[quote=FlyerInHi]Maybe it’s time for the US to act like China and take advantage of this opportunity. There is a global glut of steel and construction materials.
We should embark on a grand building spree like we did during the industrial age — new airports, deepwater ports, train stations, high speed rail. 21 century versions of Hoover Dam, Grand Central Station, Golden Gate Bridge, etc…
That would absorb the capacity overhang. We can welcome refugees from around the world to provide the labor. Make America great again![/quote]
Considering how hard it was to get the Stimulus package approved when Domestic labor was ridiculously cheap and abundant, I wouldn’t hold my breath on this. Half the country believes the secret to beating a recession is cutting taxes (and also in cutting taxes during a boom). A lot of smart people were arguing for long term infrastructure investment during the crash while labor was at historically low prices, but only a fraction of what probably should have been done was actually executed thanks to austerity.
We probaly won’t see serious infrastructure investment until the next time the branches of government are switched.
