A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
It's already too late.Pain, lots of pain to follow.
Keep this blog going until we are completely in the depths of HELL.Us FLYING MONKEYS will throw them rotten meat to eat and CAKE for DESERT.Hear that GREG !?
Hypocrite patriots killed the USA
My guns and ammo are all made in the USA...
wait. i thought illegal aliens stealing american jobs was the problem. guess it's not pc to blame brown people for your pathetic lives. so now you blame asians.pathetic keith
So what is the origin of the star in the Wal*Mart logo???
Americans buying Chinese-made crapola at Walmart is far, far from our biggest problem.Socialization of corrupt, incompetent big banking on the backs of the middle class -- THAT'S what you should direct your rage at, if anything.That, and the US gubmint's willingness to squander Americans' lives and go further into debt on military adventurism that doesn't even help us.Name ONE THING about going into Iraq that has helped the USA."We're more secure." Bull!"We've taken democracy to the Middle East." Ha! Yeah, right."We've made oil cheaper." Um, no.
I don't blame the Chinese, just like I don't blame drug dealers for people with drug problemsI blame the Americans with "America - Love It or Leave It" bumper stickers shopping for cheap Chinese crap at Wal-MartI don't expect many of you to agree with me - today.But 10 years from now, maybe you'll understand.
i shop at target = i am not part of the problemhave you seen the prices of stuff OUTSIDE of walmart/target? who can afford anything outside of there?do you get it that i, and most of us, would be in debt up to their eyeballs is we didnt shop there? example, i just bought a bookcase for $65 from target, made in china no doubt. options for something similar were ikea, $180. some furniture store, $250+, plus shipping. where are these made, sorry everything from ikea is not made in sweden. furniture store, good chance of chinaenrich china as i enrich myselforenrich citibanksorry, gots to looks out for #1, and i most likely need that plastic thing
qweefer,One of the great things about America is the freedom to buy whatever the hell I want. That includes cheap shit from China, German cars, Italian suits and Japanese video game systems. If you want to spend 50% more to buy the same item with a Made in USA sticker, go right on ahead and waste your money. But please don't take away my right to make my own economic choices.And for a guy that hasn't lived in the US for years you really aren't a good person to lecture others about this topic.
Walmart is one of the greatest success stories in American business. Which is why socialists like Keith despise it. Quite simple really. Walmart does something very evil that the libs hate. It makes $$$MONEY$$$ and to a liberal like Keith that is worse that is the biggest sin out there.
Well Said.Where is Obama or McCain on these very issues?Just another example why neither of these presidential candidateshave the common people's interestsin mind.Americans buying Chinese-made crapola at Walmart is far, far from our biggest problem.Socialization of corrupt, incompetent big banking on the backs of the middle class -- THAT'S what you should direct your rage at, if anything.That, and the US gubmint's willingness to squander Americans' lives and go further into debt on military adventurism that doesn't even help us.Name ONE THING about going into Iraq that has helped the USA."We're more secure." Bull!"We've taken democracy to the Middle East." Ha! Yeah, right."We've made oil cheaper." Um, no.
Anonymous Anonymous said... "wait. i thought illegal aliens stealing american jobs was the problem. guess it's not pc to blame brown people for your pathetic lives. so now you blame asians."----------------------------------It wasn't an illegal immigrant who exported your job, stole your pension, or sold you a questionable mortgage. You should focus your eyes, o' brainstem, towards the top of American society.
Al-QweeferYou’ve been whining about WallMart for a while..What I do not understand is'What makes Wall Mart Unique?'Is it their success?Aside from being ahead in innovating efficiency they are not guiltier of utilizing cheap labor than any other US corporation.Unless you prefer to be ripped off in a small inefficient European small appliance store were you pay more for a toaster with a big ugly plug then we pay for a washer and dryer combined.Wall Mart is a GOOD thing!No Wall Mart is a Great thing!
Keith,Jibjab's big box mart cartoon sends a true and depressing subject regarding this.http://youtube.com/watch?v=pKv6RcXa2UI
Thank you to some of you for making my pointEnjoy those everyday low prices!
I blame the Americans with "America - Love It or Leave It" bumper stickers shopping for cheap Chinese crap at Wal-MartHey Keith, you got to check this out on patrick.net. Back in 2005 ABC's extreme makeover show went to suburban Atlanta and built a "needy" family a $450,000 house, and the town through donations gave them $250,000 cash. Well now the house is in foreclosure. Seems these cretins took out a $450,000 home equity loan on the home that they can't repay on, and blew through the cash they were given. Un-freakin-believable. This story has to make the HP Hall of Shame..
