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Title: "China's economy roars on..." US = 9.1% Unemployment Post by: WhiskeyGirl on June 05, 2011, 12:07:52 AM "How China owns $1.2TRILLION of American deficit"
Quote China's economy roars on, while the Asian powerhouse holds $1.1449trillion in U.S. debt. That's actually down a bit since last October, the high point, when China owned $1.1753trillion of the U.S. deficit. Read more: http://www.dailymail.co.uk/news/article-1394315/China-unloads-97-cent-short-term-U-S-Treasury-debt-owns-1-2TRILLION-American-deficit.html#ixzz1ON4OqHHP (http://www.dailymail.co.uk/news/article-1394315/China-unloads-97-cent-short-term-U-S-Treasury-debt-owns-1-2TRILLION-American-deficit.html#ixzz1ON4OqHHP) Why isn't the US economy roaring on? Title: Re: "China's economy roars on..." US = 9.1% Unemployment Post by: nonesuche on June 06, 2011, 08:28:58 PM Hi WG - it's simple, China has many of our manufacturing and now technology operations. US based companies like IBM are now only figureheads in the US with skeletal staff, they don't even pursue US based companies as customers anymore - they want the Asia market. IBM was sanctioned and fined by the SEC recently for bribing Korean officials for business, they happily paid the fines and laughed all the way to the bank.
It's interesting that US economic analysts are finally exposing the bad math in all of the offshoring of the US jobs. US workers are three times as productive as their lesser paid asian counterparts. That said, until Obama removes the tax incentives for these companies to continue to ship our jobs offshore, we can expect this to only continue to degrade our economy. Now the US airline companies are losing most of their profits to the higher gas prices, hard to think of an industry that Obama's total lack of experience hasn't screwed up. Wall Street is evidencing the truth of our dilemma of late and if we aren't terrified of another great depression, we should be. Title: Re: "China's economy roars on..." US = 9.1% Unemployment Post by: WhiskeyGirl on June 07, 2011, 04:18:38 PM Hi WG - it's simple, China has many of our manufacturing and now technology operations. US based companies like IBM are now only figureheads in the US with skeletal staff, they don't even pursue US based companies as customers anymore - they want the Asia market. IBM was sanctioned and fined by the SEC recently for bribing Korean officials for business, they happily paid the fines and laughed all the way to the bank. It's interesting that US economic analysts are finally exposing the bad math in all of the offshoring of the US jobs. US workers are three times as productive as their lesser paid asian counterparts. That said, until Obama removes the tax incentives for these companies to continue to ship our jobs offshore, we can expect this to only continue to degrade our economy. Now the US airline companies are losing most of their profits to the higher gas prices, hard to think of an industry that Obama's total lack of experience hasn't screwed up. Wall Street is evidencing the truth of our dilemma of late and if we aren't terrified of another great depression, we should be. I think the movers and shakers looted Wall Street a long time ago, and left a big IOU in retirement accounts. Why does Washington continue to fund jobs for foreigners? Who's paying the bill? Title: Re: "China's economy roars on..." US = 9.1% Unemployment Post by: nonesuche on June 09, 2011, 01:41:13 PM WG as always, you ask the right questions. I don't have the answers but I will post a link here to those who contribute to the job cuts comments for IBM. Often some very insightful comments regarding how employment laws are twisted and rampantly ignored as "US companies" move jobs offshore without any penalty and to capitalize on not just lower wage structures but also tax incentives - which Obama refuses to repeal yet still blames Bush and the republicans for?
Such a shell game, once again I think Obama and George Soros are in bed together in a mammoth way.... Here is the link, it's well worth the read if you are interested http://www.endicottalliance.org/jobcutsreports.php (http://www.endicottalliance.org/jobcutsreports.php) |