From Pravda:
http://english.pravda.ru/business/finance/10-09-2007/96909-us_economy-0

China may lead US economy to collapse dumping US dollar

The U.S. dollar is standing at the edge of a cliff, and most people don’t even know it.

Data released by the New York Federal Reserve shows that foreign central banks have been net sellers of U.S. treasuries over the past five weeks, with $48 billion having been sold since late July, and $32 billion in just the last two weeks.

The U.S. runs budget deficits each year. If foreigners stop buying treasuries—or worse, start selling them—the dollar could be in big trouble.

The reduction in treasuries “comes as a big surprise and it is definitely worrying,” said Hans Redeker, foreign exchange strategy chief at bnp Paribas, one of Europe’s biggest banks.

The Telegraph reported that, according to Redeker, the numbers demonstrate “that world central banks are in a hurry to get out of the U.S.”

The nation that analysts are watching especially closely at this stage is China. Whether or not Beijing is selling its dollars can’t be officially confirmed until November, when the Treasury releases its tic data. However, top Beijing officials have been signaling for at least two years that dollar sales are increasingly imminent.....more.....

the warming trend is on other planets in the solar system...thats a fact..the polar regions on Mars are melting also..just like the earth...the sun is in an accelerated sun spot cycle....affecting all the planets...
old tales from ancient cultures are full of stories talking of times when man had to retreat into caves...and it was so hot that sticking a branch out of the cave entrance would cause it to ignite....
Maybe those in the know have this in mind as they pollute without restraint while building underground facilities (like around moscow) to ride out the next solar storm...a rather dire view of things...but may have some truth to it...

http://mysite.verizon.net/mhieb/WVFossils/ice_ages.html

really doubt god wastes time with politics...Putin shouldnt be underestimated...madman?...
not hardly....and waiting in the wings of this show is China...holding a better hand than the
rest of the players..

evil exists.....

http://www.youtube.com/watch?v=7rfGEtALHYs

3 min & 59 sec

http://www.youtube.com/watch?v=MTN3s2iVKKI

great stuff


4 min 12 sec....

http://www.youtube.com/watch?v=dib2-HBsF08&mode=related&search=


for those that have never seen it....

Well this revelation is not hard to grasp...

*****************************************************************
Pol/Econ: Economy in Bigger Trouble than Reported

Monday, 10 September 2007 Written by Garrett Johnson

The big news from Friday spooked the markets.
A report released Friday by the Labour Department showed the country's payrolls shrank by 4,000 in August. It was the first decline in jobs since August 2003.
4,000 jobs isn't a lot...unless you were expecting +120,000 jobs like Wall Street was. But the real bad news was buried in the details.

You had to dig to find out that June's payroll numbers were revised from 132,000 to 69,000, and July's numbers were dropped from 92,000 to 68,000. But even that doesn't address the real trouble.

The August employment numbers looked better than they actually were for two reason:

#1) Nearly 600,000 people were simply dropped from the labor force. That's not unprecedented during a recession, but it is unprecedented when the economy is supposedly "strong" like the Federal Reserve and White House tells us it is.

If those people had not been dropped from the labor force then the unemployment rate would have spiked up.

#2) The BLS (Bureau of Labour Statistics) added 120,000 jobs through their Birth/Death Model. The Birth/Death Model is supposed to catch jobs that are created by the "birth" of businesses not surveyed in the payroll survey. The number of jobs included in this model are estimates based on past data.

In other words, the BLS tries to apply data to the present based on data from a year ago. The August Birth/Death Model added 11,000 financial jobs and 15,000 construction jobs.

Let's apply a little common sense here: does anyone really believe that 11,000 more financial jobs were created last month while the entire credit industry was seizing up? Does anyone really believe that the construction industry was adding more jobs while the real estate market was contracting?

link to rest and charts:

http://www.bitsofnews.com/content/view/6067/

couldnt agree with you more Philosopher...a few tariffs wouldnt hurt as a place to start..

what has always puzzled me is this...we beat the war drums and continue to talk
about a long war that may take years...but dont we get much of our military's spare
parts from overseas?....I dont think that is a good thing...

I feel for the younger generation today....like you said..what professions are there for
them to choose from anymore...even our service economy will end when no one can
afford to buy anything...

speak no evil?...dont like being called a liar I guess...

all you have to do is walk thru the grocery store these days...a small can of mushrooms
that cost 50 cents 6 mons ago is now $1.25 ....and everything else is going up...this
is the hidden tax that is the result of printing money from nothing...if we have more
radical hyperinflation...then people will wake up...course that will be the time for
a distraction...like another war or something...

American Economy - R.I.P.
By Paul Craig Roberts
9-11-7

The US economy continues its slow death before our eyes, but economists, policymakers, and most of the public are blind to the tottering fabled land of opportunity.

In August jobs in goods-producing industries declined by 64,000. The US economy lost 4,000 jobs overall. The private sector created a mere 24,000 jobs, all of which could be attributed to the 24,100 new jobs for waitresses and bartenders, and the government sector lost 28,000 jobs.