It's really hard not to shop at Wal-Mart since I live across the street from a Wal-Mart.
I don't understand what the problem is with buying the lowest priced item. Why would I pay more for something if I don't have to? Pretend China is a city in the US, what would the difference be. I do not care where my money goes--the Chinese have as much right to it as Americans do. We are all on the same planet, who cares who makes the widget.
I don't expect many of you to agree with me - today.But 10 years from now, maybe you'll understand._____Why wait 10 years? Explain it to us right now, so we'll understand.How is that Americans buying cheap crapola at Walmart is such a big problem? This is such a tiny side issue compared to how US gubmint policymaking is destroying our dollar, etc.Maybe you should focus on how we sell our debt to China to finance spending beyond our means. Maybe it's only our continued consumption of their goods that makes them feel generous enough to finance our debt, but it's not the US consumer who set this deal up.Why would any consumer in h(er/is) right mind spend more than they have to on something? I see the exact same products at Walmart for significantly less than they cost elsewhere; why should I pay more? I can AFFORD to pay more, but unlike many Americans, I like to shop around and find better deals. I like to maximize my positive cash flow, live well within my means...Meanwhile, Keith buys gold on spikes and panic-sells on dips...
Walmart is one of the greatest success stories in American business. Which is why socialists like Keith despise it. Quite simple really. Walmart does something very evil that the libs hate. It makes $$$MONEY$$$ and to a liberal like Keith that is worse that is the biggest sin out there.______It's only a sin to him because he hasn't figured out a good scam, or even something honest, to buy into...or sell out to...yet.I'll compare a local Walmart Neighborhood Market (small grocery store) to the big chain grocery store across the street - it's a Fry's.Fry's has a good selection of stuff, a huge deli, nice produce, it's well staffed, someone will carry your stuff out for ya...but the prices are high.The Walmart Neighborhood market is smaller, has less selection in most departments, they truck in all of the meat with no on-site butchering, but it has everything you need in a straightforward layout, with adequate staff. THEIR PRICES ARE LOWER, often 4% to 5% on several items I've priced.OK, so I'm an evil person for shopping there. It must mean I'm commie-lovin' trailer trash, right?All of you who want to spend 4% to 5% more patronizing your local grocer, please do so. What you're getting in return, I have no idea.
Two words: SLAVE LABORhttp://sabrael.net/users/doug/indytruth-200806282.mp3
I don't expect many of you to agree with me - today.But 10 years from now, maybe you'll understand._______Keefie, Keefie.You're the one who needs to understand.You get that there is a housing bust. Big deal, so do a lot of people.Stop the self-congratulatory wanking and take an econ 101 class.
You people are douchebags. The point of the post is not specifically directed at Walmart or China. Of course you can buy the same Chinese crap at Walmart or Target or whatever f*cking store it is that your fat potato chip eatin ass likes to shop at. Of course you can buy whatever German, Japanese, or Taiwanese product that you want at Walmart or Target or whatever f*cking store your fat potato eatin ass shops at. The point is, there was a time when America was the envy of the world wherein its citizens would not even think of buying a foreign made product. On the contrary, we took pride in our work and made products that the entire world wanted. As a result, WE grew extraordinarily wealthy.
Ragging on Wal-Mart is not really informative of the problem. Certainly Wal-Mart's hands are dirty (ask Bill Clinton about that) but the larger problem was the inflationary dollar policy since 1971 that raised taxes inside the US, driving out industry. Wal-Mart importing mountains of junk from foreign countries is a symptom--not a cause, and certainly not a cure. Slug
The point is, there was a time when America was the envy of the world wherein its citizens would not even think of buying a foreign made product._______Oh yeah, and exactly when was this mythical era you speak of, punter?
Two words: SLAVE LABOR______Yeah, so?My house was built with Mexican slave labor -- or at best very low-wage labor -- yet somehow I sleep well at night.
anon @ 10:00pm:4 to 5%? try more like 15-20%. At Publix a gallon of milk is $4.89. At a walmart about 3/4 of a mile down the road, it is $4.09. Exact same product.And the same can be said for almost all every day items like detergent, soap, toilet paper, etc. Exact same products but at Publix 15-20% more expensive.People who shop at Publix or Kroger or Vons when they have a walmart next door are economic fools.
Take a look at a parking lot next to WAL-MART and you will see lots of Chevys, Fords and Chryslers. But go the parking lot of a Trader Joe and it's all BMW and Lexus.And yet the likes of qweferino thinks the working stiff in the beat up Chevy buying cheap goods at WAL-MART is the unpatriotic of the two.
