sunnsea

In the Long Run, the Dollar Is Dead

40% of our so-called "trade with China" is simply American companies having their products made in China and shipped back here duty free. If we can stop this reduction in the standard of living of the US worker, then we can come out of this alright. Obama will need to institute tariff schedules that will stop this. This is the principal reason for the erosion of our incomes and ultimately the roots of the sub-prime mess, Japan is another story all together. This is an advanced industrial economy that makes, markets its own products. However, many US auto companies have components such as engines made in Japan. Even with high per hour rates and other costs, Japan is still competitive. How is this possible? Does anyone know enouigh to even ask them the right question? Why haven't US manufacturers pushed to have a single-payer health care system and get health care off their backs? OR are they so ideologically driven they can't bear the thought that a government health care program would actually be cheaper for everyone? The dollar, the yen and the Euro should be merged into a single-currency which would bring all the major industrial countries into alignment. Think of the millions that would be saved just in transaction fees and costs under a single-currency. After this is all over, Americans are going to have to learn how to produce and market products in America that can be exported world-wide with a cachet that makes them appealing. Then we will be on the road to real recovery.