In the 21st century the US economy has ceased to create jobs in export industries and in industries that compete with imports. US job growth has been confined to domestic services, principally to food services and drinking places (waitresses and bartenders), private education and health services (ambulatory health care and hospital orderlies), and construction (which now has tanked). The lack of job growth in higher productivity, higher paid occupations associated with the American middle and upper middle classes will eventually kill the US consumer market.

The unemployment rate held steady, but that is because 340,000 Americans unable to find jobs dropped out of the labor force in August. The US measures unemployment only among the active work force, which includes those seeking jobs. Those who are discouraged and have given up are not counted as unemployed.

With goods producing industries in long term decline as more and more production of US firms is moved offshore, the engineering professions are in decline. Managerial jobs are primarily confined to retail trade and financial services.

Franchises and chains have curtailed opportunities for independent family businesses, and the US government's open borders policy denies unskilled jobs to the displaced members of the middle class.

When US companies offshore their production for US markets, the consequences for the US economy are highly detrimental. One consequence is that foreign labor is substituted for US labor, resulting in a shriveling of career opportunities and income growth in the US. Another is that US Gross Domestic Product is turned into imports. By turning US brand names into imports, offshoring has a double whammy on the US trade deficit. Simultaneously, imports rise by the amount of offshored production, and the supply of exportable manufactured goods declines by the same amount.

The US now has a trade deficit with every part of the world. In 2006 (the latest annual data), the US had a trade deficit totaling $838,271,000,000.

The US trade deficit with Europe was $142,538,000,000. With Canada the deficit was $75,085,000,000. With Latin America it was $112,579,000,000 (of which $67,303,000,000 was with Mexico). The deficit with Asia and Pacific was $409,765,000,000 (of which $233,087,000,000 was with China and $90,966,000,000 was with Japan). With the Middle East the deficit was $36,112,000,000, and with Africa the US trade deficit was $62,192,000,000.

Public worry for three decades about the US oil deficit has created a false impression among Americans that a self-sufficient America is impaired only by dependence on Middle East oil. The fact of the matter is that the total US deficit with OPEC, an organization that includes as many countries outside the Middle East as within it, is $106,260,000,000, or about one-eighth of the annual US trade deficit.

Moreover, the US gets most of its oil from outside the Middle East, and the US trade deficit reflects this fact. The US deficit with Nigeria, Mexico, and Venezuela is 3.3 times larger than the US trade deficit with the Middle East despite the fact that the US sells more to Venezuela and 18 times more to Mexico than it does to Saudi Arabia.

What is striking about US dependency on imports is that it is practically across the board. Americans are dependent on imports of foreign foods, feeds, and beverages in the amount of $8,975,000,000.

Americans are dependent on imports of foreign Industrial supplies and materials in the amount of $326,459,000,000--more than three times US dependency on OPEC.

Americans can no longer provide their own transportation. They are dependent on imports of automotive vehicles, parts, and engines in the amount of $149,499,000,000, or 1.5 times greater than the US dependency on OPEC.

In addition to the automobile dependency, Americans are 3.4 times more dependent on imports of manufactured consumer durable and nondurable goods than they are on OPEC. Americans no longer can produce their own clothes, shoes, or household appliances and have a trade deficit in consumer manufactured goods in the amount of $336,118,000,000.

The US "superpower" even has a deficit in capital goods, including machinery, electric generating machinery, machine tools, computers, and telecommunications equipment.

What does it mean that the US has a $800 billion trade deficit?

It means that Americans are consuming $800 billion more than they are producing.

How do Americans pay for it?

They pay for it by giving up ownership of existing assets--stocks, bonds, companies, real estate, commodities. America used to be a creditor nation. Now America is a debtor nation. Foreigners own $2.5 trillion more of American assets than Americans own of foreign assets. When foreigners acquire ownership of US assets, they also acquire ownership of the future income streams that the assets produce. More income shifts away from Americans.

How long can Americans consume more than they can produce?

American over-consumption can continue for as long as Americans can find ways to go deeper in personal debt in order to finance their consumption and for as long as the US dollar can remain the world reserve currency.

The 21st century has brought Americans (with the exception of CEOs, hedge fund managers and investment bankers) no growth in real median household income. Americans have increased their consumption by dropping their saving rate to the depression level of 1933 when there was massive unemployment and by spending their home equity and running up credit card bills. The ability of a population, severely impacted by the loss of good jobs to foreigners as a result of offshoring and H-1B work visas and by the bursting of the housing bubble, to continue to accumulate more personal debt is limited to say the least.

Foreigners accept US dollars in exchange for their real goods and services, because dollars can be used to settle every country's international accounts. By running a trade deficit, the US insures the financing of its government budget deficit as the surplus dollars in foreign hands are invested in US Treasuries and other dollar-denominated assets.

The ability of the US dollar to retain its reserve currency status is eroding due to the continuous increases in US budget and trade deficits. Today the world is literally flooded with dollars. In attempts to reduce the rate at which they are accumulating dollars, foreign governments and investors are diversifying into other traded currencies. As a result, the dollar prices of the Euro, UK pound, Canadian dollar, Thai baht, and other currencies have been bid up. In the 21st century, the US dollar has declined about 33 percent against other currencies. The US dollar remains the reserve currency primarily due to habit and the lack of a clear alternative.

