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Originally Posted by Xantar
I have a question, and really I'm just curious because I think you do make a good point and it's not my intention to try to refute it. But my question is: what do we do about China? They are the world's second biggest polluter, and at the rate they're going, they'll surpass even the United States about 20 years from now. And they know that imposing environmental policies on themselves could cripple their long-term economic prospects. And it's not like anybody could threaten them with military or economic sanctions. No sane diplomat would suggest enforcing an embargo against China or anything. So what do we do about them?
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When it comes to China, pollution is the least of my worries. China is in bed with too many of the wrong kinds of people, namely North Korea and Iran, with Iran being the perhaps the greatest threat to West right now. First we need to get China to be a GOOD friend of the West, and then we can worry about pollution.
Back to the point, we should use China's burgeoning capitalism against them. We (meaning the Western world) need to have the strength and cooperation to place trade embargos on China if need be. The US needs to have the strength the rip Wal-Mart, Google and other major western owned employers from the country. China now has a taste for capitalism, and if we deny them that foodstuff, they might just have to play ball. Notice I say might. Right now the world is as dangerous as it has ever been, and anything can happen, so I won't pretend to predict what China will do. As for Iran, I'm pretty sure I know what they want to do (its in their constitution) but thats a point for another thread and scares the BEJEEZUS out of me.
Well stated on the economy, Xantar, but yours isn't the only view (as relevant as it is). There are many factors that are decreasing the expendible cash flow that have nothing to do with company success and revenues and salaries, like the rise in gas prices and general wartime hesitance. And as for the income statistics, there are many that believe salaries inflated far too quickly with the economy in the 90's and helped greatly in the internet collapse of the early 00's. So the numbers that you quoted would be a false comparison if this were accurate. In this theory, the drop is more of a correction of salaries that never should have been as large as they were, rather than a reflection of the economy. In fact, the stability of this economy considering the rising gas prices and war-weariness is amazing, especially considering the economy has little to do with wartime supply production. You say tomater, I say tomoter.
I do think that as the war continues to go on, it will continue to effect the economy negatively, along with the rising gas prices (hopefully they are starting to level out). I doubt it would create a recession, though, barring some unforseen happenstance... like... you know... World War 3. (I'm kidding, but not really)