President Obama's economic team have come and gone: Larry Summers, Christina Romer, Paul Volker, and the list of names could go on. None of these people who left or those that remain has had any effect on restarting the economy or finding jobs for our people. Their only idea is more quantitative easing.
They have all looked in the wrong places for jobs.
The jobs are in Bangalore, India and Guangdong Province in China, they have all destroyed the U.S. software systems development industry. In China, with 900,000 employees, Foxconn is the world's largest manufacturer of consumer electronics as a sub-contractor producing high quality products for sale in the U.S. by Apple, Dell, HP and Nokia.
Our at home problems are obvious. With $60,000-per-year software engineers, $25,000
per-year call center employees, and $20-per-hour manufacturing labor in the U.S., we, practicing free trade, cannot possibly compete with Asian countries practicing mercantilism with $10,000-per-year software engineers, $3,000-per-year call center employees and $2-per-
hour manufacturing labor.
Over the past several years we have hollowed out our industrial base and exported all or a significant portion of our wealth-generating manufacturing industries to Asia like: steel,
ship yards, automobiles, textiles, clothing, shoes, consumer electronics, computers, photocopying, household appliances, furniture, coffins, pharmaceutical drugs, cosmetics, soap, pet food, and candy. We now import more food for our human consumption than we export. We have moved large segments of our service industries to Asia. Asian companies now dominate green technology.
Ross Perot, the founder of EDS, and Andy Grove, the godfather of information technology and founder of Intel, reach the same conclusion: Free trade is destroying our economy. Warren Buffett targeted unequal trade agreements and proposed a method to eliminate the growing U.S. foreign exchange deficit. Nothing is being done about anything.
How about giving some of your ideas on how to fix the problem? Thank You & God Bless
Rev. John.
