How much of Obama's mammoth fiscal stimulus will "leak" abroad, creating jobs in China, Germany, or Mexico rather than the U.S?
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Let's please keep the conversation civil and respectfully disagree with each other on this article.
Thanks,
Pete
How much of Obama's mammoth fiscal stimulus will "leak" abroad, creating jobs in China, Germany, or Mexico rather than the U.S? A LOT.
In this article, I have for the first time since this economic crisis began, the fact of "Americans prefer to buy foreign made products from cars to clothing." This fact is the single biggest contributor to the increasing "ownership of the United States" by other countries and "sovereign funds". We are a nation of conspicuous consumption (with its attendent wastage} and unless we admit it and actively set about setting it right, all of the hand-wringing, blame placing and all the money being printed will all go where it will do us but little good.
- 1 vote
What happen to one president at a time?
When did we get a Office of the President Elect?
He is not even in office yet and already talking about spending billions of $$
- 2 votes
Duh!!! This is exactly what I have been saying on this stupid Newsvine thing since the economy tanked. Oh no, you are wrong. Oh no, foreign products are better. Oh no, foreign products are cheaper. WELL, GUESS WHAT? READ THIS HEADLINE:
Obama’s jobs promise faces major challenges
Americans tend to buy imported products — aiding economies abroad
I tell you Americans are not smart enough to see what they are doing to their country. They have bought into this Global Economy thing, and we are suffering because of it. NOW. WANT TO FIX IT? Then YOU HAVE to buy American. End of story. End of problem. Get over it. If you do not start buying American products OWNED by American companies we slide even further down the economic ladder. We lose more jobs. And we will end up with anarchy in the street. NOW. Sell that foreign crap in your driveway and buy GM, Ford, and/or Chrysler. Let's get this country back on top of the economic food chain. I rest my case. Thankfully someone else in this world knows what is wrong with America. Now to educate the others who obviously do not understand out country and economy works. Geeez. I'm not sure they are bright enough to see it staring them right in the face. Let's see the comments/replies now. That will tell me where we are headed.
The truth is that the cars that are being built here or sold here with the big three's names on them may not be built here or have only American parts in them. Since we now live in a very industrialized world and depend on the world economy for a large part of our goods and services. America needs to become more competative and it's people better educated or we will have a hard time coming out of our present economic crisis. Americans need to realize that those jobs we are losing are not coming back. That we need to come up with newer and better things that the world needs and wants. New technologies, inventions and ways of doings things, that we can market to the world. We taught the world how to progress and even helped them along. They are now competing with and passing us by as they become more industrialized and competative with their products through out the world.
puck2u; Doesn't anyone understand by hiring all the immigrants legal or illegal that you are infact out soursing the labor here in america
- 1 vote
Uh Juan and scaper...Doesn't anyone understand how our economy works and country stays powerful? It DOES NOT matter where "our" companies products are made really. What is important is that they make a sale and a profit. That in turn helps our country. While it is true we need jobs here. The fact that we all want to make $50/hour makes it difficult to compete against countries with much cheaper labor costs. So that being said, let them manufacturer, and we will manage. Now lets get out there and buy products from American owned companies. Or, continue down the foolish path of buying foreign and sending all our money overseas. There are no other options. Buy it, or lose. End of story.
Uh! puck2u; you made absolutely no sense in your statement. Doesn't matter where there made but buy american (contradictory statement) so a truck assembled in mexico is an american made product ? I don't think so sorry but you made a pretty foolish argument end of story
and while were at it's landscaper to you
- 1 vote
You shut down chinese imports, you shut down wal mart. Both of which are good ideas.
- 1 vote
You shut down Wal-Mart and you will put thousands of people out of work, truck drivers, ship yard workers, plus those who work at the individual stores. How and with what will you replace all those jobs. Plus Wal-Mart pays a lot in taxes and donates quite a bit of money to charities, so before you talk about closing Wal-Mart think about the damage that would do to an already hurting economy?
