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World Finance Watch
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<blockquote data-quote="CaryP" data-source="post: 24552" data-attributes="member: 34"><p><strong>Re: World Finance Watch</strong></p><p></p><p><strong>Quoted posts are all by Sosuemetoo:</strong></p><p></p><p> </p><p></p><p>No, you're paying for current crude prices, not anticipated at $105. Yes, there was some $35 crude that got processed and sold at say $50 prices (high end guess), but that inventory is long gone. And actually, when crude dropped to $11/ bbl. gasoline prices dropped with it. I'm not saying that the big energy conglomerates aren't out to maximize profits, which some will call greed, but that's their job. Yes, capitalism is about maximizing profits.</p><p></p><p></p><p> </p><p></p><p>Yes, that sums it up. But don't blame China, India and other countries that have received jobs from the US and Europe. The global corps are just maximizing profits made available to them under the long term push of "globalization" from the last 5 presidents (Carter to Bush II). That's what globalization does, puts everything, including labor, on a more even playing field. Like an excerpt from the article I posted earlier said:</p><p></p><p>"<span style="font-size: 10px">Foreign industrial workers making $25 a week will hardly be expected to offer a lot of sympathy when \"honest, hardworking Americans\" can\'t find $800 a week jobs, or perhaps any jobs at all.\"</span></p><p></p><p>So if you want to "blame" someone. Blame all the politicians who've been pushing "globalization" for decades. They're on both sides of the aisle, and they tend to be "career" types. Ross Perot was right about that "loud sucking sound" of jobs being pulled out of our economy. And that just about NAFTA and jobs to Mexico. Under the WTO (World Trade Organization) even Mexico is bitching about jobs its losing to China.</p><p></p><p> </p><p></p><p>Careful what you wish for. The U.S. stopped being energy self sufficient a long time ago. Yes, there are some places we could start drilling (coast of California, ANWR, etc.), and we could drill much deeper than current technology allows. But you're talking years to decades of bringing all of that online for consumption AND at prices that are substantially higher than we have now. It's the old cut off your nose to spite your face dilema. Why aren't we using alternate sources of energy? Because they're more expensive (so far) that petroleum based energy is still cheapest. Your assumption about gas prices going down is based on the old paradigm that there's plenty of available oil at current recovery costs. That is over now. As for outsourcing jobs to China and other low cost providers. That will end when the cost of hiring Chinese employees is close to parody with hiring US employees. That means over time, Chinese wages will go up, and American wages will go down. So about the time the US is hitting third world status (my estimation is 2020) jobs won't be offshored anymore. Not a pleasant thought, but the forces at play are too big to stop or reverse now. Get used to a hardier lifestyle.</p><p></p><p></p><p>Cary</p></blockquote><p></p>
[QUOTE="CaryP, post: 24552, member: 34"] [b]Re: World Finance Watch[/b] [b]Quoted posts are all by Sosuemetoo:[/b] No, you're paying for current crude prices, not anticipated at $105. Yes, there was some $35 crude that got processed and sold at say $50 prices (high end guess), but that inventory is long gone. And actually, when crude dropped to $11/ bbl. gasoline prices dropped with it. I'm not saying that the big energy conglomerates aren't out to maximize profits, which some will call greed, but that's their job. Yes, capitalism is about maximizing profits. Yes, that sums it up. But don't blame China, India and other countries that have received jobs from the US and Europe. The global corps are just maximizing profits made available to them under the long term push of "globalization" from the last 5 presidents (Carter to Bush II). That's what globalization does, puts everything, including labor, on a more even playing field. Like an excerpt from the article I posted earlier said: "[SIZE=2]Foreign industrial workers making $25 a week will hardly be expected to offer a lot of sympathy when \"honest, hardworking Americans\" can\'t find $800 a week jobs, or perhaps any jobs at all.\"[/SIZE] So if you want to "blame" someone. Blame all the politicians who've been pushing "globalization" for decades. They're on both sides of the aisle, and they tend to be "career" types. Ross Perot was right about that "loud sucking sound" of jobs being pulled out of our economy. And that just about NAFTA and jobs to Mexico. Under the WTO (World Trade Organization) even Mexico is bitching about jobs its losing to China. Careful what you wish for. The U.S. stopped being energy self sufficient a long time ago. Yes, there are some places we could start drilling (coast of California, ANWR, etc.), and we could drill much deeper than current technology allows. But you're talking years to decades of bringing all of that online for consumption AND at prices that are substantially higher than we have now. It's the old cut off your nose to spite your face dilema. Why aren't we using alternate sources of energy? Because they're more expensive (so far) that petroleum based energy is still cheapest. Your assumption about gas prices going down is based on the old paradigm that there's plenty of available oil at current recovery costs. That is over now. As for outsourcing jobs to China and other low cost providers. That will end when the cost of hiring Chinese employees is close to parody with hiring US employees. That means over time, Chinese wages will go up, and American wages will go down. So about the time the US is hitting third world status (my estimation is 2020) jobs won't be offshored anymore. Not a pleasant thought, but the forces at play are too big to stop or reverse now. Get used to a hardier lifestyle. Cary [/QUOTE]
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