Asia making all the **** we can't

[1970FuryConv]

The genesis of this situation goes back to the Reagan administration. Prior to that, anti-trust laws were administered by considering citizens as workers, entrepreneurs, business owners, as well as consumers. Companies could be broken-up or mergers denied based on those metrics. Under the Reagan administration and afterwards, citizens are primarily treated as CONSUMERS only. Company mergers are generally allowed if they can successfully show that there would be a benefit to consumers.

This ultimately led to the current situation in many types of business where there is a small group of dominating businesses which are operating in a monopolistic fashion, and have extensive government lobbying powers. e.g. BIG pharma, BIG oil, airlines, telcos, etc. Their lobbying efforts are steering lawmaking, not necessarily what is best for consumers.

In addition, the Reagan administration allowed leveraged buyouts, LBOs, where companies could be bought using significantly more debt than previously allowed. The theory was that the additional debt would create additional financial discipline. However, debt is debt. If you have a massive amount of it, you have to cut costs significantly to meet it or go into bankruptcy. That meant moving jobs offshore or to Mexico to save money to pay the debt. In many cases, these LBOs did cause the companies to go bankrupt and the investors who picked up the remnants moved the manufacturing jobs overseas to keep the company afloat.

When I went to business school, a case study was Anchor Hocking Glass which ended up shutting down US manufacturing and being taken over by Mexican investor after bankruptcy following an LBO. The process was this: the highly leveraged private buyers buy out the company. They leave it private for a little while and supposedly think through and fix issues. Then there would be a much trumpeted public offering of stock, after which profits would not meet expectations due to debt, then stock values would plunge, then the company would either be bankrupt or new management would be brought in, and manufacturing moved overseas and staff cut to keep the company in existence. William Simon, Reagan's secretary of the treasury, made a lot of money this way. David Stockman his budget director may also have. A few people on Wall Street made a lot of $ thru LBOs, while middle america lost out big time.

 

[68PK21 440.6bbl]

or you'll be coding like Obama wanted.

Ummmm, is this like some DaVinci Code? (please explain)

.

 

[fury fan]

Gotta tax those evil businesses, get them to pay for more govt spending and debt. Too bad that most of us work for those businesses.
I'm sure if their taxes go up our wages and merit raises won't be affected.

 

[Davea Lux]

If you're going to make this about red vs blue party, don't forget that until relatively recently the Republicans were more in favour of international trade deals, and the Democrats not in favour of increased globalization, being historically more pro-union. There have been exceptions by both parties, of course, and more recently the two parties seem to be reversing roles. But members of either party can be bought by powerful lobbyists representing big business, present administration included.


I think I know what you're getting at. Labour is a market subject to supply and demand, like other business inputs. Government has allowed businesses to merge in the interest of cost savings, but those cost savings have come at the expense of the businesses cutting duplicated departments and letting those workers go. That has reduced the need for workers, contributing to unemplyment and UNDERemployment, such as in some specialized fields which would have otherwise been high-paying occupations. For such specialized occupations, there may only be a couple remaining businesses which need their particular skills. Those businesses know that, and can suppress wages because they know that workers have no alternative.

The remaining businesses can also squeeze their suppliers on the input side, because they know that their supposed competitors won't pay any more the same raw materials. (E.g. slaughterhouses. Only a few companies own all the animal processing facilities across the US. This lack of competition suppresses wholesale livestock prices, driving down farmers' profits.) -- This flip-side of monopoly (excess demand but only one supplier) is called a "monopsony" (excess supply but only one buyer).

The genesis of this situation goes back to the Reagan administration. Prior to that, anti-trust laws were administered by considering citizens as workers, entrepreneurs, business owners, as well as consumers. Companies could be broken-up or mergers denied based on those metrics. Under the Reagan administration and afterwards, citizens are primarily treated as CONSUMERS only. Company mergers are generally allowed if they can successfully show that there would be a benefit to consumers.

This ultimately led to the current situation in many types of business where there is a small group of dominating businesses which are operating in a monopolistic fashion, and have extensive government lobbying powers. e.g. BIG pharma, BIG oil, airlines, telcos, etc. Their lobbying efforts are steering lawmaking, not necessarily what is best for consumers.

I agree that there is plenty of blame to go around. Both Bushes pushed for most favored nation trade status for China and Bill Clinton signed NAFTA. Both parties had their hand in screwing American manufacturing. All part of Globalism and the New World Order. That having been said, Trump has at least tried to make America self sufficient and bring some of the jobs back from overseas. The corporate tax cuts give incentive to produce here. Some stuff like medical supplies should never be done overseas as it represents a major security risk.

Dave

 

[1970cat]

Gotta tax those evil businesses, get them to pay for more govt spending and debt. Too bad that most of us work for those businesses.
I'm sure if their taxes go up our wages and merit raises won't be affected.

not to worry , any additional expenses will be passed on to the consumer.

