[Info-vax] HP Cuts Salaries

[johnwallace4 at yahoo.co.uk]

On Mar 1, 7:47 pm, JF Mezei <jfmezei.spam... at vaxination.ca> wrote:
> AEF wrote:
> > Well, that's pretty damn good in today's economy! The only others I
> > know that are making a profit are McDonald's, Walmart Mart, and some
> > of the oil companies (I think at least one of oil companies recently
> > posted a quarterly loss).
>
> Wall Mart is actually the poster child of the massive problems caused to
> the USA economy.
>
> 1- It offer lower prices by importing cheap knock offs from china,
> thereby killing USA manufacturing jobs.
>
> 2- redued economic activity in the USA (due to imports) results is
> lesser tax revenus which means USA govt has to borrow more.
>
> 3- By importing so much stuff from China, the USA has effectively
> transfered all its wealth to china.

Transferred its wealth, and also the pollution associated with low-
cost manufacturing. Folk shouldn't moan about Chinese pollution when
it's caused by making stuff on the cheap for the very people who are
moaning.

>
> 4- With china having all the money, China is now in a position where it
> can buy USA bonds to save the USA govwernment, invest in USA banks to
> help bail them out etc etc etc.

Ain't that the truth. The reds under the beds are still around, and
they're winning :) Even in the UK, we have to buy our North Sea Gas
from the Russkies (or the Libyans). Maybe Doctor Strangelove was
right, they've done something to the water.

>
> In essence, Wall Mart has caused the USA to lose its sovereignty and
> wealth, just so people could save a buck when buying a shirt.
>
> I use Wall Mart because it is the poster boy for this problem. But
> any/all companies that have outsourced to india (and yes, HP that goes
> for you too), they have cut wealth production in the USA and then
> transfered wealth over to south east asia.
>
> Don't be surprised if India's TATA motors ends up buying one of the USA
> car firms, and a chinese car maker buying the other.
>

Britain has already seen both, and it's not a happy picture. It also
sounds a lot like GM are about to disengage from Europe (Opel and
Vauxhall in particuar, although Saab were already in the "for sale
dirt cheap" section if I remember rightly). Still, it's no loss to the
US, they've got plenty US-designed+built cars they can profitably
export, right? Whaddya mean, they don't? How did that happen?

> Same thing with oil. The refusal of the precious administration to raise
> car standards and implement energy saving measures has resulted in
> cosumption to continue to rise, sending oil prices to $140/bbl and as a
> result, sending huge wads of USA cash to foreign countries, moving USA
> wealth offshore, and it is now that offshore which can come in and
> impose their conditions to help bail out the USA govt debts or save USA
> corporations from collapse.