Economy in the U.S. slams on the brakes

[BlancoNino]

Originally posted by: ProfJohn
Craig, outside of calling for the election of people other than the ones in charge now. Do you have specific policies that we should adobt?

Real easy to say 'vote for me becacuse I can solve all your problems'
Much harder to convince people that your solutions will actually work.

New Democrat Slogan: Vote Democrat Vote and all your wildest dreams will come true.

That's not new. The dems have been playing Santa Claus for years.

 

[Craig234]

They would undo the imbalancing policies. They would reform the corrupt spending which directs the nation's treasuries into unneeded industries who are politically powerful, and back into the common good - infrastructure, education, healthcare, anti-poverty. They would set the nation back on a painful course of fiscal responsibility and prevent the disastrous course of bankruptcy.

John, first, as I said, it does simply come down to whose interests the people are representing. When it's the ultra wealthy, the policies that may come out can include anything from income tax cuts for the wealthy, to the end of the estate tax, to labor policies which lower wages and increase profits - but they all have the same net effect for the wealthy.

And leaders who represent the larger public can have a lot of policies but what's important is how they affect the nation.

I tried to add a touch of detail as well:

They would undo the imbalancing policies. They would reform the corrupt spending which directs the nation's treasuries into unneeded industries who are politically powerful, and back into the common good - infrastructure, education, healthcare, anti-poverty. They would set the nation back on a painful course of fiscal responsibility and prevent the disastrous course of bankruptcy.

Beyond that, we get into wonk-speak about specific tax credits to increase or decrease, other tax adjustments, labor policy, on and on which I think is neither good reading nor keeping the cart behind the horse - what we need is the political support for the right group, the rest is not nearly so important now.

It's not that I want to fall back on 'vote for our party because it's for prosperity' - the same empty slogan promised but not fulfilled by 25 years of republicans - as that I"m trying to make the point that I think the key issue is simply whose interests will be represented. And I'm not a wonk to ramble on tax credits anyway.

I can ramble on some big picture issues a moment, though - for one, I think there is huge waste because of the corruption in the military-industrial revolving door, and we need to fix that and free up a lot of money. I'd raise the floor on the estate tax and keep it in place. This money could end borrowing from social security and fix its issues.

I'd ask economists to create a *balanced* economic plan which finds a way for America to be competitive in the increasingly global economy while protecting our own wealth. Free trade agreements which harm workers excessively and cripple elected governments' powers to regulate would be abolished.

A small amount of returning to some government-run things would be evaluated where it makes sense, ending the ideological phobia we have of programs that work great.

Taxes would be set at a balanced level which would return the nation to a healthier distribution of income, while preserving healthy rewards and incentives for our capitalist engine, as we should. Economic planning would be longer term, not aimed at rewarding a small segment now as a reward.

Tax dodges letting hundreds of billions leak out for the most wealthy would be closed.

There is a lot of wealth in the nation for the average citizen, and for investing in the nation's growth, if the spending priorities are fixed.

 

[techs]

Originally posted by: Pens1566
Time for more TAX CUTS!!!!!

Right on!!!

 

[Jeff7]

Originally posted by: ProfJohn

New Democrat Slogan: Vote Democrat Vote and all your wildest dreams will come true.

Versus the Republican Slogan: Vote Republican or the Democrats will pay terrorists to kill you.

 

[dmcowen674]

Originally posted by: ProfJohn
Craig, outside of calling for the election of people other than the ones in charge now. Do you have specific policies that we should adobt?

Real easy to say 'vote for me becacuse I can solve all your problems'
Much harder to convince people that your solutions will actually work.

New Democrat Slogan: Vote Democrat Vote and all your wildest dreams will come true.

Well they sure haven't come true under the Republican regime unless you are in the rich class.

 

[conjur]

Was Q3 GDP growth manipulated upwards because of the coming elections or is the US government clueless about measuring output?
http://www.rgemonitor.com/blog/roubini/154588

 

[WhipperSnapper]

Originally posted by: BlancoNino
We're too good to manufacture anymore. I look at it as a sign of an improving and upgrading economy.