The data used in this article is freely available. It can be found at two official US government sites:
http://www.bea.gov/international/bp_web/simple.cfm?
anon=71&table_id=20&area_id=3 and <http://www.bls.gov/news.release/empsit.t14.htm>http://www.bls.gov/news.release/empsit.t14.htm

The jobs data and the absence of growth in real income for most of the population are inconsistent with reports of US GDP and productivity growth. Economists take for granted that the work force is paid in keeping with its productivity. A rise in productivity thus translates into a rise in real incomes of workers. Yet, we have had years of reported strong productivity growth but stagnant or declining household incomes. And somehow the GDP is rising, but not the incomes of the work force.

Something is wrong here. Either the data indicating productivity and GDP growth are wrong or Karl Marx was right that capitalism works to concentrate income in the hands of the few capitalists. A case can be made for both explanations.

Recently an economist, Susan Houseman, discovered that the reliability of some US economics statistics has been impaired by offshoring. Houseman found that cost reductions achieved by US firms shifting production offshore are being miscounted as GDP growth in the US and that productivity gains achieved by US firms when they move design, research, and development offshore are showing up as increases in US productivity. Obviously, production and productivity that occur abroad are not part of the US domestic economy.

Houseman's discovery rated a Business Week cover story last June 18, but her important discovery seems already to have gone down the memory hole. The economics profession has over-committed itself to the "benefits" of offshoring, globalism, and the non-existent "New Economy." Houseman's discovery is too much of a threat to economists' human capital, corporate research grants, and free market ideology.

The media has likewise let the story go, because in the 1990s the Clinton administration and Congress overturned US policy in favor of a diverse and independent media and permitted a few mega-corporations to concentrate in their hands the ownership of the US media, which reports in keeping with corporate and government interests.

The case for Marx is that offshoring has boosted corporate earnings by lowering labor costs, thereby concentrating income growth in the hands of the owners and managers of capital. According to Forbes magazine, the top 20 earners among private equity and hedge fund managers are earning average yearly compensation of $657,500,000, with four actually earning more than $1 billion annually. The otherwise excessive $36,400,000 average annual pay of the 20 top earners among CEOs of publicly-held companies looks paltry by comparison. The careers and financial prospects of many Americans were destroyed to achieve these lofty earnings for the few.

Hubris prevents realization that Americans are losing their economic future along with their civil liberties and are on the verge of enserfment.

Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.

________
I am like many in the US right now..trying to recover from an unexpected job loss one year ago...my income has been cut in half....and after literally 100's of resumes and dozens of interviews....still have not found my way in this great Bush economy....Many of you probably "buy" the company line that unemployment is 4% like they say on the news...for a real barometer talk to the local bartender...like Brian in a small town near here in Wisconsin...he knows that the unemployment rate is more than 12 - 15 % ....because many people are falling out of the statistics...take off the blinders folks...look at the reality ....

hillfolk...thanks for the sept 11th date info...nothing is coincidence...

of course I feel very sad about the victims of 911 in the buildings, planes, and all the rescue workers who are dying and will die soon because of the exotic materials pulverized into a toxic death cloud...but I feel nothing but contempt for our leadership that has used this event to wreak havoc on innocent people sleeping in their beds in other countries...

support our troops doing their duty...support them by demanding they come home now...
we are not safer than we were in 2001...hate to break the news to everyone...

I may be wrong...but it ends with Halle Berry...the only black actress they showed?....

http://glumbert.com/wii/view.php?name=womenfilm

http://www.cnn.com/2007/WORLD/americas/09/10/mexico.explosion/index.html


MEXICO CITY, Mexico (CNN) -- A truck carrying more than 25 tons of dynamite exploded Monday in northern Mexico, killing at least 23 people and injuring more than 140, a government spokesman said.

Of the 140 injured, 30 suffered critical wounds and five were listed in extremely critical condition, said David Aguisn, spokesman for Humberto Moreira, the governor of the state of Coahuila.

Notimax, Mexico's official news agency, reported at least 30 people were killed in the blast at a factory near Monclova -- about 125 miles (200 kilometers) northwest of Monterrey.

Don't Miss
CNN/Money: Pemex reports pipeline explosion
Three Mexican reporters were among those killed, according to Notimax.



Video footage showed the burned-out, mangled shell of the truck and nearby cars damaged by the blast.

Aguisn said that there is no indication of foul play. The cause of the explosion is under investigation

and so it begins folks......open borders......limited inspections if any...

kill me!! kill me!!!

what is pagan?...my beliefs encompass wiccan, pagan, astrology, tarot, native american , mother philosophy....not sure where I can be pigeonholed...

a lot of...oops

takes a ot of balls to post something like that...

married 17 yrs...the last 7 "for the kids"....never a good idea...
she was taurus...I'm aquarian....bad mix

I always try to put up pictures that show the real me....

maybe I should apologize..