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Economic woes

March 21, 2014

The problems wage earners are facing like poor or non-existent raises and lack of jobs is a result of our anemic economic recovery....

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(59)

gavinf56

Mar-22-14 5:57 AM

Well Rick, I think the difference is that you seem to think that because they do it to lower costs and increase profit that it somehow nefarious. I see it as good business practice.

Other questions. Do you mean those posed in your 9:10 PM post?

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bobbae2

Mar-21-14 9:58 PM

As Rickie and his ilk force more and more jobs offshore children again will be forced into the work arena so the family can eat. Proud liberals in action.

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rick424

Mar-21-14 9:29 PM

Sorry Gavin. I will read those articles later. Thanks for the tips. They look interesting.

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rick424

Mar-21-14 9:27 PM

Yes I know Gavin but that was not the question. Also all these good things they do is in the name of making more money. I think my other questions are being avoided by taking me down other roads.

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Ritty77

Mar-21-14 9:26 PM

Good letter, Phil.

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gavinf56

Mar-21-14 9:13 PM

"Many so-called externalities actually inflict internal costs on the firm, even in the absence of regulation or resource taxes. Excess packaging of products and greenhouse gases are not just costly to the environment but costly to the business. Wal-Mart, for example, was able to address both issues by reducing its packaging and rerouting its trucks to cut 100 million miles from its delivery routes in 2009, saving $200 million even as it shipped more products. Innovation in disposing of plastic used in stores has saved millions in lower disposal costs to landfills."

From the paper "How to reinvent capitalism". Yea Rick, it praises WalMart.

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rick424

Mar-21-14 9:10 PM

Are you saying goods made in countries with no regulations is fair? Are you saying we should do away with regulations to compete with these countries? Are you telling me that big business is not taking advantage of workers in other countries in the name of profits so the stockholders are happy and the CEOs can live lavish life styles? In the mean time get tax breaks galore. You mean to tell me that of everything I wrote that is all you responded with? I would rather give my tax dollars to the poor than the rich. At least poor people won't compare me to a nazi like billionaire Kenneth Langone did.

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gavinf56

Mar-21-14 9:04 PM

Google "How to reinvent capitalism—and unleash a wave of innovation and growth by Michael E. Porter and Mark R. Kramer" and read the PDF. It's lengthy.

or "Restoring American Competitiveness by Gary P. Pisano and Willy C. Shih", but you will at least need to register to read the entire article.

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gavinf56

Mar-21-14 9:01 PM

I find the Harvard Business Review a good source of information in this area. I especially like what Dr. Michael E. Porter often has to say.

Lots of stuff to Google if one is interested.

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underwood

Mar-21-14 8:54 PM

“We have an unfair advantage that big business using tax laws is doing to bring us cheap crap goods while making billions. Corporate welfare at its finest.”

Rick, if you have such a problem with the advantages government gives to business, why do you continue to support ever more government.

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rick424

Mar-21-14 8:23 PM

enigma, so what do we do? Eliminate the EPA, removed child labor laws? Removed work place safety? Minimum wage? That is what the world competition is allowing in their countries. Should we do the same? That is what my comment earlier on Walmart was about. We have an unfair advantage that big business using tax laws is doing to bring us cheap crap goods while making billions. Corporate welfare at its finest. As long as the stock holders are happy and events like what happened in Bangladesh don't happen no one cares.

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underwood

Mar-21-14 7:31 PM

Don’t forget the crash that happened toward the end of Bushe's term and caused the recession. The government and Wall St. collusion was what led to the beginnings of the Tea Party Movement. Government intervention has only prolonged the problem and caused more uncertainty for business.

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enigma

Mar-21-14 7:11 PM

Cap, You are mistaken. Taxes and the cost of regulatory compliance adds more to the price of American made goods than the cost of labor. Union demands add to the problem, but even they are not the major problem. Americans are more productive than workers in most other countries and are therefore worth more and most companies would rather manufacture here if not for the governmental burdens. We don't need to pay more for the made in America label if the American government will get off the backs of business and let them compete in the global economy. The solution is in Washington and the state houses, but good luck in getting any of them to release the stranglehold they have on the economy.

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underwood

Mar-21-14 6:42 PM

Lower cost imports helped the economy by allowing people to purchase more, but it matters little what goods cost if people’s purchasing power is eroded by inflation and unemployment.

