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The jobs here are lost and replaced by nothing. Americans became a nation of salesmen (real estate, used cars, etc) and contractors (with nothing to build). Oh I forgot and greedy paper pushers. Globalized labor market with no growth (like now) translates to unemployment everywhere.
Indeed...
it amazes me that there are people in America who want our currency to drop in value -- to the point that we swap roles with a 3rd world country
Outsourcing has been going on for years. It has nothing to do with the current economic down turn.
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Americans became a nation of salesmen (real estate, used cars, etc) and contractors (with nothing to build).
This was due to the real estate bubble which resulted in misallocation of capital. The real-estate industry became over-capitalized because of bubble valuations. Because all resources are scarce, this ultimately sucks resources out of more productive activity, while non-productive industry becomes increasingly bloated.
The outsourcing has more to do with cost cutting and restructuring in the tech industry that was neglected while the real estate industry was getting drunk on excess capital.
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Oh I forgot and greedy paper pushers. Globalized labor market with no growth (like now) translates to unemployment everywhere.
There was a time when every investment banker wanted to be the next pets.com CEO. Then there was a time when every programmer secretly desired to be an investment banker. Both of these reflected unhealthy manias. The misallocation of resources and resulting bubble and subsequent stagnation has more to do with bubbles than it does globalization.
it amazes me that there are people in America who want our currency to drop in value -- to the point that we swap roles with a 3rd world country
The value of our currency only matters if you care about access to cheap imports that are made in "a 3rd world country", but if you want to buy those cheap imports, you need to "ship American jobs overseas". If you would advocate instead to move the production of those cheap imports to the US, then you are suggesting that "we swap roles with a 3rd world country".
Outsourcing has been going on for years. It has nothing to do with the current economic down turn.
Sure. The problem is that NOW these jobs cannot be replaced. Besides this kind of erosion has been going on for years.
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Originally Posted by elflord1973
This was due to the real estate bubble which resulted in misallocation of capital. The misallocation of resources and resulting bubble and subsequent stagnation has more to do with bubbles than it does globalization.
People still live in denial. The game is over. Who gave the right to capital to be allocated wherever it wants? Globalization. Capital would never be allocated here on production because there is no profit, the only way this economy could grow was consuming, re and credit, ie a bubble.
Last edited by halfoffpeak; 03-31-2009 at 10:47 PM..
it amazes me that there are people in America who want our currency to drop in value -- to the point that we swap roles with a 3rd world country
Some people care about the long term more than the short term, they can see that you can't put off the inevitable forever. "No pain, no gain" as they say in fitness. The US currency dropping in value will suck, but it has to happen because it is currently overvalued. It will be a painful time, but at least when it's over Americans will be better off (you can't live off the generosity of others forever, at some point you have to pull your own weight - that point for the US is getting closer).
in Germany they have Universal health care, Universal education, and many other Socialized services, things the lunatic Republicans and U.S. Media calls Socialism… so, in effect, German Auto makers, all German companies, and people, are getting 10 times the so-called bailout money given to U.S. Auto makers, or the $800bil Stimulus spending by the U.S. this year, every year.
that is why the German Auto makers (and their nation) is not in need of these bullsh1t U.S. style bailouts and one time stimulus packages, because the Government in Germany makes such investment in its people on a regular basis. for example, on top of the fact that in Germany they have such Socialized services as Universal health care, Universal education (which is equivalent to $20,000 in so-called stimulus payment to a family of 4) in Germany PER YEAR, their Government takes steps on regular basis to help the Middle class, which ultimately is the best way to help businesses, since the KEY to strength of an economy is not that a country has a few Billionaires (as is the case in U.S., Saudi Arabia, and some other 3rd world countries), but it is how well the Middle class is doing.
another example in Germany – their Government has, for some time, been paying each person 3000 Euro's who trades in an old car and buys a new car, which has resulted in Auto sales being up like 22% year to date in Germany, while in the U.S. where the Government is not offering such incentives, because it would be called "Socialism" by Lunatic Republicans and our right-wing Media... result ? auto sales are down like 25% YTD.
for the sake of this post not getting much longer, you can read much more here:
so you see, exactly because 20% of the economy in Germany, well all European countries, is operated on a Socialized basis, is why they did not have the economic crisis that U.S. has had, as a result of which the other 80% of their Capitalist economies are doing quite fine and they have no need for these silly one time bailouts & stimulus as the U.S. has had. all of which (facts) proves what lunatic Republicans are for (by being against Universal health care and other Socialized services that they have in European countries), and how right-wing the entire U.S. Media really is, and how Democrats too are for not stating the FACT that European economies are doing much better than the U.S. economy because of the above -- that is because they have Universal health care, Universal education, and many other Socialized services.
gee yet another tid bit that kind of blows your theory
In Europe, things are tough all over
March 31: As more companies cut spending and jobs to weather the global slump, Europe's economy is grappling with the worst recession since World War II. NBC's Jim Maceda reports
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