outsourcing frees up resources that can be used for more productive means. You don't need an American computer programmer wasting time on simple coding when he can get someone in India to do it, because he is much more capable he can do things much more efficiently then the Indian guy can, this is called Comparative Advantage.
i agree with libritarians in almost every point of view except outsourcing. one of the biggest flaws in the idea of not regulating outsourcing is that we're outsourcing jobs to countries like China where unions are illegal/unallowed. which is unamerican too! so basically in this new global economy we're trading our own freedom for another countries lack of freedom. eventually we're all going to be slaves, but buying cheap shit!
Here's the thing though: how USEFUL is that new job sitting behind a desk taking phone calls? Cuz that doesn't fix the trade deficit I'll tell you that right now.
We're in a situation right now where the jobs that contribute to exports are being lost overseas while only service jobs are being created in the states. We need to rebuild manufacturing somehow, and it's not going to be easy. Unions are gonna have to suck it up and let this country get back on its feet.
People are idiots if they think "outsourcing' by itself will always result in lower retail prices. Sometimes yes, other times no. Many factors go into setting retail price, Brand recognition and perceived value being the two key ones. The empathsis has gone from the factory floor to the marketing room. Nike shoes made today for $7 in Indonesia still sell for $185 retail. The money to pay Tiger has to come from somewhere.
Simply replacing jobs with other types, does not tell the full picture, a $40,000 manufacturing job provides a better standard of living plus generates more tax dollars, than replacing it with a retail or clerical job paying $20,000. The US national debt is absolutely shocking, Stossel is a free entrepiser, well if the US were a company it would have gone into bankruptcy by now.
China basically owns the US from all the money the US has borrowed and can't pay back.
I like Stossel's shows and agree with much of what he usually says, but you have to remember they are HIGHLY edited and BIASED to present a POINT OF VIEW. Yes, he uses very good common sense arguments, but 5 second sound bites and "who and what questions are asked" plays a key role in shaping an opinion piece.
America used to be a country that actually made stuff, now it far more, shuffles numbers around, jobs that have less lasting value to an economy, ie are less sustainable.
how is out sourcing job a bad thing? its all business. company are there to make money, period. they are not there to be our friend and savior. embrace it we were a production country once and our rules and regulation have push the company to outsource to survive. why would anyone pay someone to turn a wrench if a chimp can do it for 2 bananas.
Free trade leads to more efficient ways of production which means cheaper goods and company expansion everywhere. One persons's "greed" or self interest will lead to a better economic situation for the entire community... Read the book "common sense economics: what everyone should know about wealth and prosperity"
Stossel says Greed is Good-defined as self interest-for the wealthy if so Greed-self interest- is good for other people the 99%. LITTLE FLAW IN STOSSEL STATEMENT GREED IS GOOD DEFINED AS SELF INTEREST THEN IT'S GOOD FOR EVERYONE NOT JUST WEALTHY!!!!!
dobbs -- "he should be out of business." no one is stating this and he is 100% correct. by allowing China into the WTO, we created a race to the bottom that we CANNOT WIN.
for the stupid, low-IQ out there..."WE CANNOT WIN A RACE TO THE BOTTOM."
the software company that saved jobs, did so at the expense of another company that decided to keep "production" in the US. if we keep exporting jobs, we will have given away the store! you can only sell if you have something to sell.
wealth is not created from lower prices; it is created via production. if there are no jobs, it does not matter if you sell that new car for peanuts...if the person has NO job to which savings can be accumulated.
i would say 99.9% of people have NO grasp of this on an abstract-level, on a technical-level, nor on a level sufficient to know what the alternative solutions would be.
we use to manufacture-produce 94% of ALL that we consumed. now we go hat-in-hand to the world!
@qncsc You're in the 99.9% then, dude. First, stop making up statistics. Second, lower prices = more wealth. Compare the percentage of income spent on food and shelter back in the mythic age of no importing to what it is now.
what you have to understand is that some problems are like the SAT. earlier problems are easy and the later problems are more difficult to answer. economic problems are some of the hardest, most complex and least answerable by the "average joe" (or the worldofdraculus). good luck trying to answer the toughest problems; for you, you would probably not even understand the question.
"good luck trying to answer the toughest problems; for you, you would probably not even understand the question."
lol, I love you keyboard internet intellectuals. Your comments are spewing more smug into the atmosphere than george clooney's Oscar acceptance speech.
@qncsc - we use to manufacture-produce 94% of ALL that we consumed. now we go hat-in-hand to the world!"
Thank you, at least someone gets it. The USA has gone from a manufacturing nation, a country that built more and consumed less. The present model of over consumption and dwindling production is simply not sustainable. Being able to buy lower priced crap is not the answer.
The lower price claim is bullshit. you take almost any product from the 1950s or 1960s, take the price adjusted for inflation and almost every single time, the foreign product today is more expensive than the american made product back then. Makes me sick! We could make products here in America, yes companies would makes less, but they wouldn't lose money, they would still make plenty and we wouldn't have such a problem with unemployment.
Check how many weeks wages it would have cost to purchase an average tv in 1950.
Check how many DAYS wages it takes to purchase an average tv in 2011.
Now do it for a Car
A Refrigerator
AC
Clothes
Cmon, use common sense. We dont make bobble heads because we do better things with our capital now. We research the latest tech so that our lives better, and we are better off.
@SquashDog01 It's ridiculous. Are you aware that the United States no longer makes t.v.'s or lightbulbs or even forks and spoons? I don't mean few, I mean we literally do not make these things anymore. We invented the lightbulb for Christ's sake! Maybe you are ok with supporting Chinese, Taiwanese, Canadian, Mexican, Pakistani, Indonesian, and all other foreign labor but I am not. It's not about price for me, it's about supporting our manufacturing whether it be airplanes or bobbleheads.
