CatcherDad99 wrote:Pale Rider wrote:Sooner or later...and after almost $18 trillion bucks in the hole...the USA will fail...and you just think the Depression of the 30s sucked...
Were closer than any of us realize. Plus where will our kids make their money when everything is made over seas. I see it in my line of work all day, every day. These big corporations keep moving more and more jobs to countries where labor is a dollar a month. We need to start charging tariffs to these companies to level the playing fields.
The US was once the "cheap" labor country(Late 1800's -early 1900's) Industrial-labor-intensive jobs always move to the lower cost areas. Japan used to to be low-cost too. As China's middle class increases and its labor cost increase- that too will move. Tariffs are not the answer(unless you really want a depression-see Smoot-Hawley) Industrial jobs are also being eliminated/displaced by automation The issue the country is a gap between the labor needed and the technical skills of the labor force.. There are many high skilled jobs that remained unfilled due to a shortage of engineers etc...
Many companies are moving more of their high level stuff to the US due to our relatively cheaper energy costs- Siemens, Mercedes Most Hondas and Toyotas for the US are made here- Some Hondas are even exported to Japan. We are in a post-industrial world and are now in a high tech error. Whining and waxing poetic about a past that will never happen again is a waste of energy. It makes no economic sense to make cheaper goods here, better to focus on High margin products(The Germans have mastered this)
As far as the debt goes- the current amount is too high, however due to lower rates our national debt burden is actually at one of the lower amounts in history(but we do need to reduce it before rates increase again)- also in the strangest of conundrums-the vast majority of our debt is owed to ourselves
We are in a period of transition-such periods are always difficult and painful. With lots of displacement. Think of the change from agrarian-to industrial. Frankly our kids are in a far better place to adjust than we are. The future is in technology and information