Recently, I was asked my opinion of the economy and I’ll repeat my answer here. I think that the odds are about 5:3 that we’ll see a global recession from which the United State is, fortunately, somewhat insulated. The way in which the global recession will have the greatest effect on us is that the U. S. is going to start looking very, very good to a lot of people willing to move for work.
All of this is the long-overdue consequence of trying to integrate China into the global economy. China is just too big and too authoritarian to integrate gracefully. China has extended credit to the hilt and invested all of that borrowing in factories. There is presently enough steelmaking, cement-making, auto production, etc. etc. capacity in China to satisfy the whole world’s prospective demand for decades. There’s no really good way to dig ourselves out of this hole.
So not a recession, just the long slow rot that’s been going on.
Oh, I wouldn’t buy anything from Carrier for the next few years. The workers, being told that they would lose their jobs to Mexicans, were openly talking about wrecking the product.
I seem to recall hearing something about a giant sucking sound several decades back….
Yeah, but at least we are manufacturing in Cuba again!!
I hope Dave is correct, but with manufacturing already squarely in recession, and a GDP as traditionally measured under zero, that seems awfully optimistic.
… GDP as traditionally measured under zero….
Seriously? TRADITIONALLY measured? Imagine how badly off we’d be if they TRADITIONALLY measured unemployment. Tradition is out. Bullshit to make the guys running the show look good is in.
Down boy. It’s just the facts, ice. It’s amazing it’s not better known. Wait, that would require an honest press not interested in Obama ball shining.
Never mind.
Speaking of odds…….
Who wants some action on whether Hillary is more or less adorable when exhorting people to squeal like pigs vs bark like dogs? Squeal boy!