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I believe the US is approximately 340 million people, approximately 104 households, and even those in "relative" poverty have a lot of stuff. Notice I was specific to consumer goods. Now look at just China and India, over a billion people each, with an increase of 69% in wages just from 2005 to 2009. China is now the largest automobile market in the world. So if I am a producer of consumer goods, I would want to be competitive in those huge markets, especially because it is not all replacement.
Now think of all the problems of returning to the US. Carl's Jr, a CA fast food provider, said that they weren't building in CA because it took years to get the permits and hundreds of thousands of dollars to build one resturant. What would a factory cost? I also think, pool of manufacturing management, supervision, and industrial engineers is shrinking.
Here is another example. There was a movement of furniture manufacturers moving back to the US because of problems with supervision in Mexico. CA didn't like that, so it banned oil based finishes. Back to Mexico.
Wmstoll, you can "arm-chair" quarterback on this site all day, or you can become involved and make a difference. Where did you get the information the US market is "small and primarily replacement"? Before you can be a player in the developing markets, you need to be successful in your own market. And by successful I mean a manufactuer who meets customer needs. Not a broker or importer who simply moves products from one off shore market to another off shore developing market.
Only if manufacturing can be globally competitive, especially for consumer goods. The US market is small and primarily replacement. The developing markets offer huge markets, and first time buyers.
I believe these corporations report all their profit, but the foreign profit has to stay off shore and be invested there. I noticed that Germany doesn't tax this profit, so BMW of America sends their profit back to Germany.
It appears to me, that there wouldn't have been a Citizens United, if corporate media had not shown Fahrenheit 911 before an election. When Citizens United were blocked from showing their documentary, they pointed to showing of Fahrenheit 911 as a precident. They were advised, that a large media corporation like GE, could use its subsidiary NBC, to show a political documentary as close to an election as desired, but they could not. Obiously there is a fairness problem here.
If these kinds of comments are on Yahoo news, then good for them.
I agree that there are a lot of Democrats who don't deserve respect, but we were talking about the office of the President of the United States, not just the man currently occupying the office. While I didn't respect George W Bush, I respected the office he held, which is the point. Since the Republicans, and apparently David J. Cyr don't seem to respect neither President obama or the office he holds, it speaks volumes about where this country is headed. If any of you would like to learn more about what the true Republican agenda is I just viewed a documentary called CASINO JACK THE UNITED STATES OF MONEY. It is about Jack Abramhoff who was a lobbyist in DC and the documentary spans back 30 to 40 years through not only his career, but of the college Republicans. Thom hasn't mentioned this one yet, but of all the ones I've recently watched, this scared the hell out of me if Republicans take over the office in 2012.
I blame the republicans who are the lapdogs of business and banking. Business/banks have plenty of cash on hand, have been making record profits with fewer and fewer workers, less and less overhead, fewer and fewer regulations and taxes, and OUR stimulus dollars. Business can hire if it wants to, which will put spending money into the hands of workers/consumers which will filter back to business and get the economy moving again.
The financial talking heads on the morning shows say that business is waiting for the housing market to open up. People CANNOT BUY A HOUSE unless they HAVE A JOB, INCOME, and can GET A LOAN: all things that are not possible until BUSINESS BEGINS HIRING AND BANKS ISSUE LOANS. The people WITH ALL THE MONEY have to release it. We peasants cannot grow money trees in our backyards,
I say that jobs will magically reappear if a republican--gag reflex--is elected. Business/banks want to make sure that "friendlies" are in charge so and they can continue to choke-off the middle class, which is counter-intuitive for future business/bank profits.
I say we need a class revolution and to institute campaign finance reform. We will NEVER wrest back peacefully our democracy as long as money is an influence in our elections and our government. This will begin with impeachment of the corporate-5 Supreme Court justices who gave us the nonsensical, unConstitutional, biased, and idiotic Ciitzen's United decision.
