on Friday, October 1, 2010, the official report was released explaining that the crash was caused by the use of an automated “Sell Algorithm” selling $4.1 billion of stock index futures by a single firm hedging against the market. What Is A “Sell Algorithm” A Sell Algorithm is a computer program used for trading contracts. In the case of the crash on May 6, 75,000 E-mini contracts were sold in 20 minutes. This same type of transaction executed earlier in the year took over five hours to complete. The speed of the transaction caused high-frequency traders (HFT) to sell their contracts. Long-term buyers would not buy because of the selloff. HFTs began quickly buying and then reselling the contracts which caused the program to sell more quickly and flood the market. http://www.usfinancialpost.com/wall-street...ow-jones/85837/ |
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Oct 7 2010, 10:03 PM
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#5
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Senior Member
8,275 posts Joined: May 2006
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to be fair some of them are repeats, the wall street problem has been there in history. look up this very very popular book, where are the customers yatchs?
but some of them are concerning, but its a burst thing the economy works in weird ways. the recommended book will show you a bit on how, also another good book is lewis on liars poker as far as teh debt goes, this depends us while high debt can use foreign instruments to bring it back. it can "export" its debt indirectly due to the scope of america and example will be america sets a tax on businesses, computers for example. the companies can siphon this tax to its products and if its a wide market spam the market with tax. thus computers imported from america by malaysia will be expensive due to us paying american debt now what makes this problematic is the drop in american dollar, if the drop is significant then debt is harder to be exported. in sense if government tax a 10% rate and companies increase product price by 5% so a 100 buck pc now is 105, but if forex falls by 20% then the price of pc by its natural value after export will be down -15% but i do think it will recover, america has teh tendency to overhype depressions, its bad true. but its not as terrible as people make it to be |
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Oct 10 2010, 10:31 PM
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#6
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Senior Member
5,270 posts Joined: Jun 2008 
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Thanks for this topic cuz it was very interesting read. It kept me wondering, if the govt and all its service is so screwed up, I worry for our country..
the question now is... "ARE WE HEADING TO THE RIGHT DIRECTION?" |
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Oct 14 2010, 01:03 PM
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#7
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Junior Member
140 posts Joined: Oct 2010
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Their debts is enormous, yet they still sustain because of the usage of US dollar as trading currency. Once this is replaced with Euro, we will eventually see the downfall of US economy.
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Oct 14 2010, 01:49 PM
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#8
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Senior Member
5,270 posts Joined: Jun 2008
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But the economy of USA effects the world as they have shares in most industries. Look at the recession and a drop of the US economy a year back. The whole world was effected.
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Oct 14 2010, 01:53 PM
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#9
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Senior Member
1,616 posts Joined: Aug 2010
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QUOTE(Potatojii @ Oct 14 2010, 01:03 PM) Their debts is enormous, yet they still sustain because of the usage of US dollar as trading currency. Once this is replaced with Euro, we will eventually see the downfall of US economy. EURO is even less dependable than USD  Take away 2-3 good countries like Germany from the euro zone and... |
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Oct 14 2010, 02:11 PM
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Senior Member
8,275 posts Joined: May 2006
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QUOTE(Potatojii @ Oct 14 2010, 01:03 PM) Their debts is enormous, yet they still sustain because of the usage of US dollar as trading currency. Once this is replaced with Euro, we will eventually see the downfall of US economy. that is if it gets replaced by euros,by far the world runs on american good and services, computers = american, fast food= american, soft drinks = american i dont see america toppling anytime soon. |
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Oct 20 2010, 01:53 AM
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Senior Member
2,850 posts Joined: Aug 2006 From: Stellar Nursery
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Production Gap:
» Click to show Spoiler - click again to hide... « The BIG PICTURE is that traditional economics based on GDP and big finance is one big ponzi scheme, if people don't change the system on a fundamental level into something more sustainable, a collapse is actually desired so the stupid people can finally think hard about alternative economics Growth for growth's sake is like a cancer. This post has been edited by Polaris: Oct 20 2010, 01:57 AM |
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Nov 16 2010, 10:55 PM
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149 posts Joined: Jan 2009 
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U.S wont screw up as oil prices are trade with US $. And most important U.S = Military. Whoever tries to replace U.S dollar have to face with the big guns.
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Nov 19 2010, 11:47 PM
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Junior Member
57 posts Joined: May 2010
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QUOTE(Potatojii @ Oct 14 2010, 01:03 PM) Their debts is enormous, yet they still sustain because of the usage of US dollar as trading currency. Once this is replaced with Euro, we will eventually see the downfall of US economy. Euro is definitely a no-no for substituting US Dollar. With the current market trend, most people would say that it will be China Renminbi ¥. However, the US that we know [or perhaps we knew?], will definitely not going to let this happen. |
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