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wrote:

Ummmm.... yes. Damn near two-thirds of it, actually.
Total U.S. oil imports in 2007: 3.656 billion barrels.
Canada: 680 million Mexico: 514 million South America: 557 million, broken out as follows Venezuela: 420 million Ecuador: 72 million Argentina: 12 million Boliva: 1 million Columbia: 50 million Peru: 2 million west coast of Africa: 641 million, broken out as follows Angola: 181 million Nigeria: 395 million Cameroon: 9 million Congo: 23 million Equatorial Guinea: 20 million Gabon: 23 million
680 + 514 + 557 + 641 = 2393.

Only about 20% of our oil comes from the Middle East.
The top ten oil suppliers to the U.S. are, in order, Canada, Saudi Arabia, Mexico, Venezuela, Nigeria, Angola, Iraq, Algeria, Ecuador, and Kuwait.
Only three of those are in the Middle East, and the last one, Kuwait, in tenth place, accounts for a whopping one and three-quarters percent of the oil imported into the U.S. in 2007.
Source for above is the U.S. Department of Energy: http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbbl_a.htm
--
Regards,
Doug Miller (alphageek-at-milmac-dot-com)
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LOL, then take the proceeds from the yard sale and splurge at Wal-Mart. I would not describe yard sales as businesses, otherwise the profits go back to Uncle Sam via Schedules C and D which will do no damn good for this economy.
Regarding federal tax, years ago, we had a 10% investment credit and income average over a five period - that was a better and equitable stimulus.
This stimulus means the treasury prints more paper money which results in more federal debt - now at more than 9 trillion dollars. The Chinese just buy it up, over one trillion dollars so far, $330 billion is US treasury notes according to Wikipedia. This is a strange relationship - your enemy, ideology wise, is also your friend.
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Frank wrote:

result of taking the excess contributions of the 150 or so trust funds and replacing them with non negotiable government notes. That leaves the $5 trillion that is negotiable, some owned by foreign interests, some owned by US funds and some owned by individuals in the form of savings bonds and other government bonds.
BTW, if the debt were all paid off, it would require cashing in all those IOUs and investing the $4 trillion portion in other things - in short, privatizing the trust funds.
But all this is small potatos - the government has currently promised over $50 trillion in unfunded social programs with politicians dreaming up new ways to add to the tab to buy your votes.
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How long before China controls the US?
I doubt our politician have ever read a history books and looked at the superpowers of the world and what happened to them.
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Edwin Pawlowski wrote:

I heard the Arabs were going to buy the US. They couldn't. I heard that the Japanese were going to buy the US. They couldn't. Now you're saying that China is going to do it. I'm not holding my breath.
Find out what percentage of the national debt that 330 billion represents. And how long it took China to accumulate it. And at what rate the national debt is increasing.
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And look at the rate that China is taking more of our money and has a much stronger manufacturing base every ears while ours crumbles. I did not say it would happen next week, but what if some despot leader in China decided to play games, such as putting on an export tax of 100% or so, or stopped exports in total to the US or a lot of other possibilities? Or if China buys Wal Mart.
Just go back and look at powers of the world in the past such as Constantinople, Rome, Venice, England etc. Follow the gold. It may not happen in our lifetime, but it can, and probably will, happen some day be it China or some other country.
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Edwin Pawlowski wrote:

Such actions would hurt China far more than they would hurt the US. Contrary to popular belief the US is not dependent on China for _anything_.
As for China buying WalMart, that would actually be a very good move for them, _if_ they could figure out how to keep it working, but I fail to see how it would be bad for the US.

So how does the "gold" figure into any of those you mentioned?
Yes, eventually the US will cease to be the predominant power in the world. That's life. China has four times our population. If they _don't_ eventually become the predominant power in the world then they have something _wrong_ with them. But my GOD what a market that's going to be!
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Maybe the Chinese will start exporting their manufacturing jobs to the U.S. and it's cheap Mexican labor! What goes around . . .
Dave in Houston
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Haier has a manufacturing plant next to I-95 in South Carolina -- (not too far away from the BMW and Michelin plants near Greenville) --
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Gold = wealth = power. At one time all the powers mentioned (I forgot Spain) had the most gold in the world. Its all in the history books.

That is what I've been saying.

But as long as we buy from them more than we sell, and keep moving our manufacturing over there, they will keep gaining on us and have the potential to control us.
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Edwin Pawlowski wrote:

In which history book is there a cataloguing of the gold reserves of each of these civilizations, and what, exactly, do you believe that has to do with the Chinese economy?

So why are you on about it. You're going to die too, and if you spend all your time obsessing about it you're not going to have much of a life.

Look, the US can struggle to sell faucet washers against fourth-world economies that can make faucet washers that are as good as ours for a tenth the price, or we can just say to Hell with the faucet washer market and concentrate on things that are more profitable. Which makes more sense? And if the fourth world decides to cut off our supply of faucet washers how long do you think it takes to get a faucet washer production line going?
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"J. Clarke" wrote:

If you want a practical example of the above, look no farther than the General Electric Company.
The company has had a dramatic restructuring over the last 25 years, starting with J Welch and now J Immelt.
Gone are the low profit businesses, replaced by higher margin, hitech businesses.
Lew
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Lew Hodgett wrote:

Or you could look at the Motorola model which is to sell off profitable divisions in an attempt to keep the unprofitable divisions afloat. After their divestiture of the handset business, there won't be much left. The bone pickers have almost picked the carcase clean.
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"Doug Winterburn" wrote:

Motorla has been an accident waiting to happen.
You could see the writing on the wall when the CEO @ Sun Micro left and took over Motorola.
His pockets are lined, the share holders are empty from both companies.
Lew
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J. Clarke wrote:

now. I just had too.
--
"You can lead them to LINUX
but you can't make them THINK"
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evodawg wrote:

Well, I just replaced several washers in various leaky faucets--was a lot easier and cheaper than unsoldering the faucets and replacing them with ceramic cartridge models.
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"evodawg" wrote:

At least where I live, they do.
Lew
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There are numerous books on the history of gold and the history of money. Visit any decent library and you'll find a couple of them.
Gold is actually a fascinating subject that goes back thousands of years. The first gold minted as coins go back to 560 BC in Lydia. In 58 BC, Julius Ceasar fought in Gaul and brought back enough gold to pay his soldiers and pay off all the debt of the Roman Empire. I don't know of a particular cataloguing of each countiries reserves, but it has provided wealth and power for a very long time. Don't take my work, look it up. The Chinese are slowly accumulating wealth, much coming from the US.

Obessing? I merely stated a fact. Call it a conversational thing but you prefer to escalate it to something it is not.

In theory you are right, but we are moving more and more to China without the replacement profitable items here yet. Perhaps you can move them along? We have to concentrate more on taking those skilled machinists and train them to become casino dealers. You probably saw the ad in The Courant for the Florida casino. Many openings.
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"Edwin Pawlowski"

Actually, according to the "head hunters", there is a real shortage of "skilled trades" personal.
Tool & Die, Carpenters (not saw dust generators), electricians (not the strip and stuff bunch), plumbers/pipe fitters (more than don't eat the yellow snow), salesmen(not order takers), as well as others, are all positions that are in short supply.
Understand Jay Leno is funding some scholarships for automotive skilled trades positions.
Long on brawn, short on brain, just won't cut it anymore.
Lew
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Lew Hodgett wrote:

Remember "Shop Class?" <G>
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