The only way to turn around US economy is Job, Job, and Job. How to get the jobs back from China and India? It is simple, and you don't need Doctor's degree in economics to figure this out, a lot of Chinese officers have high school degree, and they can do it, the Bubble Ben and Washington economist couldn't figure out, Bubbles just create QE2, QE3, QE4, this can't be understood by normal American people, they just try to fool all of us, this creates inflation, including high oil price, high food cost, and so on. Do this help on job creation? No. The extra money only goes to stock market, and goes to China to invest in China or other countries. US factories won't hire people, because this is no demand. US congress keeps pushing China to increase their currency, this won't help to create jobs, only make our daily stuff more expensive, a shirt used to be $10, now it is $15, later will be $20, you may argue with me on this point, read on you will know the solution. American government keeps on giving money to low-income people, this encourage laziness and being not honest, I know many people around me to have their children in college without paying a penny, and their children driving BMW, Mercedes, so wrong, I have to pay $50,000 per year for my child. On and on, there are a lot of unfairness. We are in deficit not because our tax is low, but because we spent too much and wasted. Back to jobs, this is the solution, 1. We should keep the low end job in China, such as manufacturing toys, clothing, and daily low-end products, this will keep our living cost low, at the same time, US workers don't want to do this. 2. Any high-end jobs need to come back to US. We need to dramatically increase duty on computers, iPhone, network equipment, and so on imported from China or whatever countries, Intel, Dell, HP, Apple, .... all of them need to bring job back to the States, otherwise, they will face high charge by government. Also, you have experience with banks, when you call Chasebank, the service people are from India, government needs to charge $3,000 per person per month for hiring any oversea employee. Some people may argue we belong to WTO, we can't increase duty on the import goods, let me give you an example how Chinese government handles this, basic Lexus price is about $40,000 in US, but it costs $120,000 in China, when you import cars from foreign country, Chinese government charge 200% of fee for the license, which blocks all the imports. So GM has to go to China to set up factory, which will create jobs for China. 3. We have to cut spending significantly, includes free money to college, free money for food, free money to see doctors, and reduce taxes for the employers who creates jobs. Sorry for the broken English, but we need do something to save America, just QE won't change the essence.
jobs is one of the end result of economic growth. Alone it means nothing. Without it there is no prosperity. The commies always achieved 0% unemployment and almost 100% use of the labor force. Did that generate any prosperity/?? Any growth/?? Wealth??? Review your prescription about jobs my friend.
Tax cuts create jobs? That tax cut back in 2004 - the repatriation holiday - sure did see a lot of jobs being cut - ie Merck cutting 7000 jobs. Companies are sitting on mountains of cash already, they don't need tax cuts to "create" jobs.
Hi Jueco, agree with you, job is the end result of economic growth. Now our problem is no economic growth, why no growth, because all business sent oversea, if you visit China, you will see the prosperity and growth, everywhere is expanding, construction, Wealth, a lot of people are very rich. How can they get to this point? Because US shift all the jobs, more accurate, manufacturing to there, now what left for us, Healthcare? Service? Google?
Hi Covertiblity, my point is to encourage the employer who bring jobs to US, create jobs locally, and punish the companies who make profit from cheap labor by exporting jobs oversea.
Then all the manufactures will be back to the States, however, we don't want them all back, we want the high-end products made here, this is our advantage; at the same time, we want to enjoy the low price of low-end products from them, you don't want to buy a toy for your kids at the price of $200 instead of $20; you don't want the polluted factories sitting around your living area.
The only way to turn the economy around is to find several Saudi Arabias worth of cheap oil. Everything else is just pissing in the wind.
"Exporting America" Yeah that's right. Good Point. Any private growth in the past 10+years has been killed by excessive Fed and Government involvement in the Economy. Letâs not forget corporate welfare or corporatism. Our double deficit is only sustainable if we pump money into the system. Our military and imperial agenda is bankrupting us. Between 1945 and 60s this country engaged in massive highway buildings, cities, military race, NASA and many more. America accomplished all of them with high tax rates, a competitive industry, and better governments. Well, I guess you know that we donât have space shuttles anymore.
The US economy cannot be rejuvenated any more than a 60-yr old can recover his youth. There is no "solution", and nobody wants to hear that best we can do is slow our demise.