Joined: 28 Dec 2005
|Posted: Sat Mar 19, 2016 6:46 am Post subject: Immigrants
It seems, over the past 10 years, Chinese investment, and demand for dollars, in the U.S. accelerated, while American investment, and demand for yuans, in China has slowed.
Sanders and Trump should be blaming U.S. regulations and taxes, not an undervalued yuan.
ezra s abrams:
What would you tell someone who lost their job, their pension, and who saw the value of their home plummet ? A lot of fancy mumbo jumbo about confidence intervals ?
Why donít you do something useful: explain to said person who they should be angry at; the National Rev Online view seems to be that said person has themselves to blame for being lazy and shiftless; the Sanders view is, i think, that we have a rigged system that cares only for the rich (ie, no re training for displaced workers, but tax rules that benefit the rich); not sure what the Trump view is (if in fact he has a coherent view)
PS: it is clear that there no longer are a lot of high paying manufacturing jobs; the robots actually, after decades of trying, are working.
So what would you tell said person about the future for his children
If you donít have a plan, I think anger that sweeps away all the PhDs (many of whom have shamefully abetted things eg the bush dividend tax cut) is fully justified and heck, Iím a phd myself, tho in bio science
There will always be winners and losers in a dynamic economy. Otherwise, most of us would still be farmers.
The tens of millions of dirt poor immigrants, and their children, over the past few decades, are winners. They live better in the U.S. than they wouldíve in their home countries.
They donít seem to mind working harder for lower wages and displacing domestic workers. And, eventually, after 20 years at a job, while learning and improving skills at work, they could be making $30 an hour in compensation and donít mind business owners paying $10,000 a year per worker in regulations, along with high health care costs.
A lot of domestic workers arenít willing to work that hard for low wages, or start low and spend 20 years on a job learning some skills at work. However, much of the domestic population obtained a valuable education and skills to earn high incomes.