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Thread: Working-age poor population highest since '60s

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    Working-age poor population highest since '60s

    Counting adults 18-64 who were laid off in the recent recession as well as single twenty-somethings still looking for jobs, the new working-age poor represent nearly 3 out of 5 poor people a switch from the early 1970s when children made up the main impoverished group.



    Working-age poor at highest levels since '60s - Business - US business - msnbc.com

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    Re: Working-age poor population highest since '60s

    We need to make the changes necessary to manufacture goods domestically again. Until we do so (or until another industry absorbs the displaced workers), there will be many working and non-working poor.

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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by Helix View Post
    We need to make the changes necessary to manufacture goods domestically again. Until we do so (or until another industry absorbs the displaced workers), there will be many working and non-working poor.
    The only way to really do that is tariff. Companies no longer have loyalty to consumers and employees the way they once did. They'll pick up and leave at a moments notice. Fire as many people as necessary to make their "profit" look good that quarter. The more and more we give them, the more and more they take. It would require regulation and tariff of appropriate level to force manufacturing back into the US.
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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by Helix View Post
    We need to make the changes necessary to manufacture goods domestically again. Until we do so (or until another industry absorbs the displaced workers), there will be many working and non-working poor.
    The problem with that statement is that we're manufacturing more now than we ever have. But because of computers and automation, manufacturing supports only a fraction of the employment that it once did. So what should be do? Tell manufacturers that they can't use computers and automated assembly lines? It's not going to work, any more than tariffs will work. What we need to do is develop and export intellectual capital.

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    Re: Working-age poor population highest since '60s

    We are shipping jobs off shore because it is infinately cheaper to do so and the only thing that matters on American books, including yours, is the bottom line.

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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by Helix View Post
    We need to make the changes necessary to manufacture goods domestically again. Until we do so (or until another industry absorbs the displaced workers), there will be many working and non-working poor.
    an economic factor, comparative advantage, works against this desire coming to fruition
    where the capital and material costs of manufacturing are (near) equal and the labor costs are substantially different, the nation with the lower labor cost component is going to normally prevail
    the regulatory burden (expense) of manufacturing in industrialized nations is likely going to exceed that of emerging nations. that adds an additional financial advantage to the manufacturers located in lesser regulated nations
    the industrialized nations retain price of goods advantage when the cost of transportation/export to the buying nations exceeds the savings they enjoy from low labor and regulatory expense
    another advantage of industrialized nations is the availability of a higher skilled/educated work force, superior infrastructure, and/or more efficient manufacturing processes/superior technology

    unfortunately, our investment in infrastructure, and education has not kept pace with other emerging nations while our labor costs remain at the high end. our superior standard of living and the high labor cost necessary to maintain that standard have priced us out of much of the low end manufacturing sectors

    in contrast, we can observe china with a supply of low cost labor, low capital costs, and enhanced infrastructure and low regulatory burden, being able to overcome all competitive obstacles other than transportation expense. its comparative advantages are being translated into its becoming the world's dominant trading partner. china has more computers than the USA. it has more english speakers than the USA. and it is a nation where achieving a technical education is recognized as the path to a better standard of living. only if we can address those advantages could we begin to ponder how to expand our domestic manufacturing and compete with the chinese juggernaut
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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by justabubba View Post
    an economic factor, comparative advantage, works against this desire coming to fruition
    where the capital and material costs of manufacturing are (near) equal and the labor costs are substantially different, the nation with the lower labor cost component is going to normally prevail
    the regulatory burden (expense) of manufacturing in industrialized nations is likely going to exceed that of emerging nations. that adds an additional financial advantage to the manufacturers located in lesser regulated nations
    the industrialized nations retain price of goods advantage when the cost of transportation/export to the buying nations exceeds the savings they enjoy from low labor and regulatory expense
    another advantage of industrialized nations is the availability of a higher skilled/educated work force, superior infrastructure, and/or more efficient manufacturing processes/superior technology

    unfortunately, our investment in infrastructure, and education has not kept pace with other emerging nations while our labor costs remain at the high end. our superior standard of living and the high labor cost necessary to maintain that standard have priced us out of much of the low end manufacturing sectors

    in contrast, we can observe china with a supply of low cost labor, low capital costs, and enhanced infrastructure and low regulatory burden, being able to overcome all competitive obstacles other than transportation expense. its comparative advantages are being translated into its becoming the world's dominant trading partner. china has more computers than the USA. it has more english speakers than the USA. and it is a nation where achieving a technical education is recognized as the path to a better standard of living. only if we can address those advantages could we begin to ponder how to expand our domestic manufacturing and compete with the chinese juggernaut
    I'll probably get some flak for sayin this but......

    The Chinese and Indians work harder, work smarter, live in countries with vastly lower inflation and do not have the same sense of entitlement as Americans do. Parts from China that are 1/10th the price of American manufactuers and the bull**** notion that Chinese stuff is crap simply no longer applies.

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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by ric27 View Post
    We are shipping jobs off shore because it is infinately cheaper to do so and the only thing that matters on American books, including yours, is the bottom line.
    I'm confused, what does all this mean on Chinese books? Obviously not the bottomline, right?
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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by Ikari View Post
    The only way to really do that is tariff. Companies no longer have loyalty to consumers and employees the way they once did. They'll pick up and leave at a moments notice. Fire as many people as necessary to make their "profit" look good that quarter. The more and more we give them, the more and more they take. It would require regulation and tariff of appropriate level to force manufacturing back into the US.
    Our government is too in bed with big businesses for this to happen, but I agree with you.

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    Re: Working-age poor population highest since '60s

    Quote Originally Posted by ric27 View Post
    I'll probably get some flak for sayin this but......

    The Chinese and Indians work harder, work smarter, live in countries with vastly lower inflation and do not have the same sense of entitlement as Americans do. Parts from China that are 1/10th the price of American manufactuers and the bull**** notion that Chinese stuff is crap simply no longer applies.
    Inflation in China has been over 5% for many years. The US is at 1.4%.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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