Falling dollar.. Good or bad?

[hugo]

The fact is a weaker dollar is good for US jobs,; Economics 101. The fact is service sector jobs include attorney, physician and accountant. The income stagnation of the last generation is primarily due to corporations battling rising healthcare costs due to government interference in healthcare. Employees are receiving more of their wages in the form of health insurance, lowering the dollar wage. Japan has been running trade surpluses since WWII, their economy has been in the tubes for a generation as they are forced to compete against low chink labor. The US economy smartly moved to the service sector.

 

Germany's unemployment rate is over 8%.

[Old Salt]

The fact is a weaker dollar is good for US jobs,; Economics 101.

I think it is good for the US economy as a whole in the short term. It is definitely good for both manufacturing jobs left in the US.

The fact is service sector jobs include attorney, physician and accountant.

Those are the highest paid in the service sector. Unfortunately, the majority are low paying, dead-end jobs. (Unless you own the service company.)

The income stagnation of the last generation is primarily due to corporations battling rising healthcare costs due to government interference in healthcare. Employees are receiving more of their wages in the form of health insurance, lowering the dollar wage.

Health care has become expensive because of burgeoning costs such as ridiculously high malpractice insurance caused by punitive jury awards. As a major cost, providing health insurance to the worker actually extends the workers' power of his wages - it's one major cost he won't have to worry about.

Japan has been running trade surpluses since WWII, their economy has been in the tubes for a generation as they are forced to compete against low chink labor.

All countries have had to compete against cheap Chinese labor, not just the Japanese.

The US economy smartly moved to the service sector.

Your opinion. But there has to be blue collar jobs for the service industry to service.

Germany's unemployment rate is over 8%.

Can't argue with fact.

These are all strictly my opinion.

[hugo]

Don't get me wrong we got serious problems in the mid and long term from pension and senior healthcare obligations. The fact is those problems are even bigger for Europe, Japan and China. There are three possible solutions, or realistically a combination of the three, to overcome future massive deficits 1) tax increases 2) benefit cuts 3) expanded immigration. Europe already is crowded and their pool of immigrants come from a group with a nasty tendency to strap bombs to their chests and detonate them in crowded market places.

[Old Salt]

One thing about the pension/senior care problems - they will eventually become more manageable and go away, as long as population growth is slowing and old people are dying. Sounds cruel, I know, but I'm soon to becomme one of those seniors.

 

There are three possible solutions, or realistically a combination of the three, to overcome future massive deficits 1) tax increases 2) benefit cuts 3) expanded immigration.

I think the system can remain viable with a combination - small tax increases and small phased benefit cuts and raising retirement age, while using controlled expanded immigration. Use of work visas is the way to go (IMO). They are already in existance for the more high-tech workers so why not expand it to the agricultural sector? Allow more workers to come in legally (they will pay taxes) and hammer the illegals. I have absolutely no heartburn with giving visas to some of the illegals already here, on a case basis and as needed. (That last comment oughta get me in trouble:D but you notice I said some, not all.)

[Old Salt]

By the way, did you notice that the company that makes Airbus (EADS) and their American partner won a $40Bn US defense contract? The nose will be made in France, the wings in UK and the fuselage in Germany. Assembly and installation of plumbing/electronics (and I wonder how much of that is manufactured outside the US) will be in the US. I always thought there was a law that says DoD and other government agencies had to buy American.

EADS Hails Its Multibillion-Dollar US Military Contract Win

[ImWithStupid]

By the way, did you notice that the company that makes Airbus (EADS) and their American partner won a $40Bn US defense contract? The nose will be made in France, the wings in UK and the fuselage in Germany. Assembly and installation of plumbing/electronics (and I wonder how much of that is manufactured outside the US) will be in the US. I always thought there was a law that says DoD and other government agencies had to buy American.

EADS Hails Its Multibillion-Dollar US Military Contract Win

 

Problem is, if the components come from outside the us, but are assembled here, they are considered to be made in the USA. Just like the Japanese car, companies, many of the parts come from over seas, are assembled here, and they can call it American made.

[Old Salt]

I was just reading something about that just the other day. Wish I could remember where (getting senile). Should say "assembled in USA", not "made in USA". There's a percentage involved in which statement you can use. I would say look how many US jobs are being lost, except we know that even Boeing makes a good portion of their A/C parts overseas because it's cheaper - so there's probably no net loss.

