GENEVA — The U.S. has tumbled further down a global ranking of the world’s most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday.
The announcement by the World Economic Forum was the latest bad news for the Obama administration, which has been struggling to boost the sinking U.S. economy and lower an unemployment rate of more than 9 percent.
Switzerland held onto the top spot for the third consecutive year in the annual ranking by the Geneva-based forum, which is best known for its exclusive meeting of luminaries in Davos, Switzerland, each January.
Singapore moved up to second place, bumping Sweden down to third. Finland moved up to fourth place, from seventh last year. The U.S. was in fourth place last year, after falling from No. 1 in 2008.
The rankings, which the forum has issued for more than three decades, are based on economic data and a survey of 15,000 business executives.
I SAY…IF YOU WANT JOB CREATION…VOTE THEM ALL OUT IN 2012.
Jack and Tina, it is as if you can see tomorrows news today! I just saw this story and it really goes nicely with this thread.” Is Fed Raid on Gibson Guitar Company Enforcing Policy . . . or a Push to Target ‘Made in the USA’?” Obama and the other terrorists/liberals see us slipping to 5th place a really good start but they are far from done.
Anyway, here is the link.
Read more: http://www.foxnews.com/politics/2011/09/07/does-white-house-want-to-ship-jobs-overseas/#ixzz1XIGhmwbh
Hey, more good news for Obama and his economic policies!
(The emphasis below is my own.)
The report noted the U.S. economy is extremely productive, with good universities, strong innovation, and a flexible workforce. HOWEVER, THE HIGH LEVELS OF PUBLIC DEBT AND LOW LEVELS OF TRUST IN POLITICAL LEADERS CONSPIRED TO PULL DOWN THE COUNTRY’S RANKING.
The report also notes:
A lack of macroeconomic stability continues to be
the United States greatest area of weakness (ranked
87th). PRIOR TO THE CRISIS, THE UNITED STATES HAD BEEN BUILDING UP LARGE MACROECONOMIC IMBALANCES, WITH REPEATED FISCAL DEFICITS LEADING TO BURGEONING LEVELS OF PUBLIC INDEBTEDNESS; THIS HAS BEEN EXACERBATED BY SIGNIFICANT STIMULUS SPENDING.
Here is a link to a pdf of the report —
http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf
Toby I’ve been watching that story about Gibson…seems like EPA harrassment to me. I haven’t posted on it becasue not much has happened except a RAID on their premises. This company has been importing the same wood for decades and (apparently) was doing all the paperwork necessary.
I’ll try to get more info and get something up on it tonight!