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At this point I think the whole economy needs to be restructured. A service economy can just not work. If I had my way we would be doing what ever we could to promote manufacturing. I would make the Chinese open their market and stop manipulating their currency and then I would give tax incentives to companies that keep their factories in the USA. America is the only major country without a manufacturing policy. The bubbles of the last 20years diverted a huge amount of capital from the manufacturing sector.
After American manufacturers has an equal chance to compete I would begin investing in energy. Renewable, Nuclear and Fossil Fuel. We need all three. The cheaper you make energy the more money people will have to pump into the economy. The more energy you create here the less money goes overseas. Both Republican and Democrat’s economic plan was based on energy. But why? America doesn’t have enough cheap oil to sustain it’s standard of living. So “Drill Baby, Drill!” won’t work. Renewable sources are just now becoming economically feasible and require a huge amount of investments. If we develop renewable sources before we fix manufacturing then most of the high paying jobs will go overseas anyway. Plus the manufacturing sector is a lot bigger then the energy sector.
At this point I think the whole economy needs to be restructured. A service economy can just not work. If I had my way we would be doing what ever we could to promote manufacturing. I would make the Chinese open their market and stop manipulating their currency and then I would give tax incentives to companies that keep their factories in the USA. America is the only major country without a manufacturing policy. The bubbles of the last 20years diverted a huge amount of capital from the manufacturing sector.
After American manufacturers has an equal chance to compete I would begin investing in energy. Renewable, Nuclear and Fossil Fuel. We need all three. The cheaper you make energy the more money people will have to pump into the economy. The more energy you create here the less money goes overseas. Both Republican and Democrat’s economic plan was based on energy. But why? America doesn’t have enough cheap oil to sustain it’s standard of living. So “Drill Baby, Drill!” won’t work. Renewable sources are just now becoming economically feasible and require a huge amount of investments. If we develop renewable sources before we fix manufacturing then most of the high paying jobs will go overseas anyway. Plus the manufacturing sector is a lot bigger then the energy sector.
What would you do to fix the nation’s economy?
I have a question for you on the above. Not argumentative, just trying to learn.
Bring manufacturing back to the US. How do you propose that America with it's labor laws, EPA restrictions, so on and so forth, and union demands, compete?
You have factory workers in other nations, they make a mere pittance of what a factory worker demands in this country. How is a manufacturing base, for employment, ever going to be a viable option, ever again, in this country?
Bascailly we need to invest in renewable but that is not going to bring the economy or produce any of the energy we need in the near future. We shouold never have abandoned nuclear when we did as france now poroduces 70% of her electric needs with it. We need to stop importing so much crude as its draining the economy;that means drilling. The main alteranate how to take advanatge of is natural gas for vehicle( large commerical and buses etc for now). Then we need to put incentive for clean coal which we have so much of. Otherwise we are going to keep shipping jobs and money overseas by the ship load, Its always good to remmeber that no alternative produces even 1% of our energy needs now and the closest to 1% is wood.We need to be p[ractical while buiding for the future. Even if alternative could come quicker they would be very expensive compared to what we now use.If we are going to invest i amnufatureng it should be hiugh tech not things we can not compete that are screwdriver manufacturing. That had been dying for years and government subsidises just won't help with our high cost really.We also have to realise that China is the coming market as well as India;nott eh USA and make things they can't but want.
Well shoot. Why can't we just work on kicking China and India off the oil habit so that way there will be more for us?
Signed,
GM
Now that's a plan!
Quote:
Originally Posted by ddmhughes
At this point I think the whole economy needs to be restructured.
This is one of the root causes for the failure of any economy. The other is the lack of rules and laws that govern the financial markets such as we have today.
The truth is that unless governed by rigid laws of fairness capitalism ,and free markets, can become total anarchy in the pursuit of pure profits. That said, the President (no matter who he/she is) will be vilified for calling the financial community ,along with the manufacturing community, to account to take care of Americans first and fairly. Kinda like a kid caught with his/her hand in the cookie jar they throw a fit and hate the person who caught them.
Agree w/ investing in manufacturing and new technologies.....
The United States fiscal year which ended on Sept 30. showed a net loss of $1,400,000,000,000.00 !!!! This is three times the highest amount it has ever been. Imagine running an organization like the govt. where you know that, going into fiscal year, you are going to be short 1.4 trillion....
First, we do not have a free market and are not a true capitalist society. Prices are manipulated by the government and rates are controlled by the Federal Reserve which caused this whole mess. We already have strict laws to regulate the economy and that didn't work. Even the SEC was expanded substantially after the Enron debacle and they still did nothing regarding Madoff before it was too late.
Congressmen passed many laws and restrictions causing the private sector to make horrible decisions and loan money out that blew up in their face. The same fools who caused the problems are the same ones that are trying to fix them. Then you bail out the same companies who had a horrible business plan and were in bed with the politicians. Let bad businesses fail instead of being stuck with the same bad businesses. No more subsidies or favoratims towards any companies or any group. Inflation is out of control do the the constant printing press that the Treasury thinks it can sweep things under the rug. This country has a debt we will probably never get out of and they keep putting a band aid on problems and creating financial bubbles, housing bubbles, etc.
So get rid of the Federal Reserve and all those anti-business and high tax laws, balance the budget (not by using the government accounting that would get any normal person thrown into jail), and create a country of savers not spenders. No more pork or pet projects for politicians. Let people decide where the economy is going by allowing them a free market and not a government that pushes the people towards what they want or think is right.
First, we do not have a free market and are not a true capitalist society. Prices are manipulated by the government and rates are controlled by the Federal Reserve which caused this whole mess. We already have strict laws to regulate the economy and that didn't work. Even the SEC was expanded substantially after the Enron debacle and they still did nothing regarding Madoff before it was too late.
The laws you refer to were overturned during the Bush presidency. At the present time there really are no laws to control the banking industry.
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