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Unions. I watched the UAW refuse to give back a dime to Cat when things
got tough in the early 80's even in the face of warnings they would move
their Iowa plants. Well, they moved them. To France! My company provided
two way radio and closed circuit tv services to those plants and it was a
tough loss for us.
There was a time for labor unions. That time was 80 years ago. Most of
the money they pull in goes to organized crime and they have caused
manufacturing to depart wholesale. Besides, I am suspicious of anyone who
wants to work at a job where they tell you how much you can make.
So, greed has driven out the manufacturing jobs. Our education system has
lowered the bar for the few until the majority are getting a second rate
education and can not compete in the world market place. Education is not
the same as corporate earnings. You can't just lower the estimates. I
worry a lot about our youth .. kids coming out of high school today are
less informed that kids coming out of 8th grade 30 years ago. The damn
bar better get put back up where it belongs and teachers held accountable
and tested.
Bob
At 05:57 PM 9/21/2002 -0700, you wrote:
>Did the US have a choice in its conversion? It was convert or die. The
>manufacturing went elsewhere because they could do it just as good and a lot
>cheaper. The only other alternative we had was to become isolationists again
>and ban imports. Our agriculture is going the same way right now. Garlic
>is coming in from China at 1/2 the price it can be produced for in the US.
>The same with oranges, grapefruit and other citrus from Australia and South
>America. Are the grain markets in the same shape? Brazil, Australia, and
>other countries are producing product for less. How long can a subsidy
>last? Where is our vaunted fishing fleet. Are there any American flag
>vessels left afloat, outside of the Navy and coast guard. Do we produce
>shoes or clothing any more? We still have a thriving wine industry.
>
>I have a question. Who does the service industry service? We have banks
>that lend money to foreign countries that don't repay the loans. We have
>computer companies that import all of the parts they assemble here. So we
>did save those high paying assembly line jobs. The fast food restaurants
>are expanding overseas instead of in the US so those high paying service
>jobs at Wendy's and McD aren't going to shrink the unemployment rolls. The
>banks can now lose money in insurance, brokerage and other non banking
>endeavors. Even the federal government is sending our armaments for
>production overseas.
>
>Were is the talent coming from to operate the high tech companies? That
>talent is coming from oversees. We can't even produce an intelligent work
>force. There is one ever expanding area of the economy. Tattoo parlors and
>body piercing salons are popping up all over. Now there is a real future
>for your kids. Am I missing something here? Ira
>
>----- Original Message -----
>From: "Earl Adamy" <eadamy@xxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Saturday, September 21, 2002 4:54 PM
>Subject: Re: [RT] Service vs Manufacturing economy
>
>
> > Gary, do you have a URL for that article, sure would like to read the
>whole
> > thing?
> >
> > I have long believed that true economic strength is built upon a strong
>and
> > resilient manufacturing base. I have also been saying for many years that
> > the US would suffer deeply in the next recession/depression for having
> > converted to a service based economy.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Gary Funck" <gary@xxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Saturday, September 21, 2002 3:23 PM
> > Subject: RE: [RT] 10 year note near 40 year highs ?
> >
> >
> > >
> > >
> > > > -----Original Message-----
> > > > From: Daniel Goncharoff [mailto:thegonch@xxxxxxxxxx]
> > > > Sent: Saturday, September 21, 2002 9:37 AM
> > > > To: realtraders@xxxxxxxxxxxxxxx
> > > > Subject: Re: [RT] 10 year note near 40 year highs ?
> > > >
> > > >
> > > > I think there are two sides to this point. Isn't a service-based
>economy
> > > > more flexible than one based on large factories? It may mean that
> > > > changes come more easily, and that new industries can develop using
>the
> > > > excess information-based labor from weaker sectors.
> > > >
> > > > In this respect, telecoms will be a good real-life example. It will be
> > > > interesting to see what happens to all the people getting laid off by
> > > > the telecoms firms that won't be growing for several years. If they
>end
> > > > up having no place to go, that would indicate your believe is
>validated.
> > > > If they find new jobs in a similar field, I think the economic hit
>will
> > > > not be very big at all.
> > > >
> > >
> > > In this week's Business Week, there's a rather disturbing article that
> > refutes
> > > the theory that a service based economy should be more resilient.
>Excerpts
> > > below:
> > >
> > > SEPTEMBER 30, 2002
> > >
> > > NEWS: ANALYSIS & COMMENTARY
> > >
> > > The Educated Unemployed
> > > The jobless rate for managers and professionals is likely to rise
> > >
> > > [...]
> > > Here's why joblessness is likely to rise: Across the board, companies
>are
> > > facing an unholy trio of low profits, weak demand, and falling
> > prices--with no
> > > relief in sight. Revenues for the companies in the Standard & Poor's
> > 500-stock
> > > index are down 2% over the past year, adding to the pressure on
>businesses
> > to
> > > cut costs by cutting workforces. At the same time, productivity is
>soaring
> > at a
> > > rapid clip--a 6% gain over last year at nonfinancial corporations.
>That's
> > > allowing businesses to meet flat demand with fewer workers.
> > >
> > > Even more distressing, some of the sectors where the job market has
>stayed
> > > relatively strong--including health, education, finance, and retailing,
> > which
> > > together make up about 40% of the total workforce--are showing signs of
> > > cracking. And the already grim labor picture in the airline, energy,
> > > technology, telecom, and media sectors--some 7% of the workforce--keeps
> > > deteriorating.
> > > [...]
> > > This is the dark side of the productivity boom. During the second half
>of
> > the
> > > 1990s, output per worker rose, but soaring demand and revenues, driven
>in
> > part
> > > by the technology and telecom boom, helped boost hiring and push down
>the
> > > unemployment rate below 4%. Wages and bonuses soared, and it seemed like
>a
> > > golden age for workers.
> > >
> > > But rising productivity without rising demand is a recipe for
>disappearing
> > > jobs. If companies can't raise prices, the only way they can boost
>profits
> > is
> > > to cut workers--and higher productivity makes that possible.
> > > [...]
> > >
> > >
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
>http://docs.yahoo.com/info/terms/
> > >
> > >
> > >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
>To unsubscribe from this group, send an email to:
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>
>
>
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