I think we are going to see the effects of running a trade deficit for the better part of 15 years. In the end, the only thing that is going to matter is real currency and we have sent too much out of the country. This is going to make for a long restart of the economy (I would guess for over a decade) as a lot of businesses are going to want a very minimal exposure to debt. This will continue to cause deflationary pressure on things like houses, farmland, commodities, etc.. I really think the federal gov't printing money is only going to put off pain we sooner or later need to face to move on. Close to home, Eastman Kodak is in the process of letting go of 1500 more employees and is only a shell of what it was a quarter century ago. I don't think this area will ever be as viable as it was when I was coming out of school. I can't give any predictions, but we might be surprised at who might abandon us internationally if we can't turn this around in a couple years.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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