Is outsourcing/offshoring the biggest threat to the US general economy?

[AlephZero]

I've been involved in lots of these economics threads, and know lots about economic history. But I have no desire to become an expert in economic history, knowing every bubble that ever existed. On top of that, It's irrelevant to the thread topic.

Well, I think it's relevant to the constancy of human nature that a lot of economic pain was caused by the public at large being fleeced by financial "experts" (in the UK in 1720, and in the US in recent history). But I accept some people think history didn't start until 1776

So are you one of those "investors" that had to change his panties on July 6, 2007?

Sorry, you lost me there. I guess that must be the date of something significant in US economics (though Google hasn't told me what it was) but I'm in the UK.

GE has been not been playing by Adam Smith's rules.

First, every individual endeavours to employ his capital as near home as he can, and consequently as much as he can in the support of domestic industry; provided always that he can thereby obtain the ordinary, or not a great deal less than the ordinary profits of stock.

Note the words "endeavours" and "provided that". Sometimes the grass really is greener in the next field.

 

[OmCheeto]

Well, I think it's relevant to the constancy of human nature that a lot of economic pain was caused by the public at large being fleeced by financial "experts" (in the UK in 1720, and in the US in recent history). But I accept some people think history didn't start until 1776

Well, I know for a fact that history started around 3500 bc:

Sumerians first created their cuneiform writing ... more than 5,000 years ago. ... These clay tablets ... contain the world's first epics, the first recorded histories, the first medical prescriptions(thank freakin god!), the first accounting ledgers...

little&boldscript mine

And according to Christopher Woods (2010), "The earliest Mesopotamian writing":

It wasn't for another six hundred years before King Mebaragesi could brag about how many goats he had.

ie. I have 300 goats... vs. I have 300 goats. Ha ha ha ha ha ha. I got more than you do. (I'm fairly certain that Parker and Stone are both of Kish decent.)

Sorry, you lost me there. I guess that must be the date of something significant in US economics (though Google hasn't told me what it was) but I'm in the UK.

I wish you kids would update your profiles with where you are from. This is a U.S. hosted forum, and this is a U.S. centered thread topic, with over 250,000 members from all over the world. I cannot keep all of you straight in my head.

Anyways, July 7th, 2007, was the day they repealed the uptick rule here in the colonies. Just a few months later, the market started it's; "I think I'm going to be sick, no wait, I'm fine, urp, oh wait, urp, oh don't mind me, I'm fine, holy crap, vomit" collapse. The fact that you made a 40% return on your investments while the markets tanked in 2008, implied in my little feeble mind, that you were shorting everything. Not a bad strategy by the way, given there's nothing wrong with it, it makes the markets more efficient, and it was outlawed for hundreds of years in some parts of the world.

Note the words "endeavours" and "provided that". Sometimes the grass really is greener in the next field.

I don't watch TV anymore, but I was at a friends house the other day, and there was talk of our companies moving to Ireland. They've got fairly green grass don't they?

Oh wait. That was tax avoidance. I keep mixing up these two damned threads.

What the hell is this thread about? Outsourcing. hmmm...

Complicated topic. Everything is fine "economically", unless of course, it's your job that get's outsourced.

Surprised that the Chamber Opposed Anti-Outsourcing Bill? Don't Be...
Posted by Christy Setzer on September 28, 2010

If you were surprised that the US Chamber-- an organization that announced, with much fanfare last year, a campaign to create 20 million new jobs-- OPPOSED the Senate bill to crack down on outsourcing, well, don't be. The giant lobbying organization's been pretty keen on outsourcing for some time now. Here are some of our favorite quotes from the Chamber on taking American jobs and putting them overseas:

Odd that all of the quotes are from 2004.

hmm... time for my meds. bbl.

 

[GRB 080319B]

From Norman's thread How to make $5.1 Billion (US) and not pay federal taxes : http://www.nytimes.com/2011/03/25/b...580187-HWK/YsUY3H85DTyZ4E8 3Q&pagewanted=all"

While G.E.’s declining tax rates have bolstered profits and helped the company continue paying dividends to shareholders during the economic downturn, some tax experts question what taxpayers are getting in return. Since 2002, the company has eliminated a fifth of its work force in the United States while increasing overseas employment. In that time, G.E.’s accumulated offshore profits have risen to $92 billion from $15 billion.

“That G.E. can almost set its own tax rate shows how very much we need reform,” said Representative Lloyd Doggett, Democrat of Texas, who has proposed closing many corporate tax shelters. “Our tax system should encourage job creation and investment in America and end these tax incentives for exporting jobs and dodging responsibility for the cost of securing our country.”

 

[Al68]

Well, I know for a fact that history started around 3500 bc...

My bible-thumping uncle agrees with you, but I'm one of those radicals who actually thinks we've been around a little longer.

 

[BobG]

Well, I know for a fact that history started around 3500 bc:

My bible-thumping uncle agrees with you, but I'm one of those radicals who actually thinks we've been around a little longer.

According to the Merriam-Webster dictionary, "history" didn't start until the 14th century.

http://www.merriam-webster.com/dictionary/history

 

[Al68]

According to the Merriam-Webster dictionary, "history" didn't start until the 14th century.

http://www.merriam-webster.com/dictionary/history

Yeah, that's it, we were referring to the history of the word "history".