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GE's Jeff Immelt: Prepare For 25 Years Of Slow Or No Growth in the U.S.

According to a Reuters story quoting the head of GE, Jeff Immelt, the US will not be where GE makes their money over the next quarter-century, it will of course be China as they establish a middle-class throughout their country. Meanwhile, our dollar tanks, our elderly strap our nation's resources and our population shrinks. Nice way to start the morning...

From the Reuters article:

Immelt said the United States and the enormous buying power of U.S. consumers will not be enough to drive earnings growth for big U.S. businesses in the decades ahead. "The American consumer will always be important. But for the next 25 years, it's probably not going to be the engine of global growth," Immelt said. "It's going to be the billion people joining the middle class in Asia, it's going to be what the resource-rich countries do with their newfound wealth."

Link: http://in.finance.yahoo.com/news/GE-CEO-says-equal-access-re...

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BMWJIM's picture

We are ,Our great, great grandparents and here is why.

Think local, buy local and with our (DP) community we can start over.

I know where to send seed, veggies, or anything else I may have to sell. All I have to do is come to the Daily Paul.

The problem is corporate interest, just like GE.

1976-1982 USMC, Having my hands in the soil keeps me from soiling my hands on useless politicians.

Keep this one bumped.

Keep this one bumped.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

It would be great if we could

It would be great if we could start collecting ideas from leaders in the business community that we could sign and forward to our "elected representatives", and even to Immelt. Influence the influencers, so to speak.

where'd 15,000,000 jobs go?

That was the tag line on the National Journal article, where the top economists confide they cannot explain why 2001 was really the "jobless recovery."

http://www.nationaljournal.com/member/magazine/what-happened...

My comment was as follows:

"Maybe Apple's greed is to blame." There's no maybe about it. Trends in corporate business since the late 90s shifted away from reinvestment in the workforce and infrastructure to corporate profits. Worship of stock performance took place at that time, which explains why upperclass net worth tripled between 2000 and 2008 while the middle and lower classes stagnated. Its not the fault of policy or tax rates but an attitude change from the biggest intl corporations down to the smaller employers.

"More from less" has been the watchword since 2001. But this shortsighted approach will kill business prospects for a very long time! The corporations took their profits too early, and they are losing out big on growth and opportunity in the future.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Do you understand how business works?

It is the responsibility of a corporation to deliver a profit to their shareholders, sometimes the corporation is private, so that would mean they only have a responsibility to themselves. No one is owed or guaranteed a job, and "greed" has nothing to do with it. If a person thinks they can do better, they either start their own business, or go work for someone else.

Greed does have to do with it

Greed does have everything to do with it! I understand the simplest fable of them all: The goose that laid the golden eggs.

Same with 21st century corporations. They've slain the American goose by taking profits NOW and investing in paper derivatives and the T-bill carry trade rather than in their golden egg-producing workforce and infrastructure.

Read Pat Buchanan's obituaty of Roger Milliken for more information on how to do business the American way: http://buchanan.org/blog/requiem-for-a-patriot-4589

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Corporations must demonstrate

Corporations must demonstrate profits on a quarterly basis.

Are you "greedy" for delivering value to remain employed at a company that you claim is greedy?

So what's "value" mean?

You're infested with the mindset that's gotten us in this mess in the first place: The next quarter means more than the next decade, everything else be damned. The worst part is, this so-called "value" isn't real. The stock market has never been more fake than now, and demands to prove higher and higher profits to keep the bubble inflated are scarcely stable.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Correct me if I'm wrong, but

Correct me if I'm wrong, but your arguments seem to be anti-capitalistic. Please clarify. Do you believe in a competitive free market (even if that is technically NOT what we have right now).

The game is rigged

Its a nice concept, one based on honesty, trustworthiness, and competition. But those must be business values from a bygone era, such as when cavemen traded axes for bowls.

The more I study the processes that led us to our new Great Depression, the more I'm convinced that free-market capitalism is a buzz word, a terrible lie fed to conservatives/libertarians to repeat anytime big money and big corporate interests rig markets, manipulate commodities, and lobby their way to trillions of dollars in giveaways.

NAFTA and WTO are perfect examples. Somehow, before these two instruments came into existence, America exceeded all other nations in wealth production. Since that time, we've sunk very low indeed.

I'm looking more into NAFTA's devastating consequences as we speak. Above the Rio Grande, we've seen manufacturing states bled white as opportunities fled to Mexico. At the same time, our $100 BILLION Agricultural appropriations have sent a tidal wave of cheap corn south of the Rio Grande, ruining small farmers. These men have turned to drug gangs for survival, and that's lead to mass murder and chaos in Mexico not seen since the days of Pancho Villa.