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Capricorn1

Mar-21-14 6:03 PM

Where we lose the competition is on tax and regulation. Developing countries give business a much friendlier environment than we do and it's getting worse. -Enigma

This may be true, but we also play a role in all of this. Over the last 3 or 4 decades, Americans have been turning more to foreign made goods because of cheaper prices. Big box stores turned to the foreign market to purchase cheaper goods and we flooded these stores which in turn hurt manufacturing here at home. Companies finally realized in order to compete they had to move where production costs were lower. Yes, regulations played a role, as did labor unions and trade agreements IMO. But the only way manufacturing will be successful again is if Americans are willing to pay more for the made in America label.

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enigma

Mar-21-14 6:02 PM

"Not only was the entire national deficit eliminated after RAISING TAXES ON THE WEALTHY in 1993,"

Another lie told by both parties. The Democrats like to give Clinton credit and the Republicans like to give the Gingrich Congress credit, but the truth is, it never happened. If you look at the debt numbers you will see that it continued to rise for the entire Clinton Presidency. The so-called balanced budget was an accounting trick based on using Social Security money for general government spending and calling what they didn't steal a surplus. If you work in the private sector, you go to jail for accounting like that. But go ahead and continue believing what they tell you and you'll be happy all the way down the drain.

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Scott36

Mar-21-14 2:38 PM

Does the country have the experienced work force to support returning industry?-Capricorn1

I have a friend who was called back from retirement for a "temporary" assignment to train another. Problem was, they never got around to getting him that other person. He finally just left. Apprenticeships are an excellent training/breaking in program. To newer equipment, usually the company will send someone in order to make sure the operator/user are familiar with it.-Scott

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MrShaman

Mar-21-14 2:34 PM

"A growing economy is good for everyone, but liberals have the wrong ideas about how to get there." - enigma

*

"Not only was the entire national deficit eliminated after RAISING TAXES ON THE WEALTHY in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

*

See:

1993 deficit reduction: A Lesson on Tax Policy

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enigma

Mar-21-14 2:32 PM

"Two problems I see is facilities and equipment and job market talent." - Cap

That looks like three things to me, but no matter. Whether the country is ready or not, we have to get manufacturing back. No economy can grow without production. Your concerns are of little consequence as all production requires capital investment and workforce training. We still have many advantages in this country on both fronts. Where we lose the competition is on tax and regulation. Developing countries give business a much friendlier environment than we do and it's getting worse. Until government stops punishing production and starts promoting it we will continue to lose and the longer we continue down this path the harder it will be to come back. It won't be easy or quick, but the U.S. market still has what it takes, but the U.S. government has to get out of the way.

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underwood

Mar-21-14 2:32 PM

Cap, Facilities modernization would provide opportunities for many if manufacturing comes back here.

I believe both labor and industry will adjust to normal conditions. When demand for a particular skill or profession increases, people will prepare themselves to meet the demand and companies will pay according to the availability of people to fill their needs. Forces beyond the control of business or labor have created the problems we are encountering in our economy today and they’re simply responding to them. If things don’t improve we’ll lose our middle class and worker’s ability to climb the economic ladder.

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Capricorn1

Mar-21-14 2:16 PM

Phil, when you get a free minute, check out this article. It has a lot of points I never considered.

Is The United States Ready To Take Manufacturing Back? -manufacturing dot net

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Capricorn1

Mar-21-14 2:06 PM

Phil, what are your thoughts regarding this country being ready for manufacturing to begin returning? Two problems I see is facilities and equipment and job market talent.

Some companies that chose to move offshore kept facilities and equipment in country, but not much money or attention was spent on maintaining these facilities and equipment. Old equipment equates to lower production. So a lot of capital will have to be spent on new facilities and new equipment. WRT personnel experience, back in the 70's, 25% of the workforce was manufacturing. Today it's less than 9%, with much of the talent and experience we do have reaching retirement. Does the country have the experienced work force to support returning industry?

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0futm2

Mar-21-14 1:48 PM

Def. "sewer queen" : one that votes for thieves and serial rapist.

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underwood

Mar-21-14 1:34 PM

Scott36, it’s been my experience that companies ARE greatly concerned about their communities and employees. I believe how companies are perceived has a lot more to do with an individual’s mindset and worldview than it does with reality.

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Scott36

Mar-21-14 1:24 PM

Mr. Underwood,

Your 10:47 post is Great!! Now if we could get some to look past their own personal self interests maybe something could be accomplished. I do understand that companies are in business to make money--not a difficult concept-but there should be more considered than JUST that. A little resurrection of "civics" perhaps??-Scott

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