Doing the easy thing is not doing the right thing. Acting in your own self interest is not acting in society's interest.But don't let me stop you. No, keep shopping at Wal-Mart. Keep buying Chinese. Just keep it up.I know how that story ends.Too bad you don't.
WalMart isn't doing anything different from most other retailers and grocers in the United States, except that it just does it more efficiently. I understand that it is a symbol of a lot of serious problems undermining America, but it isn't the real cause of them.It goes directly back to our government.Our jobs being outsourced for slave-labor is appalling, but that is something that our government is supposed to control.Fatally toxic, poisonous, and contaminated imports from China and Mexico that have gone unchecked for decades is also the fault of our government.Like I said, none of this is exclusive to WalMart, and went on long before its existence. I shop there, but I buy products made in the States where ever possible.
I like our new flag can I buy it at Walmart?
"We are all on the same planet, who cares who makes the widget."We are all on the same planet, but we are not all on the same page. You should care about who makes that widget, because making a purchase supports the entity that made it and all of its ideologies and practices. The ideologies and practices behind almost all of China, Mexico, Vietnam and etc are not what true Americans should ever consider supporting. When you buy that China widget you first support China itself, than the slave-labor as opposed to American jobs, poor humanitarian rights and conditions, and unregulated products.
"People who shop at Publix or Kroger or Vons when they have a Wal-Mart next door are economic fools." Well that's true if you realize that the system is going to collapse anyways from deficit spending, trade deficits, the loss of manufacturing and technology jobs and that there’s not a damn thing you can do about it. I'm an IC designer and I can tell you the US advantage in tech is slipping quickly, in every area. Do you think we can all work in the service industry? Can we all work for Wal-Mart or Target part time with no benefits? Why do you think the milk is cheaper? It's great to buy cheap plastic cups until you loose you job at the plastic cup company. I enjoy being an IC designer but I know that the day is coming when I will loose my job to a Chinese IC designer, or we will both work for the same compensation in which case I'll be earning about 20K a year. It’s just not cheap plastic cups anymore, the worlds most advanced sub-micron plant is in Shenzhen not Silicon Valley. So many typical uneducated responses. It’s all me me me me…until it is you who is out of work and then you bitch to the government and demand unemployment and welfare checks. You need to travel outside the US and see what’s happening. A Burger, fries and a beer in London is $25.00 US. Try to contemplate why that is for God’s sake and how it will affect your future. If you don’t care because you don’t travel to London then you’ve missed the whole f+#*ng point and can drive your fat carefree ass over to Wal-Mart to pick up a bean bag chair and a bag of potato chips.
FXICant beat em join em
That's a supercilious post, Keith, but point taken that the whole set up was a nightmare in the end to Americans. I think the high price of oil will make WalMart less cheap, and the demand for American "stuff" will pick up, with the cheap dollar.Personally, we seldom go to Walmart. There are closer stores, and there is no food at that Walmart. The quality of many items are pretty crappy, and you could end up buying the same thing over and over again every year as it wears out in short order. Problem is lots of stores carry stuff made in China.
America's other obsession, other than walmart - suburbs. Have fun living out in suburbia with your diabetes and hypertension fattiesReport: living in the suburbs may make people fatterhttp://www.webmd.com/fitness-exercise/news/20080729/neighborhood-walkability-linked-to-weightBwahahahaha!
blaming walmart for outsourcing is like blaming GM for drinking and driving.
Can someone please define "cheap Chinese crap"? I buy carefully, and everything I have purchased at Wal-Mart has done its job and has lasted a long time. And none has gone to waste.
Anon 11:30, I was London 11 years ago and guess what, a burger and fries and a beer was about $20. I was in London in 2005 and remember paying over $8 for a gallon of gas. Shit in London has always and always will be outrageously expensive. If you think this is a recent phenomenon you are truly a simpleton.And a burger and fries with a beer for $25 can easily be found in NY, Boston, DC or any other big city in the US. In other words you are a moron.