In between several million well-paid blue collar workers being given pink slips and millions of peasants facing starvation are a handful of International Super Agro-corporations and bigbox retailers with an army of sumptuously paid lobbyists ready to do battlewith lawmakers over tables of foie gras and Dom Perignon. The objective? Billions and billions of dollars that will never reach the pockets of the middle and lower classes.

I grant that NAFTA/WTO are not the singular reason for our decline, but prime evidence of a real shift from wealth creation to profit taking as a business model.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Do you own / run a business,

Do you own / run a business, or do you work for someone?

The $200 Hamburger: Raj Patel, The Value of Nothing-

http://www.youtube.com/watch?v=oagmlbhobnY&feature=fvw
3 minutes, 59 seconds video

Guide for discussion leaders ...
http://www.sierraclub.org/truecostoffood/leaders.asp#faq

And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”

.

2010's most sued company in America announces it will do less business in America

I suppose the cost of

I suppose the cost of lawsuits would be just one more factor that makes the US unattractive for growth. Good point.

He is speaking the truth

As long as the American worker is obligated to make good on Odious Debt, there will be nothing left to grow the economy with. The debt holders will benefit, but our economy will stagnate or decline as we try to pay off what the elite leaders have committed us to.

Definition of Odious Debt:
http://en.wikipedia.org/wiki/Odious_debt

What a laugh

GE's Jeff Immelt: Prepare For 25 Years Of Slow Or No Growth in the U.S
-----------------------
That's the fault of YOU and your liberal policies, Keynesian economics have proved to fail again and again but you tools don't learn from fact or history do you?

In times of universal deceit, telling the truth is a revolutionary act...
George Orwell

"YOU and your liberal policies"?

And you are addressing......?

Obama Taps Immelt To Replace Volcker!

Break me off a piece o' that Kit-Kat news!

Immelt now set to replace Paul Volcker:
http://www.nytimes.com/2011/01/21/business/economy/21volcker...

What is Obama's strategy? Act like he's George Bush in hopes of fooling the economy? Start an Adopt-an-Executive program to woo over his biggest detractors? Disappear into the background noise in hopes people won't remember what happened the first two years... when he hung out with Democrats?

Some of the biggest fortunes

Some of the biggest fortunes were made during the slow times. Companies like Avon were created by regular people during the great depression... Now Avon is a multi Billion dollar company.

We're tapped out!

Looks like the central bankers will have to head to Asia to find more people, couple a billion, to exploit them through their ability to 'expand' credit. They won't be happy 'til everyone is drowned in debt. Pretty sad scenario.

Well that depends

Lot of people are predicting a massive alternative energy breakthrough this year. Speaking from personal experience I have followed the AE/free energy movement for ten years or better now and new revelations are popping up MUCH faster than they were even last year or even 6 months ago. I honestly think something is on the cusp.

If and or when it does there will be a titanic shift if the way the world works. In a years time after such a development the world would be very different than it is today.

Free energy or nearly free energy changes the rules of the game entirely which is why they have been fighting it since the 1940s or before even then.

The Abuse of Greatness is when it disjoins remorse from power. - Shakespeare

Gerald Celente predicts energy innovation

It was Gerald Celente forecasting "game-changing" progress in energy innovation, and not in the so-called "Green" sector.

To my mind comes that story from 6 months back, about a desperate inventor who lost his job and wife pursuing an improvement to electrical motors. Finally he unveiled a simple motor that, when charge is applied, increases in speed to such an extentit always flew apart.

Some called it a violation of the law of conservation, while more sober physicists suggest its simply a more efficient device. Whatever happens, his dogged pursuer of innovation may have discovered a "Game-changer" in how much energy we need to get from A to B. His improvments may just get us to the thousand miles on a single charge electric vehicle, and none too soon as global oil production falters.

Wish I could remember the man's name!!

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Who is predicting this? I

Who is predicting this? I think the reason there is more chatter on alternative energy is because that's where this season's misallocated funds from the government has been heading.

+1 none of the "free energy"

+1

none of the "free energy" stuff I've looked to seems likely to work under current known physics laws.

“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato

Correct

There is no such thing as a free lunch... even one you pick out of the dumpster.

I don't think so. this would

I don't think so. this would only happen if these dolts kept the ponzi sceme going. I see this thing totally collapsing and then coming back.

ecorob's picture

just like japan of the last 20 years...

no difference!

if you still have a job, great!

if not, it will be tough...too many workers, not enough work!

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Perfect time to start your

Perfect time to start your own business though and hire other people!

You are right about that.

You are right about that. More opportunities available to enterprising people than possibly any time in history. The entire world is your potential oyster.

You mean growth can't last forever??

Doesn't the planet get bigger every year? Why is our system based on continual growth? Are we bees over here?