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In my opinion what's holding back the economy, in spite of the huge amount of monetary stimulus, is the regulatory overhang. The Obama administration has introduced Obamacare. Add to that environmental mandates and pressure to raise wages, and many companies figure China and Pakistan look awfully good.
Corporations love undeveloped nations because of cheap labor.
They used the free money that the Fed stole from the middle class to build factories wherever they could find slave labor.
The middle class was forced to fund the decimation of their own jobs and the U.S. funded the destruction of their own manufacturing infrastructure.
I don't know. In case of some emergency, exactly who is going to manufacture basic needs for our nation? This isn't the mighty economic power that my parent's and my generation help to build. It's a nation of stock boys for China and a nation of Parasites on Wall Street.
let me tell you without cheap over seas labor 130 employees right here in long island and ohio would be unemployed at my old company .
it was the cheap overseas labor that let us be competitive in the market place and win bids creating jobs here . .
we couldn't compete trying to make the castings here for our pumps . but using the cnc machines in a chinese factory to make the parts made us competitive again .
to the point we needed to hire 130 people to do new designs , assembly and qc testing right here in long island and ohio .
we are now cranking out world class products at prices that are quite competitive and 130 people are earning very nice incomes because we are still in business and growing . we went from a 6 million dollar company when i went on board 18 years ago to almost 100 million today .
that 100 million in business is feeding the families of lots of vendors and sales people we buy from .
once again you want to blame and point fingers without going any farther then looking beyond your own nose .
Last edited by mathjak107; 01-31-2016 at 02:31 PM..
let me tell you without cheap over seas labor 130 employees right here in long island and ohio would be unemployed at my old company .
it was the cheap overseas labor that let us be competitive in the market place and in bids .
we couldn't compete trying to make the castings here for our pumps . but using the cnc machines in a chinese factory to make the parts made us competitive again .
to the point we needed to hire 130 people to do new designs , assembly and qc testing right here in long island and ohio .
we are now cranking out world class products at prices that are quite competitive and 130 people are earning very nice incomes because we are still in business and growing . we went from a 6 million dollar company when i went on board 18 years ago to almost 100 million today .
Good for the fine lads in Ohio. 130 jobs gained while millions of living wage jobs lost. Seems like there is a running thread in the way you think.
well it could have been millions plus another 130 , self included .
what you fail to realize is the world is globally linked and any company not competitive today is history .
each country excels at doing something better and more efficient then anyone else and as consumers we benefit from world class goods at competitive prices increasing our living standards .
you can't artificially prop up company's or country's that are not competitive globally . you are living and thinking in the past .
the world does not stop when one country loses the edge regardless of who it is or what they do . heck i still remember the crap detroit sold me before the japanese produced a far better product and forced us to turn out better cars . had it not been for foreign made cars we would still be driving that old detroit crap ..
so we may not make a lot of things here anymore but we sure as heck design them here because designing is what we do best . in fact we do a lot of things better then anyone else .
when all those miners in chile were trapped the world came right here to Pittsburgh . we designed and manufactured those giant bits that got those miners out . no one else in the world could do what we did .
country's have to switch gears today and do what they excell at or find new things they can excel at . this aint the world you used to live in .
you can't artificially prop up company's or country's that are not competitive globally . you are living and thinking in the past .
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You can't artificially prop up a company but apparently you are quite comfortable with artificially destroying 1000s.
In general you seem to be quite comfortable with the evisceration of our middle class, our manufacturing industry, and our children's future. What the heck, it's all about the stock market anyway.
no it isn't all about the stock market . it is about all of us getting greater value for our hard earned dollars with better , more competitive world class products that stretch our dollars farther then ever and continue to elevate the lifestyles and living standards . . it is about the fact this is a global specialized world and each country does something better then the rest and we all benefit .
hey like we tell you , you want to blame and complain , knock yourself out but your complaints do not help you in the least or even guarantee you that your savings will not be eaten up by inflation .
no it isn't all about the stock market . it is about all of us getting greater value for our hard earned dollars with better , more competitive world class products that stretch our dollars farther then ever and continue to elevate the lifestyles and living standards . . it is about the fact this is a global specialized world and each country does something better then the rest and we all benefit
Like the junk from China?
The Fed gave trillions of dollars of free money to corporations for capital investment and they sure did that. Only they did it in Asia, Africa, South America and whereever they could find famished people who will work for nothing. Billionaires are that kind of sweet people. Meanwhile they did what they always wanted to do, destroy the middle class because they demanded a living wage for building the country that we live in. The audacity. In its place they built huge warehouses in the desert for our children to work in pushing around stuff made in China for delivery. A bright future for our children indeed.
junk is junk no matter where it comes from even from america .
but china has excellent factory's with state of the art cnc machines that can crank out world class products like nikon lenses and cameras as only 1 example .
just like we make crappy low end products here so do they but don't confuse the best of breed products they turn out for major manufacturers here with the low end crap every country sells . .
if it was up to you and your thinking detroit would still be passing off the crap they tried to sell us as cars made by over paid auto workers who should have been fired .
In truth the west failed to learn from the 2008 crash. Any economic ‘recovery’ was built on asset bubbles
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The truth is that there has never been a real recovery from the 2008 crisis in North America and western Europe.
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To make things worse, much of the recovery has been driven by asset market bubbles, blown up by the injection of cash into the financial market through quantitative easing. These asset bubbles have been most dramatic in the US and UK. They were already at an unprecedented level in 2013 and 2014, but scaled new heights in 2015.
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Thus seen, the main causes of the current economic turmoil lie firmly in the rich nations – especially in the finance-driven US and UK. Having refused to fundamentally restructure their economies after 2008, the only way they could generate any sort of recovery was with another set of asset bubbles. Their governments and financial sectors talked up anaemic recovery as an impressive comeback, propagating the myth that huge bubbles are a measure of economic health.
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