Posted on 09/01/2010 9:24:59 PM PDT by ThinkingBuddha
Intel's Paul Otellini predicts that the "next big thing" won't happen in the States unless government policies change.
ZoomMonday night Intel CEO Paul Otellini warned government officials that the U.S. will face a huge tech decline if government policies are not altered. In fact, the "next big thing" won't be invented here in the States, and jobs will be created outside our borders.
The warning was part of his observations about the Obama administration and the nation's economy during dinner at the Technology Policy Institute's Aspen Forum. He took aim at the U.S. legal environment, claiming that its become so hostile to business that there could be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe--this is the bitter truth."
He went on to criticize the administration's Keynesian policy of economic stimulus and its inability to understand the concept of creating new jobs. "They're in a 'Do' loop right now trying to figure out what the answer is," Otellini told the audience........
Or, in plain English, with Comrade Lenin in the White House, the United States is in the sh*tter and headed much, much farther downward.
“We need to jettison a LOT of government-imposed distortions of the economy — unions, minimum wages, liberty-sapping “health and safety” regulations, unemployment insurance (you pay people to be unemployed and guess what? More of them become unemployed!), and 100% of “entitlements” like Social Security and Medicare. Welfare, of course, has to go too, especially Medicaid.
Places like Hong Kong are unburdened by stuff like that. And they will eat our lunch if we maintain those kinds of burdens.”
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Nailed.
Although, in the last sentence I would replace “will” with “have been”.
Our lunch, breakfast, dinner and midnight snacks.....
Not to worry, I am assured by the resident Free Republic Protectionists that all we need is some tariffs and a new Government agency to protect American Jobs and everything will be "hunky dory"
There will be start ups that cannot go outside this country..there are young companies with new ideas to compete against Intel, Google, Apple; perhaps only fledglings now and may be picked off and bought up..but the small business start-ups are the ones that will suffer the most trying to raise the capital they need to grow (no IPO hopes) their ideas in an uncertain economy, where money is kept close, where government punishes wealth creation which in turn creates jobs..and business to business shared opportunities
Intel CEO Blasts Obama Administration, Says Anti-Business Policies Are Killing The Country
He’s right!
“Not long ago...’our research centers were without peer. No country was more attractive for start-up capital... We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case.’”
“Otellini singled out the political state of affairs in Democrat-dominated Washington, saying: ‘I think this group does not understand what it takes to create jobs. And I think they’re flummoxed by their experiment in Keynesian economics not working.’ “
“If our tax rate approached that of the rest of the world, corporations would have an incentive to invest here,” Otellini said. But instead, it’s the second highest in the industrialized world, making the United States a less attractive place to invest—and create jobs—than places in Europe and Asia that are “clamoring” for Intel’s business.”
yes, Intell is firing a warning shot over the bow!
Listening Obama?
“Where were all you geniuses when it mattered back in 2008?”
Drooling at the prospect of computer and data base software sales to an exponentially expanding Nanny Ntate bureaucracy.
Or decide altogether NOT to carry a product their customer base wants and uses only because they do NOT want a bullseye painted on their backs by the alphabet soup of agencies that will and can descend on them at a moments notice. I know of where I speak...Loss of income and business but peace of mind
Now that's change we can believe in!
rest = wrest
"Places like Hong Kong"? What other places? Singapore maybe? Do you really think these two tiny footprints are going to eat our lunch? Unfortunately, the rest of the world is even worse. Corporate taxes seem to be one area where we clearly are more hostile to business, but I don't really see any other country where liberty is championed and secure. And it's not Hong Kong -- they exist only at the mercy of China, do they not?
"Places like Hong Kong"? What other places? Singapore maybe? Do you really think these two tiny footprints are going to eat our lunch? Unfortunately, the rest of the world is even worse. Corporate taxes seem to be one area where we clearly are more hostile to business, but I don't really see any other country where liberty is championed and secure. And it's not Hong Kong -- they exist only at the mercy of China, do they not?
"Places like Hong Kong"? What other places? Singapore maybe? Do you really think these two tiny footprints are going to eat our lunch? Unfortunately, the rest of the world is even worse. Corporate taxes seem to be one area where we clearly are more hostile to business, but I don't really see any other country where liberty is championed and secure. And it's not Hong Kong -- they exist only at the mercy of China, do they not?
Another big problem we have to address: The 40-hour work week. That was an idiotic idea from the start. America will not be great again so long as worker feel entitled to “weekends,” overtime pay, paid vacations, etc.
Pay for most workers should be by the DAY, not the hour. That day should last as long as it needs to last in order to get a decent, world-competitive amount of work done — usually 10-12 hours, not 8. And a work week should lat 6 days, not 5.
Paid vacations and other “benefits” should be negotiated — something better, more in-demand workers and managers get, but not everyone. The average worker in the USA is, in my opinion, FAR too spoiled. We could learn a LOT from Hong Kong.
SS AND MEDICARE ARE NOT ENTILEMENTS I HAVE PAID IN FOR OVER 40 YEARS INTO THOSES ALONG WITH MY EMPLORYERS.
Yeah, me too. And I agree with you.
Perhaps you were responding to a quote I included in my response.
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