We're just the victim of a capitalist system and globalization and to be honest, I don't think it will change anytime soon because it's all so ingrained in the world.
Certainly, we will see some industries going back to producing locally to be less dependant but that will remain a minority and it won't make much difference.
It's at the level of mentalities that we have to change and our perception of money. Capitalism was good for a growth economy but seeing how they turned it...
Topic: What N America and Europe need to start on now! - page 4. (Read 912 times)
I think there will be many calls for this. They will eventually fade away. What will happen is some concerted stockpiling. And then that'll get sold off or forgotten about. That's how humans roll. We carry on improvising until it's too late. I can't see that changing.
I guess the real test is dealing with the economic wreckage. No one knows how bad that will be or what the effects will be. Perhaps it will inspire some sort of sea change. I ain't holding my breath.
I guess the real test is dealing with the economic wreckage. No one knows how bad that will be or what the effects will be. Perhaps it will inspire some sort of sea change. I ain't holding my breath.
Too late. The world is addicted to cheap man-power and low interest rates.
It will be very hard to reverse the momentum. It could be done but it will be painful too. By painful, I don't mean what we saw last month. That was nothing.
It will be very hard to reverse the momentum. It could be done but it will be painful too. By painful, I don't mean what we saw last month. That was nothing.
Alas, I agree. It would be extremely expensive to undertake all of what I sketch out above. But, probably more expensive to NOT undertake them in the long-run.
But, upon considering the last month or two, it is clear that we are in a new era that is NOT compatible with extreme Globalism (which cheap manpower is a major component of) if we value stability and security. And stability and security, IMO, are more important than the additional costs that will arrive...
Energy is a huge problem. Low pharma manufacturing capacity is a huge problem. Dependence on China for rare earth metals is a huge problem. Many, many problems, that WILL cost huge amounts of money to resolve them.
EDIT: You raise the topic of low interest rates. There is a case to be made for raising interest rates, that would encourage SAVINGS (important) and discourage frivolous spending and debt.
Too late. The world is addicted to cheap man-power and low interest rates.
It will be very hard to reverse the momentum. It could be done but it will be painful too. By painful, I don't mean what we saw last month. That was nothing.
It will be very hard to reverse the momentum. It could be done but it will be painful too. By painful, I don't mean what we saw last month. That was nothing.
...
Each day it becomes clearer what is happening to the Western economies. Whether the bulk of the blame is on the Western World's high debts (probably) or China re foisting COVID-19 upon the world (likely) is not that important for the purposes of what we need to start doing NOW. It looks like we are sliding into an Economic Depression. And we are about to enter a Whole New World with its own "New Normal". I believe it is clear that some fundamental restructuring of our (American and European) economies is an urgent matter. But, this will be very expensive and take a long time to implement, and there will be much resistance to these policies.
It has now become clear that the Globalist Model has major defects. There is some good in Globalism, but we now see that there is bad as well. We need to be thinking about how to make our country/countries stronger and less reliant on dictatorships like Communist China (and to a degree authoritarian Russia). The below seem to be fundamental things we need to begin ASAP:
Bring Back Certain Manufacturing
Yes, I understand that doing the above would drive costs of pharma and other products way up. OK, but look at what COVID-19 has done to us re driving up costs! The above suggestions would also create a lot of good jobs, many of them just the sort of STEM jobs that we apparently really need in addition to safeguarding our security.
Rebuilding vital parts of our industrial base seems very important. And time's a-wasting. Let's get this started!
Build Infrastructure
For years (decades) we have been hearing all about the decline of our basic infrastructure. Yes, it's a real problem (set of large problems), I have traveled enough to see how some of our infrastructure is in bad shape compared to what I see from time-to-time overseas. Infrastructure is expensive! Yes, I understand, also infrastructure projects are often huge magnets for fraud, cost overruns, poor workmanship, etc.
