Thread: Fed: Outsourcing helps U.S. economy

http://www.upi.com/NewsTrack/view.php?S ... 3253-9802r

Fed: Outsourcing helps U.S. economy


DALLAS, Feb. 27 (UPI) -- A senior economist at the Dallas Federal Reserve Monday said in the long run, offshore outsourcing results in overall economic gains.

Thomas F. Siems, in a newly released paper, says lower consumer prices, better products and higher productivity growth are among benefits of outsourcing to other nations.

Siems acknowledges although offshore outsourcing can negatively impact jobs and wages for some workers, it is better for the economy to accept the challenge of competition and resist the temptation of protectionism.

"Indeed, the secret to faster growth and greater prosperity lies in allowing individuals and businesses to do what they do best -- and outsource the rest," he says.

Globalization doesn't just mean increased competition; it opens opportunities for cooperation, says Siems. Through global outsourcing, companies become more dynamic.

© Copyright 2006 United Press International, Inc. All Rights Reserved

Globalization doesn't just mean increased competition; it opens opportunities for cooperation, says Siems. Through global outsourcing, companies become more dynamic.

Yes it opens opportunity for governments like Communist China to take over our manufacturing, our wealth and to buy our debt so that they control our economy.

It gives opportunities to Dubai so when they do a favor for a relative of the President, they can control 21 of our ports.

It gives Arab countries the ability to control our oil prices and decide on how much of our money they want to suck out of our economy.

It gives IT workers in the Ukraine and India a backdoor into the US through Visas to take jobs from Americans.

I could go on and on and on.

Depends upon one's point of view, I suppose.

The elite class is doing very very well.

The commoners?

Well, the elites need bodies to bleed overseas.

But... "they" DO volunteer, you know.

So, their sacrifice is their own fault.

They should have been born into the "right" family.

Or, should have been a sports star, a high-paid entertainer.

That French gal said "Let them eat cake."

She lost her head over that one. Litterally.

Thomas F. Siems, in a newly released paper, says lower consumer prices, better products and higher productivity growth are among benefits of outsourcing to other nations.

Siems acknowledges although offshore outsourcing can negatively impact jobs and wages for some workers, it is better for the economy to accept the challenge of competition and resist the temptation of protectionism.

This guy is a real a hole, better products my foot...I have never see such cheap junk as we are now getting from China.

Tell me please, when many do not have jobs or can barely make it on two low paying jobs. Who is going to be able to afford to buy this junk.

I would rather be a protectionist and pay a little more for my purchases, Thank You.

Thomas F. Siems, in a newly released paper, says lower consumer prices, better products and higher productivity growth are among benefits of outsourcing to other nations.

His is one job I wouldn't mind seeing outsourced.

Another globalist Bush hack that sold his soul for profit.