 

Made in USA - Wikipedia, the free encyclopedia

The Made in USA mark is a country of origin label indicating the product is "all or virtually all" made in the U.S. The label is regulated by the Federal Trade Commission (FTC).

The American Automobile Labeling Act requires that each automobile manufactured on or after October 1, 1994, for sale in the U.S. bear a label disclosing where the car was assembled, the percentage of equipment that originated in the U.S. and Canada, and the country of origin of the engine and transmission. Any representation that a car marketer makes that is required by the AALA is exempt from the Commission’s policy. When a company makes claims in advertising or promotional materials that go beyond the AALA requirements, it will be held to the Commission’s standard.

The Buy American Act requires that a product be manufactured in the U.S. of more than 50 percent U.S. parts to be considered Made in USA for government procurement purposes. For more information, review the Buy American Act at 41 U.S.C. ?? 10a-10c, the Federal Acquisition Regulations at 48 C.F.R. Part 25, and the Trade Agreements Act at 19 U.S.C. ?? 2501-2582.

[ImWithStupid]

This why the entire world worries about the US economy...

 

Asian markets tumble on Wall Street drop

 

By KELLY OLSEN, AP Business Writer

1 hour, 3 minutes ago

 

SEOUL, South Korea - Most Asian markets tumbled Monday as investors reacted nervously to a steep decline on Wall Street Friday after disappointing economic and corporate news reawakened worries about a U.S. recession.

 

Japan's benchmark Nikkei 225 index plunged 4.5 percent to close at 12,992.18. Markets in Hong Kong, South Korea, India and Australia also fell sharply. However, shares in mainland China advanced.

 

Asian markets tumble on Wall Street drop - Yahoo! News

 

I also saw where small businesses in the UK, Germany and all over Europe are hurting because they export most of their, artesian, goods to the US and now the US isn't buying. Something like about a 20% loss over the last year. I think the other countries of the world are now realizing that if the US goes into a recession, and quits buying their products, the could be screwed too.

 

That is why, I predict other countries will do whatever it takes to help out our economy.

[Old Salt]

Oil tops $111 per barrel, gold tops $1,000 an ounce, the dollar hits record lows against the Euro and Yen, the markets are taking it in the shorts.

 

I can't seem to help but blame the 24 hour news outlets for part of the problem. Not all of the problem, but part of it. People are constantly being bombarded with bad news about the economy. The news repeats those same reports hour after hour until the average person is overwhelmed and decides they'd better not spend the money on that new item they want. They don't buy the item, the store doesn't sell that item, therefore the factory doesn't sell that item to the store and cuts back on workforce.

 

The price of oil does affect everyone, but the effect could be somewhat controlled with a little bit of conservation on the public's part. Simple things, like combining errands into one trip. Carpooling won't work for everyone, but when it does work - carpool. Public mass transport isn't available to everyone, either. But where it exists, use it.

 

We need a source of alternate energy. I don't understand why the oil companies don't spend part of their record profits to find that source. If the oil companies created some sort of alternate energy, they'd own it so they'd still be making those profits - even though energy use would be changing - just from a different source. One byproduct of that would be that it would hit Iran and Russia where it hurts - in the pocket.

[snafu]

President Bush tours a DuPont research lab Wednesday where scientists are developing new ways to make ethanol. To meet aggressive targets, major breakthroughs will be needed to improve processes that use plants other than corn.

 

 

Is there enough corn for ethanol plan? - Oil & energy - MSNBC.com

[Old Salt]

One of the most promising was Saw Grass (whatever that is). Brazil used sugar cane to become almost oil-independent. Any plant that can be used for either human food or animal feed will create problems of its own.

[snafu]

Like I said in my 100 a barrel thread, I'm thinking about making a still. I already have the plans for a good one. We're thinking of using wood and Prairie grass. My buddy has some land that needs to be cleared anyway. I was reading the by product is called lignin. It can be burned like coal so that can also be a heat source for the still. Then we're gonna switch the boat engines to run ethanol.

Well that’s the plan anyway.