Any imports (even by American Companies ),should have a tax put on it . This will motivate corporations to provide jobs to America. Lets get serious ,having a world labor force is a joke and it benefits the Corporations far more than it does the American people . The fact that you might have to pay a little more for products that are produced in America ,is a small price to pay to keep jobs here and to stimulate the economy by having employed people spent money here . The fact that Americans have been conditioned to accept the junk made by other Countries slave labor ,is a joke. The crap made abroad falls apart ,it's toxic as all get out ,and its made in plants without the same productions as in America . The cost of foreign labor has been the biggest con job that the Corporations have thrown on the public here in America. Do you think China would be stupid enough to have America product all their products ,or any country for that matter .If you look at the overall cost to the America society by the switch-over to foreign production of our products ,there is no question that its has been a fleecing in favor of the Corporations . Just who has been controlling this country for the last 15 years anyway ? I admit that the Unions of America went a little to far with their demands in the past , but that could of been settled and worked out ,but instead Big Business sold America out to the lowest bidder labor force around the world . I bet the china man doesn't get a health insurance policy or profit sharing . What is the justification for America giving up their production base and their jobs to the World ? What can they say . That America gets to buy cheaper products at Wal Mart ,but x million will be out of work who will starve and not spend money in the economy ,so we can get some cheap junk .In all my years ,it was rare that anybody was killed by toxic food or anything produced in the USA . Free trade is find if you add the necessary tariff or tax to even out the playing field .But this would only be true if there were strong protections on the quality of stuff coming in . The American people cannot continue to sell bubbles to each other to make a living .....do you get it. So go ahaead and keep thinking that your getting a great benefit by being able to buy cheap junk from Wal Mart ,but don't discount the American peoples ability to make cheap junk also . So much of that junk from China is marked up way more than it should be also. Nobody ever said that the USA owed a duty to the world to give it all our production so they could raised themselves up . This is PR spin by the people that benefit by the USA cutting off their nose to spite their face . In every way ,shape and form ,you will discover that Corporate America ,including Wall Street ,with its evil greedy ways has been controlling the money markets ,the cheap goods markets and you name it ,especially in the last 12 to 15 years . The PR campaign for a Global work force will accuse you of being to protective and its good for the world to be uplifted .Maybe China should start producing for their own people and maybe China should give their people a live-able wage .I remember when my parents use to say the old ,'Eat your food because people are starving in China." I use to say back to my parents ,"Than they can move to America if they want to ." I was native ,but you get my point.
Our economy started collapsing a long time ago. American Women went into the workforce because their husbands wages were not keeping up. That looked like a new prosperity, except for our kids whom we had to abandon to organized babysitting Then after free trade shipped our jobs overseas and our dollar started falling, we had to have stores like Walmart where we had a pretense that our wages were going to pay for our necessities. Now that our jobs are overseas, our wages are cut - I personally make 60% less this year than last, even Walmart is raising prices. Like I said many years ago, you keep buying a cheap hotdog everyday for lunch, and one day that is the only choice you are going to have.
If you can't see that a self-serving Big Business America took over ,while the USA was busy selling homes to each other ,you don't understand the rein of the greedy power hungry Corporations and Wall Street that will make money anyway they can . All this idealist talk about having a competitive global world is just talk . As you can see it doesn't work out the way it was intended . First ,does anybody buy the notion that Corporations outsourcing jobs will reduce the possibility of war between countries ? Why does the USA think they can impose their standards ,which are dropping ,on the rest of the world anyway . Just tune into a foreign blog and you will find out how the rest of the world views the USA . If it isn't envy ,its hate . If foreign countries want to copy America ,than they can ,but for America to attempt to go world -wide regarding the labor source is not helping America who is in need of jobs and home style producing again .
Who cares? We (all of us in this world) are all one anyway.Just think of foreign countries as different states in the US.Nobody has a cow when they buy an avocado from California or a lobster from Maine.
At Publix a gallon of milk is $4.89. At a walmart about 3/4 of a mile down the road, it is $4.09. Exact same product.I pay $1.89 per half gallon at Whole Foods. If you stay away from the "gourmet" stuff, Whole Foods isn't expensive.
Wow. All these posts regarding the wise economic decision of getting something for less at Wal*Mart and most of them point to groceries.It's the fact that all of the people need to buy so much "stuff" that usually ends up piling up in their garage, basement and attics that never sees the light of day until the next yard sale.It's about quality, not quantity.Where were your "all the bells and whistles" home theater systems made?Did you know that you can get a MUCH MUCH better stereo that is made in the U.S.?How many articles of clothing do you have that you don't wear?Why did you buy them?Were any made in the U.S.?Try being a minimalist for a change...you might like the feeling of not needing or really wanting to buy anything.Keith...I gotta say...even HPers don't get it. HP is more than just "getting a cheap house".