@elviscash56 If you want to pay higher prices to support American jobs, you're free to do that; just don't tell me or others we have to do the same. This outsourcing thing when you get down to it is no different than the old complaint about chain stores shutting down mom and pop places. This is where the market is taking things, and in free trade and the free market you have choice, so if you choose to pay those higher prices for American-made products, go ahead, but you can't force me to.
@elviscash56 Actually, the US does still make lightbulbs. But the ones we do produce will be banned soon if they haven't been already by the US Congress and Mr. Obama. So who are the ones taking away American jobs? Gov't is where I put it.
@elviscash56 The lower price claim is NOT bullshit. Where can we buy american made products today at 1950's prices? You disregard prices TODAY. You should analyze what has happened to America since then. Socialism, collectivism does not work. About the comment below: Is it better for poor country workers to have NO jobs? Starve to death instead? If rich countries stopped supporting corrupt regimes, keeping them in power with aid circulating at the top, then the fight for law&order will improve
@Mystefystisk The main reason stuff costs more today than in 1950 is about 98% due to the planned devaluation of our currency by making it physically worth less. A dime minted in 1963 can still buy you a gallon of gas in today's prices because the dime was minted out of 90+% silver and weighed a tenth of an ounce. At today's prices for silver, that's ~$3. The price of gas per gallon~$3. Our prices go up because our money is going down, not the other way around.
1 job lost here is a job gained there when outsourcing occurs. There are two major differences though, in other countries, massive environmental degradation occurs to cut costs (dumping trash/pollutants in rivers, burning electrical components releasing toxic fumes into the air to recycle valuable metals, the burning of coal with no filters (thousands with pre-existing respiratory problems die) ). Also, workers over there have much fewer opportunities to find employment.
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
I usually either agree with Stossel or at least see his point. This report makes me angry. HOW can sending ALL of America's manufacturing and Tech support jobs overseas to take advantage of their poorer standard of living be A GOOD THING??
Its a good thing if you're a capitalist Corporate fatcat interested only in profits.
Take the jobs from the middle and lower classes and send them oversees so the rich can get richer.
@CH3Jason a lot of IT people are still layed off. few have gotten the good paying jobs. outsourcing does have the effect of making corporations richer but that doesn't mean they will create more jobs when they don't need to. outsourcing makes the rich richer and the poor poorer in the USA.
You are taught in econ 101 that specializing in trade and lowering oppurtunity cost is the best way a country profits. Do these people never take these classes...Or are they just asleep. I had to literally teach my 11th grade teacher a few weeks ago why outsourcing is good.
@adulby in sending our low wage jobs overseas, we have effectivly pulled the rug out of our low wage job earners. we need low wage jobs for people who are starting out or for people who needs second jobs or for those chronocly unemployed.
@desiguy55 outsourcing is a almost a direct result from the minimum wage laws. If you want to have low wage job earners have jobs in the first place you have to eliminate the minimum wage. You cant have high employment for the low wage groups and minimum wage at the same time. You have to choose. Labor unions are another incentive to find work outside the States. eliminate these two issues and your statement becomes relevant. otherwise you are asking for both.
@adulby true for some cases but not all the cases. i know of many companies who are laying off their well paid employees to open the same factories in another cheaper country. Reason 1 is the US government makes it easy due to NAFTA. Reason 2 their profit margins goes waay up. reason 3 let the foreign ppl take care of the nonunionized foreign workforce. reason 4, don't need to pay for health care , Fica, facilities in the US, and other costs. reason 5 their stockholders see huge returns.
Stossel for prez! This is the one issue I'm torn on ahhh it makes my head flaccid! And it makes my other head think so hard it explodes! Hmm I guess both verbs work for either. :0
@nfwvideo1 That assumes the work I do will get sent overseas. It won't. Even if somehow it did, so be it. Stossel would still be correct that there is nothing wrong with outsourcing.
The only reason why their labor is cheaper there, is because the cost of living in those countries is much lower than it is here.
Paying someone in India 3 bucks an hour would be the same as paying someone here minimum wage.
They just have different purchasing power, 20 bucks in china might be 100 bucks here, which is why you can pay them "less". So there really is no difference, China's wealth has grown exponentially ever since there free market approach.
@101zulu those are fallacies, both Germany and Japan Both have trade Surpluses with China and both of those countries have higher wage rates and cost of living
@101zulu - China's wealth has grown exponentially ever since there free market approach"
That is because of China's vast production, they are what America was say 60-80 years ago, ie they made products for the world and consumed less per capita. Is it any wonder that today, China basically owns the US, if they called in their loans (which they would not do), the US would not be able to pay and would have to either default or go bankrupt,
@CCRider100 lmao you have no knowledge of economics whatsoever. "if they called in their loans...", their loans are called US treasury securities, which can't be "called in". the interest payments, redemption amount, and payment dates are set.
its all about CHEAP LABOR! In other countries, peasants work for pennies a day. They do the work faster cheaper and better. If you want the jobs back, everyone should work for less than a dollar a day to compete with the Indians.
Usually I agree with John on most ideas, but this one is more complicated than this. The theory of comparative advantage where the one who can produce it at the least costs will benefit everyone with lower prices is true however it doesn't take into account national security issues such as when we stop making steel and motors and then have to import such items from a potentially hostile nation. Further it doesn't account for future industrial growth and power that a specific
it's also funny how stossel sites the place is being turned into a college and you can watch his other video talking about what a rip off a bachelor's degree usually is.
we used to have a 3 billion dollar trade surplus with mexico before nafta now because of corn dumping we have a roughly $40 billion trade deficite. and a huge loss of american factory jobs...free trade and outsorcing doesn't always work
How about outsourcing labor jobs to the US inner cities at low wages? Oh wait... they are already getting FREE money from the tax payer because we have laws preventing low wages. Government is the problem as Ronald Reagan said.
