Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (71) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: putnid Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Re: Is your 401(k) Inadequate For Retirement Date: 7/30/2008 5:29 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 8
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?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (71) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement