These are my random musings. Hopefully they will be witty, insightful, and frequently updated.
The global economy is humming right along
Published on August 30, 2007 By singrdave In World Trade Issues
It's incredible that there are doomsayers in the world and in the ranks of JoeUser. Because according to US Treasury Secretary Hank Paulson, "This is far and away the strongest global economy I've seen in my business lifetime." The global economy is humming along with unprecedented speed and power. The BRIC nations (Brazil, Russia, India, and China) are financially healthy and strong -- global companies like GE and Microsoft expect international growth to outpace domestic by almost 2 to 1: 12% growth abroad to a still-impressive 6% within the US. Cross-border trade, commodity prices, and per capita GDP have all soared to historic levels, and nowhere have things been growing faster than in the emerging world.

While the current pace isn't quite a record - according to the IMF the world grew at a 5.4% average annual rate from 1970 to 1973, vs. a projected 4.9% from 2003 through 2007- there's really no contest. When our ties were fatter and we were thinner, total world GDP was $13 trillion in constant dollars. Today it's more than $36 trillion. Not to mention, as investor Jim Rogers notes, "there are three billion people in places like Eastern Europe, Russia, India, China, and all of Asia who weren't participating last time around but who now are." Back then, Germany and Japan led the charge. Now the emerging markets are running fastest, along with Europe, which has - for the first time in years - pulled ahead of the U.S. in GDP growth.

All is booming but as always there are dark clouds on the horizon -- that's why they call it a business cycle. With interest rates going up, heavily leveraged hedge funds and private-equity firms -- not to mention cash-short adjustable-mortgage holders and the bankers who've lent to all three groups -- have trillions of reasons to worry. And of course, the ever-present threat of conflict in the Middle East, an act of nuclear terrorism, and some other exogenous shocks to the system could bounce the whole boom. However, the potential threat of geopolitical turmoil is no reason to put away the champagne. It would take another 1914 or 1941-esque world war to significantly derail the train. Just prosper while the prosperin' is good. And keep the long view.

on Aug 30, 2007
Thankfully there have been no system shocks since the Asian financial meltdown of 1998.
on Aug 30, 2007
on Aug 30, 2007
It is still all Bush's fault!
on Aug 30, 2007
The problem with liberals that everything has to be perfect according to their standards, or it's just not right at all. The economy isn't perfect, but it's very strong.
on Aug 31, 2007
The economy isn't perfect, but it's very strong.

Please tell me what is perfect in this world?
on Aug 31, 2007
LIES!!! Heresy, I say. Just plain heresy.

No, it just means I'm a Bush shill. I'm an ignorant NASCAR-watching idiot lapdog who only watches the pro-Bush propaganda on FOX News.
on Aug 31, 2007
Drama sells papers and keeps advertisers happy because the brain dead find it easier to moan about what should have happened, than make constructive comment on potential solutions and be held accountable for those comments. Its easy to sound profound and all knowing about what has already happened, its a different and far more difficult ball game to be positive, chart future direction, and horror of horrors actually be held accountable for those decisions.

The brain dead are easy to spot, they tend to be specific in allegations, and vague generalisations on future remedies. I agree with you whole heartedly, too often the Sky if Falling, when in fact most of the time the Sky is Climbing, but its a lonely place to claim the latter, much easier to claim the former and blame someone else.
on Aug 31, 2007
too often the Sky if Falling, when in fact most of the time the Sky is Climbing

Good news is hard to find, it's true. I believe this shows good tidings for the future and a good report card for the world of the past few years, too.
on Aug 31, 2007
The Borg Collective, I mean the Democrats will never accept this kind of talk. It's only a matter of time before out resident "Conservative" (Democrat spy) comes around to try to assimilate us.
on Aug 31, 2007

It's only a matter of time before out resident "Conservative" (Democrat spy) comes around to try to assimilate us.

Since joining JU, many "liars" have been exposed because they cannot keep up their lies forever.  We had the Indian Girl, another one who has been outed so many times, she must live in a revolving closet, and of course Col Klink.  If anyone doubted he was a conservative, that doubt was laid bare when he railed against Reagan.

Many hate Reagan.  because he was the best conservative out there.  Not the best policy wise, but the best for the ideology.  Those who hate him, hate him for that (and it does not appear - for the most part, except for the lunatic fringe - to be a personal hate, only a hate of his accomplishments).  He was by no means a perfect conservative, and he compromised on occassion since congress was ruled by democrats.  But only a loony loopy luddite leftist hates him for being him.  And that is Col Klink.

on Sep 06, 2007
Since joining JU, many "liars" have been exposed because they cannot keep up their lies forever.

In hindsight, I guess this article was in direct response to the constant "sky is falling" pronouncements from the good COL. Nothing is perfect, whether in the US or anywhere else in the world, but by God it's not the end of civilization. In fact things look pretty darn "up". Hence the article.
on Feb 22, 2008
What do you think of Obadiah Shoher's views on the Middle East conflict? One can argue, of course, that Shoher is ultra-right, but his followers are far from being a marginal group. Also, he rejects Jewish moralistic reasoning - that's alone is highly unusual for the Israeli right. And he is very influential here in Israel. So what do you think?
on Feb 24, 2008
uh, here's the site in question: Middle East conflict