Unions are partly to blame for the "outsourcing"... the free market dictates, not the workers. Simply put the workers are only a small percent of the market. The entire market (the FREE MARKET) is all of us intertwinded in a web. An area of the market says ill do that for cheaper and it will gravitate to that. Like anyone would. Dont blame others greed for your situation, blame your greediness that caused it, You wanted $22 an hour to do a menial task and now your gonna lose out.
@ORACLE063 - Dont blame others greed for your situation, blame your greediness that caused it. You wanted $22 an hour to do a menial task and now your gonna lose out"
Funny you mention greed because Nike used that exact logic when they closed down their factory in one part of Asia (workers making 70 cents/hr) and moved it to another Asian country where they could pay the workers 27 cents per hour. Greedy fat bastards, how dare they want 2 bowls of rice per day, when one is enough.
@DarrelfromZeeland no it wasnt. "All men are created equal" note it does not say: all white men, all american citizens, all wealthy land owners.... it says all men... they have rights and as a slave u have no rights. So your logic is flawed. Granted though the Civil War was bullshit and should not have taken place in a free society. By using force on the south the north was unjustified by the law of the land, the consititution. Thats that.
If poor countries can acquire more wealth this way, they will eventually have to invest it. Like building infrastructure, buying cars and computers. Technology advanced western countries can provide this, which will increase jobs in those sectors.
In the end, doesn't outsourcing and free markets makes the world a better place?
John Stossel is such a smug bastard, let's outsource his job and see if he likes it so much. If you believe that outsourcing American jobs is good for the economy you're not paying attention. Let him go ask the workers who've lost their jobs to outsourcing if they would like the jobs back. I'm sick of Stossel spouting his anarcho-capitalist garbage. Outsourcing is good for the bottom line of companies that do it, not for the rest of us.
@sming01 Anyone complaining about outsourcing can thank the unions, minimum wage, workmens' comp, social security, EPA, OSHA, and all other socialist labor and environmental laws and regulations and taxes to support the Marxist welfare state.
Outsourcing will make America dependent not independent economically which is a long term threat to both national economic and defense security. Yes, Japan has factories in other countries but not to the point of hollowing out their economy's manufacturing sector w/c is always the key critical core of any national economy because they know that service jobs are just complementary-supplementary jobs, not replacement jobs because the service sector's inherent market is the manufacturing sector!
As a Russian I will say that 20/20 did not do the necessary in-depth critical research analysis of the totality of all situations and circumstances concerning the problems created by outsourcing in it's whole entierty! Why is it that it takes an outsider like me, a Russian, to be able to see through the flaws of this news that concerns the problems of outsourcing while most Americans don't seem to see it through very deeply? What is wrong with you Americans? The problems are in front of you!
The reason why outsourcing is being promoted is because Americans were and are still being dumbed down and educationally degraded deliberately by their own government run public school systems so as to artificially create a shortage of highly qualified and highly educated manpower labor pool needed to run American businesses & industries. & the same time the US government is creating economic policies that discourages insourcing stability by making it unprofitable to do business here like NAFTA
Outsourcing will also directly and indirectly destroy our scientific, engineering, technological, and technical labor force w/c makes us dependent on outside sources for qualified manpower which is a long term security threat. And it discourages Americans from entering the scientific, engineering, technological, and industrial careers because outsourcing has damaged these fields' jobs availability and accessibility. It will destroy our pool of independent local labor force in these fields!
Outsourcing will also create a second danger besides the direct and indirect loss of local American jobs. It's called patents violations, substandardized products, intellectual rights violations, defense problems caused by The Hacker in Your Hardware: The Next Security Threat, information records and files held hostage by someone else, etc and America has no control over such problems because they're outsourced overseas!
Service jobs of the service sector of the service economy is dependent on the continued local existence of manufacturing. He said Americans does not want manufacturing jobs, if so then robotized those jobs just like what the Japanese did which in turn created local jobs in the ROBOTICS INDUSTRY & it's supporting computer industries and other support industries and encourage Americans to enter the new engineering field called MECHATRONICS w/c will give them addtional jobs, skills, & experiences.
Of what use is outsourcing when they turn their intended costumers into welfare recipients who can't afford cheap products and services? Cheap labor destroys labor's rights to a decent salary and benefits both here and abroad because people are fighting over the same number of jobs. The jobs being mentioned are service-based jobs that are not stable in the long term, the service sectors needs the market of the manufacturing sectors, if manufacturing goes overseas then so does the services!
Of what use is outsourcing when they turn their intended costumers into welfare recipients who can't afford cheap products and services? Cheap labor destroys labor's rights to a decent salary and benefits both here and abroad because people are fighting over the same number of jobs. The jobs being mentioned are service-based jobs that are not stable in the long term, the service sectors needs the market of the local manufacturing sectors, if manufacturing goes overseas then so does the services!
John Stossel is correct, he uses a lot of arguments that Economist use. Though he does seem to manipulate some of the information in this segment, His overall message is right Out sourcing creates jobs and makes products cheaper for us to buy.
when william harding was president he included a higher tariff in his economic policy and restricted immigration and unemployment went from 12% to 2% in one year.
@electricguitarplayr Hi there, you should focus on playing the guitar and getting food stamps because you're useless as an historian.
William Harding took over as president in a post-war depression, he CUT TAXES(which is essentially making the market more free) and reduced the national debt.
You see, "tariff" means taxing something to the point it's almost nullified in the economy, and CUTTING TAXES means lowering the taxes on something so its value in the economy rises. Have a nice day :)
@KripDrip Don't know what my comment was here but: Because you need taxes to fund judiciary systems, create laws, secure your borders & enforce your laws.
FUNNY - Stossel says at around 3:18 an incorrect phrase, it may have been intentional: "sorry to be the garden at your skunk party". Wouldn't the skunk be at the garden party? LOL
Those who say that we somehow have a greater right to "our" jobs than other people are discriminating against those other people based on their nation of choice.