- 1 vote
The Democrats killed the American economy, along with their friends in the unions. Look at all the crooks in congress and how they talked the economy into the ground just to get control of the white house and congress. Believe it or not the jobs are just not out there any more. Americans don't want to work regular jobs or perform the jobs the illegal immigrants have been doing for years. Industries have left our shores because they can no longer compete in the global economy if they stay here. The cost of labor is to high here and America has turn into a bunch of give me give Me's. Who think the government can solve all their problems. Obama is going to find it very hard to create jobs if he is unable to convince the people with the money to invest here in America. If he goes the tax the rich route. The rich wont have any money to invest and no jobs will be created. He will find it very hard to create jobs to replace those lost if the big three go down the tubes let alone other jobs like he says he will.
- 1 vote
Juan, what you are saying is just the same old nonsense sprouted by folks who want things to stay as it is, where the rich pay less taxes than the middle class.
The Democrats did not kill the economy, the Republicans did that all by themselves when the rich got the tax cuts under the old trickle down economics spiel. Clinton left office leaving a surplus and now we have a hugh deficit getting larger by the minute helping the rich. Aren't the CEOs etc getting bonuses which will be comming from the bailout money just given to them?
Perhaps you are one of those who will be getting a bonus while other people will be getting pink slips and see forclosure and food stamps in their future. Well, lucky you.
Several years back in the early 2000s corporations were outsourcing jobs overseas, while telling the American working public that these were jobs that Americans did not want to do and also that more service and white collar jobs would be created. This was just another way to move the manufacturing jobs overseas to tap into cheap/slave/sweat shop labour. White collar jobs were also outsourced as well as for example call centers were moved to various countries abroad.
When products are not made in America then what are American supposed to buy if not the shoddy cheap products that are made overseas. There was a time when it was the rage to buy products made in the USA because these products were well made and lasted a long time. Now you buy a poduct which breaks down within the first few months of ownership and you don't even know where it was made anymore. Corporations were just looking out for their profit margins and their bonuses not for the rank and file employees who were expected to work longer hours for less money.
Remember the 80s and early 90s when the term "latch key kids" was coined because children were coming home and had to let themselves in as there were no parent there to meet and be with them, and the phrase "spending quality time" was the buzz words as both parents now had to work and work longer hours to earn enough money to support their family thus not having much time for their children? Weren't those the newly minted phrases back then which continues even these days? Wasn't there a down turn in the economy back then resulting in many people losing their employment or unable to find employment even if you were a professional person?
By the by don't bother to bring up the illegal aliens situation. Don't bother to spew forth the old ''Americans don't want to to work regular jobs or perform the jobs the illegal aliens have been doing for years" nonsense. If you go that route then one will have to discuss the real cost to the tax payers that the illegal aliens incur. One may have to point out that the tax payers have been subsidizing the costs that the companies etc who employ these folks don't cover, when they pay these folks less than a living wage or cover them with health insurance etc resulting in their healthcare cost etc being covered through Medicaid etc paid for by tax payers.
Labour cost in the USA is not higher than any other first world country. As has been noted recently the pay checks of the average middleclass worker has fallen. The only people who have gotten richer are the rich.
What is the govt there for if not to solve problems. They are being paid well to do so although from what you are saying the govt is there to serve the corporations and the wealthy while the rest of the populace can go live in a card board box because they are just lazy, don't want to work, want to get hand outs, use the system, while buying cheaply made stuff they can't afford anyway. Your spiel is not new, it is spewed forth to muddy the water so that the public don't realize how they are being used on one hand and ignored on the other while the rich get richer and the breaks.
Why should the big 3 get help if as you say "the American don't want to work and have turned into a bunch of give Me's". Wouldn't the bailout of the big 3 therefore be helping other countries where they have moved many of their manufacturing plants instead of the workers in the USA?
