When our money’s worthless - and it costs $3,000 to buy a used iphone, how big a market will we really be? Factoring in a 23% unemployment rate....
“Many major U.S. companies are making big plans to expand overseas even as some of them announce new layoffs at home, and there’s a chilling reason why: They’re beginning to give up on the American consumer as a source of future growth. “...
didn’t Jefferey Immelt, presently one of obama’s economic advisers (i believe on the council for job development in the US) and CEO of GE- a huge corporation that owns MSNBC and huge corp that has paid no tax, just announce his company was moving their x-ray production division to china??? if it wasn’t so sad it would be funny...
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One
Big
A$$
Mistake
America
I’ll try to act surprised when they give money and support to the Obama campaign in 2012.....
US corporations are holding at least $1T overseas. It makes sense for them to invest it overseas instead of repatriating the money and paying exorbitant corporate taxes. Also, they have to deal with Obamacare....
Just more spin from the LA Times.
Obama’s doing a great job! Of destroying America.
No Shit!!
No surprise at all. No one in their right mind is going to invest in U.S. economic growth as long as Marxists are in charge of the economy.
It makes no sense to take additional risks to try to increase profits if those profits are going to be stolen by Obama and “redistributed”, whether such redistribution occurs via Obamacare, increased taxes, increased regulation, deliberately increased increasing energy prices, deliberate destruction of the currency via insane inflationary policies, or deliberate destruction of the Constitution by ignoring it.
Not only that, unless Obama’s successor abolishes every one of his job killing measures, including all regulations he promulgate and Obamacare, there’s not hope at all that any of these jobs will ever come back. In fact, even if everything Obama did is undone, it’s unlikely the lost jobs will come back anyway. Jobs moved offshore will never come back. Jobs replaced by increased automation will never come back. And jobs lost due to firing people and forcing the remaining workers to pick up the slack are unlikely to come back.
There’s a very good chance that Obama has succeeded in permanently destroying robust U.S. economic growth and job creation.