Comments on: Business of America is not consumption http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/ Tue, 24 Mar 2015 16:54:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: hsvkitty http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-328 Wed, 01 Dec 2010 19:10:07 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-328 Gotthardbahn, the shift of manufacturing was because of labour greed? *laughs*

Labour costs in a country were supply and demand. Nafta was supposed to increase the flow of trade, not to get cheap labour. (supposedly…)

Sweat shops in America are illegal and yet still legal elsewhere, so the greedy businesses who moved did so for cheap labour AND also because their emission problems and environmental concerns were encroaching so now those are other countries problems!

Although the rich and Wallstreet quickly shrugged off the recession, and economist models were quick to declare it over, the repercussions and monetary hardships are still very real and in effect going to hurt for another 10 years.

There is no innovation and industry in America. the only thing expanding is your waists and the only thing exceptional is how ineffectual America has become other then making false markets on wallstreet. Oh and making war…

It ain’t over ’til it’s over, Gotthardbahn.

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By: doctorjay317 http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-323 Mon, 29 Nov 2010 01:41:02 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-323 “soon the govt will have to cut back dramatically to rein in the debt. this will add to both public and private sector unemployment and the reduction of various subsidies will take away further spending power.”

This is exactly what the multi-layered administration cannot really meaningfully achieve.

And history has almost falsely guarantee the American public that things will bounce back sooner or later.

WRONG. This time is very different. The great U.S.of A. will realize it too late and will be relegated to a position not even the worst nightmare can portray. If you believe QE can solve today’s quagmire, GOOD LUCK!

Americans have been pampered for too long and it’s payback time.

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By: Williamwyzyx http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-322 Sun, 28 Nov 2010 03:58:34 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-322 “consumption accounts for more than 70 percent of gross domestic product”
It doesn’t take a math wiz to see that we’re consuming more than twice as much as we’re producing. How does someone consume more than they produce?
Beg, borrow and steal, that’s how.
The 70 percent bubble is what burst and nobody is going to reinflate that bubble.

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By: capinfergie http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-320 Sat, 27 Nov 2010 23:43:14 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-320 If you live in an average non-Washington town in America, you know things are not right. The jobs have left, actually started over 10 years ago, the buying power of the average American is compromised, the future of our children is not clear and we continue to argue about the cause. It does not matter who messed things up, we just need to get manufacturing and new technology back in the USA and put our people to work with self respect. Saft is correct in his assessment of what is happening to us. We need to stop the posturing.

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By: incatrail212 http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-319 Sat, 27 Nov 2010 21:35:48 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-319 Peru Restaurant Sumaq
Likewise, the restaurant Sumaq is committed to promote the folklore and the region of Cusco, so every Saturday organizes the live performance of different artists from our region.
The area in South America known today as Peru was once part of the great Inca Empire as were parts of Ecuador, Bolivia, Chile and Argentina.
http://www.sumaqcuscorestaurant.com/

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By: BonzaiBetty http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-318 Sat, 27 Nov 2010 19:47:24 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-318 I am getting really tired of people who have money and no worries going around pretending the economy is fine and going to great lengths to cover up the truth. We have no jobs here, and so lots of people are being forced to go back to school, only to have tuition fees raised on them. Its insane. Ive been unemployed for years now and unable to even get my foot into the door at even the lowest of jobs. We need industry in this country and im sorry but unions may me corrupt and greedy in their own way, but without a union you arent even entitled to a lunch break or even a decent work environment. This country should not be going backwards, we need to make a living wage and stop allowing for the cost of living to skyrocket without minimum wage doing the same. This isnt a 3rd world country, so we should stop expecting Americans to give up their rights in order to work.

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By: shivers1 http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-316 Sat, 27 Nov 2010 09:17:05 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-316 american companies have been increasingly making their goods and even providing their services overseas. Their profitablility has increased at the cost of increased unemployment at home.
so how are american consumers getting money to spend other than borrowing. by holding shares of american companies manufacturing and selling abroad and ofcourse from the government.
soon the govt will have to cut back dramatically to rein in the debt. this will add to both public and private sector unemployment and the reduction of various subsidies will take away further spending power.
it is a negative spiral for america but not neccesarily for american companies provided the markets in emerging countries take up the slack from america (and europe)

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By: Iterate http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-315 Sat, 27 Nov 2010 06:36:13 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-315 James Saft is correct as unfortunate as it may seem we have all but maxed out our respective leverage. The basic disparity in consumption vs. production trends are all but insurmountable given the current situation we would need some breakthrough in science/technology to rival the invention of the wheel as a saving grace.

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By: saucymugwump http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-314 Fri, 26 Nov 2010 23:48:28 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-314 Gotthardbahn wrote: “You believe one and not the other”

I believe in ball park figures and generally accepted norms. No one is saying that unemployment in the USA has changed for many months, while everyone is saying that Germany’s unemployment is drastically reduced. Germany is the #2 world exporter, while the USA is falling fast. It is you that lives in a fairy tale.

Gotthardbahn wrote: “U6: Sure, whatever”

Just because your bias does not allow you to understand it does not make it any less valid.

Gotthardbahn wrote: “because unionized American labour got greedy”

That’s certainly one factor, the only one Fox News viewers understand. There’s also government support of outsourcing. Read “Rules for Congress Curb but Don’t End Junkets” at
http://www.nytimes.com/2009/12/
07/us/politics/07trips.html
for just one example. The part about Danny K. Davis is the best.

Gotthardbahn wrote: “Boeing will welcome the competition”

You have your blinders screwed on very tight. China has stolen many German industrial secrets and coerced others. Try reading the below Der Speigel stories:
http://www.spiegel.de/international/
world/0,1518,713478,00.html
http://www.spiegel.de/international/
world/0,1518,692969,00.html

and view the following Deutsche Well video:
http://www.youtube.com/user/
deutschewelleenglish#p/u/4/UL4EvWyBHZg

and read the following Guardian story:
http://www.guardian.co.uk/world/2009/
jul/22/germany-china-industrial-espionag e

and read this story from Parameters, the U.S. Army War College:
http://www.carlisle.army.mil/USAWC/
Parameters/Articles/2010summer/Thomas.pd f

But I don’t know why I bother. Your mind is closed to anything that does not meet your preconceived notions.

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By: Gotthardbahn http://blogs.reuters.com/james-saft/2010/11/26/business-of-america-is-not-consumption/comment-page-1/#comment-313 Fri, 26 Nov 2010 19:56:40 +0000 http://blogs.reuters.com/jim-saft/?p=196#comment-313 saucymugwump: Oh please.

Regarding German unemployment: So you dismiss US government employment figues yet you wholeheartedly embrace German government employment figures. You believe one and not the other, in line with your preconceptions. Interesting.

U6: Sure, whatever. Perhaps if American students graduated from high school – assuming they even finish – being able to at least read and write, perhaps employers could hire them.

Factories are being built overseas because unionized American labour got greedy and killed the golden goose. Face reality.

As for this Chinese aeroplane: Aircraft is one of the few things that American manufacturing does right and customers will recognize that. Boeing will welcome the competition as it will make their products look even better. Airbus? Talk to the airlines that had to replace the engines on the new Airbus ‘flying hotel’.

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