emellis

Jim Rogers on the Economy - Bearish on Stocks and Government

Isn't this the same fool who moved his family to Asia because he believes that is the future? And the same fool who drove a cusomized Mercedes across China? Wouldn't put too much stock into what he says.

Add one more to the list of feel-good, small-picture thinker baby boomers who have been doing their best to dynamite our country for the last fifteen years: Skilling, Madoff, Bush, Milken, etc, etc, etc.

When Will China Overtake the U.S. Economically?

I don't know much about academic economics.

But all China has going for it is slave labor. Automation continues to develop. Fewer people are needed in factories today than thirty years ago. What happens when nobody cares about workers who will work for $1 an hour with no bathroom breaks anymore?

Furthermore, rising fuel prices already have some people questioning the wisdom of overseas production.

And all of this fails to address the fact that U.S. labor rates have been dropping as groups like the UAW realize that their leverage is gone.

Rising levels of automation, rising wages in China (so I've heard), rising shipping costs, cheaper U.S. labor. None of this bodes well for the Chinese miracle.

Chevrolet's Malibu Sets New Record for Mid-Size Car

American heavy industry is alive and well. The last twenty years have not been easy. But lessons have been learned, problems have been solved, and the reports of America's demise as a top industrial power are greatly exaggerated. I even heard the other day that GE is insourcing something to a plant in Kentucky that was previously made in China.