What one of the oldest countries in the world can teach one of the newest ones...
Posted by jeckert on 05/10/2010
Like it's ancient ruins, Greece is crumbling. But what can the rest of the world learn from this small nation's budget crisis?
Robert Samuelson stresses the critical importance of decreasing the national deficit, and relying less on welfare and more on a productive, working economy.
How do we do this?
Balance trade with China, enforce Buy America, and invest in clean tech and infrastructure to create sustainable jobs that will strengthen the economy as well as the citizens of the United States.
Read more here.
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One of the most important
One of the most important concepts which we must come to grips with is stop destroying ourselves. All great nations fall because the "few" decide to do what is best for "them" and say "fooey" on the rest. We have been hurting ourselves by hurting each other.
My factory is being threatened by a Chinese "company" called Sany. I found that on September 12, 2007 Sany Heavy Industry signed an investment deal with the State of Georgia. So, Georgia doesn't care about Pennsylvania. What does it mean when taxpayers in one state give a break to China to take away jobs in PA? Well, eventually we all fall. Georgia taxpayers are paying the federal unemployment benefits right now.
Maybe the good-old-boys in the deep South think that we in Pennsylvania are just lazy and deserve to be unemployed. Surprise; we have no union, and only paying $10 to $15 an hour in the shop. But, Sany will be able to pay anything to attract our talent (all of us engineers are being called by headhunters to leave and go to Sany), and get Georgia to pay for infrastructure for a new plant in Peachtree, GA. Sany just wants to destroy us; like the Japanese and Koreans, it does not matter if they make a profit or not (Link-Belt is Hitachi-owned and is probably not been profitable for years). The Asians just want market share; they'll make the money once we're out of business and they know it.
I welcome all competition that is on a level playing field. We are definitely not on a level playing field (Sany will bring in their Commie-cheaters low exchange rate to the table; we'll never be able to meet the low-ball prices for all those components).
Chairman Mao sure would be proud of his people... Defeated the USA with nothing but our own bankers and politicians.