Comments on: Counterparties: Obama’s hypothetical middle-class tax hike A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: realist50 Sun, 29 Apr 2012 21:15:06 +0000 The summary of the WSJ article here says “Multinationals are increasingly cutting U.S. jobs – and making more money overseas”. That’s not what the article says.

Actual quotes from the WSJ article –

“[These companies] boosted their employment at home by 3.1%, or 113,000 jobs, between 2009 and 2011, the same rate of increase as the nation’s other employers. But they also added more than 333,000 jobs in their far-flung—and faster-growing— foreign operations.”

“Economists who study global labor patterns say companies are creating jobs outside the U.S. mostly to pursue sales there, and not to cut costs by shifting work previously performed in the U.S., as has sometimes been the case.”


“The Journal’s results are consistent with more extensive surveys by the U.S. Commerce Department, which found that U.S.-based multinational companies added jobs in the U.S. between 2004 and 2010, but added far more jobs overseas. That partly reversed the trend between 1999 and 2004, when the department said U.S.-based multinationals cut jobs in the U.S. while adding them overseas.”

By: Curmudgeon Sat, 28 Apr 2012 18:33:56 +0000 Gotta agree with Justin Fox regarding our present low levels of innovation.

By: MrRFox Sat, 28 Apr 2012 07:54:31 +0000 @KenG – I’m trying to save the patient from the quacks who are quickly quacking all of us into a mass-grave. To do that might maybe require putting quite a few of the quackers in their graves. But I take your point – I’ll try and lighten up; maybe a Sam Peckinpah flic will chill me out.

Have a good weekend.

By: KenG_CA Sat, 28 Apr 2012 06:33:13 +0000 Yeah, but Paris Hilton doesn’t get to set economic policy.

I don’t think they deserve that kind of treatment, they’re just tools. Politicians that want to cut taxes will trot out economists who say that it will solve all problems, and politicians that want to spend money will do the same. The problem is with the people who believe all of their nonsense.

MrFox, you’ve got to lighten up. Killing the patient will cure the illness, but then there’s no patient left to pay the bills.

By: Chris08 Sat, 28 Apr 2012 06:30:42 +0000 Well the point is not to get rid of the deficit entirely but to lower it. Simply going back to the Clinton rates before Bush’s cuts plus ceasing to spend so much on military adventures abroad would do enough to put the nation on a viable course re the budget.

By: MrRFox Sat, 28 Apr 2012 05:05:56 +0000 @KenG –

Of Hubbard you asked – “How does this guy still earn a living as an “economist”?”

Well, what else do you expect him to do? – it’s not his fault people are dumb enough to pay attention (and money) to him. You could say the same about Paris Hilton, or about all economists, as the “Wonks” items mistakenly tries to do with these words –

“In the real world, they (economists) can’t wriggle so easily out of responsibility for the bad ides that they have so often spawned.”

Says who? Best I can tell, economists have never been called to account for the tragedies they have orchestrated. IMO, it’s long past time to honor the ideal expressed by Mario Puzo –

“… a man who gives the wrong counsel is as hated as any enemy.”

Economists, among others, deserve something like this, don’t they? – s8

By: KenG_CA Fri, 27 Apr 2012 23:17:27 +0000 Hubbard was Bush’s economic adviser. Why would anyone care what he has to say? How does this guy still earn a living as an “economist”?