Bush: Outsourcing painful, but remedy is worse

CNN.com ^ | Friday, March 3, 2006 Posted: 1640 GMT (0040 HKT)

[Gengis Khan]

NEW DELHI, India (CNN) -- Praising India's expanding economy, President Bush warned Friday that fears about job outsourcing to other nations should not prompt the United States to limit global trade. "It's ... important to remember that when someone loses a job it's an incredibly difficult period for the worker and their families," Bush said in a speech in New Delhi. "It's true that some Americans have lost jobs when their companies move their operations overseas," he said. "Some people believe the answer to this problem is to wall off our economy from the world through protectionist policies. I strongly disagree."

[ScreamingFist]

Fine, you can try to micromanage the economy all you want(ala karl marx), I'll stick with Adam Smith.

Harsh. And apparently I have no say in the matter anyway. We'll get globalization, whether you or I like it or not.....

[jveritas]

Exactly. Let Toyota, Honda, Nissan, Mercedes, BMW, BASF, Shell, BP, foreign financial firms, engineering and technology firms, foreign pharmaceutical firms, etc... take away all the jobs and investments they have created and have made in the US and then we will see a real recession and a huge unepmloyement rate. Foreign companies and investors come to the US because it is the best place to invest on the planet period.

When Buchanan was complaining to President Reagan that the Japanese are buying a lot in our economy President Reagan replied that when the Japanese see a great investment they will buy it and the US is a great investment for everyone in the world.

[investigateworld]

"BTW, you do know that American home ownership is at an all time high."

Excuse me, but that's Toddster's mantra ;^)

[Logophile]

No. But why to invest time and money in mastering engineering skills if you do not have good career perspectives? Looks like managing is more lucrative than producing.

Perhaps. But even managing requires developing some skills, which requires an investment in time, money, and effort. An engineering degree would be a good start.

Look, I do not buy into this talk of doom and gloom. I do not believe that America is finished because we cannot compete with cheaper foreign labor ("slave labor", as some posters insist on calling it).

The one sure way to lose is to give up and fail to compete.

[SwordofTruth]

The day of making things via human labor will be over in ten or twenty years in any case.

Would you bet on that? I know I wouldn't.

[A. Pole]

But here is the good news. The US still has the freest economy in the world

Hwo do you measure it? Do you have some data?

[dljordan]

"I am absolutely sure that you did not vote for President Bush."

I have no doubt that you believe that I didn't vote for him.

[hedgetrimmer]

We

We? Are you a US citizen?

[gogoman]

The day of making things via human labor will be over in ten or twenty years in any case.

That's what Karl Marx said (I'm not being facetious), and hence his prediction of communism. In other words, Globalists = Communists.

[SwordofTruth]

No, this is REALITY.

I have the feeling you wouldn't know reality if it crashed into you.

[hedgetrimmer]

half the growth rate of the US economy, and that can be related back to their restrictive and more protectionist economic model that you preach.

Au contraire Dane. It is they who have opened their economy up through "free trade" through the EU, then the WTO. Their economy is suffering from "free trade".

[Dane]

Economic freedom is almost 50 times more effective than democracy in restraining nations from going to war. In new research published in this year’s report, Erik Gartzke, a political scientist from Columbia University, compares the impact of economic freedom on peace to that of democracy. When measures of both economic freedom and democracy are included in a statistical study, economic freedom is about 50 times more effective than democracy in diminishing violent conflict. The impact of economic freedom on whether states fight or have a military dispute is highly significant while democracy is not a statistically significant predictor of conflict.

This year’s report notes that economic freedom remains on the rise. The average economic freedom score rose from 5.2 (out of 10) in 1985 to 6.4 in the most recent year for which data are available. In this year’s index, Hong Kong retains the highest rating for economic freedom, 8.7 of 10, closely followed by Singapore at 8.5. New Zealand, Switzerland, and the United States tied for third with ratings of 8.2. The United Kingdom, Canada, and Ireland ranked 6th, 7th, and 8th, respectively. Australia, Estonia, Luxembourg, and the United Arab Emirates tied for 9th

Link

Ruh roh, the UAE is ranked 9th. That should rankle some feathers.

[jveritas]

You are reciting DNC talking points but you forgot to mention their important talking points about all the new jobs created are burger flipping.

We have better jobs and better standards of living than all any other nation in the world. You need to travel more outside the US, to see how is that the vast majoirty of people in the world do not come close to our great standards of living, and I am not just talking about third world countries, I am talking about industrial nations as Western Europe and Japan. The only two countries that can come close (not very close) to our standards of living are Canada and Australia.

[nopardons]

Then G.H.W.Bush working in the oil industry, is part of his "perpetual government service", is it?

G.W. Bush's work in the oil industry and owning a baseball team, are also part of "perpetual government service" too?

This country has "prospered" for many different reasons; having a large middle class isn't one of them. That is a benefit, not a cause.

The "flat earth" contingent, are those who want a FORTRESS AMERICA !

[jveritas]

Playing this stupid game of yours again?

[Do not dub me shapka broham]

We also have a negative personal savings rate.

The first time that's occurred since 1933.

And I don't see how people who are maxed out on their credit cards, unable to make payments on their mortgage, and have to find ways to compensate for all those jobs we're shipping to overseas, are an indication of a robust economy.

[hedgetrimmer]

I'm sorry, what is your status? I forgot.

[kenth]

Too, add in that while the numbers employed may be high, is it quality work, or is it the new manufacturing sector (building burgers instead of electronics, etc.)?

[A. Pole]

Hong Kong retains the highest rating for economic freedom, 8.7 of 10, closely followed by Singapore at 8.5. New Zealand, Switzerland

Thank you. So it means that The US does NOT have the freest economy in the world. this place belongs to Hong Kong followed by Singapore, New Zealand and Switzerland before USA.

[Do not dub me shapka broham]

No, they're the ones who wholeheartedly believe there is no substantive, tangible difference between an unemployed American and an unemployed foreigner living halfway around the globe.

They are the onest that belong to the Flat Earth Society.

In fact, they proudly wear that label.

I was under the impression that we had moved past the concept of a geocentric universe, but apparently I was mistaken.