Thanks to the corrupt government of the Bush Junta and the insanely greedy private concern of the Federal Reseve America is fast approaching a full-scale economic crisis of epic proportions. A good warning here for you in that story any move against Iran now will send the US economy into a tail-spin.
...and who are the Swedes? Oh those little people who's GDP is half the state of New York's? Common folks. The Swedes shouldn't even be accounted for in economic concerns, the only influencial thing they have is their little Saab industry. By the time the Americas create a single economy (A.U) they will totally dominate the world. Anyway the U.S economy has been through a lot and I think it will survive another lapse if necessary. Just a thought.
I too doubt the Sweden’s Central Bank will break the dollar, but troublemaker* Lawrence Summers, once US Secretary of Treasury and now the retiring president of Harvard University might. He noted that global economy is backwards in his farewell address. I.e. Central banks of China and other developing and undeveloped countries with two or three times the US growth rate are investing their reserves in US Treasury, despite the zero or slightly negative returns in inflation-adjusted dollars. He said that if they had bought stock and industrial bonds etc., they would have done much better. While admitting that central banks need to keep some of their reserves in very stable currencies, he said the "undeveloped and developing" nations could deploy between 2 and 3 trillion dollars in more volatile, but profitable applications. If they would do this, they would conservatively have about $100billion REAL income, every year. That is more than the total of all the foreign aid they receive from all the rich countries of the world. Hope no one was listening - I still have no way to get my social security income out of US. ---------------------------------- * He is the guy who about a year ago expressed the very non PC opinion that women were under represented in science and math because "evolutionary adaptation" had made them less capable in these areas and more so in others, such as childcare etc. Don't you just hate these people who tell the truth? Please Register or Log in to view the hidden image!
What is GDP of NY state? NYC is like a gigantic leach on the face of the Earth, producing nothing, consuming everything. Old plants are transformed in sleazy, dirty warehouses dealing in goods of very questionable origin. I keep on wondering what in the hell 17 millions people are doing there? Maybe NY state has impressive paper GDP (on the right of a global leach), however in the common sense economy that GDP would've been close to nothing.
Not able to agree with you. Cornell's Med school is there, City College, several good high-schools, Columbia Un. etc. but nature has a way of self correcting, or stablizing backs to the norms. In a 100 years or so NYC will probably be below sea level, so just be patient. Please Register or Log in to view the hidden image!
