Hi Bob,

On Thu 2037-Jul-16 21:30, Bob Klahn (1:124/311) wrote to Richard Webb:



 RW>> that's what we're supposed to be.  INstead of quality
 RW>> manufacturing we have folks working in cube farms in
 RW>> "financial services" etc.

BK>>  Which will go the way of the manufacturing. Modern computer tech
BK>> will continue to expand so they can outsource even those things  to
BK>> offshore companies.

 RW> No need if they drive down wages enough, but they will
 RW> outsource until that happens.

BK>  Do you remember how much the Fed and Greenspan and other
BK>  economists were worried about deflation not so long ago? Well, 
BK> that will bring on the very deflation they were worried about. 
BK> Along with that the return of the great depression. Whether we  come
BK> back from this one or not is another matter.

Be much harder to come back from this one.  Roosevelt's
programs were a good start, and a major war really helped,
but then we had the homegrown manufacturing and technology.
These days all that is done somewhere else.  Harder to come
back.

Our only salvation to come back from this next one might be
investing very heavily in repairing faltering
infrastructure.  PUtting all those bridges and other systems we depend on
so much might put people back to work enough to do some good.  But without
a major commitment by our
government it ain't gonna happen.

 RW>> YOu and me both, but again this takes longterm thinking,
 RW>> not next quarter's profit and loss statement.  We have no

BK>>  Robert Townsend said that over 30 years ago.

 RW> OF course he did, and the folks in power weren't listening
 RW> then, and they aren't listening now.

BK>  Yeah, they were, they realized it's not to their advantage to 
BK> think one quarter ahead. Now they think a week ahead.

OF course, but not quite what MR. Townsend had in mind .


Regards,
           Richard
--- timEd 1.10.y2k+