6502

GeorgeBMac said:

6502 said:

muthuk_vanalingam said:

6502 said:

Fatman said:

I thought the same ...  why not the US! ... then read that 6000 new jobs would be created. Average factory pay in India is about $2/hr - some say even robot cost average $4/hr! As long as slave labor wages are an option, factories that need this many humans will not open in the US.

Exactly right. Slavery is alive and well in this world. I thought Tim was better than this. Nope. All talk, no walk. When India gets too expensive, they'll build factories in Uganda.

I am from India and i agree with @JWSC and @Avs_Htx on this. You SHOULD NOT apply US living standards to India when you evaluate a job opportunity in India. By Indian standards, these are decent paying jobs for those who get it. This is NOT slavery. Slavery by Indian standards is about getting paid 20 cents per hour of work. $2 per hour gives a decent living for the people who are desperate to get a job.

Taking advantage of poor people's desperation, is not much different than slavery.

"Taking advantage of poor people's desperation"?

That's how the U.S. industrial might was built.   But, instead of using existing labor, they imported labor from whatever part of the world was doing poorly.   And, when they got uppity and did silly things like trying to create a union, they fired them and imported more.   It was slave wages, 12 hour days, 6-7 days a week of hard, dangerous work.  That method worked until Franklin Roosevelt came along -- then WW-II carried it out another decade and from there we just coasted, riding on the back of those who came before until Japan stepped in and put an end to it in the 80's.

The U.S. has yet to come to grips with any of that.   Too much pride.

muthuk_vanalingam said:

6502 said:

Fatman said:

I thought the same ...  why not the US! ... then read that 6000 new jobs would be created. Average factory pay in India is about $2/hr - some say even robot cost average $4/hr! As long as slave labor wages are an option, factories that need this many humans will not open in the US.

Exactly right. Slavery is alive and well in this world. I thought Tim was better than this. Nope. All talk, no walk. When India gets too expensive, they'll build factories in Uganda.

I am from India and i agree with @JWSC and @Avs_Htx on this. You SHOULD NOT apply US living standards to India when you evaluate a job opportunity in India. By Indian standards, these are decent paying jobs for those who get it. This is NOT slavery. Slavery by Indian standards is about getting paid 20 cents per hour of work. $2 per hour gives a decent living for the people who are desperate to get a job.

lkrupp said:

We (Americans) sold our souls to China decades ago. China now has the technology edge. They can manufacture electronic gadgets by the billions. They have the technology and they have the workforce and they have the experience. It took a pandemic for some of us to realize ALL of our drugs, ALL our PPE, most healthcare hardware, comes from China because they can build it faster and cheaper. Search Amazon for  non-essential surgical masks, hand sanitizer, etc. It’s ALL from China, not a single U.S. manufacturer to be found. Wow, Apple, GM, started making  PPE shit. What happens when the crisis is abated? What happens to all those ventilators being cobbled together? Will they be stored in a gigantic Raiders of the Lost Ark warehouse somewhere in New Mexico?

The U.S. Treasury is borrowing $3 Trillion to cover the various stimulus legislation. How does the Treasury borrow money? They sell U.S. Treasury notes, that’s how. Any guesses as to who has been buying most of those treasury notes the past few decades? Come on now, you should know this. It’s CHINA of course. China owns big chunk of our debt these days, second only to Japan as of 2019.  The U.K. owns a lot of it too. And a lot of Arab sheiks own a bunch. When will we be labeled as a credit risk?