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Originally Posted by socal
Seems to me to be a big mistake trying to bring back what was? We have deveoped from that time and things are different.
manufacturing jobs are going to continue to move off shore and as China continues to develop even more will go.
We have to adapt and I think that is what the great state of Ohio is not done so well. We are talking about the primary industry there is Retail. Now ask your self off all industries in the SIC distribution have the lowest industry wide net income? It is retail and sits around 1%! Don't look to that industry to put bread on the table of a family of 4 unless you are at the top of the company.
Ohio seems that in the days of manufacturing they were sitting pretty, but times have changed and the elected officials did not take action and adapt. Ohio was even on the forefront of technology manufacturing with NCR when they dominated the market.
Look at regions like the West and North east even the north central. Why is the cost of living there so high? Becsuse the demand is there. Why? Because the jobs are there and people are making money. Manufacturing, financial services, business services, Insurance.... these industries have much higher net income and can afford to pay a better salary.
Min wage is exactly that, and will always be at the poverty level. Regions that sit at the poverty level are introuble,but the answer is not to raise the min wage, it is to get those people to higher paying jobs.
Later....
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Personally, as I have stated here numerous times, it is economic suicide to not manufacturing your own goods. That's why China owns the HUGE ass trade surplus against us.
I agree Ohio didn't adjust and grow. NCR's big mistake was letting AT&T buy them and tear the company's reputation to shreds.
I find it sad that you focus only on the negatives instead of looking at my plan and suggesting positive ways it could be changed to better the country. Anyone can say, "raising minimum wage is not going to do it, manufacturing will never come back." Lot of negativity and nothing positive in those statements.
Manufacturing can comeback, follow what I proposed and we'll see it come back. It has to or this country is dead.
Ok let's look at it this way: I am a country and you are a country.
I tax everything you send me out of competition.
You barely tax anything I send.
With the taxes my country gets off your materials that come into my ports, I subsidize my industries to keep cut rate prices.
Then I ship my goods over to you and because your people cannot afford to buy anything you country makes because of price they buy my stuff.
Your factories close or move overseas for cheaper labor, and you have no well paying jobs left. So more and more of my product gets sold and your remaining factories go down.
Now, I sit with your country heavily in debt to me through trade deficits, no good paying jobs and reliant on my goods.
I up the price of my goods and start demanding payment of the debt.
What does your country do?
You funded my schools (with buying my goods), while you allowed yours to fall apart. You funded my science and engineering programs (with buying my goods), while yours died.
My military is far more ready, and better equipped.
My missiles in case you think about it, are faster and deliver payloads.
Your government is heavily in debt and so corrupt that even in small skirmishes your military is ill equipped and plagued by scandal as companies overcharge for fuel, sell you armament that never arrives, etc.
While I have the manufacturing to make sure my military has all it needs.
I own 15% of your economy and I WANT WHAT YOU OWE ME NOW or my banks are going to start foreclosing and repoing anything of value you do have.
What are you going to do to save your country now?
Because in that scenario I am China and you are the USA and it's happening right now.
And then there's Japan, Britain and Germany, all waiting to collect what's theirs.
ECONOMIC SUICIDE, we're living it now.