Family and the American Economy

Even with lower wages, things are not rosy because we are losing industry after industry to outsourcing while exporters are slapped with VAT like taxes by foreign governments under WTO. This is a global economic war where it is US vs. Them.

On top of that, no one understands the financial market due to its non-linearity and complexity, yet decisions are made under fog like conditions - according to the book "The world is a curved". It is more like USA is in a mess.

"FHA & FDIC both are now with reserves less than the law allows, so will either issue bonds or ask Congress for bail out. In FDIC's case asking stronger banks to pay next years fees is also and option, a FDIC is supposed to be funded by the banks, but with ~140 to close in 2009 vs only 3 in 2007, FDIC expenses have greatly out paced its income form the banks.

As if that were not enough, the job losses have cut the payroll tax income to Social Security and older unemployed are opting to start collecting ASAP (age 62) even if that will get lower payments for the rest of their lives. Some Baby boomers, fearful that they will be fired (they tend to be replaced with much lower wage - fresh out of college kids who have trouble finding any job and work for less than half what the end of carrier emplyee was collecting) are also taking "early out" retirement offers instead of getting fired.

This is also straining SS as their replacments contribute less into SS and the early out retire group is now collecting from SS.

Net effect is that contrary to expectations SS will pay out more than it takes in for at least next two years (or "for ever" if the recovery is slower than hoped).

SUMMARY: US will borrow not only for the stimulus (Joe American not doing his 72% of the economy) but also to fund FDIC, FHA and Social Security. Sure hope US credit with China remains good or else there will be an even bigger flood of printing press dollars."

Family value number one is that a family has a dad, who has a job from which he regularly brings home a decent pay check with which a family can be supported and developed. Chances are high such a family also stays together.
How come the advocates of ‘family values’ never mention this one? They rather use their pretense to push their bigoted agenda against gays and abortion and welfare and the 'liberals' in general. They don't care about education and health care unless it is set up as a money making scheme for the fat cats. Such neglect and misguidance has agonizing and eventually fatal consequences for an entire nation. A country where prisons, a result of neglected families and poor education, are a virtual ‘growth’ industry is already reaping the ‘benefits’ of this abandonment and faces eventual disastrous consequences.
Again, family value number one: a dad, a job, a paycheck.