@DavidUmstattd We absolutely have every right to "discriminate" against failed nation-states that destroy jobs and free enterprise by encouraging socialist wealth redistribution and overpopulation and resource depletion and whose only export is the forced labor of their impoverished victims of these failed government policies. The only alternative is to either drag us down to their level, or to waste more of our resources acting as police for the rest of the world.
He does what most journalists does, showing anecdotes and a few statistics to illustrates his points in a 5 minutes block. He also provide an explanations and arguments to his points like an editorialist does. You may not agree with his views but he is none the less doing a good job. He is hired as a journalist/editorialist, not as a statistician.
@anarkoFred He's pushing a libertarian perspective, and one that would be perfectly legitimate if presented with the proper context without making it a glib propaganda piece. His example of the company that expands by exporting good jobs is simply outrageous. He argues that lower prices make up for unemployment. He uses doctored graphs with contrived axes. He fails to account for immigration and population growth. Overall this is one of Stossel's absolute worst segments.
well look at China they are now importing cheap labor from North Korea and Mongolia what is Dobb's explanation. Even Mexico import Cheap labor but its from Honduras. look India , China, USA, and japan outsource call centers to the Philippines.
Moderation to you is not enough or excess to others. Whatever a company wants to do is their choice. If you don't like what they are doing, don't patronise that company, simple as that. I
f most people feel like you do then the company will either go bust, or it will change its course and survive. Make your own choices, don't force others to do the same.
outsourcing frees up resources that can be used for more productive means. You don't need an American computer programmer wasting time on simple coding when he can get someone in India to do it, because he is much more capable he can do things much more efficiently then the Indian guy can, this is called Comparative Advantage.
Mezey5 3 weeks ago
i agree with libritarians in almost every point of view except outsourcing. one of the biggest flaws in the idea of not regulating outsourcing is that we're outsourcing jobs to countries like China where unions are illegal/unallowed. which is unamerican too! so basically in this new global economy we're trading our own freedom for another countries lack of freedom. eventually we're all going to be slaves, but buying cheap shit!
8bitsurrender 3 weeks ago
Comment removed
UltraProle21 4 weeks ago
Comment removed
UltraProle21 4 weeks ago
Here's the thing though: how USEFUL is that new job sitting behind a desk taking phone calls? Cuz that doesn't fix the trade deficit I'll tell you that right now.
We're in a situation right now where the jobs that contribute to exports are being lost overseas while only service jobs are being created in the states. We need to rebuild manufacturing somehow, and it's not going to be easy. Unions are gonna have to suck it up and let this country get back on its feet.
Spjungen 1 month ago
People are idiots if they think "outsourcing' by itself will always result in lower retail prices. Sometimes yes, other times no. Many factors go into setting retail price, Brand recognition and perceived value being the two key ones. The empathsis has gone from the factory floor to the marketing room. Nike shoes made today for $7 in Indonesia still sell for $185 retail. The money to pay Tiger has to come from somewhere.
CCRider100 1 month ago
This has been flagged as spam show
Simply replacing jobs with other types, does not tell the full picture, a $40,000 manufacturing job provides a better standard of living plus generates more tax dollars, than replacing it with a retail or clerical job paying $20,000. The US national debt is absolutely shocking, Stossel is a free entrepiser, well if the US were a company it would have gone into bankruptcy by now.
China basically owns the US from all the money the US has borrowed and can't pay back.
CCRider100 1 month ago
Comment removed
CCRider100 1 month ago
Comment removed
CCRider100 1 month ago
I like Stossel's shows and agree with much of what he usually says, but you have to remember they are HIGHLY edited and BIASED to present a POINT OF VIEW. Yes, he uses very good common sense arguments, but 5 second sound bites and "who and what questions are asked" plays a key role in shaping an opinion piece.
America used to be a country that actually made stuff, now it far more, shuffles numbers around, jobs that have less lasting value to an economy, ie are less sustainable.
CCRider100 1 month ago
how is out sourcing job a bad thing? its all business. company are there to make money, period. they are not there to be our friend and savior. embrace it we were a production country once and our rules and regulation have push the company to outsource to survive. why would anyone pay someone to turn a wrench if a chimp can do it for 2 bananas.
hmongak 1 month ago
DEY TEEK ER JERBS!!!!!!!
awp97128 1 month ago
Dude who posted under me:
Free trade leads to more efficient ways of production which means cheaper goods and company expansion everywhere. One persons's "greed" or self interest will lead to a better economic situation for the entire community... Read the book "common sense economics: what everyone should know about wealth and prosperity"
hahawowdude1 2 months ago
This has been flagged as spam show
Stossel says Greed is Good-defined as self interest-for the wealthy if so Greed-self interest- is good for other people the 99%. LITTLE FLAW IN STOSSEL STATEMENT GREED IS GOOD DEFINED AS SELF INTEREST THEN IT'S GOOD FOR EVERYONE NOT JUST WEALTHY!!!!!
FireflyMalcolm 2 months ago
By the way, the word for thinking no one understands your brilliant insights is "hubris".
worldofdraculas 3 months ago
2:59
GENIUS!
dobbs -- "he should be out of business." no one is stating this and he is 100% correct. by allowing China into the WTO, we created a race to the bottom that we CANNOT WIN.
for the stupid, low-IQ out there..."WE CANNOT WIN A RACE TO THE BOTTOM."
the software company that saved jobs, did so at the expense of another company that decided to keep "production" in the US. if we keep exporting jobs, we will have given away the store! you can only sell if you have something to sell.
qncsc 3 months ago
STOSSEL YOU IDIOT!
wealth is not created from lower prices; it is created via production. if there are no jobs, it does not matter if you sell that new car for peanuts...if the person has NO job to which savings can be accumulated.
i would say 99.9% of people have NO grasp of this on an abstract-level, on a technical-level, nor on a level sufficient to know what the alternative solutions would be.
we use to manufacture-produce 94% of ALL that we consumed. now we go hat-in-hand to the world!
qncsc 3 months ago
@qncsc You're in the 99.9% then, dude. First, stop making up statistics. Second, lower prices = more wealth. Compare the percentage of income spent on food and shelter back in the mythic age of no importing to what it is now.
worldofdraculas 3 months ago
@worldofdraculas - compare...have you done this?
what you have to understand is that some problems are like the SAT. earlier problems are easy and the later problems are more difficult to answer. economic problems are some of the hardest, most complex and least answerable by the "average joe" (or the worldofdraculus). good luck trying to answer the toughest problems; for you, you would probably not even understand the question.
moron!
qncsc 3 months ago
@qncsc
"good luck trying to answer the toughest problems; for you, you would probably not even understand the question."
lol, I love you keyboard internet intellectuals. Your comments are spewing more smug into the atmosphere than george clooney's Oscar acceptance speech.