I have some personal experience with Wal*Mart and their strong-arm tactics (bright light/rubber hose) in their Bentonville, Arkansas buying offices. They are scum. They basically forced all their suppliers/manufacturers/vendors to China.The knock-out punch to our economy is going to be the downward pressure on wages...which is just beginning. Good luck working for $.50/hour.
It's not Walmart's fault, Chinese' fault, or even the fault of the American public. The real cause of the problem is the government and fiat money system: when the government routinely loots everyone to prop up the financial industry, when the gamblers on Wall Street gets paid millions in bonuses when the going is good, so their millions can out-bid anyone else' demand for luxury cars, houses and fancy dinners . . . whereas when things go bad, everyone else gets drafted into paying their billions of gambling debt . . . what manufacturing job can possibly hold a candle to those glitzy gambling jobs? That's why the brightest youths in America did not go into engineering schools any more, they went studying financial engineering!There was a time when Americans bought American made goods; heck,American goods were sought after the world over. . . that's when the government was small, and innovative American companies got to keep the fruit of their own labor. Ford was the standard of automobile the world over in the 1920's because they were cheap! They were 1/10 the price of MercedesBenz! Because Ford had a much more efficient production system than MB. GM was put together by the financial interests to combat Ford. The easy financing took market share from Ford. The same easy financing eventually produced the 1928 bubble. As the bubble bursted, things started to change even more dramticly for the worse in the 1930's, Henry Ford was practically ouste from his own company. From then on, the road to riches in America was no longer entreprenureship but old world political skulduggery! By the 1960's, being on the benefitiary of government redistribution programs became far more important than being productive. Heck, being productive just earns you a higher tax bill. Manufacturing firms would have to endure the full brunt of market vagaries, predatory taxation and suffocating red tapes . . . whereas the financial industry firms would enjoy the government protecion against market vagaries and be the recipient of governmetn capital injection whenever needed. Any wonder why capital allocation in the US became heavily tilted towards the financial industry instead of manufacturing?Consumers buy less expensive imports and kids going to finance schools intead of engineering schools are just natural responses to the government intervention in the market place to favor financial industry at the expense of manufacturing and everything else.
okay wiseass, where can you find something that is not from China?Please advise....
OK. Maybe start a thread on where to find USA friendly merchandise? I acknowledge the problem, but kicking the can does little to help address the problem. Where can we as consumers help our own fate. I hope that given the doom scenario there is an optio to us...Thanks.
What's more attractive, $1M USD or an 80 year old prostitute with 65 years experience on the street?"Hey China, give us money so we can buy your cheap crap. Our army's of waitors, school teachers and 6%'ers will pay you back, we 'promise'... pinkie swear."
Would be funny if that great American success story Walmart was responsible for the financial enslavement of the American people(and your great grandkids)to the Chinese. If you have to worry about $4 milk versus $5 milk then YOU are already there. How does that make you feel????I beg you to do something about it.
Keefer,I read the wired article you linked some time back and do find Walmart's practice of blowing up suppliers a bit outrageous. That is not sustainable and will come back to bite them. Let's look at Chinese made goods. At some point exchange rate will drive competition back to another source including domestic production. Price should drive this at some point.However one disturbing thing I've noticed is that even though the US dollar dropped significantly in the last year our trade deficit is higher than before??? WTF? This is a bigger problem. No country can sustain a trade deficit especially of the size we carry and the fact that it's growing while our currency is getting weaker is most distrubing. Can you do a post on this topic?-Mike
I don't like walmart cause its always too disorganized and crowded, long lines, etc. Shop at Target instead. I have found some food and hygeine items (exact same name brand product, not store brand) for literally 40% less at target than at even the relatively good grocery store chains like stop & shop. The mom and pop grocery stores, forget it. Boycott google(incl blogspot!) and yahoo! for outsourcing tech jobs to bangalore, then we'll talk! LMFAO. Not a real suggestion, of course. It's every man for himself. I'm quite confident most people, American or Chinese, Messiah Obama or McSame, do not give a rats a$$ about my finances..Someones got to watch out for me. Who will do it if I won't?
WalMart isn't the disease. It's the opportunistic infection.
Keith:The problem isn't wal mart or exporters. There's absolutely nothing wrong or unamerican in buying imported goods. The trade imbalance is entirely due to monetary policy and the dollar's former status as the reserve currency. In a normal economy, in the long run, there are no trade surpluses or deficits. "But don't let me stop you. No, keep shopping at Wal-Mart. Keep buying Chinese. Just keep it up.I know how that story ends."The dollar is toast. Too bad we squandered the the privilege of having the world's reserve currency. It'll be a nasty unwinding.
