The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Is your 401(k) Inadequate For Retirement||Date: 7/30/2008 5:29 PM|
|Author: putnid||Number: 13751 of 20228|
And here I thought we were losing manufacturing jobs because the labor costs were too high in the U.S. - Howie52
I'm not sure I quite get your point. Yes, we are losing enormous amounts of our manufacturing base to nations that provide labor at a $1/hour (or less). Our corporations have been most succesful in shifting manufacturing to the lowest labor cost nations available (oftentimes without reducing the price of the goods sold to US consumers...think Nike).
Some have argued that's a good thing. I'm still trying to wrap my mind around all of the implications.
What I'm talkin' about isn't overseas manufacturing. There are jobs, a heckova lotta jobs, that can ONLY be performed here in the good ol' US of A. Construction, service, agriculture...all manner of jobs that can't be outsourced. I'm talkin' 'bout those jobs. Jobs once performed by American workers, jobs once performed by union labor, jobs once performed for higher wages than the wages paid today. We've seen a HUGE influx of illegal immigrants who've displaced American workers (while this administration has turned a blind eye...well...with a wink and a nod, actually). We've seen executive compensation grow by double digits year after year after year, while these same executives slash salaries and benefits for their labor force claiming, all the while, that it is vital to do so when competing in the international arena (never mind that our CEO's "earn" about four times more than their EU competitors).
That's what I was talkin' about. What's your point?
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|