Hope and Change! And Obumble's "Green" policies in action. Ow... my wallet.
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| -Short Attention Span Theater- |
| US inflation rates for Fuel and Utilities highest since Obama sworn in |
| 2011-09-16 |
Hope and Change! And Obumble's "Green" policies in action. Ow... my wallet. |
| Posted by:DarthVader |
| #6 At what rate of increase and for how many years would it take for Chinese wages to equal, say, 50% of US? Then do we repeat the whole cycle w/ India? |
| Posted by: Eohippus Phater7165 2011-09-16 21:59 |
| #5 China's labour costs have gone up, along with general inflation. Latest I read they are losing manufacturing to Bangladesh, among others. |
| Posted by: trailing wife 2011-09-16 19:48 |
| #4 We have a trade deficit and a declining dollar (meaning we aren't exporting anything thanks to the regulations which is chasing jobs by the MILLIONS out of the country.) It's due to the huge wage disparities and wide open borders. You can zero regulations and it would have little effect on the merchandise and services trade deficit. Why would an international minded capitalist pay an American 20 or 30 times someone in China when you can ship the same production equipment (or telecoms or computing equipment), pay a 2% import tariff and keep the difference as profit? The question is why are there any jobs that are not directly tied to location remaining in the USA at all? And there are countries with even lower wages, like India, Vietnam or Bangladesh to exploit. According to research published in the Monthly Labour Review of the US Bureau of Labour Statistics in April 2009, compensation of Chinese manufacturing workers was only $0.81 per hour in 2006—just 2.7% of comparable costs in the US, 3.4% of those in Japan, and 2.2% of compensation rates in Europe. While these figures are now out of date by nearly four years, they underscore the magnitude of the gap between China and the developed world—and how difficult it would be to close that gap even under the most excessive of Chinese wage inflation scenarios. Where it would help is energy, where there laws and regulations in effect deny certain forms of domestic energy production. |
| Posted by: Eohippus Phater7165 2011-09-16 16:51 |
| #3 Dysfunctional ruling class can't grasp the basics. Sure they are: "It will belong to everybody, but somebody will have to take care of it for everybody. That will be you and me." H. Beam Piper A slave is a slave |
| Posted by: g(r)omgoru 2011-09-16 12:20 |
| #2 (meaning we aren't exporting anything thanks to the regulations which is chasing jobs by the MILLIONS out of the country.) There's a worldwide food shortage, but we're converting ours into fuel rather than drill our own oil. If we did drill our own, there'd be less import and more export. Dysfunctional ruling class can't grasp the basics. |
| Posted by: Procopius2k 2011-09-16 11:26 |
| #1 Every conceivable metric for economics has gone sideways. We have a trade deficit and a declining dollar (meaning we aren't exporting anything thanks to the regulations which is chasing jobs by the MILLIONS out of the country.) We have rising energy prices (Global warming is a scam, Solydra should make that clear) and we have millions of people out work due to a choking blizzard of paperwork and regulations that has brought most businesses that want to remain in the US to a standstill. Do we have to mention Obamacare and the disasterous effects that is having on the jobs market. Everything this administration does is counter intuitive. It has to be deliberate. There is no way they are this incompetent. Putting on my conspiracy theorist hat, it is almost as if they want riots in the streets. Then they can declare martial law and try to stop the elections and put Obumble up as a North American Chavez. You do not spend your way out of a Depression and you don't tax your way to prosperity. Most of Europe has found that out. Let's call a spade a spade, this is a DEPRESSION. By any economic definition, the combination of inflation, joblessness, and lack of economic growth in our economy, its a depression. And for the life of me I don't understand how you can have a shrinking economy, high unemployment AND high inflation. |
| Posted by: Bill Clinton 2011-09-16 10:56 |