The USA is probably the only first world country that does not have any social underpinnings like the rest of the first world countries. These countries also protect their own markets while supporting their own people. Nothing wrong with that. Charity begins at home after all doesn't it? In other words one has to help ones self first before one can help anyone else.
By the way why don't you urge the present President and Congress to help the big 3. Obama hasn't taken the office as yet so anything that needs to be done immediately need to be carried out by the sitting President.
- 2 votes
Bze1,
I am afraid I have to disagree with your point regarding the cost of labor. The unions in this country have caused the real cost (pay & benefits) of manufacturing wages to go up so high that our products too expensive to compete globally. For example, I work for a manufacture and the benefit burden rate for an hourly worker is 1.65. That means we have to pay an extra $1.65 in benefits for each $1.00 of wages. So, someone hired at $11 per hour is paided $29.65 in total compensation. Our lowest skilled workers make close to $100k just to stand by a machine and watch it run. The wages in turn go into the cost of the product - conversion costs - and jack the price up. That is why the cost of labour is too high in this country and the automobile manufacturers have to pay even higher wages.
- 2 votes
Fred, a large chunk of the $1.65 goes for health insurance. Other first world countries provide basic health care coverage to its citizens that everyone contributes to no matter which part of the pay structure you belong to.
It has been shown recently that the 70 dollars per hour that everyone has been talking about that line employees at the big 3 were supposed to earn is not true. These workers make about 28 dollars per hour in actuality and which is similar to other car manufacturers in the USA.
Perhaps you want the people, who give their youth to a company doing physical labour, to produce products that they as employees cannot afford to purchase or for them not to have any worthwhile standard of living or send their children to college because they do not deserve anything more than minimum wage because what they do is not considered technical enough or need a degree to do.
You can calculate the hourly wage which ever way you want it to skew the findings against these hourly wage employees, which I doubt is as high as you try to make it out. On average the additional benefits cost usually include money value of vacation time, sick leave time, public holidays, subsedized health care cost, 401k matching that everyone gets where ever they work for the most part. All these costs are put together to come up with a benefits package and a total benefits cost.
Using your numbers these employees are not earning $100k per year, rather about $60,632.00 per year. ( 11x 1.65=18.15+ 11= 29.15 x 40h/wk = 1166 x 52 wks/yr= 60,632)
I wonder what the mark up is for the white collar workers and the upper echelons of the companies if the line employes are being paid 1.65 per hour more above the 1 dollar per hour of wages. Have you thought of giving yours back to lower the cost of the products produced? I would hazard to say that most folks would perfer to earn less if they didn't have to factor in health care cost.
You also have to remember that the cost of living in these other countries are lower than in the USA. Companies moved manufacturing plants abroad to countries where they could pay from 50c to $2/hr per hour or so and no benefits and even use children to do these dangerous jobs. It it any wonder the folks from these countries find ways of getting into the USA where they feel they have a better chance of making even USA minimum wage?
By the way no doubt your add on cost is more than those of the line worker as it appears that you are a white collar worker where you are not at risk of injury from working with these machines. You no doubt are not on your feet all day and can well afford to send your children to college based on your salary.
The other thing is why are other foreign companies buying factories and making their products in the USA where they can and do find skilled workers - who were laid off from American companies who were only looking for a massive profit margin even at the cost of the employees and their country thus moving their factories to places like Mexico and China for the cheap labour. ( Recently, before the financial market implosion, workers in China were demanding higher wages from the companies they worked for. It would appear they too wanted a better standard of living so the cost of goods were going up.) These foreign companies with factories in the USA don't seem to be having the problems that their American counterparts are having. Could it be that the management of these companies treat their employees as human being and valued members of the company and no doubt do not make the millions in salary and bonuses that the American companies management seem to command.