Anyone really interested in bringing manufacturing "back home" needs to become involved with The Reshoring Initiative. It's founder, Harry Moser, believes Reshoring could bring unemployment from 9 down to 4 percent. For more information, check out this website, and get involved.
http://www.reshorenow.org/
Wmstoll, First of all I'll admit I just got home from a fine night of drinkin and dancin, and Ron Wood music is keeping me awake and happy,,,,,, but I'll try to do my best to respond.
Consumption drives imports only because we have domestic unfriendly trade laws which have lead to a high unemployment rate as well as an absurd concentration of ugly wealth which has ended up in the hands of a few souls who are doomed to swim endlessly in a lake of fire.......non-religious meaning intended...... only expressing my anger!
Loss of certainty and confidence can be attributed to the big trickle down lie.
Of course consumption creates investment, why would it not?
Speaking of interest rates I remember getting something like 16% on my CD's in the early 80's..... last time the economy was like this. Odd they say we do not have inflation, go buy gas or food or look at your recent property tax bill, how about your health insurance premium.....no inflation there, right? Who needs a pay raise or tax break anyway? Oh thats right the top 2% need it, just ask the republicans.
Palindromedary, Wish I could write as well as you, but try to bare with me anyway. I agree Obama has been weak standing up to the idiots who dare call themselves U.S. citizens but can a third party candidate win? I voted for Nader way the hell back and still get flack from friends blaming Gore's loss on people like me, even though he won my blue state. What choice do we really have? Sure I'd love to see Senator Sanders as pres. but the right wing mass media will not allow it to happen. Look at the republican choices, do we really want one of those armageddon nuts in the White House?....... Keep up the good work!
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Thom's question also relates to why companies are sitting on so much cash. The demand is just not there for growth. When I talk demand, I mean individuals qualified to borrow for homes and other large ticket items such as cars. Underwriting standards are tight, bank regulators are making it tough and with interest rates so low, the banks can play it as safe as possible with their asset choices and continue to build up their capital. Also, without the demand for growth, what do mangers spend their time doing? Managers are generally smart, they will look for ways to utilize technology to make the business more productive with less people and resources thus continuing to horde cash and wait. It is just going to take awhile until the pendulum swings in favor of growth and jobs. There is no quick fix.
Off subject, I know, but I just want to warn you about a really dumb movie....Apollo 18. It's a Blair Witch goes to the Moon kind of movie....similar to The Forth Kind..where they use some purported actual footage, that they claim was recently released, and they edit in actors that they want you to believe were the actual astronauts. There's a lot of shaky camera...like Blair Witch...and it starts off with footprints on the moon not made by the astronauts...quick video shots of something moving in the distance with highlight circles...then the movie really gets "unbelievable". If you stay long enough to read the credits...at the very end they put up the 3 actor's names without saying they played the 3 astronauts...just their names. It was great watching some of the moon footage you wouldn't normally have seen before...that is if you can really tell which was actual and which was edited. After the initial "what the heck!" and realizing that they are really taking us for a ride on this one the movie became very tedious because you realize it is largely fiction..just another stupid Blair Witch Project or The Forth Kind faux docudrama.
These comments are beginning to resemble the comments I see every day on Yahoo news.
FDR 10-31-1936,
"For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up.
We had to struggle with the old enemies of peace—business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.
They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.
Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me—and I welcome their hatred.
I should like to have it said of my first Administration that in it the forces of selfishness and of lust for power met their match. I should like to have it said of my second Administration that in it these forces met their master."
