Nice hit piece on yourself, Pete.
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{ 18 comments… read them below or add one }
Degree’s are worthless if we had 999 plan there would be no need for Acountants. Allows the job for higher pay but they do not know anything. Even uneducated realize education does not mean chit. Think we are told that education makes you smarter in Middle School or a social thinking. CON
@heckler73 Yes, that’s the argument of the world free tradists are circulating now in the Anglosphere to counter the alarm that’s spreading at the sight of places like Detroit, I don’t buy it. There are multiple millions of Chow peasants still out in the fields living a medieval way of life who will provide new huge sources of dirt cheap labour to replace the small proportion of the 1′s who r now in the cities protesting about their sweat shop pay, there is no equilibrium therefore
@whoo689
You have to also realise that those “billions in profit” are devied up for wages, salaries, dividends, taxes,regulations…then what’s left (even if there are billions left after all payments to workers/taxes/pensions) is & should be used for R&D/marketing
Hiring is not required, its just a byproduct of a need…nobody OWES us a job…I can start a business tomorrow & quickly make let’s say 10 million a year, unless I believe I NEED to, I wont hire.
Start your own company
@ProfMike789
“Petey boy” makes millions of dollars….a YEAR using said intellect…..how much do you make every year “Professor”?
You’re -probably- another keynesian with a strong emotional attachment to the current government interventionist model that’s given us the mess we’re currently in
@FilipKunc But… but… but… gold is REEEEEEEEEEAAAAAALY SHINY!!!!!!
@kcirdrab Oh okay, I think I understand your concern now… Yet, real wages (on average) have been stagnant for the last couple decades in the states, right? Meanwhile, China is dealing with inflation (plus some serious political problems, if the “news” coming out of there is correct). This will lead to some manner of equilibration between production costs for the two countries. Ergo, it becomes more logical for some manufacturing to return. But maybe I’m too optimistic?
@ProfMike789 Can you imagine Pete at the Drive-thru window? He’d cut you off before you could place your order…
Although, all the bugs could trade their shiny rocks for Chicken Nuggets… But I wonder what the premium would be?
Gold isn’t looking as strong as it used to, the US economy is doing better than Europe, even though Europe tried austerity, while the US tried fiscal stimulus using deficit spending; and now the Fed announced that they see the interest rates around 4.5-5% a few years from now. Seems like Pete’s credibility’s days are numbered.
Petey boy needs to get a job that he’s better suited to, given his intellect, where he’ll learn something about the real world. I hear McDonald’s is hiring.
@heckler73 These 2 are giving a macro-economic analysis about the USA’s industrial manufacturing future that defies all the evidence of the last 50 years of its attrition thru its industrialisation of the Orient, & are espousing the idea that the 2 can co-exist.
These are arguments that were 1st put about in the 1950′s & they’ve been totally discredited by what’s now going on, both in the USA’s de-industrialisation & the New Depression we’ve now entered.
@kcirdrab What are the FT guys wrong about? (I’m not presuming you’re wrong, I’m just not clear about what you’re referring to.)
“Too expensive” to train workers? BULLSHIT
A specialized company that makes BILLIONS in profit can’t afford to train some new hires? Please… How much WOULD they need in profit in order to “afford” it? $1 Trillion? It’s just an excuse. They have the money but don’t WANT to spend it on shit like training.
These FT guys r wrong
This idiot is nothing but a big fat blowhard, He trades with idealogy & this is why he’s losing so much money. All his stock picks were dog shit worthless & the dumbass still doing the same things like picking up mining stocks, what a fuckwit
For someone who speaks about ‘freemarkets’ so much, he sure is confined with his Austrian dogma. If you want to be successful in the stockmarket,everyone knows you dont bring your dogmas in to your trades, screw that
The market is always right
@TheOkham
Russia wants US to kill itself with Austerity, thus securing Russia’s Peace an Prosperity.
“matchstick man” LOL
I found Marsh’s “wage charts” to be interesting. For one, you see the Productivity/Wages gap quite clearly (like Richard Wolff’s work). But those national comparisons were a surprise.
Thanx for the great vid…
It was a good dessert to follow the SoTU (which also slams Pete!! LOL)
china has slaves that si why
RT is like a shelter for kooks and loons, Schiff should feel at home there.