December 18th, 2009
It was reported in the late morning news a couple of days ago (KTLA morning news on 12/16, I believe it was), that Vice President Joe Biden was going to meet with the leaders of manufacturing (I’ll call them the “majors of manufacturing” as opposed to the phrase: “captains of industry”) to see if the manufacturing sector could get itself composed enough to start hiring workers again.
Irv Homer, a talk-radio show host on Philadelphia talk-radio 96.5 FM, a station that is now defunct, often would speak of laws that were passed back in the seventies allowing the U.S. Government to insure U.S. manufacturers and related entities against risks incurred in any overseas ventures. Though I have yet to research and verify the existence of any such laws that insured those overseas U.S. corporate ventures, I have no reason to doubt the words of the nearly infamous [and recently deceased] Mr. Irv ("Evil Irv") Homer. http://www.irvhomer.com/
So I wonder, will Vice President Biden look to address any laws that made it so enticing for U.S. manufacturers to take their operations overseas? Obviously, it is cheaper for the majors of manufacturing to operate in countries that typically offer slave-wages to its people and countries that care not of polluting the earth. (Did you happen to see the dense smog in Bejing China during the last Olympics?) Maybe its time, if such a situation and law exist, that the U.S. Government stop financing [or at a minimum stop insuring] the U.S. firms and the exportation of American jobs to off-shore locations. It makes no sense that Americans should fund the exportation of the nation's jobs.
PS. Remembering Mr. Irv Homer: