Free trade bump!
We insource more than outsource. End of story, you whiner.
US' brain drain is India's brain gain
http://www.freerepublic.com/focus/f-news/1366557/posts
Blah, blah, same old rant about how America is going down in flames. And as always, it's wrong. The late 90s bubble was just a taste of things to come, a prelude. The new economy values knowledge, not manufacturing capacity. Yet this guy wants us to protect and invest in unprofitable and commodified industries. Here's a clue: let the market do its job. It's worked wonders in the past and will do so in the future.
1. The education system is all about social engineering not electronic engineering?
2. Union activism has brought down the steel and most manuufacturing industries.
3. Lawyers and environmentalists have made it prohibitive to build new power plants and refineries, nevermind drill for oil.
R & D is the last straw. What it means is that the U.S. will now lag behind innovation, and will not be producing even that at home.
In some areas the U.S. is already a second rate nation, and the numbers of those areas will expand exponentially.
What you see are the useful idiots having their say. They've managed us this far into irrelevence, and seek more.
The U.S. did not become a nation second to none by purchasing products from offshore. It cannot remain a nation second to none by doing so.
Why do we care about being the world's reserves ? If other countries want us to buy from them, they have to take dollars. Period. No dollars, no trade. So, they then have to buy things from us in order to get rid of their dollars. Yes, we are financing our current spending by having foreigners buy T bills. So what ? We are still the safest place to stash money. If our economy sinks, so does the world's. The euro may be rising, but the economies underlying the euro are in big trouble. Would you want to invest in socialist countries like France, Germany, Belgium, England, Holland etc etc ? What do they produce but high unemployment and big welfare lines ?
China ? Would you invest in a Communist country ? India ? Still reeks of socialism and regulated markets.
If we'd just cut the domestic deficit, cut tax rates, and lighten up on regulation, this economy would rival anything China and India could produce.
Does that make sense?
If all manufacturing is off-shore, how do we protect our shore?
A country that makes nothing IS nothing.
A decent hypothesis for an essay. The essay should disprove the assertion on two grounds in this case.
btt
bookmark
We'll end up like england. A glut of lawyers and insurance companies and a few land barons, and not much else.
I don't care what the rich snobby people say, we need manufacturing. All wealth is derived from the land. THat is a universal truth. THat means farming and the process of aquiring raw materials and transforming raw materials into finished product.
When you reach a point when your entire economy is based on accumulating wealth from paper and entertainment, you are headed down a dead end road. THat is a non-sustainable situation. It can be propped up for a period, but inevitably, it will implode.
We have already reached a point where our college educations are becoming pointless. More younger people are opting out of a traditional 4 year degree these days. They go to some accelerated program, and get just the minimum required to qualify for the promotion they are up for. And in the very technical fields, they don't even bother with that.
all true. fine essay by mr. roberts
As I have posted time and again - US tech is dead. The erosion is constant - headcount reduction, offshoring, zero or negative wage growth for those that do have jobs, the engineering college programs would be closing up if not for enrollment of foreign nationals.
All you neeed to do was look at last week's corporate earnings reports to see it - General Motors, once the backbone of US technology in manufacturing - a company that does complex things - engineering, manufacturing, taking nothing and making something out of it - is dying. Who is doing well? The brokerage houses are cleaning up. You can see the dichotomy - companies that push paper, that borrow money from the Fed and split bonds into a dozen pieces and resell the paper, are cleaning up. While GM is dying. Can we build an economic base on paper, on debt and arbitrage and hedge plays? Is that economy going to be able to serve the economic needs or the broad american middle class, or are just the wall street and corporate elites going to make millions?
The erosion began when U.S. corporations outsourced manufacturing.
Lost me here. If it can be manufactured by anybody, it's not high-tech.
Good for China, that's for sure.
Once the real estate bubble pops, lookout.
I don't believe they would intend to do this to the country...but they can clearly be blindered to it. Scales have been allowed to form over their eyes, and their hearts hardened. I saw where the U.S. trustee's office claimed only 5% of bankruptcies had medical debt. A casual survey of the schedules of actual filings show it is in fact more like 30-to-50% as claimed by Bankruptcy practitioners. Sickening.