 

Ethanol Plant "Brews" Grass Into Gas

[Old Salt]

Like I said in my 100 a barrel thread, I'm thinking about making a still. I already have the plans for a good one. We're thinking of using wood and Prairie grass. My buddy has some land that needs to be cleared anyway. I was reading the by product is called lignin. It can be burned like coal so that can also be a heat source for the still. Then we're gonna switch the boat engines to run ethanol.

Well that?s the plan anyway.

 

Ethanol Plant "Brews" Grass Into Gas

Can't you distill gases from coal? I seem to remember reading that somewhere. But whatever, if your plan doesn't work, you've still got the still and can make your own moonshine. Would your boat motors run on moonshine? It's 180 proof or stronger - that's 90% alcohol.

[snafu]

Can't you distill gases from coal? I seem to remember reading that somewhere. But whatever, if your plan doesn't work, you've still got the still and can make your own moonshine. Would your boat motors run on moonshine? It's 180 proof or stronger - that's 90% alcohol.

 

 

 

No not from coal. That wouldn't help. We're thinking of starting with wood chips and maybe grass. But then we might go on to try potatoes. I think you just have to reset the jets in the carburetors. With this valve we need to buy for the still it will retain the proper heat to get the 180 proof. You need to keep the still real clean for drinking hooch so no I'm not gonna try and drink it.

 

Here's were I got the plans for the still.

 

Make your own Fuel

[wez]

Bear Stearns bites the dust.. Fire sale..R.I.P.

 

 

Bear fire sale sparks rout on eve of Fed rate cut | Reuters

[Old Salt]

First. More to come.

[ImWithStupid]

One thing to look forward to with the economy tanking...

 

Think about all the "Going Out Of Business" sales we can look forward to.

 

Especially if the government does what it looks like it's going to do. It will help the big businesses, but the small ones will drop like flies.

[ImWithStupid]

One thing to look forward to with the economy tanking...

 

Think about all the "Going Out Of Business" sales we can look forward to.

 

Especially if the government does what it looks like it's going to do. It will help the big businesses, but the small ones will drop like flies.

[Old Salt]

One thing to look forward to with the economy tanking...

 

Think about all the "Going Out Of Business" sales we can look forward to.

 

Especially if the government does what it looks like it's going to do. It will help the big businesses, but the small ones will drop like flies.

Too true. If it's not on one of the coasts, in either NYC or LA, it doesn't count. By the way, IWS. I like the addition on your signature.

[Old Salt]

One thing to look forward to with the economy tanking...

 

Think about all the "Going Out Of Business" sales we can look forward to.

 

Especially if the government does what it looks like it's going to do. It will help the big businesses, but the small ones will drop like flies.

Too true. If it's not on one of the coasts, in either NYC or LA, it doesn't count. By the way, IWS. I like the addition on your signature.

[ImWithStupid]

( By the way, IWS. I like the addition on your signature.

 

Thanks. I know someone had quoted this somewhere, on this site or the telegram site, and after trying to find out who the original person was that said it, and not being successful, I decided to put it up anyway.

[ImWithStupid]

( By the way, IWS. I like the addition on your signature.

 

Thanks. I know someone had quoted this somewhere, on this site or the telegram site, and after trying to find out who the original person was that said it, and not being successful, I decided to put it up anyway.

[Old Salt]

That's a quote which was falsely attributed to Winston Churchill. I couldn't find the author, either.

If you're not liberal when you're young...

However, there is a verifiable Churchill quotation that may be relevant to today's political situation. In 1943 (at the height of World War II, when England's very survival was at stake), he wrote: "The power of the executive to cast a man in prison without formulating any charge known to the law and particularly to deny him the judgment of his peers is in the highest degree odious and is the foundation of all totalitarian government...."

[Old Salt]

That's a quote which was falsely attributed to Winston Churchill. I couldn't find the author, either.

If you're not liberal when you're young...

However, there is a verifiable Churchill quotation that may be relevant to today's political situation. In 1943 (at the height of World War II, when England's very survival was at stake), he wrote: "The power of the executive to cast a man in prison without formulating any charge known to the law and particularly to deny him the judgment of his peers is in the highest degree odious and is the foundation of all totalitarian government...."

[wez]

$3.67 a gallon when I filled up the other day and food spiking through the roof as the dollar falls and housing values plummet... Cool.. Prosperity is awsome..