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Originally Posted by Paul T
Absolutely right….we never stood a chance to compete on labor costs. Crazy thing is, everyone could see this coming 40 yrs ago, but here we are. Now the consumer is addicted to cheap, replaceable goods and we will never go back. Everything is a commodity. It’s all a numbers game these days, the product hardly matters. There is no pride in “building” something, just make some quick $$ and get out.
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eh, everyone is doom and gloom about outsourcing, but that was the 90s. we are 30 years past outsourcing. this might still be a problem with like lots of hand handled things, like clothes production, but outside of those specific instances, its not cheaper to make things overseas when you look at the quality issues, and the amount of overhead and double checking you need to do in order to insure quality.
you know, all the stuff boeing doesnt do.
so for high tech stuff, its not cheaper because of labor costs to do things overseas. thats why we are seeing so much more insourcing.
we are way past outsourcing, what has happened to boeing, is just the tip of ice berg in terms of corporate rot, american companies being sold out, hollowed out, and destroyed, for quarterly profits. companies that took generations to build. they only take a few years to destroy. rise and repeat.
until we decide that the economy is for people, not money, we are going to have this issue. we always talk about job creation, but the purpose of capital is to destroy jobs. until we figure out that our economy is so biased in favor of capital, and against value creation through labor ... this will continue to happen. like how we biased the entire market in favor of capital in the last 3 generations, we need to undo that, and instead bias value producing labor over that.
the biggest thing that we need to do: make stock buy backs illegal. its absurd they were ever legal in the first place.