With budget deficit looming in every corner or government municipalities such as in IL and CA, many American feel that the only way to lower austerity and budget deficit by either increasing tax revenue or reducing government debt.
Is it a feasible, really, to ramp up domestic consumption based on solely domestic production and service? Is it truly sustainable to survive only on purely American products and services for American? Likewise, for Italian's for Italian, French's for Frenchmen, Greek's for Grecian?
You can help local economy by, let say, cutting your hair at your local barber, buy meat and produce from localized grocers or local farmers market or to the extreme if truly you have time and do not mind the effort, you may opt to grow your own food in your backyard and breed your own chickens for the poultry and eggs. Still, is it sustainable for a modern country such as USA to go back into traditional agriculture way of life?
Many patriotic slogans encourage people to avoid Walmart, Target, and other big box stores, both brick-and-mortar and online. The new-wave just like Occupy Wall Streeters, demands big government to stay out of business world and be more like a police and weeding out liberalization. Demanding more social equality and more job creation and stop corporate greed.
Stop liberalization of economy? Really, does one think stopping capitalism is the fairest of all ? I do not particularly keen on it since socialism nor heavy government intervention blocking economy laissez faire. Just let the ball rolls on its own. Just like the government should let the housing price in US fall down further due to lack of demand, lack of jobs that lead to lack of purchasing power. After it falls then it will find the supporting cushion to remain steady or go back up according to economic health.
More governmental intervention will create more policy and jobs within the government itself. Then, usually there is tender bidding for governmental contract and it is usually potpourried with cronyism and favoritism. Thus, will it truly create more job growth to the correct targeted population? If jobs are not created or tax break is given only for those who win the tender then tax revenue cannot be increased. Unless, the government is willing to do more work by chopping the big project into piece-meals and scattered them into several local vendors across regional geography, then it will become more effective.
Economic globalization is inevitable. So to reduce budget deficit that is currently blamed mostly on China, US must export more. Period. Export more intangible services to create more nominal value. When the rest of the world relies on cheaper production cost of daily living necessities such as clothing, plastics, machinery, automotive from China and India, US can create more ideas such as financial derivates products, film and music industry, art industry, financial trading proprietary, education, and more. Export those intangible services and brainchilds to countries worldwide. Let's be honest, every corner of the earth have their eyes fixated and entertained by anything happening in Hollywood. Even Bollywood movie industry is named after Hollywood world-known movie industry.
One country cannot close its own door towards the world and when US impose Yuan (Renminbi) appreciation pressure to China, it won't be beneficial for country such as US nor the world economy as whole. The snowball effect is tremendously devastating.
Is it a feasible, really, to ramp up domestic consumption based on solely domestic production and service? Is it truly sustainable to survive only on purely American products and services for American? Likewise, for Italian's for Italian, French's for Frenchmen, Greek's for Grecian?
You can help local economy by, let say, cutting your hair at your local barber, buy meat and produce from localized grocers or local farmers market or to the extreme if truly you have time and do not mind the effort, you may opt to grow your own food in your backyard and breed your own chickens for the poultry and eggs. Still, is it sustainable for a modern country such as USA to go back into traditional agriculture way of life?
Many patriotic slogans encourage people to avoid Walmart, Target, and other big box stores, both brick-and-mortar and online. The new-wave just like Occupy Wall Streeters, demands big government to stay out of business world and be more like a police and weeding out liberalization. Demanding more social equality and more job creation and stop corporate greed.
Stop liberalization of economy? Really, does one think stopping capitalism is the fairest of all ? I do not particularly keen on it since socialism nor heavy government intervention blocking economy laissez faire. Just let the ball rolls on its own. Just like the government should let the housing price in US fall down further due to lack of demand, lack of jobs that lead to lack of purchasing power. After it falls then it will find the supporting cushion to remain steady or go back up according to economic health.
More governmental intervention will create more policy and jobs within the government itself. Then, usually there is tender bidding for governmental contract and it is usually potpourried with cronyism and favoritism. Thus, will it truly create more job growth to the correct targeted population? If jobs are not created or tax break is given only for those who win the tender then tax revenue cannot be increased. Unless, the government is willing to do more work by chopping the big project into piece-meals and scattered them into several local vendors across regional geography, then it will become more effective.
Economic globalization is inevitable. So to reduce budget deficit that is currently blamed mostly on China, US must export more. Period. Export more intangible services to create more nominal value. When the rest of the world relies on cheaper production cost of daily living necessities such as clothing, plastics, machinery, automotive from China and India, US can create more ideas such as financial derivates products, film and music industry, art industry, financial trading proprietary, education, and more. Export those intangible services and brainchilds to countries worldwide. Let's be honest, every corner of the earth have their eyes fixated and entertained by anything happening in Hollywood. Even Bollywood movie industry is named after Hollywood world-known movie industry.
One country cannot close its own door towards the world and when US impose Yuan (Renminbi) appreciation pressure to China, it won't be beneficial for country such as US nor the world economy as whole. The snowball effect is tremendously devastating.
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