In the past companies have shed their middle and some upper management positions as a way to decrease employee cost. From observation the folks that do the least work for the most pay and bigger benefits are usually those who are in management. If you are in management be afraid, be very afraid. A company can function with less managers, but not without the line workers. After all these line workers are the ones that actually produce anything, you know make the products while they STAND on their feet for 40 hours per week making sure these multimillion dollar machines run and make the products properly. Nothing like one of these machines have a part fall off or drop what ever it is fabricating/making or it should stop working thus holding up the line. Nothing like working in noise, moving parts etc or perhaps having one of these machines drop its load on a person resulting in some serious injury. Just goes to show you don't appear to have a clue what these workers do. Perhaps before folks are employed in the managerial position they should work on the floor with the machines like the lowest skilled workers to understand what they do. Perhaps then you will appreciate the importance of what they do and their importance to the company.
Forgot to mention that in many states the base rate is not minimum wage, rather they pay what is called a living wage which is over 10 dollars per hour. On average the benefits package for most employes amount to about 10 thousand dollars or so per year.
Even the lowest skilled workers need a decent standard of living just like folks like you.
- 2 votes
One thing that I think everyone needs to remember is that the cost to manufacture a product does not correllate directly with the price set for that product. Supply and Demand is the chief factor in determining price. Let me give you an example...
As a side job, I build and sell custom golf clubs and golf club components - because my Vice President position at my financial services corporation doesn't cover all the bills...because my wife and I decided to forego the dual income model so that she can focus on raising our daughter (anyway, that's a different story). The golf components (shafts, grips, and clubheads) I purchase are actually made in the same foundries as Callaway, TaylorMade, etc; thus, they are of highest quality. To make a long story short, the big golf companies (like those mentioned above) pay approximately $50 for the components and manufacturing labor costs for one driver...and when the economy was rolling, they were charging $400 - $500 per club. They didn't charge less because their cost was less; rather, they let the demand of the marketplace determine the price. Yes, they do pay tour players and other advertising expenses, but they're still making a hefty sum per club...even now, when they've dropped their prices substantially, their profit margins exceed traditional models.
The same can be said for the big box retailers like Wal-Mart. Even though we believe that we are "saving money and living better," the company has profit margins in the 80s...again, far in front of the traditional 35% model. They're not lowering prices to the point where they'd still be turning a profit; rather, they're getting the maximum price based on the demand the products generate.
There is one golf shaft company for whom I am a distributor who actually manufactures the shafts in the United States. My cost per shaft is approximately the same as for any shaft I purchase from companies who manufacture in the far east (mostly China and Taiwan). By the way, this US-Made shaft has won the last two long drive championships, so it's not a cheap knock-off model; it's as good as if not better than any shaft out there. This tells me two things: (1) I'm getting the shaft (literally) from the companies who manufacture overseas...but since the models are in demand, I pay the manufacturer, and my customers pay me; and (2) the company making the shafts in the USA is not as greedy...yes, they're paying more for labor, but they're not passing that cost on to me...or my customers.
Juan; those jobs you say americans won't do, well they used to be done by americans until the politicians turned a blind eye, the employer got cheap labor, and the american people accept all this thinking they are getting a better value Well it's not true and a large section of our economy has been ruined. The american people have no respect for the construction trades people angry amrican against immigration illegal or legal
- 2 votes
Bze1; I'll agree with you on every thing except the political point It's both parties that are benifitting through all this the libs are as complisit as the concervs all in all I'd say nice post
- 1 vote
What a mess our country is in. There is no easy answer. We bail out everybody and his brother and one major aspect to all of this is the role was the historically high price of gas this past year. That one aspect alone did more damage to our economy and society alone. Jobs and homes have been lost at a record rate as a direct result of the high fuel prices. Production and shipping costs were passed on to the consumer in every imaginable product from food to our utility bills. We cut back because we had less to spend. That resulted in even more jobs lost. We need to take some of these billions and first bail America out of its dependence on foreign oil. Yes gas prices are low. NO they are not going to stay low. OPEC is planning to cut production further and will continue to do so until they get prices back up where they want them to be. While we are doing the happy dance around the pumps we are totally missing the next chapter in our dependence on foreign oil. Someone said in an article yesterday it is rather like trying to talk to someone standing in the pouring rain under an umbrella about a possible upcoming drought. How true. America has tunnel vision. And short term memory loss when it comes to oil and our dependence on it and their control over us. They have us over a barrel literally and they know it. When will we all get that? We need to get on with utilizing alternative energy. Jeff Wilson has a new book out called The Manhattan Project of 2009 Energy Independence NOW. I totally agree with him. WE have the knowledge and the technology, what America lacks is a plan. So, he included one in his book. Now if we could send our government a copy maybe they would learn something! www.themanhattanprojectof2009.com
If the oil producing countries selling us oil raise prices it's our fault. But if we start developing some of our vast oil reserves we will be more competitive and be able to provide for our own needs with our own oil and not have to depend so much on foreign oil. Thus forcing OPEC to keep their prices lower just to compete with us on our terms.
