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  •  My back of the envelope calculations yesterday (0+ / 0-)

    To quote myself:

    320,000+ jobs, $359 billion.  From a market cap perspective, it would be like eliminating Toyota, Honda, GM, and Ford in one fell swoop.  From a headcount standpoint, that's the population of Cincinnati proper.

    The Cubs WILL win the World Series in '07. I'm not saying which century, though.

    by nightsweat on Thu Jul 12, 2007 at 07:31:59 AM PDT

    [ Parent ]

    •  If the American middle class (2+ / 0-)
      Recommended by:
      Brooke In Seattle, esquimaux

      starts to emigrate because of health assurance and defense expenditures in the USA are much larger per person than in all other advanced economies, the real estate crash would be in the trillions.

      You can cut the diseased appendix out now, or you can wait until it bursts and deal with the complications too.

      •  I think it's definitely worth doing (0+ / 0-)

        My point the other day is that we need to take the transition seriously and not assume - a la Iraq - that things will just work out.

        It'd be really nice to have that mountain sixteen inches to the right and we have the technology to do it, but we need to figure out the mechanism to make it happen.

        The Cubs WILL win the World Series in '07. I'm not saying which century, though.

        by nightsweat on Thu Jul 12, 2007 at 10:46:01 AM PDT

        [ Parent ]

      •  Where can we emigrate? (0+ / 0-)

        European countries have unemployment and language skills are needed for non-British Isles jobs for the most part. When I was somewhat fluent in French, I was turned down for French jobs because I spoke American, not English. Also, I didn't feel right taking a French job. I met so many unemployed there. They were well compensated--money wasn't a big issue, but being out of work was demoralizing.

    •  How much of that is capital in terms of buildings (2+ / 0-)
      Recommended by:
      Sparhawk, esquimaux

      and how much is executive pay? Insurance workers other than the high-flying execs are for the most part paid modestly. Of course, we don't have any manufacturing jobs left. China is issuing bonds to take billions out of their economy so it won't inflate (and workers won't demand more pay). That money goes into buying American debt in T-bills. Might it be better to bring some manufacturing back here where environmental laws and labor laws exist. (50,000 fingers are lost in Chinese factories each month.)

      •  That's market cap (0+ / 0-)

        So share price * outstanding shares.

        It doesn't include privately held companies or those not on the Yahoo! index page for those two industries.

        The Cubs WILL win the World Series in '07. I'm not saying which century, though.

        by nightsweat on Thu Jul 12, 2007 at 11:42:05 AM PDT

        [ Parent ]

    •  Yes... (1+ / 0-)
      Recommended by:
      nicta

      ...this is fine. Aren't the right-wingers always going on and on about free market stuff?

      The people that work for these companies do not perform any kind of economically useful activity. We're pretty much paying them to dig holes and fill them back in. They need to be moved into areas that are economically useful (see the broken window fallacy).

      Certainly I'd approve/advocate in the same bill that sets up single payer care, a big dollar fund to retrain health insurance employees to do something else that's useful.

      •  And just what would that be? (0+ / 0-)

        There are only a certain number of service positions available in any economy. Who will we be left to serve?

        There are already no jobs in this country. I've been unemployed for almost six months. Let the health insurance industry workers join the party. Maybe the critical mass will shift the government into action as far as finally taking care of its citizens.

        We need a president to start a new jobs program the day after he/she is inaugurated.

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