OT: in the hole

Jun 17, 2006 22 Replies

Some hard data on the current account balance of payments trade deficit. The data is from the US census bureau.



Note the following: (1) The US went into the red on imports v exports in 1971 and by



1977 had wiped out the accumulated surplus. The nation has never recovered their manufacturing edge. This is when the first oil shock occurred.

(2) The cumulative trade deficit 1960 through 2005 is 6 trillion



- 90 billion - 615 million dollars. Assuming 290 million population of the USA this is slightly more than 21,000$US for every man, woman and child.



(3) We are currently importing slightly more than 2 billion dollars *EVERY DAY* than we export including the weekend.


Data is in current year (not adjusted for inflation) dollars. net cummulative BOP 1960 => 2005 Year CY mil$ BOP millions $ - = outflow



1960 4,892 4,892
1961 5,571 10,463
1962 4,521 14,984
1963 5,224 20,208
1964 6,801 27,009
1965 4,951 31,960
1966 3,817 35,777
1967 3,800 39,577
1968 635 40,212
1969 607 40,819
1970 2,603 43,422
1971 -2,260 41,162
1972 -6,416 34,746
1973 911 35,657
1974 -5,505 30,152
1975 8,903 39,055
1976 -9,483 29,572
1977 -31,091 -1,519
1978 -33,927 -35,446
1979 -27,568 -63,014
1980 -25,500 -88,514
1981 -28,023 -116,537
1982 -36,485 -153,022
1983 -67,102 -220,124
1984 -112,492 -332,616
1985 -122,173 -454,789
1986 -145,081 -599,870
1987 -159,557 -759,427
1988 -126,959 -886,386
1989 -117,749 -1,004,135
1990 -111,037 -1,115,172
1991 -76,937 -1,192,109
1992 -96,897 -1,289,006
1993 -132,451 -1,421,457
1994 -165,831 -1,587,288
1995 -174,170 -1,761,458
1996 -191,000 -1,952,458
1997 -198,104 -2,150,562
1998 -246,687 -2,397,249
1999 -346,015 -2,743,264
2000 -452,414 -3,195,678
2001 -427,188 -3,622,866
2002 -482,297 -4,105,163
2003 -547,302 -4,652,465
2004 -655,410 -5,307,875
2005 -782,740 -6,090,615


Unka George (George McDuffee)



There is something to be said for government by a great aristocracy which has furnished leaders to the nation in peace and war for generations; even a democrat like myself must admit this. But there is absolutely nothing to be said for government by a plutocracy, for government by men very powerful in certain lines and gifted with the "money touch," but with ideals which in their essence are merely those of so many glorified pawnbrokers.



Theodore Roosevelt (1858-1919), U.S. Republican (later Progressive) politician, president. Letter, 15 Nov. 1913.


BORING!!! Here, I thought you were going to brag about your golf round today.

And here I thought you were going to describe your date last night . . . .

Today: par 4 downhill 366 yds had 65 yds from the middle, guess what?

SHANK !!! ^&%%*((^^$% chipped on and 3 putted nice eh?

LOL

Daveb

Ah, now we see the problem. Americans are too dumb to care about the current account deficit. They never will until the s*it hits the fan. If any other country ran the kind of deficits we have the IMF and the World Bank would put them on an austerity program and make them take drastic steps to correct the problem like they did in the Asian crisis. I guess it helps to put Americans like Paul Wolfiwitz in the top spots in those organizations. That way we get to keep going deeper into debt and guarantees we will have an eventual disaster. What a way to run a country.

Hawke

Not in my case. I fully understand the problem but am simply powerless to do anything about it. I concern myself with matters I have control over. It's called 'effective use of my energies'.

Now back to my hobbies.

Ah, now we see the problem. Hawke is such a duffer he doesn't want to be reminded of his 40+ handicap and his lack of balls.

I realize you said "OT" but jeez!!! Randy

Thanks for that, Unk. I keep putting numbers like that in front of people who *should* be able to grasp their severity, Far, far too often the response boils down to "If things were really that bad, our Leaders would be doing something about it."

When I then state that our so-called leaders are actively complicit in the situation I am regarded as a fire-breathing ... .

Any suggestions for methods to wake people up would be welcome. Making it more difficult, the methods need to work on people wearing blinders of various colors -- red, blue, rose. Those with eyes (and minds) open already 'get it'.

F. George McDuffee wrote:

Bush's Fault!!!!!!!!!!!!!!!!!!!!!!

Gunner

"If thy pride is sorely vexed when others disparage your offering, be as lamb's wool is to cold rain and the Gore-tex of Odin's raiment is to gullshit in the gale, for thy angst shall vex them not at all. Yea, they shall scorn thee all the more. Rejoice in sharing what you have to share without expectation of adoration, knowing that sharing your treasure does not diminish your treasure but enriches it."

- Onni 1:33

====================== And thank you for the positive feedback.

The relationship to metalworking for both the professional [AMC] and recreational [AMC] metalworker is that unless these trends are corrected, there won't be any [metalworking] except for a few scattered blackmarket repair shops.

For the most part, our "leaders" consider themselves "citizens of the world," and are from such a different socio-economic class than the vast majority of Americans they don't see any problem (i.e. "let them eat cake!"). And then there are the Benedict Arnolds acting for personal gain or from ideology....

In all likely hood the best that can be done is to alert a few of our fellow citizens to "get out of the way" of the on-coming train.