- 1 vote
Juan, oil producers in the USA are selling their oil abroad, so producing more oil in the USA would not help the country. How come the price for oil has fallen by about 60% so far. Why did it go to $145 per barrel this summer yet it is now down to just over 50 dollars per barrel.
It is said that Americans are driving less on one hand while on the other hand there are talking heads who keep saying Americans want big gas guzzlers and itch to drive more. Lol. Also there are those who keep saying that Americans wont change their driving habits even although they see less cars on the roads even as gas prices fall.
The airlines raised prices and fees to their own detriment. More folks are staying home or taking public mass transportation like the bus or trains even over the holidays. It seems that with less passengers the airlines are finally leaving and arriving on time.LOl
Why do the talking heads keep saying that Americans are carrying more debt than any other country when it appears that that is not true. In other countries their population are carrying more debt than Americans.
Isn't it strange that when oil prices suddenly skyrocketed and the the push to have drilling in many protected areas and on the coasts was oked that the price of oil went down?
Why do you think that the use of other greener fuels are not encouraged? A home owner putting solar panels on his/her house is not putting money into the electricity providers pockets, thus the homeowners installation of solar panels on their homes are not encouraged by keeping the cost prohibitive. The only folks who are subsedized when they install solar panels on their buildings, are businesses.
Of course power companies will put solar panels on your house at no upfront cost to the homeowner, but you will have to pay for the electricity generated at the cost that they set even although they are using the roof of your house.
Will not be long before you are paying for the air you breathe if one is not doing that already. Aren't they charging more for cars etc that produce less pollution or are energy efficient?
Ah capitalism. Lol
I thought that Obama had promised 5 million jobs. I read that number on his campaign website! Now it's save or create 2.5 million! what a liar this Obama dude is! He fooled all of you koolaid drinkers, and all that he had to do was read a speech written by Axelrod! What sheep you all are! ha ha ha ha
The five million jobs referred to his plan for jobs in the alternative fuel industry; this 2.5 million job plan has to do with a short-term goal (by 2011) that is tied to rebuilding our infrastructure (roads, bridges, broadband lines, etc.).
Over 100 other countries use the value-added tax (VAT) to deal with this loss of jobs to other countries problem. The VAT can be applied to imports at the border. And, it can be refunded when we export something.
The VAT is levied at every stage of production. Unlike the FICA Social Security/Medicare tax, which is levied only when a company hires a person, the VAT also can be applied to production by machines.
When the goods are exported, international agreements allow the VAT to be refunded. However, these agreements do not allow for the refunding of FICA or other taxes that raise the cost of producing the would-be exports.
These agreements allow US to apply the VAT to that imported Lexus or the foreign made parts for cars assembled here. Imagine; imports helping US deal with the coming Social Security/Medicare financial crisis!
Thus, America is at a competitve disadvantage in world market, because we do not follow the international rules. These rules were put in place, when we were the G 1 nation in the late 1940s, when we were writing the rules.
