Tent Cities In The USA

I agree with your analysis. It is simplified just to communicate my thoughts. Intentionally, I did not go into the detailed statistics.

I hope the common Americans save more to pass through tough economic times. The job loss has a great human cost. Arguements start when the going is tough. Parents get divorced, children suffer and the cycle continues to next generation.

An interesting read.. appeared to be oversimplified at places, but over all the essence is correct.. read somewhere that south Asians save around 25 to 27% of their monthly income, whereas Chinese save around 33%. for the Americans it is close to 0%,with their house mortgage payments, car installments, credit card debts plus the fact they have to get their gadgets like the latest iPhones and roombas and what not :-)
Sunset and evening star
And one clear call for me!
And may there be no moaning of the bar,
When I put out to sea
-Tennyson.

Re: # 9

I agree the war is not the only factor. There are so many other reasons. In the USA, I know a large number of working people were given loans to buy homes that they simply could not afford.

I personally know a taxi driver who purchased half million dollar home. He could not afford more than $200,000 home mortgage.

Now the price of the home has come down to 50%. His down payment is gone and bank is losing 50%. Housing market collapse means no new homes and the tax payer has to absorb the losses.

peak oil is the underlying dominant reality that is convulsing the industrialized countries. it signifies the end of growth, collapse of dollar and eventually self-inflicted societal collapse. this collapse is no different in make-up than the collapse of USSR only perhaps more worse in the states. as dmitry orlov is saying its time to start growing vegetables in the back yard and form local communities to face the tough battle of survival ahead.

United States Khema-basti (USK)!

Re: # 8
hassan....
War has not snatched jobs from US people of shifted production from USA...It is the very high appreciation of US$, that makes it most unattractive currency of the world...US have consumed too much...now, they have to go slow or wait for another set of war somewhere else ( liek Iraq-Iran....) where they can push their arms sells...

Re: # 2
Riaz:

You have summarized very well the causes of current economic down turn. Sometimes it is the straw that breaks the camel's back.

I believe the policy of pre-emptive strikes of GWB administration with two wars is the major cause of the current mess. War needs men and materials. During the second World war, America was the manufacturing nation. So the war enhanced the economy. Now the US is a service economy where most US companies manufacture in China, get research done in India and clothing made in Korea and Taiwan. So the trillian dollar wars gave China the most economic advantage.

During the war, the wealthy received the most tax breaks while kids of poor people paid the price.

So let us recognize the reality of our times where Obama will spend most of his time in cleaning out the mess created by eight years of misrule.

cheema sahib: mexicans, like people in almost every country now, come in different colors and flavors. in the US, sometimes a distinction is made between "hispanic white" and "hispanic non-white". in mexico (being paindoos like pakistanis) they have much more of a caste system - with the brahmins being "pure spanish descent" (about 10 percent of the population) vs "mestizo" (the vast majority) vs "indian" (who often speak their indian language and dont even speak spanish - i will never forget them because i visited one of the farms on an indian reservation in mexico once and found myself knee-deep in cow-dung). hope this provides more info you needed to know.

Re: # 3; madani sahib

long time sir! ...

... my understanding is the mexicans/latins are NOT considered white, but I may be wrong

my personal experiences (though admittedly not in the US) dictate that I was always treated on MY own merit as a human being, and not 'classified' based on my skin colour ... though things have evolved in the west, over time, rather than a status quo on this matter (or so I am led to believe)

speaking for the UK, more than 35% of Birmingham city's population (second largest city) is of subcontinental background ... same for Leicester and followed closely by Manchester and Glasgow

every fifth child enrolled in a London school is from an ethnic minority

given the above stats, I don't think a 'racial classification' would be in the best interest of the country (the UK) ... given they are all legally British (as opposed to places like the gulf, where even birth or a lifetime of service doesn't seem to earn one the status of a similar human being as the native)

Riaz sahib: I am glad that you have solved all of Pakistan's problems (mass poverty, endemic lawlessness from the president down to "religious" thugs) that you are able to apply your super-analytical skills to the issues facing the US.

mr. madani #3: good to see you contemplating these great mysteries of the universe. this shows that scientific inquiry is alive and well in pakistan.

What is average income in USA to be considered as lower and upper middle class ?
What is average income of ethinic Indians and Pakistanies?
Are Mexicxans and latin americans considered white blood ?( I have noted many desis have noted police report writes their skin as white)
Color complexionwise are Desis are considered superior or inferior race compared to latin americans specially by white women and men.
Thanks , Good day

The roots of the current crisis can be traced to the Reagan revolution. Beginning in the early 1980s, Reaganomics transformed the United States in fundamental ways. Since the world saw the fall of the Soviet Union and collapse of Communism, the Conservative Republican ideas of less government and more deregulation have continued to change the economic landscape in America and the rest of the world. This revolution has now lasted almost three decades under various US administrations including Bush 41, Clinton and Bush 43. The Reagan ideas have also been adopted and preached by international financial institutions like the World Bank and the International Monetary Fund.

The continued wave of deregulation engineered and supported by America's predominantly Jewish political-industrial elite has led to the creation and trading of what Warren Buffet describes as "financial weapons of mass destruction". Such newfangled, unregulated financial derivative products as some mortgage-backed securities, credit default swaps and other wildly speculative futures and commodities contracts have produced hundreds of billions of dollars worth of personal gains for the financial industry executives and hundreds of millions of dollars in political contributions for American politicians who are now grand-standing as saviors of the American and the world economy.

Some of the European and Asian nations with substantial population of savers and entrepreneurs will recover rapidly and thrive again, as long as they keep their banks and financial institutions on a tight leash. In particular, the world's top creditor nations such as China , Japan and Germany with high savings rates, massive trade surpluses and large central bank cash reserves are likely to come out ahead at the end of the current crisis.
Riaz Haq, PakAlumni Worldwide

nice to read