IndividualParties 3 months ago
@IndividualParties - thanks! it takes effort to cram sarcasm (or not) into 500 characters!
qncsc 3 months ago
@qncsc - we use to manufacture-produce 94% of ALL that we consumed. now we go hat-in-hand to the world!"
Thank you, at least someone gets it. The USA has gone from a manufacturing nation, a country that built more and consumed less. The present model of over consumption and dwindling production is simply not sustainable. Being able to buy lower priced crap is not the answer.
CCRider100 1 month ago
i wonder is that lady still a secretary. and those other people?
Bloodsport1 5 months ago
The lower price claim is bullshit. you take almost any product from the 1950s or 1960s, take the price adjusted for inflation and almost every single time, the foreign product today is more expensive than the american made product back then. Makes me sick! We could make products here in America, yes companies would makes less, but they wouldn't lose money, they would still make plenty and we wouldn't have such a problem with unemployment.
elviscash56 5 months ago
@elviscash56 That is complete and total nonsense.
Do yourself a favor and check something for me.
Check how many weeks wages it would have cost to purchase an average tv in 1950.
Check how many DAYS wages it takes to purchase an average tv in 2011.
Now do it for a Car
A Refrigerator
AC
Clothes
Cmon, use common sense. We dont make bobble heads because we do better things with our capital now. We research the latest tech so that our lives better, and we are better off.
SquashDog01 5 months ago
@SquashDog01 It's ridiculous. Are you aware that the United States no longer makes t.v.'s or lightbulbs or even forks and spoons? I don't mean few, I mean we literally do not make these things anymore. We invented the lightbulb for Christ's sake! Maybe you are ok with supporting Chinese, Taiwanese, Canadian, Mexican, Pakistani, Indonesian, and all other foreign labor but I am not. It's not about price for me, it's about supporting our manufacturing whether it be airplanes or bobbleheads.
elviscash56 5 months ago
@elviscash56 If you want to pay higher prices to support American jobs, you're free to do that; just don't tell me or others we have to do the same. This outsourcing thing when you get down to it is no different than the old complaint about chain stores shutting down mom and pop places. This is where the market is taking things, and in free trade and the free market you have choice, so if you choose to pay those higher prices for American-made products, go ahead, but you can't force me to.
kommisar 5 months ago
@elviscash56 Actually, the US does still make lightbulbs. But the ones we do produce will be banned soon if they haven't been already by the US Congress and Mr. Obama. So who are the ones taking away American jobs? Gov't is where I put it.
dlstb 4 months ago
@elviscash56 The lower price claim is NOT bullshit. Where can we buy american made products today at 1950's prices? You disregard prices TODAY. You should analyze what has happened to America since then. Socialism, collectivism does not work. About the comment below: Is it better for poor country workers to have NO jobs? Starve to death instead? If rich countries stopped supporting corrupt regimes, keeping them in power with aid circulating at the top, then the fight for law&order will improve
Mystefystisk 5 months ago
@Mystefystisk The main reason stuff costs more today than in 1950 is about 98% due to the planned devaluation of our currency by making it physically worth less. A dime minted in 1963 can still buy you a gallon of gas in today's prices because the dime was minted out of 90+% silver and weighed a tenth of an ounce. At today's prices for silver, that's ~$3. The price of gas per gallon~$3. Our prices go up because our money is going down, not the other way around.
dlstb 4 months ago
1 job lost here is a job gained there when outsourcing occurs. There are two major differences though, in other countries, massive environmental degradation occurs to cut costs (dumping trash/pollutants in rivers, burning electrical components releasing toxic fumes into the air to recycle valuable metals, the burning of coal with no filters (thousands with pre-existing respiratory problems die) ). Also, workers over there have much fewer opportunities to find employment.
Thatmakessense356 6 months ago
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
gchuggins 6 months ago
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
gchuggins 6 months ago
Remember the old propaganda: "Look for the Union Label". Is it possible that union labor costs have significantly contributed outsourcing American jobs to foreigners?
gchuggins 6 months ago
All of this could be avoided, if the damn spoiled unions would shut their mouth.
ConRevolutionary 7 months ago
@ConRevolutionary prob is u got idiots like dobbs and unions who have no clue how capitalism works. they just want $, no interest in the process...
reg12269 7 months ago
@reg12269 Unions, destroyed GM, Chrysler, and about destroyed Ford. I hate those unions, man.
ConRevolutionary 7 months ago
I usually either agree with Stossel or at least see his point. This report makes me angry. HOW can sending ALL of America's manufacturing and Tech support jobs overseas to take advantage of their poorer standard of living be A GOOD THING??
Its a good thing if you're a capitalist Corporate fatcat interested only in profits.
Take the jobs from the middle and lower classes and send them oversees so the rich can get richer.
