Comments on: American Public are Becoming a Much Poorer Society http://www.dailyreckoning.com.au/american-public-poorer-society-2/2008/05/29/ An independent perspective on the Australian and global investment markets Sun, 08 Nov 2009 03:43:55 -0600 http://wordpress.org/?v=2.8 hourly 1 By: Dan http://www.dailyreckoning.com.au/american-public-poorer-society-2/2008/05/29/comment-page-1/#comment-24970 Dan Sat, 31 May 2008 15:33:54 +0000 http://www.dailyreckoning.com.au/?p=2773#comment-24970 "US technological capacity is anything but hollow. This capacity can eventually bring the US recession to an end." I've worked on small contracts with a half a dozen or so of the big American names, a few well-known UK companies and 1 company from each of Germany and S. Korea. Hardly a comprehensive sample, but enough to form the opinion that they have by far the best workforce and culture in the world in the software industry. Not necessarily the smartest workforce, but to my mind by far the most effective. No matter what other problems they have, I would never bet against the American ability to innovate. "US technological capacity is anything but hollow. This capacity can eventually bring the US recession to an end."

I've worked on small contracts with a half a dozen or so of the big American names, a few well-known UK companies and 1 company from each of Germany and S. Korea. Hardly a comprehensive sample, but enough to form the opinion that they have by far the best workforce and culture in the world in the software industry. Not necessarily the smartest workforce, but to my mind by far the most effective.

No matter what other problems they have, I would never bet against the American ability to innovate.

]]> By: Coffee Addict http://www.dailyreckoning.com.au/american-public-poorer-society-2/2008/05/29/comment-page-1/#comment-24744 Coffee Addict Fri, 30 May 2008 04:47:03 +0000 http://www.dailyreckoning.com.au/?p=2773#comment-24744 Howard gets a bit hysterical on these issues, partly because it’s his job to do so. I agree with him on one point, that is the money is gone. I don't agree that the US is going to get poorer. Americans will merely be forced to live within their means for a while -- just like everyone else. Yes it will be painful but from an Australian perspective this fact (by itself) is not a major concern. I don't entirely agree with Howard's view that all the previous "booms" are hollow. US technological capacity is anything but hollow. This capacity can eventually bring the US recession to an end. Contagions that could prevent this "potential" recovery are the crazy legal system, social welfare poverty traps and robber baron medical costs. US legal structures are based on an arrogant (and unaffordable) presumption of continued Empire. The more I think about punitive damage risks the less want to do business in the US. Americans can easily avoid Howard's doomsday predictions but will they? Howard gets a bit hysterical on these issues, partly because it’s his job to do so. I agree with him on one point, that is the money is gone.

I don't agree that the US is going to get poorer. Americans will merely be forced to live within their means for a while -- just like everyone else. Yes it will be painful but from an Australian perspective this fact (by itself) is not a major concern.

I don't entirely agree with Howard's view that all the previous "booms" are hollow. US technological capacity is anything but hollow. This capacity can eventually bring the US recession to an end.

Contagions that could prevent this "potential" recovery are the crazy legal system, social welfare poverty traps and robber baron medical costs. US legal structures are based on an arrogant (and unaffordable) presumption of continued Empire. The more I think about punitive damage risks the less want to do business in the US.

Americans can easily avoid Howard's doomsday predictions but will they?

]]> By: Mireille http://www.dailyreckoning.com.au/american-public-poorer-society-2/2008/05/29/comment-page-1/#comment-24677 Mireille Thu, 29 May 2008 15:31:56 +0000 http://www.dailyreckoning.com.au/?p=2773#comment-24677 So if they are bankrupt, can we force the FED to liquidate and go away like a vapor? So if they are bankrupt, can we force the FED to liquidate and go away like a vapor?

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