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[Novus]

They should have read up on Henry Ford and on how he turned poor people in to middle class consumers. Henry Ford had a really radical idea to sell cars to the masses. He created his own demand by paying 5 times the average wage. This is the 100% complete and total opposite of the American Business model of cutting costs and undercutting markets. Every other car maker was focusing on building cars for the rich. But he understood that his workers would be buying the very cars he was selling so he paid them a wage that allowed them to buy the cars they were building. This was genius and is still genius 100 years later. Ford was no socialist but a capitalist through and through through demand creation and he made millions. The people running things today are mental midgets and idiots.

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They should have read up on Henry Ford and on how he turned poor people in to middle class consumers. Henry Ford had a really radical idea to sell cars to the masses. He created his own demand by paying 5 times the average wage. This is the 100% complete and total opposite of the American Business model of cutting costs and undercutting markets. Every other car maker was focusing on building cars for the rich. But he understood that his workers would be buying the very cars he was selling so he paid them a wage that allowed them to buy the cars they were building. This was genius and is still genius 100 years later. Ford was no socialist but a capitalist through and through through demand creation and he made millions. The people running things today are mental midgets and idiots.

thanks Novus well said

[galacticsurfer]

This is classic demand side economics as opposed to supply side, or trickle down economics. The whole populaiton in industrial countries has been on a downward slide for a long time now due to capital flight to poor countries and tax evasion or threat of capital andindustrail flight abroad to cheaper production areas Problem is unions have been killed mostly and if they demand higher wages at this point it would really kill the economy. People can only spend earned money was old idea but they learned to let them get poor then hook them on debt. Now such ideas as total debt forgiveness like a Jubilee year are going round.

[americandream]

They should have read up on Henry Ford and on how he turned poor people in to middle class consumers. Henry Ford had a really radical idea to sell cars to the masses. He created his own demand by paying 5 times the average wage. This is the 100% complete and total opposite of the American Business model of cutting costs and undercutting markets. Every other car maker was focusing on building cars for the rich. But he understood that his workers would be buying the very cars he was selling so he paid them a wage that allowed them to buy the cars they were building. This was genius and is still genius 100 years later. Ford was no socialist but a capitalist through and through through demand creation and he made millions. The people running things today are mental midgets and idiots.

I would not underestimate the ancien regime. We in the West/Japan are the model worker/consumer/voter/investor. Exquisitely tuned to ensure that we not only work at maximum possible gain but also, that we consume, vote and invest accordingly. The bailout is the most brilliant transferance of wealth from lower and middle wealth to higher wealth ever devised.

China is equally in the grip of this regime. You would do well to understand this regime rather than underestimate them.

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[cube]

those poor people working in china for so little money, the people don't have the need to buy products, a shack is house,the people perceive they are doing well.
Corporate world leaders thought build cheap and reap the profits,but left out the people who created and built the need, U.S. workers ,Canadian workers,British workers..

But isn't that better then what they had before?

If they weren't working in a sweat shop they'd be making 20% as much working on the farm using their feces to fertilize their crops.

China has benefited tremendously from globalization. They got to elevate themselves from dark age existence to a Charles Dickens Victorian England with plenty of smoke stacks. Not a pretty sight but still definitely a step up. agreed?

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I was a child in China back in the 80s. That country has gone from basically an 18th century pre-industrial backwater to being the second largest economic/military power on Earth.

The material lives of the average people there are definitely much better. Now of course that has come at a cost to U.S workers, but quite frankly life is not fair. Not for the Chinese of the 80s, certainly not for the ordinary Americans of today. One should learn to deal with it.

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First of all, I'm probably more "Americanized" due to living most of my life in the states. But I don't quite understand why you think the Chinese would want to save us?

After all, the U.S has rarely shown a broken nation anything resembling respect, certainly not within the last 40 years. When the USSR collapsed, we promised the Russians food and medicine for their civilian populations. And during the winter of 1991, the worst in a generation, we demanded that they sign SALT II and give up their strategic weapons or we'll starve their entire population. That is a hard peace for any nation to swallow. You had old WWII veterans sleeping under bridges and millions of Russian women selling themselves as prostitutes to the U.S and Western Europe to send money back to their country so that their families can buy food. Truly, the U.S tried to save the poor Russians...

Now with China, we basically canceled EVERY single infrastructure construction project in that country immediately after the Soviet Union collapsed. China was a very poor country at the time, and had paid billions to the U.S for those projects, and we simply took that money and never paid them back. How did we get away with that? Well back then, we owned the IMF and was 100 years ahead of them technologically. We pulled off these disgraceful actions because we were strong and no one else could prevent us from doing so.

So as you can see, the Russians and the Chinese would love to see us rot. And reading about the recent meeting of world finance ministers in Beijing (U.S excluded), I would reckon that the economic powers of the world are lining up to give us a more or less justified shaft.