Skip to comments.NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed
Posted on 04/07/2012 7:05:08 PM PDT by TigerLikesRooster
NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed
Rob Wile | Apr. 5, 2012, 2:02 PM | 17,651 | 67
A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness.
The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57 percent said the decision "involved the possibility of moving existing activities out of the U.S."
Meanwhile, only 9 percent considered moving existing activities from another country into the U.S. "A U.S.-based respondent was three times as likely to be considering moving business activity out of the U.S. than a non-U.S. respondent was likely to be considering moving an activity into the U.S," writes Professor Michael Porter, the study's author.
The most interesting table from the study plotted current versus expected American industry sector global success.
No, you're not missing something: The respondents expect a decline in competitiveness for all sectors.
(Excerpt) Read more at businessinsider.com ...
BO smiles at his success
there’s a harvard alum in the white house. who freaking cares what they think. they’re yesterday’s news.
If we can get Obama out of the White House, maybe we have a chance to fix things. Otherwise, the outlook is dire.
Romney may be an improvement, though not by much.
“BO smiles at his success”
BO didn’t do this.
He is merely the head on the zit.
I dont’ like Romney either, but the titans of international finance and manufacturing see him as one of their own. Perhaps they won’t be so quick to write off the U.S.A. if they think one of their own is President.
1. The size of government is just TOO big with too much bureaucratic overlap, bloated agencies, and too many obsolete/unneeded laws on the books.
2. An income tax system whose sheer complexity and high tax rates discourage savings and capital investment in the USA.
This is why I call for an aggressive audit of government so we could cut the size of government 30% and gutting the current income tax system in favor of one that is vastly more business-friendly.
Romney will be an improvement only if we get impressive majorities in both houses, and that should be the FR focus now.
It’s going to take a miracle to save this country.
Romney and a Republican dominated congress would only slow things down a tiny, tiny bit.
The rot permeates .....everything.
Hey, we’re running $1.2, $1.4 trillion deficits in a $14 trillion dollar economy, right?
So government spending well over what gov’t receipts in tax revs is 10% of the economy, right?
And the government borrows 43% of every dollar it spends, right? Let’s call it 40%.
So correct me if I’m wrong. 40% of 10%, or 4% of our GDP just simply does not exist based upon organic demand. It “tallies”, it exists on the coin counter because the government borrows money and spends it.....somewhere.
Our growth rate is cited as 1.5%, 2%, 3% depending upon whom you wish to listen to. But 4% of it is non-existent.
The inescapable conclusion is that there is no growth in the economy absent government deficit spending. In one sense, the Timmy Geithners of the world are right: If we balanced the budget tomorrow the economy would shrink by 4%, which would probably be called and feel like a more-than-mild recession. Add in the knock-on effects and it would be worse.
Oh, and this condition has existed since 1983.
Let’s get this collapse over with and start anew. There are thieving, effeminate tyrants in all levels of US government and government-linked business now. I’m in my mid-50s, recently shoveled hundreds of cubic yards/meters of rocky earth by myself (personal project—gravity-fed water and solar heating systems) and can do a pretty good jump-spinning crescent kick (learned over 30 years ago). ...working on the tornado kick now (for health) and beginning staff/bo (going to herd yaks here at high altitude soon). ...love to do stone masonry and agriculture.
Many of my fellow Americans are mice, who need to become men. We can do this and rebuild.
“Lets get this collapse over with and start anew. There are thieving, effeminate tyrants in all levels of US government and government-linked business now.”
My point with that comment was that our country is running on debt without adequate manufacturing for trade. We can rebuild productivity, if we toughen-up and get to real work.
Declare Harvard (and by extension, HBS) a clear and present danger to the US.
Roll the B-52’s and B-1’s, turn Cambridge, MA into a smoking hole.
And a whole lot of other problems would be solved at the same time, too.
You’ve nailed the underlying issue: A component of our “GDP growth” is based on borrowing from the future. It’s a mirage, a fraud, wrapped in BEA/BLS accounting to legitimize it.
Romney doesn’t matter- HE CAN”T WIN!
Romney is a national socialist, a fascist; please explain how that is better?
The United States has a 39% corporate tax including the Alternative Minimum Tax(which should be abolished) not including state and local taxes. Would you want to start a corporation or business with that amount of taxes?
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