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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (512819)	12/19/2003 12:38:44 AM
From: AK2004	Read Replies (1) \| Respond to of 769670

re: Because labor intensive work is now offshore, where there used to be 50 people here doing work now there is just me, and an offshore team. well, that is what makes you competitive - would you rather not to have a job at all? re: 1) designing it here, 2) building it here, 3) selling it here. if they manage to bring foreign money here in a form of profits then is not that good? re: Here is an economist that "gets it" I get it but that is what competition is about. The economic power of US was build of steel, making best cars and later consumer electronics. We have not been making those for years now but we adopted and became even more competitive. We need to do the same again. re: When Bush liquidated the treasury I lost you here...

To: Lizzie Tudor who wrote (512819)	12/19/2003 8:06:45 AM
From: Oeconomicus	Respond to of 769670

It's the Twilight Zone economy. LOL. Now I know where you get your brilliant economic insights, but this line was even better: "Since humans don't seem to be making all this stuff, you are probably thinking that it is being made by aliens from outer space working secretly in our factories during the graveyard shifts," he said in his forecast. This one is the most telling, though: "GDP is meant to be a measure of stuff we produce in this country," he said. Of the latest quarterly GDP report, he added: "I don't believe it." He knows what GDP measures and he knows it's showing strong growth, but he simply refuses to accept it. Lizzie, pop your head out of California once in a while - and I don't mean "virtually", wandering to some South African news site to find some doubting thomas UCLA b-school prof quoted. Your parochial perspective is preventing you from escaping the Twilight Zone. American companies are selling stuff, but they are not 1) designing it here, 2) building it here, 3) selling it here. That means this money is not being distributed in our economy. You make a good parrot. Prof. Rod Serling tells you "The strength was in consumer durables, consumer nondurables, and business equipment - all material stuff," but that "Factory workers aren't making them, the factory sector isn't producing them, and delivery men aren't bringing them..." Well, he at least read the GDP report - as I posted to AS last night, those were the big areas of strength. But then you and he simply deny the only possible conclusion from these facts. Lizzie, what you and he are doing is called "slothful induction." Of course they are "designing it here" and "building it here" - that's what "gross domestic product" measures. As for "selling it here", well, exports did grow much faster than imports in Q3, which IS a good thing, but they ARE also "selling it here." Again, personal consumption expenditures (your 70%-80% "not participating") were up 6.4% (durables +26.5%) and business investment in equipment and software was up 18.4%, faster growth than in the peak bubble quarter you consider the "good old days". What, Lizzie, are consumption and investment spending if someone is not "selling it here"? Come out of your personal Twilight Zone, Lizzie.