 

[rags]

Gotta tax those evil businesses, get them to pay for more govt spending and debt.

are there businesses left to tax? seems the government has been giving more money to the businesses that are left. far easier to just print more money with reckless abandon. another round of stimulus checks and coffee is going to be $1200.00 a cup. read the Biden plan for covid-19? more money, more money, more money.......

 

[rapidtrans]

Private businesses and the wealthy will always find a work-around or loop hole. Their lawyers are much smarter than congress and even Joe Biden with his high I.Q.

(I love that tape of him trying to humiliate some citizen bragging about his brilliant college career and I.Q. Turns out it is all a lies. Those people that brag like that do so because they are lacking the exact traits they brag about.)

 

[1970FuryConv]

are there businesses left to tax? seems the government has been giving more money to the businesses that are left. far easier to just print more money with reckless abandon. another round of stimulus checks and coffee is going to be $1200.00 a cup. read the Biden plan for covid-19? more money, more money, more money.......

Not to mention free college for any family making less that $125000/year. In Virginia, most colleges that my children checked out had an overall cost of $100000+ for 4 years. What an incredible massive unfunded entitlement program!
I read an article that stated that less than half of tuition costs go to academics. Another option would be start seeing what's driving costs and see what we can do to provide alternatives. We might even regulate that a certain % be spent on academics. But no, can't do that. Might offend a voting block.
Just for reference education debt now exceeds credit card debt in the US.

 

[rapidtrans]

That has bugged me for years now. Why is my tax money going to these colleges unchecked. Does the government even bother to follow the money and what it is spent on? Or what students are taught? Seems every curriculum is filled with liberal indoctrination courses. I firmly believe the longer your kid spends on a college campus the more harm they’re done. A niece has spent 10 years on college campuses obtaining a Doctorate of something and graduated a full-blown snowflake.
And free college just diminishes a college degree’s worth even further.

 

[fury fan]

Those people that brag like that do so because they are lacking the exact traits they brag about.)

I had a journalism prof many years ago, I don't know if he coined the phrase, but it's a good litmus test that I've used ever since.
'Truth needs no adornment'.
I found out some years later that the guy won a Pulitzer prize for one of his works.

 

[rapidtrans]

Perhaps manufacturing output is not where it was but companies certainly have been making money and spending on facilities. In the last four years we did $5 billion in improvements and new construction for just one of the big three. There has been so much work we have had to fight a shortage of skilled trades and construction materials.

 

[300rag]

... a shortage of skilled trades...

And that is a whole 'nuther story in itself. Working with your hands seems to have fallen out of favour.

 

[70bigblockdodge]

It would be refreshing to see a CEO, CFO, etc. have a true interest in the company not just filling a billet. I'm sure they are out there, but being at the top level of a company seems to be much like a elected government position. Hob knobbing, popularity contest, with promises that are hard to make work due to a stuffy board of directors.

 

[Jeremiah]

A big problem is people place their standard of living before their morals in this era. That said I am guilty of shopping HF ( transmission jack, etc) only because it was available to me locally. Below is a good example of the disproportion of manufacturing costs if you totally ignore quality and precision as purchasing requirements.
20 Ton H-Frame Industrial Heavy Duty Floor Shop Press

https://www.mile-x.com/dake-25h-han...irOhm9jv3rFroJ9wtbqjiOFju_FzrSY4aAtaSEALw_wcB

I have a used Dake, 20+ tons of pressure is not something to take lightly.

 

[68PK21 440.6bbl]

GO BIG OR GO HOME!

Hydraulic Press | Auctions Online | Proxibid


.

 

[68PK21 440.6bbl]

Here's another one, but hurry ends in 1 hour!

.

 

[Fratzog]

And now this

The fact that DJT did business in China is not news. If you are a developer in a foreign country why wouldn't you have a bank account there? The article provides zero evidence of any illegal activity. Just more deflection from the real corruption which they totally ignore. I'll see your deflecting fake news NYT article and raise you an RT article. Read it and weep LOL.
Hunter Biden pursued deals worth tens of million in China, struck bargains for 'his family,' NEW email leaks allege

 

[Fratzog]

mounting evidence

You mean like Russia collusion LOL? There certainly isn't anything in the article. What else ya got? Ya right nada.

No established media outlet would take a chance and ruin their credibility

What credibility? What have you been smoking? Because you seem to have been living under a rock check out Project Veritas CNN videos Part 1, 2 & 3.

he wants to keep jobs in this country but has business interests in China

Again it is not news that DJT is a developer trying to put up hotels around the world including China. Yet he is the only President who has confronted China on trade. In the deal signed last year China made commitments to halt intellectual property theft, refrain from currency manipulation, cooperate in financial services and purchase an additional $200 billion in US products. Yes, in your own words this evidence speaks for itself.

It is also noteworthy that the MSM is now universally criticising DJT's hard line with China and pushing improved trade relations rather than investigating how/why the Wuhan virus attack happened or whether the "big guy" cashed in on his millions as evidenced by the email trail. Never mind nothing to see here.

