Hightech jobs recovery Don't believe the hype 1675

The Trucker

Natural resources do not suffice to consbreastute a fountain of wealth. For example. Canada has more natural resources than the USA -but is poorer than the USA. So does australia.

lemme see if I can enlighten you on this:- ----------------------------------------------------------------------- What is wealth? Anything that can be traded in lieu of something else can be defined as wealth. It can include physical goods like gold, iron, steel, copper, cotton, food, water, lumber, clothes, tech products, real estate etc. or something harder for you to visualize like services. When a person works in a company, he provides services which result in the company being able to sell something in lieu of something else. In present day, companies trade in their products for money and pay their employees in terms of money.

What is money? It is a concept as defined by the ancient Egyptians to facilitate the transfer of wealth. Instead of your employer paying your compensation in terms of a house, food and wine for the week, and clothes -he just pays you the equivalent in terms of money. That money can be paid by you at a shop to obtain wealth.

When you place a dollar bill or any other currency for that matter over the counter, you expect something in return -which is trade-able goods and services aka wealth. The amount of tradeable goods and services the currency note you hold can buy -is the purchasing power of the currency. When people stop honouring your currency, its purchasing power drops. Why does it drop? Coz the ability of the currency to buy the shopkeeper something in return has dropped.

When your govt brings in slaves that you consider a burden on your country i.e., H1b H2B, L1s , illegals (they are clbuttified as illegally present -but legally allowed to work i.e. employers are allowed implicitly or explicitly to employ them and not face criminal punishment) -then it increases the amount of trade-able services your dollar bill can buy when presented over the counter.

That explains W's statement that bringing in more workers increases the std of living i.e. the dollar bills you hold now can buy a lot more trade-able services and-or goods manufactured by employing cheaper-to-hire-retain slaves.

The fact that the US mint can print as much money as it likes only increases the amount of bills available for the transfer of wealth. It does NOT increase the amount of wealth available. So when the US govt increased money supply -inflation kicked in, because everyone was flish with money not wealth and all of them wanted the same amt of tradeable goods-services -which did not increase in proporiton to money supply. So, supply remained constant -but demand increased causing higher pricing for tradeable goods-services aka inflation.

If this is harder for you to understamd, consider money to be the equivalent of a company stock. The board of directors can decide to float as many shares as it likes, as and when it likes. The office space owned by the company, the trade-able goods-services produced by the company is constant -regardless of how many shares the company floats. The residual value of the shares aka the book value is the amt of wealth of the company divided by no of shares outstanding. The share certificate has zero residual value and printing more shares does not make a company wealthy -unless they are honoured by the world outside. When the world outside buys shares, it buys ownership into the company in return for allowing the company to raise capital. Likewise, the dollar bills owned by creditors indicate how much of your country is owned by foreigners. If you default as you think is the easy way out, nobody will be willing to lend you any wealth in return for US trebuttury bills. --------------------------------------------------------------------------

Pl go into the nearest supermarket and tell me how many made in USA goods you can find. The USA is an economy that owes its prosperity not to resources per capita -but to free trade and to the efficient deployment of capital. Deployment of capital to yield optimal results is a service which Warren Buffet performs. Oil is something you buy for your comfort -like many other goods. Even offshoring jobs is a case of importing cheaper services.

whether one buys services or goods, it amounts to the same thing. It looks different you have got a brown-skinend guy instead of s-w written by him in office, but economically it boils down to the same thing. Labour is a commodity. Another thing, Indian labour is prohibitively expensive compared to that in E Europe and Africa -both of which have v low population density compared to India.

what??

Where did you get enbreastled morally to a stupendous salary? One is enbreastled to a wage that is determined by demand and supply. My contention on this and some other threads is that citizenship or skin colour does not enbreastle one to a job. You need to compete for jobs by pricing your services compebreastively and that determines what wage you are really enbreastled to. It doesn't matter whether you elect republicans or democeats. This applies no matter who you elect and what your nationality might be.

Hope you can get a clearer picture as to where wealth comes from not the US mint, and that will convince you that nobody will invest wealth if it does not lead to an increase in wealth. If the US govt demands that companies pay more of their profit than the demand-supply curve indicates -companies are within their rights to close down shop. If you insist they offer every american a dreram salary and go into loss, they will pull the plug sooner than you realize. They don't obtain their capital from the govt or any other fountain of wealth located inside the country that one can call himself enbreastled to high paying jobs based on citizenship. If they shift their companies to other countries, that will create another set of workers with their own purchasing power -to buy companies products in return for the services they render. Nobody is indispensable.

regads -kamal