Europe on the brink of collapse

Scotsman.com ^ | Sun 27 Oct 2002 | N/A

[Cheesehead in Texas]

One reason the European economy is tanking is that Russia enacted a flat tax income rate of 13%. Combine that with vast natural resources and a large, motivated and educated labor pool. Compare that to Germany's sliding scale (soak the rich) income tax rate of 19.9 - 48.5% income tax rates. Capital is fleeing the stagnant economies of Europe for more tax friendly and labor friendly markets.

[FITZ]

shifting lower paying manufacturing jobs to Mexico while shifting our economy to a service economy allows for much higher wages while prices drop

What is interesting is now they're shifting those lower paying manufacturing jobs to China and you don't see the Mexicans celebrating that this somehow is good for their country because now they expect to get higher wages. Manufacturing jobs used to pay quite well, the middle class of this country depended on them. Service industry jobs like waiting tables and being a Walmart clerk don't pay as well as those old factory jobs did. Back in the 50s and 60s a man working one of those jobs could support his family --5 to 6 kids or more -- on his one income, buy a house which he could pay for within 15 years, take family vacations and be fully middle class.

[FITZ]

The goal of globalism is not to pay less to your workers, the goal of globalism is to allow people in different markets easier access to one another for trade purposes.

Cheaper labor costs is the goal of globalism, that's why they move manufacturing plants over to China, if it was to provide them access to different markets, we'd still have jobs and they'd could open Walmarts all over China.

[TigerLikesRooster]

RE #60

America is behind the European curve. :)

[The Westerner]

Sounds like you got a good American university education. Needless to say, we'll have to agree to disagree.

[TigerLikesRooster]

Re #67

There are not many Jews in Europe these days. So they would need more people to vent their anger against. Arabs will be taking the brunt of angry Europeans this time around. As people many of whom try to impose Shar'ia on Europe, they won't not entirely innocent victims, I think.

[justshutupandtakeit]

Sounds like you are retiring from the discussion without making any argument for your position. That is generally the case when there is no good argument to be made.

I never agree to disagree particularly when no argument has been made contrary to my contentions.

It is easy (American university education or no) to examine the historical record of the gold standard. If done my points are totally substantiated gold bugger mythology aside.