DIYbanter - View Single Post - How Real Americans Can Compete with "Hard Workin" Day Labor

Leif Erikson

Brent P wrote:
In article . com, wrote:

Brent P wrote:
In article om, wrote:

Of course there is another aspect of this that you completely overlook.
And that is the great benefit of people being able to buy that car for
$7000. All the folks who complain about jobs lost to lower cost
labor completely ignore the fact that everyone is also receiving a huge
positive benefit from this. This is especially true of lower income
families. If they had to pay 2X for everything they buy at Walmart and
everywhere else, it's not clear that they would be any better off.

Lower income people in the USA cannot compete with near slave wages. It
cuts them out of the job market. It's doing them no favors what-so-ever.

Unemployment is near historic lows, GDP is growing at 3.5%, inflation
and interest rates are both low, real estate is at record highs, and
more Americans own homes today than ever before. No reasonable person
and certainly no economist, would call that a collapsing economy.

I didn't call it a collasping economy. I called it an economy of short
term thinking.

No more so than at any other time.

As for low cost products doing low income people no good, that is
absolutely false.

In the long term it doesn't.

Yes, it does. Low income people are paying less for goods. The prices
of the goods they buy are falling relative to their incomes. They're
better off.

Look at who shops at Kmart, Walmart, etc. Those
products would cost much more if it were not for foreign low cost labor
producing them.

Funny how I can find even in those stores, in corners and places made in
USA goods that cost no more and even less much of the time.

Perhaps some times.

These low cost products are of tremendous benefit to
everyone, including the low income. As someone earlier pointed out,
China is planning a $7000 entry level car. Do you think that is of no
benefit to low income families here in the USA? You're so biased only
looking for negatives that you can't see the forest for the trees.

I don't think you understand the long term game.

You don't understand any long term game.