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Millions of jobs lost, esp good ones, aren't coming back, ever.
Corporate mgmt will continue to engineer high-cost Americans (and their health coverage) out of their businesses to be replaced by low-cost Asians, or not at all.
The Scariest Jobs Chart Ever
Calculated Risk has updated his chart showing job losses as a percent of peak employment since WW2. Needless to say, it's not encouraging.
The last time employment fell this much, in 1948, it recovered quickly. The recent recoveries, however, have been much more gradual. Unless employment rebounds rapidly (it's still falling), it's hard to see how we're going to get the v-shaped recovery that the bulls are now expecting.
(In 1948, consumers had almost do debt. Now they have it coming out of their ears).
The unemployment rate, meanwhile, is now the highest it has been in 26 years.
Millions of jobs lost, esp good ones, aren't coming back, ever.
Corporate mgmt will continue to engineer high-cost Americans (and their health coverage) out of their businesses to be replaced by low-cost Asians, or not at all.
Will, if you're talking about manufacturing yeah. It's been going on for decades now.
1. in America you don't have to stuff factories full of people to make things like Asia does.
2. The Bankers are raping us all the way to their bank with our own money. The Stock market is such a joke right now. Just wait till your pension fund blows up.
Right, because all the factories that did that moved to Asia.
That's what over taxation of corporations do in a global economy.
All of you who believe corporation pay too little are to blame.
What do you expect? Dubya kept putting this economic correction off with every trick in the handbook...finally the whole thing collapsed like a house of cards....
We disagree with the cause. I will maintain it was leftist pundits saying how bad the economy was since 2006, even though it was good. The sentiment of the economy does have a profound effect on the future. The housing bubble would have popped at some point anyway. There wasn't enough political willpower to do what was right when it was seen as a problem, and it was democrats stalling the fixes. Not president Bush or republicans. Still, I believe if the demonrats and demoncraps didn't scare the public, the housing bubble would have been no bigger than the tech bubble.
I don't care what you say. I blame the liberals.
What the ? You know, it's one thing to support a point of view and it's quite another to be a partisan hack,
I'm not a partisan hack because I really believe that.
Because you really believe that, you are a partisan hack.
Corporate greed and malfeasance plus political quiescence (even before 2006) to the debt/derivatives bubble, caused the crash and the ensuing panic. Putting it all on one party or media "bad talking" is either obtuse or intellectually dishonest.
Take your pick.
Well, in my view, a partisan hack hays anything for the party, even if they might not agree with what they say.
I agree as parties, but are to blame. There were some republicans trying to stop it when the early warning signs were there. They didn't have enough support from their own party, and none from the democrats.
If you own a business, especially if you've owned business's for over 30 yrs...you have a pretty good idea what's going on here.
Tho, I find it more interesting to hear what other's percieve as the causes and effect's. It's disheartening and sad to see it...but, it is interesting.
I've been watching the dismantling of American business since the 60's. I finally realized it was unstoppable back during Carter's, or Reagan's administration...when Govt job creation finally overtook manufacturing job creation. It didn't take much then to figure out where things were heading. It was inevitable. The only thing left to see was...who would blame who, and the political posturing of such events.
That, unfortunately...has been just as predictable.
Most kids coming out of high school, have absolutely no education regarding Business, the history of business, the interrelationship between business and govt, how free markets and capitalism works, etc. Outside of Robber Barons, sweat shops...and maybe Ford's assembly line practices...kids are more ignorant of business than calculus. Govt controlled schools, for some reason, thought it was a "conflict of interest" to teach business in schools.
That, in and of itself...speaks volumes of why we're in the situtation we are in today. Why so many kids come out of our school system, so anti business, free markets, etc. Ignorance breeds fear.
Shame, because the business of this country...was business.
SIG
Last edited by SouthernFried; 09-09-2009 at 08:24 AM.
If the Left would just change their rhetoric from "big business is evil" to "big banks are evil" I'd be all on board.
Sadly, they all have this irrational hatred of Walmart.
The business of the America is business sucking the wealth out of it citizens and its natural resources.