Obama is like an abused wife...., but I remain forever optimistic that he will find the course of a strong leader, acknowledging the GOP hatred and making the bold proposals, fighting for them
Yes but if it wasn't for the drain of American technology and outsourcing, and a huge sucking sound of our jobs being sent overseas...all in the name of Big Corporations trying to maximize their profits over the years....we would still be buying American made products because they wouldn't be making anything comparable overseas to ship to America. All of those foreign workers...from the lowest laborer to Corporate CEOs from overseas...China, Japan, etc found it easy to take American jobs here in the US for many years...then many took that knowledge back to their own countries (some stayed...but how much knowledge was siphoned off just by relatives and friends...or corporate spies?). Then our profit monger corporations set up factories over in those countries exploiting cheap labor. Of course the goods produced would be cheaper and we had a government that played right along with their rich and powerful corporations and would not put a tariff on those goods. The corporations wouldn't like it! And now these same corporations and their feckless useful idiots all spout inanities blaming the US consumers....it's all their fault...let's blame it all on the consumers! Well a lot of those smaller businesses who shake their heads and try to blame the consumers for buying at the lowest price...something they themselves do...buy low, sell high..and may be hurt by companies like Wall Mart....or Amazon....may very well be Republicans who have bought into the Conservative Supply Side neoliberal economics and now must pay for their own stupidity. They may have voted all along for politicians who would favor business and now may have to lose their businesses because there aren't any customers who can afford to buy their products. They all squeezed the wooden nickels right out of our pockets and now we can't or won't buy because we may have to eat. The least we are all thinking about right now is buying American....screw patriotism...it's a ruse...and a fools game. When you don't have a whole infrastructure of businesses and a political system that really believes in patriotism enough to keep jobs in America...then screw them...and screw patriotism. We'll keep buying what we can afford. It wasn't us who started this economic war...it was the greedy businesses, corporations and their toady politicians.
Looks like some people still don't get it!!! Obama is not our friend! He is not a progressive or even a real Democrat...unless you consider a Wall Street Democrat a real Democrat. Re-electing Obama will not make things any better for us because Obama is trying to do the same things that Republicans want...destroy Social Security and Medicare...continue wasting money and lives in a feckless, illegal, and idiotic war....and continue letting big business screw us all. And it is not because his hands are tied..once he beguiled us to elect him, he has done nothing but play the Republican hand. Re-electing Obama would be just another 4 more years of more of the same...and even worse! How can you be so fooled by Obama? Let's primary him out and put someone else in...for a change...black, white, brown, red, or yellow..man or woman...I don't care as long as it is not Obama or another fake Democrat....and this time a real progressive Democrat and not another Trojan horse for the Republicans....real hope we might be able to believe in this time...but no one can believe Obama anymore. He has screwed himself by screwing his base. Obama is through...done for it...and if we don't put someone in the Presidency who will stand up to the Republicans this time then we all deserve what we get. If the Democrats don't have the balls to kick this fake out and run a real Democrat next election then I hope they think real hard as they suffer their fate. We'll either have some theocratic fascist Republican weirdo dictating us or we'll have Obama who will just continue to act as a Republican proxy or useful idiot as he has been doing.
I suppose consumption creates jobs in retail, transportation, and warehousing, but it doesn't create investment. Interest rates drive investment in an environment of certainty and confidence. I suspect, that one could say that consumption will also drive imports.
David, I have also thought about the potential for backlash against the Republicans by personalities like the teabaggers. It's likely to happen and would be very ugly. Whats that saying, "what goes around comes around" ?
hruhs, GREAT POST, it sure helps explain why the same crap has happened over and over again all through history.
President Obama has shown he has risen to the level of his own incompetency. He will say nothing that matters in his speech--if the Republicans allow him to speak--and no one who matters listens to him. I don't blame Obama for creating this mess, but he has done nothing to help the people of this country. These problems were here when he took office, but it has taken him nearly three years to just get around to it. The President's inaction on jobs and other issues that affect the majority of Americans is just disgraceful.
I blame JOB KILLERS like ROMNEY and PERRY for the unemployment trend. Arrogant sociopaths of their sort, have laid off large numbers of job creators........WORKERS WHO SPEND THEIR HARD EARNED MONEY WHICH IN TURN CREATES JOBS.
I want you to look in the mirror, and then ask yourself what you did when the shelves were filled with made in US goods and imported goods. Did you reach for the $50 pair of jeans, or that $25 imported pair. Did you buy that imported auto, lile all the auto workers who parked at the auto plants (still do). How about when you bought those early color TVs, did you reach for Zenith or for the imported. We the people, drove the domestic manufacturers overseas, because we the people wanted to maximize our purchasing power. We the people were greedy, and now we a full of envy.
I've always believed like you. When you are in a crisis situation, don't go with the high IQ leader, go with the one that will empathize with you while you both suffer.