Nobody cares about Hunter Biden

I've asked a few liberal friends about it and they don't know anything. It comes as no surprise because here in Canada we have the same fake news leftist MSM that you have in the US. Ignorance is bliss.

 

[polara71]

You mean like Russia collusion LOL? There certainly isn't anything in the article. What else ya got? Ya right nada.


What credibility? What have you been smoking? Because you seem to have been living under a rock check out Project Veritas CNN videos Part 1, 2 & 3.


Again it is not news that DJT is a developer trying to put up hotels around the world including China. Yet he is the only President who has confronted China on trade. In the deal signed last year China made commitments to halt intellectual property theft, refrain from currency manipulation, cooperate in financial services and purchase an additional $200 billion in US products. Yes, in your own words this evidence speaks for itself.

It is also noteworthy that the MSM is now universally criticising DJT's hard line with China and pushing improved trade relations rather than investigating how/why the Wuhan virus attack happened or whether the "big guy" cashed in on his millions as evidenced by the email trail. Never mind nothing to see here.


I've asked a few liberal friends about it and they don't know anything. It comes as no surprise because here in Canada we have the same fake news leftist MSM that you have in the US. Ignorance is bliss.

Thank you Fred, I can always count on you too articulate the facts to the TDS infected anti Americans. I just can't put that much into it anymore. It is like barking at the moon.

 

[Fratzog]

I just can't put that much into it anymore. It is like barking at the moon.

I get it particularly from someone that works for a living. Being retired I have a bit more time on my hands. Even so I find I need to step away from time to time.

 

[polara71]

Bidens lack of Character ...

 

[polara71]

Bidens lack of character

 

[polara71]

Bidens lack of character...

 

[Kippy]

Ask anyone who's met me, I have no filter. If you think I'm opinionated here wait till our paths cross
I like that, opinionated. Im like that also, I look forward to meeting you
You see though there is a big difference and thats being respectful.

I have a question outside of all this. Being a south jersey mopar guy, I was wondering if you knew Gabe from Trenton. Misplaced his number.
Was wondering if he was doing ok. I bought some parts from him and saw some of his collection of cars and parts

 

[polara71]

Didn't you day you were banned till the end of the year on fbbo?

 

[Fratzog]

When pressed as to why he would tweet this when he knew it was false, the excuse he gave was disgraceful. It does however give a window to understand how he thinks and operates

Of course its not sour grapes because he lost his nomination? BTW I assume you can explain why dumping the body at sea was an essential part of the operation?

 

[70bigblockdodge]

I don't see how anyone can say they don't know what DJT is really like. He was a pretty public, outspoken figure. If you don't know how he feels about certain things you must have been living under a rock for the last 20-30 years.
I think his religious pandering is to secure that vote. I'm okay with that, I don't agree with him on all the issues, I don't hate that he has told other countries to pound salt, sometimes you have to hurt some feelings to get the point across. My biggest hurdle with him and a lot of the far right is linking ACA to abortions to gain support for it's demise, but that is what makes the political world go round.
Biden is really not even a choice. He made the right choice by not running after his VP term. The Democratic party got in his ear to run so they would have a throw away candidate.
Asia makes **** because of corporate greed for that extra dollar and short sighted thinking. Now if some of them wanted to move back and manufacturer here the labor and facilities are compromised
The government did not help any of it

 

[rapidtrans]

History will show the Obama/Biden/Clinton administration as the most corrupt ever.
FBI and congress spent 4 yrs and millions of dollars to find zip on The Donald. They can’t believe he isn’t corrupt just like them!

 

[polara71]

History will show the Obama/Biden/Clinton administration as the most corrupt ever.
FBI and congress spent 4 yrs and millions of dollars to find zip on The Donald. They can’t believe he isn’t corrupt just like them!

 

[Kippy]

Are you at all familiar with your 1st Amendment LOL? Last time I checked there were no restrictions on freedom of expression because a snowflake like you has delicate sensibilities. It is Dave's right to label you as un-American and therein lies the difference between socialists like yourself and those of us who value our fundamental freedoms over any temporary security offered by the state. Suck it up buttercup or if you prefer, if the shoe fits wear it. BTW I also would enjoy sharing my sentiments with you face to face.

I find people like you are in reality one step removed from fascist's of the second world war.
You dont really want freedom, you want a dictator who you believe in.
Buttercup? What a idiot you sound like and obviously are.
Oh and BTW sharing your sentiments with me face to face? LOL, I doubt it.
Ive dealt more than once with your kind, most if not all are spineless cowards.

 

[Fratzog]

one step removed from fascist's of the second world war.

Everything I've written here is in support of your constitution yet somehow that makes me a fascist in your view. If you disagree please point out where I've done otherwise. You on the other hand, by failing to refute even one of my points, particularly regarding your 1st amendment proves that you are in fact projecting. You clearly have no concept of the connection between your socialist dogma and totalitarianism. Here is a re-post that explains my point but like all progressive NPCs on this board I expect you will be too lazy to read it never mind refute it.
Why Socialism Leads to Totalitarianism and Vice Versa | The Libertarian Institute