The idea that it is possible to buy American products here is nonsense. It doesn't matter where you buy it from.I tried to buy American only for a month to prove a point that it can be done and it can't. Even the most basic inputs are Chinese made so "American Made" food still has Chinese ingredients.I run an American company hiring Americans and I am shutting it down. I am sick of the constant harassment from government at all levels. I am tired of the bizarrely irrational demands from customers which are getting more extreme with each passing year.The company is over ten years old and is profitable.So on the point of you get the country you deserve I do agree with Keith.On the point of "Buy American" please do some f...king research before you bang on about this again. Visit the US and buy American. NOTHING IS MADE HERE!
"okay wiseass, where can you find something that is not from China?Please advise...."Spend every dollar as if it were a vote. How much of that Chinese crap do you need anyways?
Anonymous said... Oh yeah, and exactly when was this mythical era you speak of, punter?Right around the late 80’s early 90’s. Around that time frame, Wal-Mart’s advertising complain/claim to fame was “Made in America” products. Everywhere you went in the store and on what seemed to be most products; there were “Made in USA” stickers.
WARNING:There has been a slowly escalating media attack on China that started about 18 months ago. Dog food, kids toys, tires. Not to say that there aren't problems with some Chinese products, but the media sure made it a huge story. We are being set up to blame the Chinese for our woes. We're going to have to blame someone for our coming disaster and I think it's going to be China. Perhaps they are going to dump our Treasuries and buy gold (I would). After the Olympics, an all-out anti-Chinese blitz will begin.I think we need to be very careful, as the finger of blame will be pointed in many directions, except at ourselves.
Shit in London has always and always will be outrageously expensive. If you think this is a recent phenomenon you are truly a simpleton.Since you touched the subject, can anyone explain to me what kind of BS measurement makes the United Kingdom have a currency that's 2 X the USD? Here we have an inky-dinky island that doesn't produce crap, doesn't have any natural resources, has a population of 60 million, a socialism that tax you to death, a housing bubble larger than ours, a stinky GDP of 2.2 trillion, but their Sterling is 2 X the value of the American Dollar.Meanwhile, The US has a GDP of 14 trillion, rich in natural resources, a major commodities producer including food, huge industry and services economy, large population of consumers, one of the largest countries in the world, the biggest economy in the world, etc, etc, etc.So what kind of BS are these Brits valuing their stupid currency on? Fish and chips? Perhaps is based on Amy Winehouse's crappy music. It's time to call BS on the valuation of the British Sterling. Oh and don't come with the "The UK is the center of Financial Services" excuse because that's not reason to have a currency 2 X the value of the American USD, especially now that financials are in the toilet.Hell, the Germans shit on the head of Brits but their currency is still lower than the Sterling. I call BS on the Sterling.
Right now, in SE Michigan, there is huge demand destruction going on. Craigslist has hundreds of posts for things for sale daily, as people just need money, and are trying to move out, for whatever reason. It isn't about the Chinese race to the bottom in terms of quality and price, it is that people just can't keep buying stuff right now and that is creating its own bottom. I have heard that the big story overseas is about the demand destruction.Sure, the Chinese can continue to make crap, but there needs to be a market for that, and that market is drying up. So, it's going to be tough luck for the Chinese that we ran out of money, or in fact, our money is so devalued and inflated, we sort of have money, but it doesn't count for much, and it will continue to not go to them. Money won't be for stuff, it'll be for food and housing, and necessities. There was a special on TV, CNN or one the news networks, that Chinese parents that are well to do, don't like to buy Chinese toys, as the quality is so poor. That says volumes.
qweefster,When's the last time you bought anything made in the USA?
"Since you touched the subject, can anyone explain to me what kind of BS measurement makes the United Kingdom have a currency that's 2 X the USD?"Simple. The UK doesn't print/create as many pounds as we do dollars. The absolute exchange rate really says nothing about the health or vitality of the economies of two countries.The Mexican Peso is worth 10.75 yen. Does that mean that mexico is 10.75x better than japan?
1980s: uneducated, racist Americans convinced evil Japan was taking over1990s: uneducated racists think brown people from Mexico making $5 an hour cutting lawns will take over2000s: uneducated racist Americans think China will take overSee a pattern there morons? Your lives are pathetic so you need a scapegoat. And it is always the foreigner, be it brown or yellow. In the 2010s the new villain will be space aliens right?Here is what you do: get an education, get a job, stop spending 24/7 reading paranoid, white power blogs and you'll see the world ain't so bad.
