Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOMEOWNERS

A standard policy insures the home itself and the things you keep in it.

Read More
Flood Insurance FLOOD

Typical homeowners policies exclude flood damage. Get coverage now.

Read More
Earthquake Insurance EARTHQUAKE

Earthquake claims are best covered with a standalone policy.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Life & Health Insurance LIFE & HEALTH

Learn about different health coverage options that fit your needs.

Read More

Spirit of '76 does not mean independence for U.S. economyBy Kevin G. Hall                    

WASHINGTON — This year, as the nation celebrates Independence Day, the sputtering U.S. economy offers a stark reminder that today we're more dependent upon foreigners than ever before.

We need them to finance our debt; China and Japan together hold more than $2 trillion of U.S. Treasury bonds. We need them to supply much of the oil that's critical to our economy. We need them to make the shoes we wear and the gadgets that dominate our lives. We even need them to buy more of the products we make, as growing exports are vital to our economic rebound.

None of these dependencies is particularly new, but there's growing concern about how much economic independence we've lost.

"We're much more dependent than we have been, probably since the 1800s," said Clyde Prestowitz, a former U.S. trade negotiator and the author of the 2010 book "The Betrayal of American Prosperity."

"I think dependence per se is not necessarily a bad thing. The question is whether the dependence is working to your advantage or against you... Our dependence is growing in ways that are disadvantageous to us."

The most obvious example of dangerous dependence comes from foreigners owning our debt.

Read more:

Posted 11:22 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version
© Copyright. All rights reserved.
Powered by Insurance Website Builder