Unfortunately, we're also too good to do computer programming, engineering, science research, patent drafting, financial analysis, legal research, and even nursing.

I say that because those are just some of the formerly middle class jobs that are being outsourced to India and China or that are being outsourced in the form of importing foreigners on H-1B and L-1 visas.

Exactly what Americans will be able to do to maintain a middle class standard of living, I don't know.

 

[compuwiz1]

Maybe this is related, maybe not. I was at a Taco Bell last night, and the gals at the counter were talking about how many people were only ordering 1 item, and how many were paying with dollar bills and pocket change, compared to people ordering multiple items, and paying with $20 bills.

 

[WhipperSnapper]

Originally posted by: Jeff7

Trade winds up benefiting everyone, because it allows for specialization, which improves overall efficiency. You want the USA to have a strong economy? We've got to focus more on making ourselves useful to the world. Math and sciences are critical. Engineering is important, as is research and development investment, to allow us to remain competitive. China has low labor costs. Ok, so does a machine. Put in the R&D time to make an efficient machine, and we can have just as much productivity as cheap human labor.

What makes you think that America has a shortage of scientists and engineers? Did you know that we actually have a huge oversupply of scientists with PhDs? Do you have any idea what a Postdoc is ???

A Postdoc is horrible. Imagine having spent 4 years to earn your undergraduate degree and six years to earn your PhD without earning any more than $15,000/year as a teaching assistant. Guess what your reward is? You can now work as a Postdoc--a gypsy scientist working a 2 or 3 year assignment that pays about $30,000/year often with no benefits! Maybe one day you'll get lucky and beat out the other postdocs for a job as a professor or a job in industry as a researcher.

We have too few scientists ??? Tell that to the severely underemployed and underpaid postdocs.

I have news for you. America does NOT have a monopoly on innovation and research ability. Guess what? Those Chinese and Indians can do innovation and R&D too for a fraction of the price!

Any way you slice it, Global Labor Wage Arbitrage is an economic force that will not go away by throwing education (the politicians' and the media's opiate of the masses) against it.

 

[WhipperSnapper]

Originally posted by: compuwiz1
Maybe this is related, maybe not. I was at a Taco Bell last night, and the gals at the counter were talking about how many people were only ordering 1 item, and how many were paying with dollar bills and pocket change, compared to people ordering multiple items, and paying with $20 bills.

Count me in as one of those cheapskates who never order overpriced sodas and just like to eat off the value menu.

 

[Jeff7]

Originally posted by: WhipperSnapper

Originally posted by: Jeff7

Trade winds up benefiting everyone, because it allows for specialization, which improves overall efficiency. You want the USA to have a strong economy? We've got to focus more on making ourselves useful to the world. Math and sciences are critical. Engineering is important, as is research and development investment, to allow us to remain competitive. China has low labor costs. Ok, so does a machine. Put in the R&D time to make an efficient machine, and we can have just as much productivity as cheap human labor.

What makes you think that America has a shortage of scientists and engineers? Did you know that we actually have a huge oversupply of scientists with PhDs? Do you have any idea what a Postdoc is ???

A Postdoc is horrible. Imagine having spent 4 years to earn your undergraduate degree and six years to earn your PhD without earning any more than $15,000/year as a teaching assistant. Guess what your reward is? You can now work as a Postdoc--a gypsy scientist working a 2 or 3 year assignment that pays about $30,000/year often with no benefits! Maybe one day you'll get lucky and beat out the other postdocs for a job as a professor or a job in industry as a researcher.

We have too few scientists ??? Tell that to the severely underemployed and underpaid postdocs.

I have news for you. America does NOT have a monopoly on innovation and research ability. Guess what? Those Chinese and Indians can do innovation and R&D too for a fraction of the price!

Any way you slice it, Global Labor Wage Arbitrage is an economic force that will not go away by throwing education (the politicians' and the media's opiate of the masses) against it.

How about engineers? Ok, fine, we've got plenty of scientists. As I understand it, they produce theory behind things, then engineers turn it into a usable product. With a surplus of science, ok, we know exactly how things work, and why they work, but they don't work, because it's mostly just theories.