America is fast and furiously becoming a nation built around a service economy, as opposed to being the manufacturing powerhouse that we once were not so long ago.
And sooner than later, that service economy is going to become all tapped out, with nothing to replenish it.
As angry as a lot of people will be at Whirlpool for this, they should be even more filled with wrath at the politicians in the United States who have driven away domestic industry with high corporate and individual taxation. Slash taxes across the board, impose new but fair tariffs on imports, and this country's economy will zoom through the roof.
Too bad we are sorely lacking visionary elected officials who would even conceive of doing such a thing, though...
2 comments:
Okay, I'm confused. First you say that local governments offering tax incentives and other deals doesn't work, and now you're saying that it's high taxes driving away the businesses.
How about this crazy theory: that corporations are just getting greedier and greedier, not satisfied with what they get, always wanting more?
Forget the service economy tapping things out, corporations will drain it dry well before then.
I believe you should be talking about the shareholders and those on the board who are greedy.
You can thank both parties for the selling out of America! I would reserve a mud hut sometime in the next 50 years.
With wages increasing less then expenses and jobs that pay well going to dollar a day workers overseas, we all will eventually end up bankrupt. Once the tipping point is reached it will be no stopping the fall.
Stocks are growing partially because of the boomers investments for retirement, once enough of them retire and start drawing on that money, that artificial growth will reverse and we will see the markets falling around the world as more and more people retire and leave the work force.
Of course those who are forced out do to the job losses will also draw their money out to repair their balances.
It is not a question of if, it is only a when it will happen unless we change the course of this nation and start doing what the rest of the world does and protect our jobs!
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