tag:blogger.com,1999:blog-58211302011-04-21T21:18:47.835-07:00America's Economic RenewalWill America protect and grow its job base or will it suffer the same fate as the British Empire (a slow fade into obscurity)?
Democrats, Republicans, Independents - Everyone is welcome (especially if they desire to rebuild America's economic strength).Willnoreply@blogger.comBlogger291100tag:blogger.com,1999:blog-5821130.post-1086035887692907772004-05-31T13:34:00.000-07:002005-01-22T17:03:36.900-08:00While I consider myself a Republican (although a moderate one), I can not understand the drive to cut taxes on the very wealthly. They will just spend this money on more Mercedes and other imports. This does little to boost the US economy and overall US job growth. It would make more sense to cut taxes on small businesses as they employ Americans (versus large companies that have many Willnoreply@blogger.com5tag:blogger.com,1999:blog-5821130.post-106976884090608912003-11-25T06:00:00.000-08:002003-11-25T06:01:11.686-08:00This is an interesting Op-Ed piece in the NY Times today entitled “Refuting the Cynics” on page A27. It talks about how immigrants are helping the American economy. It discusses how immigrants are generally young and how their hardwork (and taxes) will allow us to partially offset the cost of the baby bommer generation when it gets old. An interesting paragraph states “Working off U.N. and U.S. Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1068931780782135632003-11-15T13:29:00.000-08:002003-11-16T15:28:28.106-08:00You might find this AP article interesting as it discusses how our national parks are vital to the economy. It states "The National Parks Conservation Association, which released the study, said it shows that visitors to the nation's national parks spent $10.6 billion a year, supporting 212,000 jobs." This number seems too small to me. It probably doesn't include indirect jobs (such as jobs at Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1068748299723548222003-11-13T10:31:00.000-08:002003-11-13T10:31:58.450-08:00The Wall Street Journal ran an article today called "India Aims to Calm US Outsourcing Fears" on page A4. Given the furor over the loss of high-tech jobs (i.e. computer software engineering positions) to India, the Indian government is paying US lobbyists to argue that outsourcing to India is a positive for the US economy. The article states that Indian government is attempting to counter US Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1068590002002795442003-11-11T14:33:00.000-08:002003-11-11T14:34:03.643-08:00Following up on my last comments about the futility of states paying to "protect" jobs, the NY Times ran an article yesterday called "States pay for jobs, but it doesn't always pay off" (on the front page). The article discusses how many companies walk away from projects and jobs once state/local subsidies end. Here is a link to the article (I think you need to register in order to read it but Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1068171085164013682003-11-06T18:11:00.000-08:002003-11-06T18:12:05.833-08:00Okay I am back... still without a job but I am back! :)
I am always amazed that state and local governments will spend millions to prevent a large company from moving. These firms are just committing highway robbery in order to get a sweet deal. Once the incentives end, they move anyway.
Wouldn't it be better to put this money into state-run venture capital funds. The money would go to create Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1067613792300674902003-10-31T07:23:00.000-08:002003-10-31T07:23:11.200-08:00I apologize for not posting anything so far this week. My whole department was laid off so I have been focusing on getting a job. At least my family is healthy & happy so things are not too bad.
More from me next week on the US economy.
While you are waiting for me to get my act together, you may find this outsourcing article from MSN interesting. It discusses the jobs that are most vulnerable Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066998481972886892003-10-24T05:28:00.000-07:002003-10-24T05:28:01.780-07:00There is a bill winding its way through Congress that should help the economy and generate some decent job growth. This legislation was initiated because the Europeans are forcing us to end an export assistance program because it violates WTO rules (an international trade agreement). Nevertheless, they can freely give subsidies to Airbus in order to compete with Boeing. The Europeans irk the hellWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066920478222107362003-10-23T07:47:00.000-07:002003-10-23T07:48:48.330-07:00Crazy at work this week so I will be brief today.
Another state official is in the news for attempting to stop the outsourcing of jobs overseas. Pauline Menes (a state delegate from Maryland) has introduced legislation that would ban Maryland state agencies and contractors from exporting white-collar jobs (computer technicans, data processing, engineering, etc.) to other countries.
