This is exactly right. Awhile ago, someone posted a youtube video of Steve Wynn saying basically the same thing.
Until the big investors feel confident again, we will not see any real job growth.
Let's see what happens in November.
This is spot on.
Higgs says: "Unless the government acts soon to resolve the looming uncertainties about the half-dozen greatest threats of policy harm to business, investors will remain for the most part on the sideline ... consuming wealth that might otherwise have been invested..
However, I saw nothing in the article about the historically low interest rates on savings. Right now I'm sitting on all cash, playing the waiting game. buying only the necessities to subsist. I smell a gargantuan plan to redistribute wealth from those that have some money. Not a fortune, but enough to make life comfortable. Dave Ramsey says it best. Live like no one else , so you can live like no one else.
You could dig ronnie reagan up from the grave and stick him in the oval office and those jobs still aint coming back.
As long as it is cheaper to produce goods in some third world hell hole manufacturers are going to continue to produce overseas.
Yep... they will keep some operations here....go usa.... but for the most part...manufacturing is gone for good and thats the big employer in the USA...at least for decent paying jobs.
Dem, rep, other in charge...it makes no difference.... the tax breaks and other incentives we could give industry are far outweighed by what these foreign nations have to offer.... child labor and no health safety or environmental regulations.
You sing the leftest talking points very well corny. Got it memorized. You ain't fooling anyone except yourself and your fellow Democrats. Thank you very much
Originally Posted by corny
"I could have ended the war in a month. I could have made North Vietnam look like a mud puddle."
"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them. It is not to inaugurate new programs, but to cancel old ones that do violence to the Constitution."
Actually he is closer to the truth than you think. Say you want to make a piece of electronic equipment here. You design a product and want to shop around for parts. Where are they made? China. Now you want to get a box made. You call out to get quotes, you might get a handful here but in China there are a hundred plants ready to fill your order. You need to get it assembled, again they have the skilled labor for that.
Originally Posted by glennac
China is a one stop shop for manufacturing. They have the know how to make stuff. I spent 20 years in production and know there is a wealth of knowledge that kicked around shops that made things. That knowledge is not something that gets taught in engineering schools but is learned by doing production engineering.
Worked in an aerospace firm that cut costs and got rid of a lot of middle managers on the shop floor. They figured since they had the specks written down and instructions how to build the stuff that they could get any monkey to stamp out parts.
The problem comes in when they get some raw materials that are different from the last batch. The old guys could look at it and say we had the same problem 8 years ago and we had to adjust our process this way to get an acceptable result. This is what we lost when production went overseas. Experience.
They bought up a whole plant from another company I used to work for and shipped it over their. I would set up and tweak the packaging equipment because every batch of materials was different. The humidity changes and it throws things off. They once let my partner and I go on holidays during the same week. The plant dropped efficiency from the 90's to under 60% that week. They never let us both go at the same time ever again. Even though they had guys that knew how to adjust things they did not 'know' the equipment. Comes down to experience.
They have it now and we let it slip away. Because of it they are now a step ahead of us when it comes to producing things and can do it with less hiccups.
The comments about manufacturing are only partially true, we still manufacture certain kinds of good here.
But let's pose a question to the board;
Why have certain areas of manufacturing gone to other countries? What are the causes of this? What could we do to reverse the trend of outsourcing?
I'll give my 2 cents as I use to do a good bit of industrail cooling & HVAC in this local area but hardly no more.
Originally Posted by k_fridge
The cost of labor is a big turn off to manufacturers here. And there was no way to reduce labor costs, period.
Research & development has taken a dive around here as more machinery are being, once again, made overseas at a much lower costs.
Ironically and as a side note: when a lot of the local manufacturing closed up around here I use to attend some of the equipment auctions. Guess who was buying, and I'm sure if was for penneys on the dollars, the big expensive machines --- the Japanese and Chinese.
The federal, state and local govt's have been playing a good part in killing this segment of business with their medelling, taxing and regulating companies out of business. And I speak about this first hand.
I don't see how it's going to be turned around just in the fact that even if we brought back half of the companies that have left, where are they going to settle? Their large factories have been dropped or tuned into condo's. The state and Feds pretty much do nothing to give them the incentive to return. Plus we would have to outpace China and Japan that are now in production for just about everything under the sun.
The only hope we have is for us to get the Feds out of our businesses and allow us to invent a better mouse trap again. their is nothing that can replace the individual American when it comes to the spirit of being in business.
"The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
- Alexis de Toqueville, 1835
people used to think "buy American" when they were making a purchase, especially a big ticket one. no more. the walmart business model has infected our people. we don't care where its made as long as its cheap. who else seized on the walmart plan??? goodman manufacturing for one but at least for now there equipment is assembled here. i don't know about you folks, but not many people were beating down my door this summer to buy a system. its cheaper to buy a chinese window shaker for each room. maybe things will get better after november. i sure hope so.
"When the people find they can vote themselves money,that will herald the end of the republic" - Benjamin Franklin
"Government is not reason, it is not eloquence, it is force;like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action"- George Washington
I believe whats going on with jobs being sent overseas has its roots in the early 70's. When Congress and the POTUS were hashing out the Budgets, Millions of dollars were budgeted for Foeign Aid. We used to give money away by the Boatload , in an effort to keep Russian influence out of Strategic Countries.
Then the Berlin Wall crashed to the ground and voters demanded a peace iniative. In order to keep our presence in these areas , we outsorced jobs, in an effort to balance our budget.. The jobs first went to Mexico and other Latin Countries and when labor became cheaper in Asia, those jobs went there.
We are dealing with exactly what we asked for.