A few observations from people far smarter than I about this situation:

** There is nothing new in the world except the history you do not know. Harry S. Truman (1884-1972), U.S. Democratic politician, president. Quoted in: William Hillman, Mr. President, pt. 2, ch. 1 (1952).

** A country losing touch with its own history is like an old man losing his glasses, a distressing sight, at once vulerable, unsure, and easily disoriented. George Walden (b. 1939), British Conservative politician. Times (London, 20 Dec. 1986).

** But what experience and history teach is this - that peoples and governments have never learned anything from history, or acted on principles deduced from it. Georg Hegel (1770-1831), German philosopher. The Philosophy of History, Introduction (1807).

** Events in the past may be roughly divided into those which probably never happened and those which do not matter. This is what makes the trade of historian so attractive. W. R. Inge (1860-1954), Dean of St. Paul's, London. Assessments and Anticipations, "Prognostications" (1929).

** Only strong personalities can endure history, the weak ones are extinguished by it. Friedrich Nietzsche (1844-1900), German philosopher. Thoughts out of Season, pt. 2, sct. 5 (1874).

Unka George (George McDuffee)

There is something to be said for government by a great aristocracy which has furnished leaders to the nation in peace and war for generations; even a democrat like myself must admit this. But there is absolutely nothing to be said for government by a plutocracy, for government by men very powerful in certain lines and gifted with the "money touch," but with ideals which in their essence are merely those of so many glorified pawnbrokers.

Theodore Roosevelt (1858-1919), U.S. Republican (later Progressive) politician, president. Letter, 15 Nov. 1913.

================= If only it was!!!!!

Easy to replace a president, and he will be gone in two years.

The problem is that the data shows it is the system and not the man, and that it has taken us 28 years to get here.

Resolution of these types of problems, i.e. long duration systemic pathology is difficult, and generally impossible.

The chapter 7/11 procedure for a sovereign government is not a calm judicial process but rather a very unpleasant and disruptive physical activity.

Unka George (George McDuffee)

There is something to be said for government by a great aristocracy which has furnished leaders to the nation in peace and war for generations; even a democrat like myself must admit this. But there is absolutely nothing to be said for government by a plutocracy, for government by men very powerful in certain lines and gifted with the "money touch," but with ideals which in their essence are merely those of so many glorified pawnbrokers.

Theodore Roosevelt (1858-1919), U.S. Republican (later Progressive) politician, president. Letter, 15 Nov. 1913.

Gunner, the point was not that it is all W's doing, but rather that it is the doing of a long string of crooks feasting on *our* seed corn, with W only being the current chief practitioner.

Unk's follow-up hits it on the nose, again.

As an aside, I have an additional problem with W's fascist tendencies, hiding behind ridiculous claims that the Constitution needs to be trampled for the sake of 'security'. He has been able to make remarkable progress in that direction, abetted by supporters who should know better. You, for example, have the knowledge from life experiences see through B. S. like taking tweezers away from old ladies on airplanes. (And that is no exaggeration, BTW. I recently had to abandon a pocket multitool because it had scissors with quarter-inch blades.) All they are doing is numbing the sheeple to continuous government control and intrusion and I believe that is the deliberate intent.

Gunner wrote: > Bush's Fault!!!!!!!!!!!!!!!!!!!!!!

Sigh...I guess your irony meter is in the fritz. Or I didnt put in the flags.

No on the other hand..I dont see any mention in his speeches or deeds about 'Trampling the Constitution". If so..please point them out. Along with any "fascist" factoids you may wish to drag up. However..they will be examined by all here.

On other hand...

"When personal freedoms being abused, you have to move to limit it," Bill Clinton

Clinton: "I can spend your money better than you can."

Need more?

Please advise how your personal freedom has been Infringed by Bush Then Ill tell you the many ways MY personal freedom was infringed by Clinton.

Got a deal?

Gunner

"If thy pride is sorely vexed when others disparage your offering, be as lamb's wool is to cold rain and the Gore-tex of Odin's raiment is to gullshit in the gale, for thy angst shall vex them not at all. Yea, they shall scorn thee all the more. Rejoice in sharing what you have to share without expectation of adoration, knowing that sharing your treasure does not diminish your treasure but enriches it."

- Onni 1:33

Here's an idea for generating cash:

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Gunner wrote: > Sigh...I guess your irony meter is in the fritz. Or I didnt put in the

Nope, caught it, felt it needed comment anyway.

Yup.

"Patriot" Act.

Wiretap and Entry sans Warrant.

Of COURSE he doesn't *say* he is trampling the Constitution --- Sheesh Gunner, pay closer attention and don't stop thinking when someone is trying to *agree* with you. I have no doubt you can paint Billy Willy with a similar brush. Again, the point isn't that any one of them has been Good but that they have all been Bad. There is no point in trying to control Clinton now because he is no longer in office!

George, Don't worry, we'll solve this problem right after we solve the problem of fat Americans.

Gary H. Lucas

Moon Over Miami. Now please point out the data points I requested.

Uncles Mustache is Green.

Please point out the infringements.

Ill be waiting for your clarifications. Be sure to include the Constitutional cites you base your claims on.

Gunner

"If thy pride is sorely vexed when others disparage your offering, be as lamb's wool is to cold rain and the Gore-tex of Odin's raiment is to gullshit in the gale, for thy angst shall vex them not at all. Yea, they shall scorn thee all the more. Rejoice in sharing what you have to share without expectation of adoration, knowing that sharing your treasure does not diminish your treasure but enriches it."

- Onni 1:33

Not really. I just have better things to do than hit a little ball in a hole with a stick. Besides, golf is for old farts.

Hawke

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