Nonetheless, properly functioning countries need to have properly functioning infrastructure. I list out some (I make no prettense that the below is all-inclusive), but these DO seem to be necessary to get done. And get started ASAP.
There are other items I'm sure I have missed.
* * *
I assure you that I am not naive as to the very high costs of doing the above. And the risks of massive waste. But, these are important things that we must do, both for national security and for strengthening our economies -- making us more resistant and resilient to further DISASTERS that likely await us in the coming years. They would create good jobs, and leave us better prepared for the future.
"The key is not predicting the future, but to be prepared for it"
-- Pericles (500 BC)
Each day it becomes clearer what is happening to the Western economies. Whether the bulk of the blame is on the Western World's high debts (probably) or China re foisting COVID-19 upon the world (likely) is not that important for the purposes of what we need to start doing NOW. It looks like we are sliding into an Economic Depression. And we are about to enter a Whole New World with its own "New Normal". I believe it is clear that some fundamental restructuring of our (American and European) economies is an urgent matter. But, this will be very expensive and take a long time to implement, and there will be much resistance to these policies.
It has now become clear that the Globalist Model has major defects. There is some good in Globalism, but we now see that there is bad as well. We need to be thinking about how to make our country/countries stronger and less reliant on dictatorships like Communist China (and to a degree authoritarian Russia). The below seem to be fundamental things we need to begin ASAP:
Bring Back Certain Manufacturing
- We need to be manufacturing much more of our pharmaceuticals (including the vital precursor chemicals) here. In US plants (Europe as well). It is awful that we have to put up with Chicom threats to cutting us off our pharma. I understand that many pharma companies strongly resist this (higher costs, they are not ready, etc.). Well TS. We should have started this process a long time ago.
- Similarly we need to start mining Rare Earth metals here in North America (Europe has some deposits as well). These are vital to new technologies and for alternative energy (inc. electric cars). We have to break down the barriers to opening rare earth mines, and to build the processing plants to turn the minerals into useful products (magnets, etc.).
- And we need to produce more electronic components here in North America and Europe. Trump has already suggested to Tim Cook that Apple building more plants here in the USA would be a good idea. We are very dependent on China in components as well.
Yes, I understand that doing the above would drive costs of pharma and other products way up. OK, but look at what COVID-19 has done to us re driving up costs! The above suggestions would also create a lot of good jobs, many of them just the sort of STEM jobs that we apparently really need in addition to safeguarding our security.
Rebuilding vital parts of our industrial base seems very important. And time's a-wasting. Let's get this started!
Build Infrastructure
For years (decades) we have been hearing all about the decline of our basic infrastructure. Yes, it's a real problem (set of large problems), I have traveled enough to see how some of our infrastructure is in bad shape compared to what I see from time-to-time overseas. Infrastructure is expensive! Yes, I understand, also infrastructure projects are often huge magnets for fraud, cost overruns, poor workmanship, etc.
Nonetheless, properly functioning countries need to have properly functioning infrastructure. I list out some (I make no prettense that the below is all-inclusive), but these DO seem to be necessary to get done. And get started ASAP.
- Strengthen the electrical grid. Our rickety grid is unacceptable. It is also quite vulnerable to a variety of attacks by hostile enemies...
- Rebuild our railroads, ports and highways. Probably our airports as well, although air travel may be declining for the next couple of years...
- Water & sewage systems.
- Cybersecurity, for obvious reasons.
- Energy: fossil fuels (how about using more natural gas?), alternative energies, conservation, etc.
- A properly functioning public health system, perhaps redoing the CDC and working with Europe to reform the WHO.
There are other items I'm sure I have missed.
* * *
I assure you that I am not naive as to the very high costs of doing the above. And the risks of massive waste. But, these are important things that we must do, both for national security and for strengthening our economies -- making us more resistant and resilient to further DISASTERS that likely await us in the coming years. They would create good jobs, and leave us better prepared for the future.
"The key is not predicting the future, but to be prepared for it"
-- Pericles (500 BC)
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