BRICS countries will see the highest surge in millionaires globally over the next decade

[YoursTruly]

How come so many other corporations did not have to do the same thing?

Who said they didn't? There's a ton of American companies that import cheaper materials & chemicals to produce their product. Including our own government.
The Chinese manufacture some part of our F35's. (IIRC)

 

[elektra]

Who said they didn't? There's a ton of American companies that import cheaper materials & chemicals to produce their product. Including our own government.
The Chinese manufacture some part of our F35's. (IIRC)

I said they did not.

Democrats sold us out to China, and it had nothing to do with staying competitive with foreign companies.

I am sure you can find one or two cases. If you can find any at all. I lived through the times. I saw the jobs disappear. It was certainly greed, as well as escaping the burden of our taxes and rules and regulations, and laws.

Sure, cheaper labor was part of it, but a big part was escaping the cost of doing business with the US government.

Government, is the biggest cost that corporations encounter.

 

[justoffal]

BS. He did help BRICS when he was in office. And he is responsible for the inflation we have now. So is Obama. Because none of them reduced the debt or deficit.

You do realize that the debt, deficit and inflation doesn't zero out when a new president takes office, right?


When a country can produce things cheaper, and sell it on the American market, they make a LOT more money than American manufacturers who sell to those countries. For the simply fact that our labor is much more costly.

In some of those countries $10 per day, is a decent wage. Here, $10 per hour is a poverty wage.

Bingo

 

[Orangecat]

Being a millionaire doesn’t mean much due to decades of loose fiscal policy.

 

[justoffal]

BS. He did help BRICS when he was in office. And he is responsible for the inflation we have now. So is Obama. Because none of them reduced the debt or deficit.

You do realize that the debt, deficit and inflation doesn't zero out when a new president takes office, right?


When a country can produce things cheaper, and sell it on the American market, they make a LOT more money than American manufacturers who sell to those countries. For the simply fact that our labor is much more costly.

In some of those countries $10 per day, is a decent wage. Here, $10 per hour is a poverty wage.

China will win not because they are mightier but because we won't be able to afford our own defense. Been saying this for ten years.

 

[citygator]

40% of the world’s millionaires are in the US. There are more than 25M of us.

 

[justoffal]

40% of the world’s millionaires are in the US. There are more than 25M of us.


View attachment 922156

Millionaires in a failing currency

 

[YoursTruly]

Millionaires in a failing currency

Thanks to big spending politicians, having a million $$$ now, is about like having $100,000 40 years ago. In another 30 years, having $1 million will make you middle class.

 

[citygator]

Millionaires in a failing currency

Not according to exchange rates.

 

[justoffal]

Not according to exchange rates.

Well sure the dollar is still the reserve currency what happens when that goes away?

 

[YoursTruly]

Well sure the dollar is still the reserve currency what happens when that goes away?

I think people remember Russia in 1991, when the USSR ended. Hyper inflation.

Russian were pretty strong, and strong minded during that. Can you imagine our society, with so many weak individuals if/when this sort of thing happens?