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Overheard during Lunch hour:
(All names changed to protect the identity of the speakers)
Tom : It looks like every developed country ought to have a developing country to support its economy. USA has Mexico, Singapore has Indonesia. So the developing countries have a ready market for their goods while the developed countries can live in their own bubble of consumerist economy.
Jerry : It is really a shame how the Americans live. There is no concept of ‘saving’ there. It is all ‘spend, spend, spend’ and ‘buy, buy, buy’. Irrespective of their incomes, people have their own houses. Everyone has a car, and then they buy a truck. Then they also want a boat because they want to go fishing. And how do they get the money for all this? They borrow from the banks. Is it any wonder that their economy went bust?
Spike : I saw in the news today that USA may lose their AAA rating of the state of their debt doesn’t change.
Tom: And who gives the AAA rating? USA gives it to themselves.
Jerry : They should never have received the rating in the first place. All they do is just print money and give it out.
Spike : Did you know that America had two unemployment indexes – one with just the Whites, and another one with everyone in it. How can they do such a thing? When their own President is a Black?
Tom : Ten years ago, if someone had asked an American whether they would have a Black president, they would have replied – “Not for the next hundred years.” But look at what has happened there.
Spike : I wonder how America can bring back all the jobs to the country. The unemployment rate there is appalling. They no longer have the economies of scale to manufacture goods in their country, and have to rely on others for it.
Jerry : This is actually a cycle that every economy goes through – first they are agrarian and need agriculture to develop. Then they move into a manufacturing economy where they produce goods. At this stage, the standard of living of its people increase, and they slowly transform into a consumerist economy to sustain the people’s needs. That is what as happened to the USA.
Tom : But you have to admit – USA has done a fantastic job in the last one hundred years.
Spike : Yes they have. And it looks like they can do no more. In the last two centuries, the Europeans were moving everywhere and getting settled down. Now it is the Asians who are migrating left and right.
Jerry : In fact, the number of interracial marriages is also on the rise. Probably after the next two or three generations, we would be hard pressed to find a pure Caucasian or a Chinese.
At which point I was done with my lunch.
Funny how they started off talking about the state of a developed country and ended up talking about marriages. Interesting how conversations go, huh?