Move of jobs offshore good for US-Fed's Poole

[zbdent]

http://channels.netscape.com/ns/pf/story.jsp?idq=/ff/story/0002/20040220/1001614502.htm

ST. LOUIS, Feb 20 (Reuters) - St. Louis Federal Reserve President William Poole said on Friday the movement of jobs from the United States to low-wage countries was painful but ultimately good for the economy.


<snip - only two paragraphs in whole story>

[yellowcanine]

1. Way to go Poole - Let's keep this one going right through November.

Works for me. Heh.

[Norquist Nemesis]

2. It's the new meme

Last night on Lou Dobbs, David Dreier was saying that jobs exported to Mexico via NAFTA have been a good thing because we increased the standard of living for our neighbor. (note: period) Dobbs came back to show how ridiculous it is to say this is such a wonderful thing when it comes at the expense of America. There was alot more and Dobbs creamed him, but if you really want to see all of the new GOP/Bushco doublespeak, check the transcripts of the interview. The show was on last night.

[denverbill]

8. That's truly a load of bs too. Mexico is WORSE off under NAFTA.

Many Mexican small farmers have been driven out of business by subsidized American exports. And with the entry of China into the WTO, hundreds of thousands of Mexican manufacturing jobs that had moved there from the US, have now moved on to China.

[zbdent]

3. My point was - these people never learn

This guy was under Reagan.

[mhr]

4. The Fix Is In, It Will Soon Take A College Education To Work At BK

Besides, those jobs are soon to be reclassified as highly skilled manufacturing positions.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=375274

[Buns_of_Fire]

7. You jest, but you're not far from the truth

I put in an application to one of the local food stores recently -- general stock help, checkout, stuff like that -- and they asked me if I had a resume. I laughed and said, "You need a resume now to bag groceries?" I didn't get hired. I guess I have too much of an "attitude." :eyes:

[indepat]

5. My God, is the Fed lining up and marchin ing lockstep to prothesize

the GWB/neocon economic doctrine/drivel?

[redqueen]

6. Is anyone buying this crap?

I would think only the most die-hard bush party loyalists would swallow this drivel.

What a farce.

[ignatius]

9. Flipping burgesz iz manufacturing,frying ze chicken iz

chemistry,sending jobz overzeaz iz gooood for you..up iz down,black iz white, war iz peace.

Regime change begins at home.

[Bandit]

10. Okay I'm convinced. ~ Send my job to India and America will flurish.

I think this one will not pass the sniff test. BS smells just like BS

[Zero Gravitas]

11. Republican "values"

It just goes to show that their values are not the same as ours, of of America in general. Lining the pockets of corporate big-wigs at the expense of the middle class is not "good for America". They think so long as the rich get richer and the precious corporate bottom line benefits then it is de facto a good thing. They do not believe that that the standard of living of ordinary people is important.

[loudnclear]

12. Only people who don't have to work to survive feel this way.

If you are living off of inheritence, dividends, and a huge trust fund, of course you don't give a damn about jobs leaving the country when it means your goods and services will be cheaper. However, if this keeps up long enough the rich will find that they are surrounded by unemployed, desparate people whose standard of living has decreased sizably. Is this the kind of country we want?

[salin]

13. Notice how they don't even attempt, anymore, to tell us HOW

this is good for our economy in the long-run. When consumption slows because of depressed wages (and long-term higher unemployment??) - this is good because... goods cost less? So the dollar one saves on an electronic gadget... makes up for the four dollars per hour lost in depressed wages?

[54anickel]

14. I think they tend to look back to the 80's and the rhetoric about Japan.

Back then it was that we were loosing jobs and market share to Japan, and the call for "protectionism" was strong back then as well. The comparison is not the same. Japan grew it's industries. They went from "smokestack" to high tech. It was most Japanese Corporations making the headway and our "fat and lazy" corporations needed some "competition" to get off their duffs and become lean and productive again.

But I don't think you can compare today's issues to the 80's. The difference is that China, Mexico, etc are not really contributing by creating their own industries. It is US capital moving to these areas to exploit the resources this time around. Not the same thing at all, but that seems to be what the "free-traders" point to. They like to assume this is the same thing, it is not.

NAFTA has become the vehicle for allowing investment in underdeveloped nations for pure exploitation for profit only. The old free-trade theory is NOT the same as the NAFTA and WTO agendas. I think that's what confuses the issue.

[teryang]

15. Saw a chimp campaign banner

He is taking credit for lower taxes, lower interest rates and an improving economy.

The war to fight higher interest rates is carried on many fronts. The pretense that there is no inflation. Jawboning and manipulation of interest rates. "Keeping labor costs low" to offset the increase in prices for virtually every consumer service.

It's a con job. I wondering how long before everyone wakes up. Will it be before or after november? They say people know their pocket books. How many people have their life savings in banks getting 1 percent interest while inflation rages?

[havocmom]

16. fat cats need to get out of their gated communities and mingle a bit

so they will see they are not America! And they had better do it before America has had enough of their bull$hit and storms the gates of those communities.

edit: typo