Posted on 02/17/2009 5:12:29 PM PST by BfloGuy
The U. S. by far remains the world’s leading manufacturer by value of goods produced. It hit a record $1.6 trillion in 2007 — nearly double the $811 billion in 1987. For every $1 of value produced in China’s factories, America generates $2.50.
(Excerpt) Read more at buffalonews.com ...
Come on, tell what you think is a standard wage.
Why are you scared of numbers?
I am not obsessed with numbers, how else can you express wages without numbers.
I noticed you changed it from a person to a family.
Some did but many did not. Count me among the many that did not.
I think it is probably around the $80 per hour package his GM union buddies are getting.
There will be bankruptcy from the credit (default) crisis, trillions in spending to solve it (fruitlessly), large deficits, and ultimately a default of some sort in treasuries. Obviously those problems are exacerbated by the trade deficit, but not caused by it. The trade deficit pales in comparison to the financial debts that are being defaulted on here and abroad.
No it makes it clear that I am a realist. I know part of the extension of the Great Depression was due to protectionism. I don't want the government to tell me what I can or can't buy abroad. I certainly don't want a trade war in the middle of a deep worldwide recession. That said, I think that buying crap from China is deplorable and doing it with a large deficit is reckless and stupid. But those are Americans reckless and stupid (and "independent") decisions, not the government's.
The governtment considers McDonalds manufacturing rather than service? Do you have a source for that?
Well, MacDonalds does use an assembly line.
Well, you identified part of the problem. The Government continuing to suck life out of the economy. A hunderd years ago, farming was the biggest occupation.
Want to go back? I'd rather work at Wall Mart than be picking cotton.
In China, manufacturing is piece work jobs just as they were here 50 years ago. Ever do that? In America, manufacturing jobs today are generally highly skilled well paying jobs where the worker has to interact with sophisticated technology. Technology has replaced the industrial 'cotton picker' and those products that don't lend themselves to automation have moved to places that can still pay cotton picker wages.
American still manufactures a lot of stuff, just not stuff that is more efficient to make elsewhere.
Read Adam Smith to understand why.
Personally, I get a nostalgia kick out of seeing those old 707s flying overhead, (the first jet I ever flew on) but how long can they last?
Got links? The Great Depression had mostly one cause which was loose credit, then an inevitable bubble, then an inevitable bursting (Bernanke is actually wrong, it's the preceding loose credit that created it, not the bit of subsequent tightening). The protectionism was not a cause but helped make it worse at the wrong point in time. If you want government protectionism now, you are making the same mistake.
Boeing...with a made in America clause for parts...it’s suicide to make our weapons overseas.
There are few manufacturing jobs in America these days...I should know. My husband works in manufacturing. I have a friend who work for HP...thousand and thousands of jobs are being sent to India...so tech will go the way of autos in terms of outsourcing. As for picking cotton...the people who owned the cotton didn’t make billions and expect the tax payer to support their workers...we pay for food stamps, housing and medical for Walmart workers...this is definitely leading to nationalized health care.
Have you ever heard of the shadow GDP? This is the bogus statistical way the government makes it appear that US manufacturing is fine against the evidence you can see...like shuttered factories that once made garments, steel, autos and most recently furniture.
The government calculated GDP incorrectly...higher than it should have been which paved the way for low interest rates which certainly began the financial problems...the derivatives invented (after bucket shop laws were overturned) are what ‘toxic assets’ really are...interestingly when news sources looked at these things in connection with Iceland’s bankruptcy they found that not CDO’s were mortgage based...it’s gambling for sure.
The figure you provide for GM workers is bogus and if you don’t know this, you are not paying attention and thus are ill informed. If you do know this and continue to post this figure, then you are a liar.
Sirius considered this a factor in the their economic troubles...but please allow your anti-American ideology to blind you to the facts...it’s what free traders do best.
In this case, the British government which was the ruler of America put a tax on their own tea...they were not taxing an imported product (form another country), it was their own product, thus it can be considered a tax and not a tariff...what you think they created a tariff against their own goods? Also, America was a colony not free at this point. England intended to take the raw products from America, manufacture in England and sell it back to America at inflated prices...this is hardly free market and has nothing to do with tariffs...rather it was a form of economic slavery of the American population and we tossed them out and governed our selves...greatest Republic in history...now under attack by globalist and free traders who are willing to sacrifice sovereignty for the almighty yuan. Globalist have subjected Americans to the foreign based WTO and other organizations that should have nothing to say about how America conducts its business or foreign affairs.
A tariff is a tax levied by a government on imported goods; in some countries it also may be a tax on exported goods. A tariff also is called a customs duty or an impost.
In general terms the purposes of a tariff are twofold:
1. To supply revenue to the government; this was especially true in the early days of the United States when other forms of federal taxation had not been developed
2. To protect domestic producers from foreign competition; placing a tax on an imported foreign item would make a similar domestic items more competitive in price; use of this form of tariff is called protectionism. The stock argument presented by protectionists is that such duties are needed only until there is an equalization of production costs between the U.S. and the foreign nation
Why do you object to a loan for GM, but defend Walmarts right to pick the taxpayer’s pocket every year. I guess you just love doing business with Communist China...such a bastion of the free market.
GM has plenty of assets that could be sold in the event of a bankruptcy...the banks, we will never see the money again...of course the masters of the universe are entitled to our money (sarcasm).
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