I refer you back to my prescient and brilliant series of bolgs of some time back.
As you probably know, the US has been loosing competitive position vis a vis
the rest of the world, in particular, Japan and now ( alas ) China. American industries, one after another have fallen prey to the foreigners. Our industrial base has eroded
so badly that we now import all those items that we once produced. This process
has been going on now for perhaps fifty years.
What, you may ask, brought this on. Simple-Our minimum wage has once again gone up, making us even less competitive than before. Just as bad, business
profits will go down. More people will not get the jobs that might have been available.
Congressional madness continues unabated.
Update on rib situation- The rib seems to be healing on schedule. However, the painkillers have had terrible effects which I am taking care of one by one. Now I
am without energy or strength or appetite. The medical people have taken over my
life for the time being. I don't think I will share the details at this time.
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2 comments:
I tend to agree... somewhat... with the logic of minumum wages making our industry less competitive. Sadly, our wages and those of most of the rest of new industrial nations are way off kilter. To be competitive with their wages, we would need to reduce the minimum wage drastically (try $2-3 an hour). Sadly, the standard of living (costs) in this country prohibit that rate, as no family of 2, with both breadwinners working 2 jobs could afford anything but a shack by the train tracks.
This is really all about how quickly industries are able to be globalized. Remember the steel industry? Who stole it? Japan. They are now post industrial, and suffer a similar loss of industy as we do. One day China and India will be post industrial (25 years is my guess), and then they too will lose business to the next up and coming third world nation that can provide work more cheaply.
O' Granddad! I do hope you are feeling a little bit better, at least.
At least you are still providing us with some pithy critiques of the rotten state of almost everything America.
Keep 'em coming...
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