Here is a Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066739990377896502003-10-21T05:39:00.000-07:002003-10-21T05:41:43.110-07:00I wrote to the President and a number of his Democratic challengers in order to encourage them to boost R&D spending in the US (in order to protect our technological & industrial base and to create more highly skilled jobs in the U.S.). The only person to reply to me was Senator Lieberman (his website).
In his letter, he stated "I share your view that innovation and investment is the key to our Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066653355719481252003-10-20T05:21:00.000-07:002003-10-20T06:02:02.623-07:00In this week's Business Week, they talk about how we are not losing jobs but rather just shifting them around. On page 42, they have a list of the occupations losing & gaining jobs. The losers - manufacturing, wholesaling, telecommunication services, computer systems design and related services, air transportation, securities and investment and Internet publishing & broadcasting. The winners - Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066554606112175182003-10-19T02:10:00.000-07:002003-10-19T02:10:06.103-07:00As expected, China today rejected President Bush's call to revalue the Yuan. The Chinese President Hu Jintao stated that "holding the yuan steady suited China's economic development." As I stated on Friday, the Chinese aren't going to do anything that might limit their economic success. Nevertheless, given our $100+ billion trade deficit with China (and the resultant loss of millions of American Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066396018366010242003-10-17T05:47:00.000-07:002003-10-19T03:01:23.363-07:00President Bush is on a 9-day trip around Asia. Among other things, he will discuss the artificial weakness of the Japanese Yen and Chinese Yuan. Remember we have huge trade deficits with these two countries as their products are "cheap" due to a strong dollar.
However, the Japanese have just offered $1.5 billion to help rebuild Iraq and is considering sending troops to help our efforts in that Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066240187029993522003-10-15T10:49:00.000-07:002003-10-15T10:52:27.760-07:00Remember not all foreign companies are evil. Some are only partially evil. :)
Most foreign companies produce their goods overseas and employ only a relatively few American marketing & sales personnel in order to promote their product in the US. Nevertheless, a few foreign firms produce their products in America. They employ sales & marketing people, production personnel, R&D staff, etc. MoreoverWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1066047487512613382003-10-13T05:18:00.000-07:002003-10-13T05:24:16.316-07:00Just a quick note to thank Congressman Hunter for his efforts to boost US job growth in the defense sector.
Congressman Hunter (a Republican from California) is proposing a change in defense spending so that more funding goes to US companies (versus foreign suppliers & subcontractors). He wants to require that the Pentagon purchase only products with at least 65% of US-made parts. Current Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1065788566566503572003-10-10T05:22:00.000-07:002003-10-10T05:28:45.100-07:00Today's Wall Street Journal had an ominous statement from Andrew Grove, the Chairman of Intel. According to the article (on the front page), he stated that "the U.S. could lose the bulk of its information technology jobs to overseas competitors in the next decade, largely to India and China."
Given Intel's leading position in the tech sector, this should be a wake-up call to politicians that theWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1065721937127313222003-10-09T10:52:00.000-07:002003-10-09T10:55:13.800-07:00We allow charities and endowments (i.e. college endowments) to make tax-free investments as they are beneficial to society. However, in order to make things "fairer" for ordinary citizens who pay taxes and enhance their "return" to society, these organizations should be forced to invest only in US securities, bonds, etc. This would force money back into the US capital markets and would help Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1065446171232788532003-10-06T06:16:00.000-07:002003-10-06T06:16:11.166-07:00We need to cut taxes and regulations on small and medium sized US firms because they are the biggest creators of new US jobs. Unlike large multinational companies, they do not have operations in dozens of foreign countries and do not employ thousands of foreign workers. Generally, every dollar that these small companies receive in tax relief will be used to purchase products/services sold in Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1065115046484402662003-10-02T10:09:00.000-07:002003-10-02T10:19:21.813-07:00A little off topic but the Intrepid Museum is running a very worthwhile campaign to help our servicemen & women. The families of the 9/11 victims are receiving millions because their loved ones were in the wrong place at the wrong time. However, our Marine, Army, Navy and Air Force personnel receive very little when they die in combat (despite willingly putting their lives on the line everyday toWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1065012609658857582003-10-01T05:44:00.000-07:002003-10-01T05:51:40.513-07:00I wrote to Shirley Turner, the NJ State Senator who is leading the fight against outsourcing in her state (see my posting of 9/20/03). Here is her response to my question regarding the progress of her legislation:
Thank you for inquiring about my antioutsourcing efforts. My bill, S1349/A2425, which would prohibit the companies contracted with the State from hiring workers who are not permitted Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1064934407268056942003-09-30T08:06:00.000-07:002003-09-30T12:06:36.706-07:00As a former Marine, I want to say that it is insane to be wasting so many lives and dollars on the Middle East. I am only discussing this issue because it impacts our economy and our job base.
