Fundamental drivers of our current economic problems

[Rt.66]

The shift of manufacturing to other countries is what I see as the biggest problem. How can a country flourish if they do not make “stuff”? We have become the world’s buyers, we buy a majority of our stuff, sending our jobs and money to other countries.

We tried the whole bubble mania thing and simply selling each other houses for higher and higher prices. That’s not sustainable work. Making the shit you use on a day to day basis, is sustainable work.

I have been lambasted for supporting US automakers many times recently and not just on this board.

I look at US jobs as something we all should band together and fight for. Especially well paying manufacturing jobs with good benefits. I think its odd that Europeans will block roads and protest to keep US automaker factories open in their countries, yet so many of us here seem to want to see them fail.

By the time most people “get it” it will be too late. I think we should bring fairness into “free” trade even if it means risking a trade war to bring manufacturing back to the states. Better a trade war than a military war to get us out of this mess.

“May 4 (Bloomberg) — Post-recession America may be saddled with high unemployment even after good times finally return.

Hundreds of thousands of jobs have vanished forever in industries such as auto manufacturing and financial services. Millions of people who were fired or laid off will find it harder to get hired again and for years may have to accept lower earnings than they enjoyed before the slump.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOhkusQ9LifQ&refer=home

[peterb]

It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.

I believe the horse has long left the barn on this one.

[peterb]

It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.

I believe the horse has long left the barn on this one.

[peterb]

It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.

I believe the horse has long left the barn on this one.

[peterb]

It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.

I believe the horse has long left the barn on this one.

[peterb]

It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.

I believe the horse has long left the barn on this one.

[sdduuuude]

This is all nice, but I believe the ratings agencies are the root of the problem. Without overrated securities, none of this would have happened. The bad ratings created more demand for mortgages, which forced lenders to rely more on their distributed network. The distributed network of brokers emerged because of the bad ratings, not the other way around.

[sdduuuude]

This is all nice, but I believe the ratings agencies are the root of the problem. Without overrated securities, none of this would have happened. The bad ratings created more demand for mortgages, which forced lenders to rely more on their distributed network. The distributed network of brokers emerged because of the bad ratings, not the other way around.

[sdduuuude]

This is all nice, but I believe the ratings agencies are the root of the problem. Without overrated securities, none of this would have happened. The bad ratings created more demand for mortgages, which forced lenders to rely more on their distributed network. The distributed network of brokers emerged because of the bad ratings, not the other way around.

[sdduuuude]

This is all nice, but I believe the ratings agencies are the root of the problem. Without overrated securities, none of this would have happened. The bad ratings created more demand for mortgages, which forced lenders to rely more on their distributed network. The distributed network of brokers emerged because of the bad ratings, not the other way around.

[sdduuuude]

This is all nice, but I believe the ratings agencies are the root of the problem. Without overrated securities, none of this would have happened. The bad ratings created more demand for mortgages, which forced lenders to rely more on their distributed network. The distributed network of brokers emerged because of the bad ratings, not the other way around.

[Rt.66]

Good point, we need some perp walks on that front.

[Rt.66]

Good point, we need some perp walks on that front.

[Rt.66]

Good point, we need some perp walks on that front.

[Rt.66]

Good point, we need some perp walks on that front.

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