Now business has figured out, with a strong dollar policy (Robert Rubin) that prices US workers out of the market and offshores workers and production, how to enrich mgmt and shareholders with the fewest workers possible.
A nice case in point worth watching....
http://www.washingtonpost.com/wp-dyn...090800233.html
As Cheaper Chinese Tires Roll In,
Obama Faces an Early Trade Test
The Washington Post
ALBANY, Ga. -- At the vast Cooper Tire plant here, workers heard for years about their rivals in Chinese factories.
In meetings, managers urged employees to run production lines faster and more efficiently to help the company keep up. Overseas laborers were toiling for as little as 20 cents an hour, they were told, and working harder.
Even more ominously, while browsing the aisles of Kmart and Wal-Mart, Cooper employees could see that, sure enough, the Chinese tires were cheapest.
"They would have these meetings and say we're up against the Chinese," said Larry Burkes, 29, who worked at the plant, which rises on the city's outskirts just beyond a mobile-home park. "We'd hear it all the time: 'They work for less.' There was pressure."
Now the plant that employed 2,100 people in this small south Georgia city is being shut down, and the troubles afflicting the U.S. tire industry are at the core of what many consider to be one of President Obama's first major decisions on trade policy.
By Sept. 17, Obama must decide whether to slap a 55 percent tariff on tires imported from China, as recommended by a federal trade panel, or leave the matter alone, as a phalanx of lobbyists representing manufacturers in China and U.S. companies that import from them are urging......
The time for "tariffs" is over.
It would have been useful in the 60's. When America was the largest producer of electronics in the world. Japan, as a govt strategy, supported business "dumping" (i.e., below cost) electronics into the US market. Tariffs should have been used vigorously to protect american business from this attack. We didn't, and by the mid-70's, we basically had lost the entire market. We produced all the TV's in the 60's...we have no TV producers at all today. Same with computer's in the 80's....when people were saying "we don't need to build low tech, we build high tech!" ...we've lost most of that too, this time to China.
Tariffs would have worked when we still had the production capabilities and were under attack from other countries. Not just the "business's" in other countries...but their respective govts who subsidized those business for the intent purpose of taking them.
Tariffs would have worked. It would have protected American biz from these attacks, and we were the largest market for those products. If they wanted to sell those products, they had to sell them here. They could impose their own tariffs all they wanted...but, they didn't, and still don't buy squat from us. They had to sell to us.
Now, if we impose tariffs, we just increase the price of the products we use. We don't have the manufacturing anymore to build and produce ourselves. We are an 86% service economy today.
All of this was not hard to foresee.
Where we go from here...is also predictable.
When was the last time you bought something that said..."made in England, France, or Canada?"
Those that wanted so much to be like those countries...are going to get their wish.
SIG
If we just taxed consumption rather than productivity, we would be able to compete in the global economy. As it stands, we will continue to lose jobs to the outside.
"taxed consumption"
... horribly regressive, but you don't care.
Wouldn't you love not paying business taxes?
When we tax production, the cost of products are higher than if we didn't. We would be better off to compete in the global market if we could sell for cheaper. All other first world nations tax consumption. That means our products in trade get taxed twice. Many do not tax production, especially on their exports. That means products coming to us are effectively not taxed.
Let's see now. If I have a product made with built in double taxes on it vs. one with no taxes, which is cheaper with all other things equal?
Now labor costs are cheaper in so many places we buy from. Add that to no production tax, and we get cheap items from china and elsewhere. We cannot compete that way. Many products have huge shipping costs, but that depends primarily of the weight vs. cost.
It's not something that will solve all trade problems, but it will help balance them. We shift the tax burden from production to consumption. US made products will remain about the same cost to us, imports will be more expensive than they currently are, and our exports will be cheaper for other nations to buy.
It's nothing but a win-win for us.
Other countries do everything wrong in WC's eyes... except they are geniuses when it comes to attracting business.
If you don't want to pay taxes, move your little company to Asia. You not only wouldn't have to worry about paying taxes, you could hire some really cheap labor. Win, win, for you. What's keeping you here?
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