Originally Posted by
uncle matt
I think my point went way over your head. You do not have a choice. Look at something like a TV or a microwave. You have NO CHOICE BUT TO BUY (AND SUPPORT) A FOREIGN COMPANY (i.e. country). And it is pretty much ditto with everything from your socks to your toothbrush. Other countries dump it all here. What do they buy from us?
It's upside down just like most peoples home value vs. mortgage right now, car loans etc...
But it'll be alright. We can just print up some more money or borrow some more from China.
It wasn't the foreign countries that invented the microwave, automobile, personal computer, television, etc...It was America. We are too smart to manufacture these items. Thats just the way it is. The best use of American knowledge is to innovate, not manufacture. Made in China doesn't mean a chinese company. Lands End, LL Bean, Orvis, etc all rely on foreign labor to produce goods. And its ok. Even Filson has foreign made items. But, if its economically feasible it works.
Look at Fender guitars, you can't get more American than that...American made Stratocaster costs about $1,200. Mexican made costs around $500. Parts are almost identical, little better finish on a few of the American model, but that's about it.
Empowering developing countries increases demand on American products. Which equals $in our pockets..
As for being upside down on mortgages, you can thank the govt, banks, and realtors for deregulation and over speculation...