CH3Jason 8 months ago
@CH3Jason a lot of IT people are still layed off. few have gotten the good paying jobs. outsourcing does have the effect of making corporations richer but that doesn't mean they will create more jobs when they don't need to. outsourcing makes the rich richer and the poor poorer in the USA.
desiguy55 7 months ago
Lol all the idiots defending this shit.
mecher3k 8 months ago
You are taught in econ 101 that specializing in trade and lowering oppurtunity cost is the best way a country profits. Do these people never take these classes...Or are they just asleep. I had to literally teach my 11th grade teacher a few weeks ago why outsourcing is good.
adulby 8 months ago 2
@adulby Yeah, its great if you're a rich Corporate fatcat. Bad if you're a middle to lower class laborer.
CH3Jason 8 months ago
@adulby in sending our low wage jobs overseas, we have effectivly pulled the rug out of our low wage job earners. we need low wage jobs for people who are starting out or for people who needs second jobs or for those chronocly unemployed.
desiguy55 7 months ago
@desiguy55 outsourcing is a almost a direct result from the minimum wage laws. If you want to have low wage job earners have jobs in the first place you have to eliminate the minimum wage. You cant have high employment for the low wage groups and minimum wage at the same time. You have to choose. Labor unions are another incentive to find work outside the States. eliminate these two issues and your statement becomes relevant. otherwise you are asking for both.
adulby 7 months ago
@adulby true for some cases but not all the cases. i know of many companies who are laying off their well paid employees to open the same factories in another cheaper country. Reason 1 is the US government makes it easy due to NAFTA. Reason 2 their profit margins goes waay up. reason 3 let the foreign ppl take care of the nonunionized foreign workforce. reason 4, don't need to pay for health care , Fica, facilities in the US, and other costs. reason 5 their stockholders see huge returns.
desiguy55 7 months ago
Stossel is my hero!
adulby 8 months ago
Stossel for prez! This is the one issue I'm torn on ahhh it makes my head flaccid! And it makes my other head think so hard it explodes! Hmm I guess both verbs work for either. :0
TheFreezer872 10 months ago
@nfwvideo1 Of course you wouldn't see them. For something like that, you would have to look at statistics, which Stossel gives here.
Jotto999 11 months ago
@nfwvideo1 That assumes the work I do will get sent overseas. It won't. Even if somehow it did, so be it. Stossel would still be correct that there is nothing wrong with outsourcing.
Jotto999 11 months ago
I love John Stossel :-D
Jotto999 11 months ago
Dobbs owned!
H1TMANactual 11 months ago
God I want to strangle Lou Dobbs. What a jerk.
jrsub3 11 months ago
Seems those people at Levis were stuck in a rut. They are better off now. Esp. at their age, they should be changing to easier jobs.
ALucas73 1 year ago
1:31 - Nuff said
ThaOseias 1 year ago
@ThaOseias Being stupid is unamerican? Nuff said? How are we destroying the middle class? Only the government can do that!
AroundSun 11 months ago
The only reason why their labor is cheaper there, is because the cost of living in those countries is much lower than it is here.
Paying someone in India 3 bucks an hour would be the same as paying someone here minimum wage.
They just have different purchasing power, 20 bucks in china might be 100 bucks here, which is why you can pay them "less". So there really is no difference, China's wealth has grown exponentially ever since there free market approach.
101zulu 1 year ago 14
@101zulu those are fallacies, both Germany and Japan Both have trade Surpluses with China and both of those countries have higher wage rates and cost of living
krillin876 2 months ago
@101zulu- The only reason why their labor is cheaper there, is because the cost of living in those countries is much lower than it is here"
That would be patently false. There are many reasons why outsourcing is cheaper other than the "cost of living". Just a few reasons:
1. Countries with poor or no health care.
2. Using Child Labor
3. No environmental laws
4. Government subsidies (some do it far more than others)
Same purchasing power? Google "Nike sweatshop Indonesia"
CCRider100 1 month ago
@101zulu - China's wealth has grown exponentially ever since there free market approach"
That is because of China's vast production, they are what America was say 60-80 years ago, ie they made products for the world and consumed less per capita. Is it any wonder that today, China basically owns the US, if they called in their loans (which they would not do), the US would not be able to pay and would have to either default or go bankrupt,
CCRider100 1 month ago
@CCRider100 lmao you have no knowledge of economics whatsoever. "if they called in their loans...", their loans are called US treasury securities, which can't be "called in". the interest payments, redemption amount, and payment dates are set.
UltraProle21 4 weeks ago
@101zulu Your first argument that outstanding doesn't mean your paying "less" is inaccurate.
9750711 13 hours ago
its all about CHEAP LABOR! In other countries, peasants work for pennies a day. They do the work faster cheaper and better. If you want the jobs back, everyone should work for less than a dollar a day to compete with the Indians.
KripDrip 1 year ago
When you're old it;s harder to retrain
MaddDogg81 1 year ago
what a bunch of crap.... This is BullSh*t
MrKemskee 1 year ago
Usually I agree with John on most ideas, but this one is more complicated than this. The theory of comparative advantage where the one who can produce it at the least costs will benefit everyone with lower prices is true however it doesn't take into account national security issues such as when we stop making steel and motors and then have to import such items from a potentially hostile nation. Further it doesn't account for future industrial growth and power that a specific
THOMAS8845164 1 year ago
it's also funny how stossel sites the place is being turned into a college and you can watch his other video talking about what a rip off a bachelor's degree usually is.
MMZen 1 year ago
we used to have a 3 billion dollar trade surplus with mexico before nafta now because of corn dumping we have a roughly $40 billion trade deficite. and a huge loss of american factory jobs...free trade and outsorcing doesn't always work
MMZen 1 year ago
Unemployed resources simply need to move to where they are needed. That's basic economics in any country.
coolerdoncooper 1 year ago
Neo-cons say people need to sacrafice, lets sacrafice low prices for more americans getting work.
WorldAccording2ME 1 year ago
How about outsourcing labor jobs to the US inner cities at low wages? Oh wait... they are already getting FREE money from the tax payer because we have laws preventing low wages. Government is the problem as Ronald Reagan said.
