Quote:
Originally posted by Sebring77
. I was distracted by all the workers getting laid off.
I'm not an economist, but I suspect the growth you're seeing is not growth that helps keep food on the average guys table.
Pitting the U.S. labor force against the Chinese indentured servants is like pitting a Hummer against a Yugo in a gas mileage contest. I don't care what you guys say-It's not fair and it will undermine our economy. .
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workers always get laid off and hired in a fluid economy. A contrast to that is socialist Europe, although Gremany has made some changes that will take a few years to flow thru. Their prob is just about everybody is on the dole one way or another and the elected have to worry about getting re-elected.
Bush's hustle of locking in the farm vote cost us about $200 billion thru some kind of Agriculture Bill. The not mentioned result is more selection and cheaper prices at the groceries for the average guy's table, maybe? He could have spent only $5 billion securing the small scale farmer but he was playing election hardball and most people didn't notice. Taking care of the small farmer is a kind of welfare, but I think most people would not have critized it. His lock on the mid-west industrial's vote thru the steel tariffs cost us probably more than $200 billion.
China's effect has to be managed. The real prob possibilities are outsourcing of white collar jobs in case anyone didn't notice. The economic impact of blue collar jobs are relatively small compared to white collar job outsourcing. We're in a situation that has never existed before. Relating to and modeling on the past is a losing strategy imo.
There is nothing fair about economics. It's one economy at war with another economy and the US is playing economic hardball. China is pacified as long as they're creating jobs. I never hear or read about China complaining of having to buy billions of treasuries to finance our mortgages and other spending.
Japan is a distant another story. Mexico screwed up their chances for hugh economic growth, India won't. IMO India will become a US white collar outsourcing depot if the situation is not properly managed. Playing hardball is necessary imo.