How can the US expect the economy to grow when production and manufacturing jobs continue to go overseas?
Domestically, the United States produces little, off shoring has seemingly consumed companies based in the US and has turned them into multinational companies who make their products in other countries. The only legitimate way to pay back debt or have a viable economy is to have exports through manufacturing and production to offset the debt and seemingly unlimited consumer spending. If foreign countries were to take away our ability to import or borrow money the economy would collapse tomorrow and there would be an enormous amount of money with an extraordinarily small amount of goods which would create a hyperinflation scenario. The monetary policies we have now of expanding the money supply with 0% interest rates is also very dangerous for inflation down the road. All this stimulus money, hundreds of billions of dollars, in my opinion, should go all around the country into creating new factories and the tools in the factories to create products through mass production. In my view, country has to go back to a sound base of economics, saving its money, exporting products and natural resources to pay back the trillions of dollars of debt, not relying on other countries for their products, raising the interest rates quite a lot and only allowing reasonable loans, and cutting government spending quite a bit. Of course, this would force the country into a recession which everyone seems to want to avoid right now. Also, the argument that we shouldn't produce and that we are no longer in the industrial revolution is not a good one to make, China and India are and they are doing much better then the US at the moment.
Asked By: interdependent globalized world - 6/14/2009
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In addition, the environmentalists are impoverishing the West by hindering legitimate business pursuits related to oil and gas and nuclear power... More
Answered By: Andrew S - 6/14/2009
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They can't. As long as the unions have a grip on our manufacturing, we will never compete with foreign manufacturing. The constant demand for higher wages and benefits keep pushing up the cost of manufacturing here in the U.S. $2,000 of a car manufactured in the U.S. goes to paying union benefits. The current... More
Answered By: Mark S - 6/14/2009
I only read the initial questions and the answer to that is EDUCATION. Americans shouldn't even have these labor jobs, we have Mexicans for the farms, and chines for production. Americans ALL have the opportunity to receive a college education and do something with themselves, such as owning a small business, becoming... More
Answered By: nUts - 6/14/2009
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