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And hopefully we get better at it and do more of it. Outsourcing is what made this nation so great. It's what made us an economic superpower.
To me outsourcing is one of the tools that has been used to enhance earnings for the upper class at the expense of the middle class. I consider the great consumer class (middle class) to be the economic engine of our nation. What does outsourcing (offshoring?) do to benefit the middle class when it in fact depresses wages?
Or something even worse than what happened in 07/08?
Yes, there's a recession coming. It's probably already here. At this point, it's more of a worldwide problem and the US may survive the worst of it, as the dollar is still the world's reserve currency and the powers that be will do anything to keep it that way. Another war?? Don't ever think that politics and economics aren't connected.
Basically, the world's financial system is mired in debt and broken. Since around 2008, the central banks of the world have managed to kick the can down the road with money printing and low interest rates. The US, China, Japan, Europe, etc. They all did the same thing. They all printed money. That didn't solve anything, though. It just postponed the day of reckoning. And now, we have worldwide overcapacity, especially in China, too much debt affecting everyone from consumers to manufacturers to governments, and, to top it all off, currency problems for all the countries and corporations who havre debt denominated in US dollars.
Yesterday I saw gas at around $1.65. That should tell you something.
You need to pay even closer attention because it hasn't ended yet.
If you think it didn't end, then you will think we are always in a recession. Until it's 2080 and you look back at 2015 and realize we weren't.
OP, my opinion is no.
And just as an FYI, most people here in the Work & Emp section will say things look bleak. For better prospective on this question, I would consult with the Economics section, Investment to be more specific.
Yes if we introduce robotics the way several posters on here mentioned. They never speak of the ill effects that will come from it when enough comes to many companies doing it and not enough people hiring the displaced and seeing more and more inventory not bought.
To me outsourcing is one of the tools that has been used to enhance earnings for the upper class at the expense of the middle class. I consider the great consumer class (middle class) to be the economic engine of our nation. What does outsourcing (offshoring?) do to benefit the middle class when it in fact depresses wages?
Not about offshoring but there's real value for the middleclass with oursourcing.
Outsourcing encourages continued training because in this model the employees at the firm the work is outsourced to becomes the product. Companies will continue to invest in their product.
Trained people actually have more value on the market, so it actually increases wages.
Outsourcing is much more efficient as it's most more cost effective to outsource work to an external firm than it is to hire and train individuals on your own. Especially when the work is not directly related to the company's product or service.
We used outsourcing to become a superpower during the industrial age.
I think the fed is committed to keeping it going, not that they will succeed however. The fedwill do QE 4 to try to keep this going. Every subsequent QE is going to be less "effective" and put us in a deeper hole in the long run. Maybe QE 4 won't even be able to keep the party going.
They are out of ammo at this point. If they tried more of the same, the Fed would lose credibility.
If we were to have another lingering recession, more QE wouldn't surprise me though.
I'm surprised no one has mentioned the roaring US dollar. It's been kicking butt, although it's definitely having a negative effect on corporate profits, and perhaps the economy as a whole. I wouldn't be surprised if we see a currency and/or trade war in the near future.
Quote:
Originally Posted by mkpunk
Yes if we introduce robotics the way several posters on here mentioned. They never speak of the ill effects that will come from it when enough comes to many companies doing it and not enough people hiring the displaced and seeing more and more inventory not bought.
They already have plenty of robots in service. In many cases, they are literally doing jobs that Americans don't want to do. And we sure as hell don't need to be importing anymore cheap labor from south of the border, or elsewhere. Time to worry about and take care of our own.
the great recession was a black swan event. Fisher is the real power of the fed. Yellen is merely a figure head. It is an election year so do not be surprised what the Fed does.
To me outsourcing is one of the tools that has been used to enhance earnings for the upper class at the expense of the middle class. I consider the great consumer class (middle class) to be the economic engine of our nation. What does outsourcing (offshoring?) do to benefit the middle class when it in fact depresses wages?
It is actually our own policies by both parties that have caused this. Nafta did nothing for American Jobs
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