Entropy56 1 year ago
Stossel: "Excuse me for being the garden at your skunk party."
Entropy56 1 year ago
@nfwvideo1 actually its all over the bible.
ORACLE063 1 year ago
Unions are partly to blame for the "outsourcing"... the free market dictates, not the workers. Simply put the workers are only a small percent of the market. The entire market (the FREE MARKET) is all of us intertwinded in a web. An area of the market says ill do that for cheaper and it will gravitate to that. Like anyone would. Dont blame others greed for your situation, blame your greediness that caused it, You wanted $22 an hour to do a menial task and now your gonna lose out.
ORACLE063 1 year ago
@ORACLE063 - Dont blame others greed for your situation, blame your greediness that caused it. You wanted $22 an hour to do a menial task and now your gonna lose out"
Funny you mention greed because Nike used that exact logic when they closed down their factory in one part of Asia (workers making 70 cents/hr) and moved it to another Asian country where they could pay the workers 27 cents per hour. Greedy fat bastards, how dare they want 2 bowls of rice per day, when one is enough.
CCRider100 1 month ago
Lou Dobbs is an idiot... without a doubt....
TheManiacalSatanist6 1 year ago
@TheManiacalSatanist6 I argue he's the worst of the media liberals.
Mostly because his show, or former show, is so boring.
Now he's going to be on FOX Business. Go figure, shocked FOX Business would touch him w/ a 100 foot pole.
jrsub3 11 months ago
Very nice compilation.
ashutoshgrewal 1 year ago
@nfwvideo1 America was better off when we had slavery.
DarrelfromZeeland 1 year ago
@DarrelfromZeeland no it wasnt. "All men are created equal" note it does not say: all white men, all american citizens, all wealthy land owners.... it says all men... they have rights and as a slave u have no rights. So your logic is flawed. Granted though the Civil War was bullshit and should not have taken place in a free society. By using force on the south the north was unjustified by the law of the land, the consititution. Thats that.
Ps the civil war was not fought for slavery
ORACLE063 1 year ago
@nfwvideo1 Why should I pay some American dumb fuck $20 an hour for a job that an Indian can do just as well or better for $1 an hour?
DarrelfromZeeland 1 year ago
@nfwvideo1 then you simply dont understand then
sming01 1 year ago
@nfwvideo1 the video already did that...
sming01 1 year ago
If poor countries can acquire more wealth this way, they will eventually have to invest it. Like building infrastructure, buying cars and computers. Technology advanced western countries can provide this, which will increase jobs in those sectors.
In the end, doesn't outsourcing and free markets makes the world a better place?
madass888 1 year ago
@madass888 Why are you the only one that gets it?
101zulu 1 year ago
John Stossel is such a smug bastard, let's outsource his job and see if he likes it so much. If you believe that outsourcing American jobs is good for the economy you're not paying attention. Let him go ask the workers who've lost their jobs to outsourcing if they would like the jobs back. I'm sick of Stossel spouting his anarcho-capitalist garbage. Outsourcing is good for the bottom line of companies that do it, not for the rest of us.
707hoser 1 year ago
lou dobbs doesn't have a clue
MrYJ99 1 year ago
if you think outsourcing is bad then you failed economics 101
sming01 1 year ago
@sming01 Anyone complaining about outsourcing can thank the unions, minimum wage, workmens' comp, social security, EPA, OSHA, and all other socialist labor and environmental laws and regulations and taxes to support the Marxist welfare state.
DarrelfromZeeland 1 year ago
Outsourcing will make America dependent not independent economically which is a long term threat to both national economic and defense security. Yes, Japan has factories in other countries but not to the point of hollowing out their economy's manufacturing sector w/c is always the key critical core of any national economy because they know that service jobs are just complementary-supplementary jobs, not replacement jobs because the service sector's inherent market is the manufacturing sector!
darthvader5300 1 year ago
As a Russian I will say that 20/20 did not do the necessary in-depth critical research analysis of the totality of all situations and circumstances concerning the problems created by outsourcing in it's whole entierty! Why is it that it takes an outsider like me, a Russian, to be able to see through the flaws of this news that concerns the problems of outsourcing while most Americans don't seem to see it through very deeply? What is wrong with you Americans? The problems are in front of you!
darthvader5300 1 year ago
The reason why outsourcing is being promoted is because Americans were and are still being dumbed down and educationally degraded deliberately by their own government run public school systems so as to artificially create a shortage of highly qualified and highly educated manpower labor pool needed to run American businesses & industries. & the same time the US government is creating economic policies that discourages insourcing stability by making it unprofitable to do business here like NAFTA
darthvader5300 1 year ago
Outsourcing will also directly and indirectly destroy our scientific, engineering, technological, and technical labor force w/c makes us dependent on outside sources for qualified manpower which is a long term security threat. And it discourages Americans from entering the scientific, engineering, technological, and industrial careers because outsourcing has damaged these fields' jobs availability and accessibility. It will destroy our pool of independent local labor force in these fields!
darthvader5300 1 year ago
Outsourcing will also create a second danger besides the direct and indirect loss of local American jobs. It's called patents violations, substandardized products, intellectual rights violations, defense problems caused by The Hacker in Your Hardware: The Next Security Threat, information records and files held hostage by someone else, etc and America has no control over such problems because they're outsourced overseas!
darthvader5300 1 year ago
Service jobs of the service sector of the service economy is dependent on the continued local existence of manufacturing. He said Americans does not want manufacturing jobs, if so then robotized those jobs just like what the Japanese did which in turn created local jobs in the ROBOTICS INDUSTRY & it's supporting computer industries and other support industries and encourage Americans to enter the new engineering field called MECHATRONICS w/c will give them addtional jobs, skills, & experiences.
