My finance professor says that we need the war because it creates jobs

which war?Luncbox1

There are lots of other activites that can create jobs as well. War does not help you if it's your country being destroyed. That actually ruins economies.sonicare

It's cause America has such a faulty economic system, you guys depend on the military industrial complex.Toriko42

Your professor has no concern for human life? munu9

[QUOTE="Toriko42"]It's cause America has such a faulty economic system, you guys depend on the military industrial complex.SpaceMoose

[QUOTE="munu9"]Your professor has no concern for human life? Toriko42

[QUOTE="SpaceMoose"][QUOTE="Toriko42"]It's cause America has such a faulty economic system, you guys depend on the military industrial complex.Toriko42

[QUOTE="Toriko42"]It's cause America has such a faulty economic system, you guys depend on the military industrial complex.SpaceMoose

[QUOTE="Toriko42"][QUOTE="SpaceMoose"] We do have a faulty economic system. It's called "Import everything because American based companies operating under American work laws cannot compete on price with cheap overseas labor." It's hard to find much of anything that's actually manufactured in the U.S. anymore, unless it's either something big, a consumable product, or something that is not mass produced. I'm sure that the United States is not the only country this applies to though.SpaceMoose

[QUOTE="SpaceMoose"]

[QUOTE="Toriko42"]It's cause America has such a faulty economic system, you guys depend on the military industrial complex.hokies1313

[QUOTE="SpaceMoose"]

[QUOTE="Toriko42"]It's cause America has such a faulty economic system, you guys depend on the military industrial complex.hokies1313

It's cause America has such a faulty economic system, you guys depend on the military industrial complex.Toriko42

Well, we can't have it both ways. If we have all these regulations then we cannot be importing stuff from companies that don't. It clearly doesn't work.SpaceMoose

Deregulation is what got you into this recession, it's the last thing America needs.Toriko42

[QUOTE="hokies1313"][QUOTE="SpaceMoose"] We do have a faulty economic system. It's called, "Import everything because American based companies operating under American work laws cannot compete on price with cheap overseas labor." It's hard to find much of anything that's actually manufactured in the U.S. anymore, unless it's either something big, a consumable product, or something that is not mass produced. I'm sure that the United States is not the only country this applies to though.

MoonMarvel

[QUOTE="hokies1313"][QUOTE="SpaceMoose"] We do have a faulty economic system. It's called, "Import everything because American based companies operating under American work laws cannot compete on price with cheap overseas labor." It's hard to find much of anything that's actually manufactured in the U.S. anymore, unless it's either something big, a consumable product, or something that is not mass produced. I'm sure that the United States is not the only country this applies to though.Toriko42

Deregulation is what got you into this recession, it's the last thing America needs.Toriko42

[QUOTE="Toriko42"]Deregulation is what got you into this recession, it's the last thing America needs.SpaceMoose

[QUOTE="MoonMarvel"][QUOTE="hokies1313"] Because there are too many restrictions placed on American companies and we have gotten away from Free Market Capitalism and Objectivism.Toriko42

[QUOTE="Toriko42"][QUOTE="hokies1313"] Because there are too many restrictions placed on American companies and we have gotten away from Free Market Capitalism and Objectivism.MoonMarvel

[QUOTE="Toriko42"]Deregulation is what got you into this recession, it's the last thing America needs.hokies1313

Care to explain? And how are our illogical tax rates a good thing?MoonMarvel

[QUOTE="MoonMarvel"][QUOTE="Toriko42"] Deregulation is what got you into this recession, it's the last thing America needs.Toriko42

[QUOTE="hokies1313"][QUOTE="Toriko42"]Deregulation is what got you into this recession, it's the last thing America needs.MoonMarvel

[QUOTE="MoonMarvel"] Care to explain? And how are our illogical tax rates a good thing?Toriko42

Deregulating the banks to allow them to give out subprime mortages. It's just like buying on credit before the great depression. It offset the business cycle and ruined everything. In Canada we regulate our banks and they are the most secure in the world. America's on the other hand....Toriko42

Okay, that's a different matter entirely. That's not what we were talking about. Take minimum wage as a simple example. I don't have any problem with there being a minimum wage. Just let me be clear on that first of all, but it's meaningless to have a minimum wage if a company cannot compete on price using workers in the U.S. and then goes and pays people overseas less than the U.S. minimum wage to do it anyway.

It's virtually impossible to buy electronics that weren't made in China. Really, it's virtually impossible to buy a lot of things that weren't made in China. Why is that? Because companies can pay assemblers over there less money, so much so that it still costs them less even figuring in overseas shipping costs. Now, it's not only the case that they can. They basically have to if they want to stay in business since they are competing with other companies who do just that.

High corporate tax rates and greedy unions.MoonMarvel

[QUOTE="MoonMarvel"][QUOTE="hokies1313"] Deregulation of banks go us into this recession, not deregulation of American businesses, big difference. I'd advocate better oversight on banks and people who take out loans and less regulations for American companies that are trying to produce goods at competitive rates.hokies1313

[QUOTE="Toriko42"] Deregulating the banks to allow them to give out subprime mortages. It's just like buying on credit before the great depression. It offset the business cycle and ruined everything. In Canada we regulate our banks and they are the most secure in the world. America's on the other hand....SpaceMoose

[QUOTE="hokies1313"][QUOTE="MoonMarvel"] And who is the head of congresses banking committe who is supposed to oversee those banks?MoonMarvel

[QUOTE="MoonMarvel"]High corporate tax rates and greedy unions.duxup

[QUOTE="duxup"][QUOTE="MoonMarvel"]High corporate tax rates and greedy unions.MoonMarvel

[QUOTE="MoonMarvel"][QUOTE="hokies1313"] The Federal Reserve is suppose to oversee banking. Unfortunately the Federal Reserve does not answer to the President or Congress.hokies1313

[QUOTE="hokies1313"][QUOTE="MoonMarvel"] Um, its the United States House Committee on Financial Services it oversees the entire financial services industry. Barney Frank is the chair.MoonMarvel

Here, I grabbed this from my American Government notes:

oMonetary Policy

§Federal Reserve

·How money is used, borrowed, and traded

·Manipulate the "Overnight Rate"

oBanks borrow a lot of money from other banks

oThey pay interest on that money

oIf the rates are cheap the money will continue to flow and more is made available

oIf money is more expensive to borrow, less will be available

oTrying to bring interest down on home loans right now

·Policies haven't worked all that well

oRates have no fallen

·Board of Governors are professional economists

oAppointed by President

oConfirmed by Congress

oDo not report to either

oLed by Ben Bernanke

§Chairman of the Federal Reserve

§Can meet with President, but they cannot tell him what to do

[QUOTE="MoonMarvel"][QUOTE="duxup"] The corprate taxes look high on paper, except nobody pays that rate. It isn't a problem.duxup

[QUOTE="duxup"][QUOTE="MoonMarvel"] Right. Except Obama is going to close any loopholes and make them pay it and then raise the rate on top of it. He said this multiple times. It's a problem.MoonMarvel

Oh, and we should give bonuses to foreign companies that create jobs in the United States, such as asian car companies that have planets in the U.S. We need to encourage that.hokies1313

[QUOTE="MoonMarvel"][QUOTE="hokies1313"] Who sets all the rules and regulations for banks? Fed Reserve. Trust me. It is why you see Bernake on the TV in front of congress. Financial services covers a whole lot more than banks, like stock market, that sort of deal.hokies1313

The United States House Committee on Financial Services (or House Banking Committee) oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators. It is chaired by Barney Frank (D-MA) and the ranking Republican is Spencer Bachus (R-AL).

Thats where I got it.