Posted on 05/29/2012 12:26:02 PM PDT by Theoria
There is an old adage. “Whats good for business is good for America.”Its simply not true. Sure there are plenty of reasons why companies move offshore but that does not make the statement any less false. Whats good for business is good for business and will remain so until we get unions under control and the government less involved in private enterprise.
I agree on the Gov’t, but we are experiencing record low union membership. Unions are dying.
Bank America paid back their TARP they were forced to take- with interest
They are free to do business in the most economical way they can, to benefit their stockholders and customers
There may be fewer BoA bank clerks in the US but there will be more customer and stockholder wealth to spread into other opportunities
Capitalism is a grand thing - if we stop letting obamite liberals poison us to it
I wander how many commies at MoJo buy American?
Instead of tax incentives for targeted enterprises, how about lower taxes on business (the U.S. currently is the highest in the world) and getting rid of the minimum wage. Boom. Jobs.
Sure, we should have let them fail. We didn't.
BoA was not failing (even though some of our present stalwart govt officials and their Goldman Sachs etc cronies were among the weasels who bamboozled Ken Lewis into taking on Merrill Lynch)
BoA was among the banks forced to take TARP money to disguise who was REALLY failing
Ken Lewis vowed to raise the funds to pay it back before he was forced out- and he did- despite obstacles the govt used to try and prevent TARP paybacks (obama can’ pwn a bank if if they didn’t owe the money)
Yup. Under capitalism there is no TBTF.
I will say A: not fast enough and B: too many times one reads an article where unions agree to cuts in labor force to save compensation package. They have helped kill themselves off. Make no mistake the union leaders don’t care how many workers they have only how many vote to keep them at the head of the union.
As the world economies continue to tank. The siren call of protectionism will echo through the crowds.
nothing but Mother Jones predictably pushing Obama to take a populist run at the banks
“The siren call of protectionism will echo through the crowds.”
The crowds will be thinner; many Americans aren’t breeding as our economy reaches European levels of instability.
“where the average family makes $4,700 a year”
The customers and stockholders are increasingly foreigners as well; the American customers get threatened with $5 MAC card fees to further impoverish them.
Anyone who thought outsourcing to Third World countries would help the US in the long run is delusional. At least the call centers are closer to where B of A will actually have customers (Red China), while Americans are scrounging for wheat pennies and such to buy groceries.
We have built Asia while destroying ourselves.
They are free to do business in the most economical way they can, to benefit their stockholders and customers
There may be fewer BoA bank clerks in the US but there will be more customer and stockholder wealth to spread into other opportunities
Capitalism is a grand thing - if we stop letting obamite liberals poison us to it
I agree with what you’ve said. But if the high paying jobs all leave the U.S. then there will not be the money here to buy these companies products. You could say that would be an example of poor long-range business planning.
In the end it leaves a much poorer world economy. You can’t bring everyone up to a high standard of living by knocking down the ones that already are there.
Jobs overseas create wealth for America.
They create wealth that enables people overseas to buy American goods and services...that boosts the value of our companies and their stock.
Of course we have to compete globally with China, India, South Korea and the like.
So..?
Protectionism is a failed idea. Ask the former American steel workers.
Do you think many US investors and pension funds own stock in BoA? If this boosts BoA bottom line it boosts every owner and investor. If not, then they vote out the BoA management or pull their money and invest elsewhere.
To what union do BoA employees belong?
American taxpayers are on the hook for providing a navy to protect those foreign assets. Shouldn't China or the Philippines float their own navies and fly their own airforces to protect BoA operations in Manilla?
Since Japan, China, Taiwan, the Philippines, Vietnam and S. Korea are our friends, we don't need both the 5th and 7th fleets there anymore. We can send the 5th home and park the 7th in the Sea of Japan off the nork coast.
Come to think of it, exactly what are we "defending" in the M.E.? Is it private property. Are taxpayer dollars being used to defend private property on foreign soil? Shouldn't the free market mavens who enjoy the profits gained on foreign soil just let the local governments protect them?
The day I don't have to spend one nickel to protect a privately own ship at an overseas port from pirates you can talk about "protectionism" but right now the argument falls flat. Right now we're subsidizing foreign operations.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.