goldstriker

Morici: Depression or Recession

Anytime that government takes over anything, it goes downhill, and it cost alot more for the thrill ride down.

We need to place tariffs on Chinese goods to compensate for the wage difference. How can we, in America, compete with 52 cents an hour wages? Our country in inundated with junk, dangerous toys, pharmasuticals, etc. Why does German and English projucts cost more, or about the same as American goods? It's because we place tariffs on their goods.

On another note, why are bailing out some private companies and not others. Why are we bailing out any of them. If we loan the billions that the UAW and auto mnfgs. want, will they not lay anyone off. or still go back to the assembly line producing millions of more cars and trucks that no one is buying? If all of the auto manufacturing companies in the world have had plummiting sales of over 35%, why in the world should we pay, with taxpayers money, to build more vehicles and to finance $70/hr jobs?

To dig our way out of this socialist direction, we will have to have a VAT (value added tax) like England and the rest of Europe. I am afraid that this is the end of a tried and true system that has produced us with the incredible lifestyle that we have enjoyed. But don't worry, our grandchildren and great grandchildren will inherit our new and prosperous sytem of debt. I hope that they will enjoy their new cardboard home as much as my dog does.