darthvader5300 1 year ago
This has been flagged as spam show
Of what use is outsourcing when they turn their intended costumers into welfare recipients who can't afford cheap products and services? Cheap labor destroys labor's rights to a decent salary and benefits both here and abroad because people are fighting over the same number of jobs. The jobs being mentioned are service-based jobs that are not stable in the long term, the service sectors needs the market of the manufacturing sectors, if manufacturing goes overseas then so does the services!
darthvader5300 1 year ago
Of what use is outsourcing when they turn their intended costumers into welfare recipients who can't afford cheap products and services? Cheap labor destroys labor's rights to a decent salary and benefits both here and abroad because people are fighting over the same number of jobs. The jobs being mentioned are service-based jobs that are not stable in the long term, the service sectors needs the market of the local manufacturing sectors, if manufacturing goes overseas then so does the services!
darthvader5300 1 year ago
John Stossel is correct, he uses a lot of arguments that Economist use. Though he does seem to manipulate some of the information in this segment, His overall message is right Out sourcing creates jobs and makes products cheaper for us to buy.
nagasnharpes 1 year ago
more jobs were created,, but stossel does leave out what the pay is,,,,, minimum wage vs 15-40 an hour is a big difference
facts can be made to fit any agenda,,,,, and i like stossel,,, but can see how he's fitting facts to make it go his way
he says "many" got better jobs,,, give me a concrete number,,, becasue without hard numbers it could be,,"many got better jobs, but most did not
shortywarn 1 year ago
when william harding was president he included a higher tariff in his economic policy and restricted immigration and unemployment went from 12% to 2% in one year.
electricguitarplayr 1 year ago
@electricguitarplayr Hi there, you should focus on playing the guitar and getting food stamps because you're useless as an historian.
William Harding took over as president in a post-war depression, he CUT TAXES(which is essentially making the market more free) and reduced the national debt.
You see, "tariff" means taxing something to the point it's almost nullified in the economy, and CUTTING TAXES means lowering the taxes on something so its value in the economy rises. Have a nice day :)
fr0ber 1 year ago
so if lowering taxes is so good, why not lower it all the way down to zero?
KripDrip 1 year ago
@KripDrip Don't know what my comment was here but: Because you need taxes to fund judiciary systems, create laws, secure your borders & enforce your laws.
fr0ber 1 year ago
This has been flagged as spam show
@KripDrip - so if lowering taxes is so good, why not lower it all the way down to zero?"
That comment is what you call; a "Stoffelism"
CCRider100 1 month ago
FUNNY - Stossel says at around 3:18 an incorrect phrase, it may have been intentional: "sorry to be the garden at your skunk party". Wouldn't the skunk be at the garden party? LOL
decimated550 1 year ago
Protectionism = Economic tribalism
fermista 1 year ago
Those who say that we somehow have a greater right to "our" jobs than other people are discriminating against those other people based on their nation of choice.
DavidUmstattd 2 years ago
@DavidUmstattd We absolutely have every right to "discriminate" against failed nation-states that destroy jobs and free enterprise by encouraging socialist wealth redistribution and overpopulation and resource depletion and whose only export is the forced labor of their impoverished victims of these failed government policies. The only alternative is to either drag us down to their level, or to waste more of our resources acting as police for the rest of the world.
benjamindees 1 year ago 3
John Stossel and his reports would make any straight man think twice about switching teams.
longlivecrow 2 years ago
The idea is to export america instead of getting america in America.
Empire building at its worst.
inachu 2 years ago
This comment has received too many negative votes show
Ah, stossel the meat-head. Keep it up you ignorant dick.
hhiippiittyy 2 years ago
good thing you use facts hhiippiittyy
sming01 2 years ago
good thing mr. stossel cant properly contextualize facts and thinks that anecdotes somehow equal proofs of much grander realities
hhiippiittyy 2 years ago
He does what most journalists does, showing anecdotes and a few statistics to illustrates his points in a 5 minutes block. He also provide an explanations and arguments to his points like an editorialist does. You may not agree with his views but he is none the less doing a good job. He is hired as a journalist/editorialist, not as a statistician.
anarkoFred 1 year ago
@anarkoFred He's pushing a libertarian perspective, and one that would be perfectly legitimate if presented with the proper context without making it a glib propaganda piece. His example of the company that expands by exporting good jobs is simply outrageous. He argues that lower prices make up for unemployment. He uses doctored graphs with contrived axes. He fails to account for immigration and population growth. Overall this is one of Stossel's absolute worst segments.
benjamindees 1 year ago 2
@benjamindees i agree,,,,, again he made the facts fit his agenda,,,, and most sheep probably bought it
and usually i like stossel,,, but this was pure propoganda
ron paul 2012
shortywarn 1 year ago
@benjamindees i agree -- stossels worst segment,,,,, again he made the facts fit his agenda,,,, and most sheep probably bought it
and usually i like stossel,,, but this was pure propoganda
ron paul 2012
shortywarn 1 year ago
Soon, we'll be making stuff for the Chinese while they consume.
Tasadaru 2 years ago 14
That would actually be a good thing for your country as for Europe. We need production not consumption.
grumpone 2 years ago 2
Aye.
Tasadaru 2 years ago
well look at China they are now importing cheap labor from North Korea and Mongolia what is Dobb's explanation. Even Mexico import Cheap labor but its from Honduras. look India , China, USA, and japan outsource call centers to the Philippines.
Dook6 2 years ago
@Tasadaru Hey, atleast unemployment will be down
dksilentbob 7 months ago
outsourcing is only godd when its done with moderation
electricguitarplayr 2 years ago
i meant to say good
electricguitarplayr 2 years ago
Moderation to you is not enough or excess to others. Whatever a company wants to do is their choice. If you don't like what they are doing, don't patronise that company, simple as that. I
f most people feel like you do then the company will either go bust, or it will change its course and survive. Make your own choices, don't force others to do the same.
grumpone 2 years ago
spoken like a true libertarian...and thank you for saying that!
hellofaname 2 years ago
wow this is great
wtfmain 2 years ago