"This is the belief that markets are self-correcting and best left alone. Soros calls this a dangerous siren song. Far from being self-correcting, he emphasizes, markets tend to excess. They over-shoot. Anyone with any experience of markets knows this.
"When markets are going down, all the weaknesses get concentrated, and you need intervention at the right time to stop things from getting out of control. If the dollar started to melt down, the results could be really nasty. A 1930s-style global depression is not out of the question." It matters little that it is Soros making the statement -- it is an obvious fact to anyone who reads. Markets are already more manipulated by the big players and governments, rather than by supply and demand.
Many of the self-anointed elites fared well enough through the Great Depression, and many of them will through this coming one. It was, and is, their bleeding off all the real people's operating capital through increasing taxes and decreasing real incomes that causes depressions.
What is worse this time is that they have dismantled so much of our manufacturing capability and sent it to our future enemies. Our elected politicians have joined the opposition in an economic war against American citizens.
What is worse this time is that they have dismantled so much of our manufacturing capability and sent it to our future enemies.
A statement that has been said so often that it is believed. The manufacturing base in the US has been fairly constant over the years. It goes down during a recession (when all the statements are made about the manufacturing base leaving the US) and goes up in good times. But so does everything. It is just that manufacturing is singled out because of the higher pay for most of those jobs.
Plus, States that once had a large base are profiled (like Michigan) but others that have gone from zero (like Tennessee) are ignored.
Electronics are one area that the US, on purpose, let the Japanese after WWII have as their base. It helped the economy of Japan move from the feudal age into the 20th century. Japan is hurting more than us in this area because of Korea (Samsung).
The US will always have the edge and will not lose its manufacturing base as long as it stays mostly in the free market of capitalism. Other countries are more state managed and get into trouble because they bet on outmoded technologies.