In large part, our actions in the Middle East are taken in order to influence oil prices and to guarantee access to the region’s energy supplies. Rather than spending our country’s wealth on nations that Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1064578364809958002003-09-26T05:02:00.000-07:002003-09-26T05:13:02.156-07:00Even Levi's (whose jeans are synonymous with the American cowboy) is closing its remaining North American manufacturing plants and eliminating almost 2000 jobs. For a company that promotes itself as an American icon, this would be highly ironic if it were not such a travesty.
If you have any choice words for the company, please send them an email.Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1064514486625394282003-09-25T11:22:00.000-07:002003-09-25T11:29:38.840-07:00I don't know if this Reuters article is factual (see below) but it states that we have lost one-sixth of the country's factory jobs. If true, this is a nightmare for the people who have lost their jobs (as it will be very hard for them to find similar industrial jobs paying decent wages) and the nation (as our industrial strength and the nation's tax base will continue to erode).
Reuters articleWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1064423815204534862003-09-24T10:02:00.000-07:002003-09-25T05:11:55.316-07:00Instead of just writing to the President to complain about our country's economic troubles, you might also write to the various Democratic challengers. If they make a huge issue out of US job losses, this will force President Bush to be more proactive on this issue.
Email the President
A few of the major Democratic challengers:
Email Lieberman
Email Kerry
Email Dean
Email Clark
Email GebhardtWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1064055257397317722003-09-20T03:54:00.000-07:002003-09-21T03:18:31.550-07:00Many states are undercutting their own tax base by outsourcing jobs (i.e. call centers and IT jobs) to countries such as India. Only in a few states are politicans trying to protect US jobs.
In NJ, State Senator Shirley Turner seems to be leading the fight. Send her an email to show your support or learn more about the issue - SenTurner@njleg.org
In Michigan, State Representative Steve Bieda Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1063897045421340262003-09-18T07:51:00.000-07:002003-09-18T08:01:44.473-07:00An interesting bill is moving through the House of Representatives. The Crane-Rangel bill would reduce taxes for companies based on how much of their manufacturing is done in the USA. Companies with 100% US production would get the greatest benefit. Write to your Senator/Congressman to support this bill - see the links on the right of this page.
While this is a step in the right direction, we Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1063812134780109092003-09-17T08:19:00.000-07:002003-09-17T08:25:19.103-07:00It looks like US manufacturers are finally waking up to the threat of the Chinese yuan (their dollar) - see the Forbes article below. They are trying to avoid the trade problems that we experienced with the Japanese in the 80s and 90s.
The Chinese keep their currency artificially weak by pegging it to the dollar (and not allowing it to move up or down). This gives their exports a big advantage. Willnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1063743563507586602003-09-16T13:05:00.000-07:002003-09-16T13:25:09.106-07:00While Wal-Mart, Target, Home Depot & others are great American companies, they are also accelerating the decline of our industrial base. As they strive to lower their costs (and the prices for consumers), they are purchasing more & more goods from overseas. Their drive to lower prices is wonderful for American consumers but terrible for American jobs and businesses.
If Americans are not employedWillnoreply@blogger.com0tag:blogger.com,1999:blog-5821130.post-1063736228702509942003-09-16T11:15:00.000-07:002003-09-16T11:17:08.630-07:00My fear for America's future (and my family's future) has driven me to create a "blog" which will highlight the economic problems faced by this nation but also promote solutions to solve these problems.Willnoreply@blogger.com0