Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Despite the understandable human tendency to help others, government spending cannot be a net creator of jobs. Indeed many efforts currently under consideration by the Administration and Congress will actively destroy jobs.
While it is easy to see how a deficit-financed government program can lead to the creation of a specific job, it is much harder to see how other jobs are destroyed by the diversion of capital and resources. It is also difficult to see how the bigger budget deficits sap the economy of vitality, destroying jobs in the process.
In a free market jobs are created by profit seeking businesses with access to capital. Unfortunately Government taxes and regulation diminish profits, and deficit spending and artificially low interest rates inhibit capital formation. As a result unemployment remains high, and will likely continue to rise until policies are reversed.
In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold.
In addition, the added cost of security regulations have forced me to create an offshore brokerage firm to handle foreign accounts that are now too expensive to handle from the United States. Revenue and jobs that would have been created in the U.S. are now being created abroad instead. In addition, I am moving several asset management jobs from Newport Beach, California to Singapore.
I could quote the whole story, but anyone who doesnt understand how government destroys jobs, not create them, wouldnt understand anyways.
Peter Schiff never pulls any punches. I hope the guy becomes an economic advisor to Ron Paul once he becomes POTUS; well, he and Dr. Thomas E. Woods.
Edited to add: Wow, this Dr. Heather Boushey is nothing but a partisan tool. No wonder this is why our country is in such a mess if she is indicative of the quality of Obama's economic advisors.
Last edited by lifelongMOgal; 09-20-2011 at 07:20 PM..
Employment is a voluntary relationship between two parties. The more room the parties have to negotiate and agree on their own terms, the more likely a job will be created. Rules imposed from the top create inefficiencies that limit employment opportunities. Employee benefits are a cost of employment, and high value employees have all the bargaining power they need to extract benefits from employers. They are free to search for the best benefits they can get just as they search for the best wages.
Companies that do not offer benefits will lose employees to companies that do. Just as employees are free to leave companies at will, so too should employers be free to terminate an employee without fear of costly repercussions. Individuals should not gain rights because they are employees, and individuals should not lose rights because they become employers.
Spoken like a true employer who holds the cards in the employer/employee relationship. Employers are precious, employees are a dime-a-dozen. As one who once worked as a warehouseman, a laborer, a factory worker the most valued in those jobs are worth not even a dime to their employer.
Spoken like a true employer who holds the cards in the employer/employee relationship. Employers are precious, employees are a dime-a-dozen. As one who once worked as a warehouseman, a laborer, a factory worker the most valued in those jobs are worth not even a dime to their employer.
Your comment does not match the portion you quoted and highlighted. What about the portion of high value employees having all the barganing power is untrue? A high value employee is going to be the one the competition is trying to hire away. Thus, if they don't like the benefits offered by their current employer they can go to the competition to see if another potential employer has more to offer. Then they can return to their employer to see if they are willing to sweeten the pot or if they will take up the competator for a position.
Similarly, apply that to unions and those with seniority have all the opportunity to available jobs first. They get to pick and choose from union postings before those lower on the totem pole. Union bosses have all the power, not the individual union members.
Not if 'the employers' are all organized and become The Employer as there's no regulation to stop a total vertical and horizontal monopoly, and no minimum wage laws either, as Ron Paul will surely do away with those pesky things when he becomes POTUS, right?
Quote:
"Minimum wage laws & mandating union contracts (closed shop) are designed to help a small segment of workers gain economic advantage while actually hurting unprotected workers. Long term, even the beneficiaries suffer from the unemployment that excessive wage demands bring about. High wages are great, but if there are no jobs they become meaningless. In a free society with free markets, workers should always negotiate for the highest wage, while businesses should always strive for maximum profits. And if left to the market, the consumer will decide which businesses thrive, and wages must go up, not because of coercive legislation but because under the circumstances there would be competition by businesses to seek out the best workers and reward them with the best wages. Coerced union wages and dictated minimum wages grossly distort the market process and contribute to the malinvestment initiated by the Federal Reserve policy and guarantee that in the correction, wages must come down."
Typical. Right wing lemmings taking anything a Wall St fat cat says as the gospel truth.
They worship rich elites in this country hoping they are thrown a bone while the middle class dwindles and the gap between rich and poor is the largest it's been in our Nation's history.
Typical. Right wing lemmings taking anything a Wall St fat cat says as the gospel truth.
They worship rich elites in this country hoping they are thrown a bone while the middle class dwindles and the gap between rich and poor is the largest it's been in our Nation's history.
It's rather funny isn't it? It's the very mob mentality the founding fathers feared. And tried to protect us against
by side stepping any form of direct democracy. The 'uneducated masses', easily swayed against their own self interests.
And the rich fat cats have even convinced these poor peons to dress up as the founding fathers!
Typical. Right wing lemmings taking anything a Wall St fat cat says as the gospel truth.
They worship rich elites in this country hoping they are thrown a bone while the middle class dwindles and the gap between rich and poor is the largest it's been in our Nation's history.
It is obvious you don't know anything about Peter Schiff. Suggest you do your homework instead of showing your backside and ignorance. But then I repeat myself.
After the testimony, I did have a few one-on-one meetings with open-minded Congressmen from both sides of the aisle. Maybe they were just being polite, but they had no obligation to talk to me, or even invite me, in the first place. So, I thank them for the opportunity.
Still, I don't think those few open minds in the Capitol are going to be enough to keep this ship from sinking. There just isn't enough time or a strong enough will for reform from the American people.
That is why it is so important for you to act individually to protect yourself and your family from the new age of stagflation....
Don't know about him, and couldn't give a Schiff anyways. Maybe you should learn to make your own arguments?
Instead of relying on other people to tell you what to think? That is asking a lot though. Nevermind.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