...Walmart...socialists like Keith despise it..."Wall Street: socialists like Bush/Dodd adore that BAILOUT.
"...A Burger, fries and a beer in London is $25.00 US. Try to contemplate why that is for God’s sake and how it will affect your future. If you don’t care because you don’t travel to London then you’ve missed the whole f+#*ng point..."Heh.Right to the heart of what is SO fucked-up about our society: NOBODY gives a hoot about anybody else until it is THEIR OX being gored.Ever heard the saying "divide and conquer?"Game. Over.
Keith, the Chinese have been helped along by this country going back to the Nixon Administration and it was done to try to counter-balance some of the influence that the old U.S.S.R. had in that area of the world. As oil prices have increased, many manufacturers are discovering that it would be cost efficient to re-open their old US facilities and make products here as opposed to continuing to import from China. Want to try on your contrarian hat for a second? What if Wal-Mart decided to start opening manufacturing facilities in little towns to make the stuff they sell? Then they would control the product sold from manufacture to shipping to retail.Don't forget who brought you $4 prescription drugs for many. They have a tremendous capacity for both good and evil - kind of like people.Smug Bastard
so where am I suppose to buy my underarm deodorant. when U.S. workers were screaming buy American everbody in America complained it cost more to buy American and shipped jobs to Singapore, Bangladash, Taiwan and who knows where else. Americans were happy because it was cheaper. China soon learned that the deal was to make alot of junk sell it cheap 25 inch (tubed) tv's for 150 bucks, pants for 10 dollars, underwear buy 5 get two free (5 dollars), dollar stores galore. Then begin to buy american companies and send products with familiar American names but owned by China. So I ask again after 25 years of this where do I buy my underarm deodorant because if I buy it at the grocery store the cash still goes to China. Your WalMart analogy is a little like hating the game because you are the looser. So when American's finally agree to work for 5 bucks an hour like illegal immigrants (betcha those jobs will come flying back over here, but they never will because you can't pay the bills), grow our own food and buy some of those books (assembled in China) on living off the land we are stuck because once again where do I buy my underarm deodorant.
"Good luck working for $.50/hour."50 cents an hour is not all that bad when a loaf of bread cost only 5 cents, a car $200, and a house $2500. That's how much dollar was worth back 70+ years ago. That meant a car was worth 400hrs of an average manufacturing worker's labor, and a house 5000hrs. Today, the numbers are roughly 2000hrs and 20,000hrs respectively! Why such a big change? Because all the bureacrats who do not produce anything that be exchanged for cars and houses in a free market have to share the fruit of your labor; all the insiders who have connection to government bailouts have to be paid double, quintuple, octuple, a thousand fold for their government connection to loot taxpayers to bail out failing businesses. Inflation is a legal counterfeit racket: the counterfeiters and their friends steal from the actual producer without ever needing to carry out break and entry.When the mob runs the town, the youth simply take up joining the mob as a career path instead of honest lines of work. That's why financial industry has replaced manufacturing in America.
Only Americano uneducated underclass bottom-feedrs support Wal-Mart and shop there.Like drug addicts who keep shooting up dope, one day they wither, shrivel and keel over.
"I know how that story ends."The same way the Japanese and Taiwan story ended? Sweet! Let it roll!www.buyamerican.com - for those of you (most of you) too lazy to do anything for yourselves. Enjoy browsing from the comfort of your parents' basement.
Keith, On this issue, you have put the carriage before the horse ...So who is to blame? The American people who buy cheap stuff from China, or the corporations who moved production overseas and deprived them of their middle-class decent income?I think the blame should be on the Corporate America. In their relentless pursuit of short-term profit, and in the name of globalization, they moved the production overseas, and that impoverished the American people. What do you expect the poor people to do? Buying expensive American-made products **without** a job that offers a decent wage?
The rich people takes away the job from the working people, and then blame them for buying cheap stuff.If you allow me to deprive you of water, I will certainly accuse you of being dirty.Oh well, people will buy stuff that are made in the America, if the products are of higher quality and people can afford it.
In Oregon, I shopped at a store called Winco as often as possible. I usually saved at least 30% overall on my regular groceries (not much of a prepackaged mix type person).Winco is employee owned, we bagged our own groceries, and we saved as I said at least 30%..yet they made a profit consistently enough to stay in business.Now I live in suburb of Colorado. If I didn't shop the specials at major chains and fill in at Walmart, we would literally go hungry.So what would you have me do?Penny K
Toothpaste, body wash, shampoo, grocery items, all that is $2 to $3 cheaper at Walmart. Am I unpatriotic by not paying $7 for my toothpaste and the supermarket when I can get it for $4.50 at Walmart? I have a limited income. I need to save money wherever I can. People don't shop there to support China. They shop there because the supermarket, drug store, and Target (French owned?) charge so much more, and people do not have the money. Besides, my toothpaste is made in Canada and allegedly the body wash is from some country called USA. Poor people have to shop at discount stores.
