Posted on 12/10/2006 2:16:39 PM PST by seowulf
Don't bother them with facts, their minds are already made up. It's easier to blame others for their personal situation or vast conspiracies against them than to take personal responsibility for their lives.
great article!
Note: Lou Dobbs is an unmitigated idjut! Only on CNN could this clueless lying wonder exist. What a dimpled dufus!
If we're shipping all our manufacturing to China how do we manage to produce 80% more than Japan each year... You're worried about things that don't exist.
OK, ignore my argument and show a snapshot of today's economies. Again, in Nixon's presidency, the Chinese could not produce enough to feed themselves. That's about thirty years ago. Now the Chinese are closing in on the industrial capacity of second place Japan. In thirty years they will be where, at a growth twice ours? I shouldn't worry about a future China that can output more than the US. At one time Britain was an industrial giant. A hundred years later, the US had to bail its ass out of war with Germany.
Look at your own argument to show how disingenuous you are with facts. The US population is 299,650,000. The Japanese number 127,460,000. The Japanese are 42.5 percent of the US population. From your own source, the Japanese output is 0.99 trillion to the US 1.79 Trillion, or 55.3 percent of the US production. Apparently, Japan is much more productive per capita. What do you find in this to be proud of?
So we output more that we did in the past. So what. We have more people now. Given the head-start we had, we should be more than twice where we are now. Kudlow is a media blow-hard. Anybody who takes him seriously should admit themselves to treatment.
Reasons to worry may not exist today, but the trend will be away from rewarding Americans for doing jobs that people in China or India can do as well for less pay.
During times of global economic expansion, the US will be able to grow along with many other nations. But there is little reason to believe that the US can continue to dominate as in the past.
We are fortunate that countries like Russia, China, and India are so incredibly backward. If they ever tire of self-limiting national policies, their prospects will be incredibly bright until they catch up with us.
Europe is having to deal with the dilemma of supporting their socialist policies while their economy's growth is limited. If they don't adjust their policies, it will accelerate the decline of their economy. If they do adjust, it will create social unrest.
We will have to face the same things over, say, the next twenty years. Kalifornia is toast as soon as the next recession begins. We probably don't have enough courtrooms to address all the legal issues that will surface when Kalifornia can't pay its bills.
Do you really think 10% annualized GDP growth is sustainable? Do you believe the Communists when they tell you their GDP growth is 10%?
I shouldn't worry about a future China that can output more than the US.
Output what? Plastic lawn furniture, cheap toys and Christmas lights? Sixty percent of the goods they export are made by foreign owned firms. Their SOE's and joint stock ventures have been, for the most part, disasters. Twenty-five percent of all loans are said to be non-performing and there is more and more pressure on them to float the Yuan. They had better allow the wealth creation to move westward or the commies will be occupying their time, money and military suppressing a rebellion. China has a long way to go before their per capita (now, 30 times lower than ours) is anywhere near ours. In 2005, our GDP grew about $420 billion (3.5%) while China grew just $150 billion (10%). Which is better?
At one time Britain was an industrial giant. A hundred years later, the US had to bail its ass out of war with Germany.
That's because they became protectionists -- no doubt the same thing that you're advocating here to save those factories and jobs -- and then embraced nanny statism. Thank goodness for Maggie Thatcher and her free market reforms.
Apparently, Japan is much more productive per capita.
Apparently, you neglected to remember that services are also included in our GDP. Professional business services also pays better than manufacturing. Regarding your math on population and output.....the best measure of comparative productivity levels is real GDP per employed person. According to the Bureau of Labor Statistics, in 2005 the U.S. continued to lead the world in this category. All U.S workers produced $81,024 in output each (in 2002 dollars). The next highest country was Norway, where each worker produced $76,635. Japanese workers — renowned for their productivity — produced just $56,313. So, unsurprisingly, you're wrong again.
What do you find in this to be proud of?
I'm certainly not proud of our public education system. I blame them for your lack of knowledge in economics and your poor math skills.
So we output more that we did in the past.
Yes. You're learning.
So what.
You said that Wall Street was shipping all our manufacturing overseas. You were wrong.
Given the head-start we had, we should be more than twice where we are now.
Based on what? Your stellar knowledge of economics and math? We manufacture more than every other countries total GDP except Japan. But that's not good enough for you? Then get to it, you should be able to create a company that can make things and then compete worldwide thereby adding to our already significant advantage.
Kudlow is a media blow-hard. Anybody who takes him seriously should admit themselves to treatment.
"Against ignorance the gods themselves (and Kudlow apparently) contend in vain."
You hit that nail on the head.
Am I alone in HATING Lou Dobbs? Everytime I see that back end of a horse on TV, I always wonder if he took the small bus to school as a child.
bttt
ping
No facts to refute it.
Is a trade deficit bad? Do you think a trade surplus would be better?
bump
Ahhhhhhhhh,forget it !!!
Don't hurt yourself.
Thanks for posting this. :) I'm bumping it back up because the author is on the radio right now with the local talk-radio host.
http://www.wiba.com
As a small business owner, this is SUCH a bunch of BS. We may need to add staff this upcoming year and we've only been in business for two years!
I'm going to try to avoid it if I can for a myriad of tax and governmental reasons, but it may be out of my control in this terrible, rotten, horrible, worthless economy. /sarcasm
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