China ?

[broox419]

I guess that would hold true for JP Morgan and any other Bank. Pursue profits by all means possible.

Maybe if you lived in North Carolina and had 30 years experience building furniture and had your job shipped to China, you might have a different opinion of Free Trade.

Maybe someday soon your job will be outsourced to Asia and you'll find out first hand. I'm sure you'll be saying to your boss when he hands you a pink slip, thanks for the down sizing, I really hope the corporation does better next year.

Vale, we are seeing plenty of distribution jobs in Cali being sent elsewhere within the US. Assa Abloy after downsizing their operations are moving from southern California to Arizona for a better tax rate and less environmental restrictions. I can't believe this state will come through on it's financial obligations for much longer with all the tax revenue.

I myself am starting to wonder how much longer the small business I work for can survive. Our numbers have been good leaving me to be optimistic for the near-term.

[skijake]

That's just BS from the corporations as an excuse to have their taxes lowered. The only reason the manufacturing jobs left the US was for profit, plain and simple. The Corporations are still here and many keep reporting record profits in spite of the down turn in the US. Why, because they are producing the same products in the far east for a fraction of the cost back here in the states and still selling those products at prices as if there were still being produced here in the states.

Free trade was suppose to remove trade barriers, not allow corporations to move their operations to foreign countries for cheap labor and eliminate all of the the tax burdens, like Social Security taxes and employee retirement funds, heath care. Our politicians sold us all down the drain and now they are campaigning to have their corporate taxes reduced so they can be more competitive. How can they be more competitive when they are already using the cheapest labor in the world and paying no taxes in this country, other than on their profits? But why not, the American people were dumb enough to let them get away with Free Trade, why not let them get away with another tax break to add to their record profits!

Just remember that Ross Perot said we would hear a giant sucking sound if we passed Free Trade and it would be the sound of millions of jobs being sent overseas for cheap labor. I wonder if anyone actually has an estimate of how many millions of jobs that totals up to so far? Entire industries have been wiped out here in the US. No they are still in business, just their employees are on the streets and the products are made in China. Place a call for technical service, credit card help, to place a phone order and you'll in all likelihood be trying to talk with someone in India. All those jobs were held by Americans in the past. We went from a manufacturing base economy to a service sector economy, which is itself ridiculous. However that hasn't stopped them from shipping those service sector jobs by the carload overseas as wells. When they can't ship the jobs overseas for cheap labor, they pass special laws to allow specific professional skills into the US that will work for less. That's why we can't pronounce the names of most of our Doctors for one thing. Just ask a few hundred thousand former computer programmers why they can't find jobs and why they are not still working, cheap foreign computer programmers. I believe it was Microsoft that started that trend.

Hat Tip to you for that! Fool me once,,,,,,,,,,,,
At least we have the strongest military in the world and a great government in place {both bankcrupting us}and the financial wizards of Wall St. to insure that we continue down the very path we've been on for the last many decades.
Let's keep this party going!

[Silver Viking]

Well put Val, I agree with your comments 100%.

[valerb]

Vale, we are seeing plenty of distribution jobs in Cali being sent elsewhere within the US. Assa Abloy after downsizing their operations are moving from southern California to Arizona for a better tax rate and less environmental restrictions. I can't believe this state will come through on it's financial obligations for much longer with all the tax revenue.

I myself am starting to wonder how much longer the small business I work for can survive. Our numbers have been good leaving me to be optimistic for the near-term.

It's one thing when a corporation moves their operation from one state to another for lower state taxes and less regulations, but to move it out of the country is something different all together.

That's why so many automotive plants are now located in Southern states.

In many cases the employees have the option to move with them, but even if they don't, some other Americans are picking up the new jobs.

[Edmund Law]

We all know that China has been buying and swapping for gold for some time now. The Chinese are likely sitting on top of most of the world's gold. But I wonder if anyone knows what the Chinese have been doing with regard to SILVER? Are they acquiring vast piles of silver as well?

Yes. See my previous comments on the need to monetize silver on a global basis as the antidote to the inevitable global collapse of the current monetary system. A process which will be led by China. Also see these posts as to why this will involve silver not gold.

[Xizang]

You're right, Edmund. I'm much more aligned with Ron Paul and his beliefs, than I am with the current administration that's nearly doubled the regulations piled on American small businesses. It's as if our governmental leaders - state and federal - are trying to collapse the American system. Gold and silver will prove to be our safety nets, but imagine the chaos that will be happening with our society.

Meanwhile, China has been REDUCING and ELIMINATING taxes on their citizens and business people. There are lots of American businesses opening up shop over there, not just GE. Here's something in today's news:

JPMorgan Injects $394 Million In China Unit On Faster Growth
By Bloomberg News - May 27, 2012 11:04 PM CT

JPMorgan Chase & Co. (JPM), the biggest U.S. bank, increased the capital of its China unit by 2.5 billion yuan ($394 million) to meet rising demand for financial services in the world’s fastest-growing major economy.

The second infusion since the local subsidiary was incorporated in 2007 will bring its capital to 6.5 billion yuan, the New York-based lender said in an e-mailed statement today. The U.S. bank also received approval from the China Banking Regulatory Commission to open a branch in Suzhou.

http://www.bloomberg.com/news/2012-0...growth-2-.html

[skijake]

GM becoming China Motors?
http://www.youtube.com/watch_popup?v=Lvl5Gan69Wo

[broox419]

It's one thing when a corporation moves their operation from one state to another for lower state taxes and less regulations, but to move it out of the country is something different all together.

That's why so many automotive plants are now located in Southern states.

In many cases the employees have the option to move with them, but even if they don't, some other Americans are picking up the new jobs.

Agreed, but I still feel bad for them as they will be leaving an area with mountains, beaches, forests, and desert all a couple hours away to live in a arid and dry triple digit area for life. Granted the employees that move get quite a bit of incentives to help with the move it just goes to show that if corporation is willing to provide all of that just to move from on state to another they must really be getting screwed in our state. I can only wonder how much worse it can be to leave the country entirely, but they aren't taking the workforce along with them leaving our country completely empty handed. If you ask me, our gov't oughta tariff the hell out of the products they then try to sell in the US after bolting

[valerb]

Agreed, but I still feel bad for them as they will be leaving an area with mountains, beaches, forests, and desert all a couple hours away to live in a arid and dry triple digit area for life. Granted the employees that move get quite a bit of incentives to help with the move it just goes to show that if corporation is willing to provide all of that just to move from on state to another they must really be getting screwed in our state. I can only wonder how much worse it can be to leave the country entirely, but they aren't taking the workforce along with them leaving our country completely empty handed. If you ask me, our gov't oughta tariff the hell out of the products they then try to sell in the US after bolting

That's one way to bring those jobs back home.

[Matthew Shelley]

Yes. See my previous comments on the need to monetize silver on a global basis as the antidote to the inevitable global collapse of the current monetary system. A process which will be led by China. Also see these posts as to why this will involve silver not gold.

Is it your intent to collapse the US economic system? (As an importing nation.) Are you trying to destroy Europe? And to bring Peru and Mexico to the forefront as the two top world powers?

Damn that economic logic!!