Recent comments by William Hampton

• Monetary Mystification

  It seems to me that if a country sends its manufacturing jobs to where there is cheap labor, it will experience a loss of tax revenue. To make up for this loss of tax revenue, you will either need to cut spending, risking a revolt from your people, or get the money from the ones making the extra money from the cheap labor, risking manufacturing moving out completely because they owe no allegiance to a country. I know, that is too simple for an economist to understand.

• The Great American Mirage

  I agree. You hit the nail on the head. I would hope that it back fires and these cheap labor sources start becoming serious competitors to our corporations. At least maybe this could cause the reduction of soaring prices. I that unlike labor, big money seems to be unionized, I doubt this will happen.

• The Perils of Prophecy

  You did not mention the prophecy of Ross Perot. In that what he predicted has come true and is probably the reason for the worlds economic problems, you would think that some one besides me noticed. I am starting to think that it is a secret that no one wants revealed. Ross Perot predicted that the free trade agreement would suck so many job of America that it would cause big economic problems. Is that not exactly what has happen? It not only happened here, it has happened every where. All of the problems that this has caused are being talked about, with out a mention of this being the cause. In that economists can not seem to agree on anything, I do not give much credence to most of what they say.

• The Great American Mirage

  I have a question. If an American company manufacturing from China sells their products to Germany are those products considered exports of American products or Chinese products? How do these products made in China by American companies help the American economy as much as products made in the USA? Where are the materials from and produced that are used to make products made in China by American companies? etc, etc, etc. I do not see any economists talking about this, and how it is affecting this country. It seems to me there should be a distinction between those products made in China and ones actual made in America. Maybe it is not important or I am not reading enough.

• Why Do Economies Stop Growing?

  It seem to me that human nature is the root as to why economies stop growing. At the on set of any system, economic or other wise, the first thing that humans will do is to try to beat the system. This results in graft and corruption that eventually brings the system down. Things like promoting equality might help a little, but short of a multiple check and balance system that enforces the rule of law, I see no way to stop this from happening. Our forefather­s seen the need for a check and balance system, but did not go near far enough and I have my doubts that it could even be accomplished to the point of eliminating graft and corruption. As an individual, what can one do? Recognized it an do your best to use it to survive. Make sure that all of your involvement in the graft and corruption is legal, or safe. I would like to think other wise, but see little evidence to make me think other wise. I was taught other wise and can not over come my basic honesty, so will never reach my full abilities to make money. To date I have been smart and lucky enough to survive. Most seem to not realize just how much luck comes into play in our survival. Not so sure that if I was born today in this country that I would be capable of survival. It looks to me like this system is on the verge of being beat to death.