Like A Thief In The Night
Posted: Tue Sep 28, 2010 8:25 pmSo when the US dollar goes to the toilet... say $1 2010 frn = $100.....I should convert some of my PM holdings into FRNs and pay down debt.
No more student loans or house payment!!
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Posted: Tue Sep 28, 2010 8:25 pmRe: Like A Thief In The Night
Posted: Thu Sep 30, 2010 7:06 pmRe: Like A Thief In The Night
Posted: Fri Oct 01, 2010 9:48 amIt should. Globalization off-shored the bulk of our industrial base. In 1959, manufacturing accounted for 30%+/- of U.S. economic output. In 2008, it was 11%+/-. The United States lost 32% of its manufacturing jobs since 2000. Manufacturing employment in the U.S. computer industry is now lower today than it was in 1975. Asia produces 84% of all printed circuit boards. The United States has lost 42,000+/- factories since 2001. In 2008, 1.2 billion cellphones were sold, none were made here.
I see Caterpillar is expanding their manufacturing in China from 11 plants to 12 in order to build mini hydraulic excavators. More jobs, more output lost for the U.S. When I saw the first assembly lines leave General Electric and go offshore in the early '70's, I never dreamed that the day would come that the U.S. definition of manufacturing would be the building of a sandwich.
