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HoosierGuy

US Is 'Practically Owned' by China

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This is more about why to buy gold:

News Headlines

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.

"America is practically owned by China," he said.

I didn't know this about China and India:

"America is doing what Britain did," Winnifrith said. "America spends much more than it can afford and it's not addressing the issue."

In 1832, China and India were the world's two largest economies and by 2032, they will regain that status, he predicted.

I'm not much of a gold person. I know some right wing fanatics push gold like it's going out of style. But if things keep going the way they are going, I'm wondering if gold might be worth looking at.

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The economic situation is true however in both the United States and Canada. An article I was reading last year pointed out that we went from a balanced trade to a huge import surplus. We have cheaper products such as furniture, computers etc then twenty years ago because we moved all the manufacturing over to China and now India.

Everyone was worried about free trade sending our jobs to Mexico but they lost out to China as well. The biggest problem is we have lost the high paying factory jobs and replaced them with lower paying service jobs. The railroads and highways are jammed because of the amount of stuff we import from China. As more and more people go under the economy will continue to slow down and it will come down to the level that the lower paying jobs will provide for.

But since most are now in the service industry many many of these will lose their jobs in the economic downsizing which of course will make it worse. England did go through it, World War One all but bankrupted the British Empire and they lost the high end jobs to the States. It took them years to adjust their economy to the new society.

We have gone from a manufacturing society to a consumer society.

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Anybody remember a few years go, I think Bush was President, when there was a big up roar about our U.S. ports being owned by foreign (Muslim) countries?

Lets see, China owns the U.S., foreign countries own our ports. The Indiana governor wants to let Germany take care of some of our roads here! lol. Talk about selling out.

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I'm not much of a gold person. I know some right wing fanatics push gold like it's going out of style. But if things keep going the way they are going, I'm wondering if gold might be worth looking at.

"Luke, come to the light side of the force. Turn away from the dark side and all those liberal heathens."

-Obi Wan Kenobi-

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