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Originally Posted by Minte
It's a simple fact of economics Paul, you can't go on forever spending more than you make.
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Absolutely true. People on this board, maybe in this thread, who bought big houses with mortgages they can't afford are now in the crapper.
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Government spending has been out of control for a decade. Along with out of control spending we have out of control waste. Everything that the federal government does it wastes money on. And not small amounts of it.
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This is true in so many countries, the waste was supported by borrowing to make everything look rosy. To even fund some of the big houses people bought. The wasted money wasn't really wasted, most of it went into the pockets of Americans to fund the whole merry go round. Cutting that waste will take it out of the system.
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As far as what to do with all that money...Have you been to the US lately. The bridges,hiways,sewers,dams, fresh water systems are all in major need of repair and replacement.
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Not in the last 5 years. Here we agree, shift the money to building the infrastructure will create jobs to replace those lost.
Adn you still haven't created any wealth.
Companies like yours are the future, how would you fair if the US Government hadn't of given you the contract? Is your order book so full you could of easily got another contract from overseas?
Then why is your order book so full and you aren't able to gear up? Lack of banks lending you money, lack of finding highly skilled personal you need or what?
The future lies in more companies creating goods that sell overseas. America no longer can rely on the captive markets.
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Growing them at a blistering pace of 22.7 per cent, India added another 23,000 more millionaires in 2007 to its 2006 tally of 100,000 millionaires measured in dollars, according to an annual Merrill Lynch Cap Gemini report that weighs such financial information for its wealth and asset management purposes.
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http://en.wikipedia.org/wiki/List_of..._10_.282011.29
http://en.wikipedia.org/wiki/List_of...hones_in_us e
The West has to wake up and realise they have competition and if they can't compete with them. The West and it's citizens have to live on less at a lower standard of living than they were used to.
Because as Minte put it so well. "It's a simple fact of economics Paul, you can't go on forever spending more than you make." Which is what got us in this mess. And it's not the Governments who only over spent.