What is wrong with US that we don't even acknowledge the rules that we wrote? Is it that we get too much pleasure from bellyaching!
God Bless America!
- 1 vote
Jim, the problem is that companies have lobbied these rules into impotence. Plus it is easier to blame the masses than the bosses.
If ignoring these rules were not benefical to some folks or some countries other than the USA it would not be ignored. No wonder there are those who want smaller govt. This way there will be no one watching what they do that is harming the country, while they line their pockets at the masses expense. Financial implosion, big 3 implosion and the dominoes continue falling, while they spend enormous amounts of money to lobby Congress for their own selfish agenda.
It is said "the meek/poor will inherit the earth" and those that say "after the strong/rich is finished with it". Well they are finished with it and the meek and poor are now paying through the teeth for the previlage of inheriting nothing. Lol
The leaders of this country need to start protecting its own as other countries are doing. There are those talking heads who say that American style capitalism is finished. The leaders of the USA had better take note, as it is fast becoming each country for itself, unless they want to lead a fourth world country that America is fast becomming.
America is probably the only country in the world where some people believe helping the masses is looked upon as socialism and should not be done. Universal healthcare is needed, but of course may never happen because the insurance companies would not be able to make money out of that.
What kind of new job is the incoming president going to generate that will pay enough so a person can make a living for his family? Working in a fast foot restaurant is not going to cut it.
Most everything we buy in this country is made in other countries, because the United States no has companies that manufacture these products. (I worked in a shipyard for 27.5 years and I will say more then 50% of the material that went into to building the ships came from overseas for one reason or another. Like cost of material, no longer made in this country. Or they didn’t make enough of what they made to supply us with what we needed to build the ship on time and at cost).
If he thinks he has a work for that wants to work then he may be in for a shock, or have the education skills to do the job. Our work for force is at a third world country level of education in most cases.
Who wants to work for $8.00 an hour when he/she can be on welfare and make twice that in a week?
I think the president elect might be in for a very big shock and surprise when he gets out in the real world and take a good look at the country he lives in.
He might not even get 2.5 million workers for his WPA projects.
Why in all these discussions are the immigrant workers legal and illegal not discussed there are 10 - 15 million of them here isn't it time to take care of the american workers. I understand the talk about the auto workers and in my opinion they have gone to far hurting all unions and the possibility of more unions. But still almost all of construction has gone to immigrants by way of employers taking advantage of cheaper labor and destroying a whole section of the economy yet no one talks about it ? I don't understand
- 1 vote
Well, the illegal immigrant problem is only going to get worse with Obama and the democrat congress! They want to turn them into legal citizens so they will all vote democrat! What we are looking at folks is a one-party system. With the democrats in perpetual power! Look at Mexico-The PRI party was in control for over 56 years! Mexico is in a mess because of it! I mean the Republicans are toast here, so Obama and the democrats are going to rule forever, and the us will look alot like Mexico!
Good come back but you need to get some of your facts right. The one point you made about 2000 when Bush took office on Jan. 20th China, Mexico, Canada and India just open there door that day and started manufacturing everything this was going on for years before Bush took office but people who are uninformed will say that who put in that thing that let other countries make things for us at a lower cost and we could buy them by the millions oh I can’t think of it right now but I think it was something that Clinton Signed into law I’m not a big lover of Bush but you can’t give him the bad rap for the loss of blue collar jobs. Only one you can point your finger at is Clinton but that’s right I did not have sex with that woman. The Democrats almost have control a year or two who are you going to point your finger at then.
Foreclosures are from the most part those who should not have a house to begin with and you want me to pay for that too. Let them sink to they have a home in Mexico they can live there.
