Glaucon wrote:Company A (as in Apple) makes phones. They design a nifty new phone. And order all the parts from China, on the cheap, where they are made in factories that have nets hanging below the upper windows and roof, to stop employees from killing themselves. Profit (and shares) up, but no jobs at home.
Company B is really innovative. It creates a really good online shop where people can shop for shoes. All of that is done from one facility in the country. It's profits go up, as department stores and specialist shoe-shops around the country lay people off and close doors.
How is this good for our own economy in both examples? or any economy for that matter if in example A.. They employ in china and are located in the US or europe or any other locale other than china.. or B.. All done online departments lay off several hundreds perhaps the company makes a nice profit but several thousands of jobs layed off cant really make up for a companies nice profit if everyone is on unemployment and eventually cannot buy all this stuff??
Im not going to say there hasnt been improvment since 2008/2009 think there has.. But i cannot fathom how it matches the extremely over priced market.. I dont see how our market today is better than it was in 2007/2008.. Maybe this is far fetched but think we should be 11-13k range.. I might be as bold to say 10k but that is a stretch think we have recovered more than that thou not the record 16.5k or whatever its at now