American made products are in general poorly built. Most manufacturing in the US is union made. And most union members are drunk/high, unskilled pieces of human filth. I personally go out of my way to buy foreign goods knowing that "Made in America" might as well say "Piece of shit union made product". Only simpletons will buy American made products.
Just watch the business news for one week and you will find that the talking heads talk more about global markets than they care about what is happening to the old USA . If you gave a Corporation it's way ,it would ignore Americans starving but than say the Business expects to make up the slack of Americans being broke by selling globally and than they would go into how well they are doing in XYZ Country .It's just shameful. What goofs greedy people are . They shoot themselves in the foot . Did a thought take place in the greedy pigs minds that if Americans don't have jobs they won't be able to buy their hyped up products ? They are stupid to think that they can starve the American work force,yet continue to expand ,but that's all they care about. Expansion in a WORLD of consumers .I suppose USA Corporations think that Americans can support them by buying their stocks ,with no jobs, but that's OK because they can sell their stocks to the WORLD. Than after the investments go bad than Wall Street can insist that the poor taxpayers of the USA can pay for their losses ,when they won't even provide live-able jobs for America. Wise up everybody . You can't have a global world economy unless all countries play by the exact same rules ,which is never going to happen .You would have to standardize all wages World wide and the cost of living would have to be the same in every country and you would have to have the same law and protections . This will never happen so it is silly for the Corporations to try to BS why they are using slave labor for production . It's greed ,G-R-E-E_D
Anon 9:25,You are making the same carriage-before-the-horse mistake that Keith made. Why do you think Corporations eliminated domestic manufacturing jobs and replaced them with financial jobs instead? The government tax all corporations, but only bail out financial corporations not manufacturing corporations. How would you like playing a betting game with me, where heads I win tail you lose?
I realize that it is easy to blame corporations for globalization and cheap rubber dogshit sold at wal mart. My view is that corporations will do whatever they can to provide a profit to shareholders.. Let's reflect on why companies try to earn a profit...Because we invest in them to fund our retirements. Investor demands drive corporate action. How many on this board have invested for retirement 100 percent in CDs or have all of your cash in a savings acct hoping to retire..
In response to the poster who said they didn't blame the Chinese . I can't stand that Country ,but how can you blame the Chinese for trying to uplift themselves by selling cheap products to the United States? If the USA brings manufacturing back to home soil ,I hope it's with pollution control . Have you ever see the pollution in China ,it sucks.
"You would have to standardize all wages World wide and the cost of living would have to be the same in every country and you would have to have the same law and protections."You are paraphrasing Karl Marx, my friend. Do you grow your own potatos, build your own car, and make your own microprocessor so you can surf the internet? Obviously, the $20k a year Idaho farm hand, the $60k a year Detroit autoworker, and the $100k a year Silicon Valley engineer make vastly different amount of money and have different levels of income, so you can't possibly match all of them at the same time. So by your logic, you can not trade with them at all!Trade is what promotes specializations and let everyone focus on what they are good at. That's how the wealth of society is created. Likewise, differing governments make improvement of government possible through competition. Your vision of a global government equalizing everything is bound to become a nightmare.
Simple. The UK doesn't print/create as many pounds as we do dollars.rrrright, the UK doesn't print money, only the US does. Sure, buddy.
Look at the sign of your local WalMart next time you go by:See the tiny RED STAR between the letters "Wal" and "Mart"? Now look at the RED and YELLOW Chinese flag: same star. And if you EVER thought about it, you no doubt thought the STAR was part of the WalMart emblem as a tribute to the "Lone Star" state? Nice thought, but WalMart is based in Arkansas, not Texas.It's pretty clear they're paying tribute to their #1 supplier of cheap trinkets, China, the country that made the WalMart "revolution" possible.And it's been staring everyone in the face, all these years, but Joe Six Pack was too busy being distracted with his inexpensive Chinese trinkets to put two-and-two together. When he finally loses his job, maybe he'll get it then (or NOT).
The only things I can find that were made here in the USA:Budweiser beer Guns Ammunition Knives MatchesZippo lighters.
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