You also said the overseas products are junk, I wonder if you know that for the past 10-15 years US autos are not made in the US. All sheet metal, engines, drive trains and all of the seats, dash and carpet is made in Mexico, China and Canada. The only thing the big three do in the USA is assemble those shoddy cheap products in the US. and call it American made Auto So how your Chevy truck running. If that is true my Toyota is American made too it’s got 250,000 miles on it and never needs oil added.
Just another tidbit do you know what the hottest selling car in China is? It’s by GM get s 35 miles per gal. and its the size of a Camay. Give up a Buick. Also did you know that the CEO of GM all on his own loss 75 billion in 2008. Your crying you want made in the USA to come back. There’s article below this is why I say let all three sink.
GM launches all-out 'product offensive' in China
From:AFPNovember 21, 2008
SHANGHAI (AFP) — US automaker General Motors has unveiled an "unprecedented" number of new models in China, where it has gone on the offensive as it faces bankruptcy at home, state media reported Thursday.GM and its local partners are trying to keep an edge in China, the world's second largest market after the United States, as they exhibit 24 models at this week's Guangzhou International Auto Show, the China Daily said."The vehicles on display are part of a product offensive that will see us roll out an unprecedented number of new and upgraded models over the coming two years," GM's China chief executive Kevin Wale was quoted as saying.GM's new offerings for the Chinese market include the Buick Enclave SUV, Chevrolet Cruze sedan and Cadillac CTS-V.Although growth is slowing in China, the market is crucial for GM , which sold more than 60 percent of its cars outside the US in the third quarter.Between July and September, GM's worldwide sales fell 11.4 percent to 2.12 million vehicles.GM's China sales grew 10.2 percent year-on-year in the first nine months to 830,480 vehicles, the newspaper reported.However, some GM rivals say they are growing even faster. Toyota Motor senior managing director Sasaki Akira told the newspaper his company expected sales to rise by 20 percent this year to 600,000.Ford, which launched new versions of its Fiesta compact and Volvo brand S80 sedan, said its financial troubles in the United States would not affect its expansion in China."We will continue to introduce new products and invest more in China with our profits from local operations," Ford China spokesman Kenneth Hsu was quoted as saying.The annual Guangzhou event in southern China, which ends on November 25, is one of the country's three biggest auto shows.
Last thing illegal aliens you are spot on
Foreclosures are from the most part those who should not have a house to begin with and you want me to pay for that too.
While I agree with most of your post, the foreclosure numbers simply do not add up to have created the downward economic trend we are currently experiencing. There is a lot more at play here, we (Americans) are not getting the full story here and I suspect we never will. This is far too big to blame on sub prime and plasma TVs.
I would also add that you may want to check the job loss numbers in 2008 alone. Those numbers will rise more in 2009. We can't continue to put blame in the hands of overpurchasing homes. A $90,000.00 home is not that much, but when a person does not have a JOB or the same job when the home is purchased, well, that house payment becomes impossible.
Will this be the last great depression, will the violence in the middle east lead to wwIII, who stands to profit fom all this? is there even anything that can change this course?
- 1 vote
Obama to save 2.5 million American jobs? I doubt it and wont put much into his claim of creating a large number of jobs. Oh yes, those new energy jobs? Dont count on those either. With the economy the way it is, alternative energy sources arent going to occur because alternative energy will not be cheap to start up and the economy wont stand for it. Who is going to buy that energy? Not the people losing their jobs for sure. Wake up Obama, you are not the wizard some think foolishly you are. Words are cheap. Let's really see what Obama is going to do after 20 January. If he really wants to do something, stop buying from China and give the American citizen the opportunity to make the same products and keep our cash here at home.
- 1 vote
There is another kind of "leak" that is usually overlooked. How many of the jobs created in this country will go to foreigners here on HB visas or illegally?
It's not just overlooked, it's not in the news, when I write my congress & senate their response state that "they are so woven into the fabric of our country that it would tear us apart" if this is not apart of our politicians & financial groups to waste the middle class of america i don't know what is.
Pissed off american against immigration
- 1 vote
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