Greenspan Warns Against 'protectionist Cures' to Deal With U.S. Job Losses

[rodbarnett]

WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan warned on Friday that "protectionist cures" being advanced to deal with the country's job insecurities would make the situation worse.
Entering the politically charged debate over U.S. service jobs being shipped overseas, Greenspan said that it was a lack of adequate educational training rather "outsourcing" which posed the greatest threat to future American prosperity.

Greenspan, speaking to the annual meeting of the Omaha Chamber of Commerce, said that it was not surprising that there was a high level of job insecurity in the country at present when more than 2 million people in the work force have been unemployed for more than a year.

He predicted, as he did in congressional testimony last week, that the strengthening economy should lead to stronger employment growth in the months ahead.

We have reason to be confident that new jobs will displace old ones as they always have," Greenspan said, "but America's job-turnover process is never without pain for those in the job-losing portion."

http://ap.tbo.com/ap/breaking/MGAKBXGNWQD.html

comment : Burger King and Whataburger are hiring

[barbaraann]

1. Outsource Greenspan.

NOW.

[mhr]

2. Excuse Me Mr. Greespan, Are You Out Of A Job, Hello!

eom

[stepnw1f]

3. Cold Calculating Figures

Even if the man was right, how many people must suffer, and for how long? Another moral issue.

[sadiesworld]

4. I say more protectionism...

Protect jobs, protect the middle class, protect the environment, protect the constitution.

[ixion]

5. Lack of training?

This guy has lost his marbles. :crazy:

[Sagan]

6. Greenspan warns: "We're SO close to being Mexico! Don't stop now!"

The soulless Mr. Greenspan, ladies and gents.

[Frances]

7. Well said

Bush and Gang want the U.S. to be the mirror image of Mexico

[Sandpiper]

8. Greenspan and Wall Street Cheer

Hey! Ho! C-E-O! Move those jobs to Mexico!

[mobuto]

9. Greenspan's right, but

he's still a clown. Fire him.

I'm also not sure what he means by protectionism. If he's talking about subsidies or tariffs, then yes he's right. If he's talking about incentives for American companies to keep jobs in the US, then he's wrong.

[kodi]

10. meanwhile bush underfunds efforts to ensure trade agreement enforcement

we can't have protectionism, but then again we can't have free trade agreement enforcement either?

[Fargin Ice Hole]

11. exactly......Walmart is accepting applications.......

I mean really just where do these people think jobs are going to be created? The only reason the last 20 did so well was due to technology and telecomunications that were spawned from technology. Well I hate to say it but that boom is bust, so you guys better go back to nevada and pull some other piece of equiptment out from one of those space ships and start marketing it again.

[Thor_MN]

12. His solution to the problem, as he told Congress last week,

is to do a better job of educating American workers.

Yes, tell us honestly to lower our expectations. Show us the conditions in Third World countries and tell us to expect something in between that and what we have. Globalization is, in essence, averaging conditions worldwide. Those that don't have will have more, those that have will have less, with the exception of those that hold the reins. The GOP wants to continue skimming off the top and is no longer satisfied with what the US can provide. There aren't enough mergers left to satisfy their lust for more, so they look to take over all companies, worldwide.

It's no wonder that the reich wingers hate France so much, the French came up with a solution when the aristocracy got out of hand. Maybe they should be worrying their empty little heads, the next Dr Joseph Guillotine may be just around the corner.

Maybe a mass protest on July 14th would be an appropriate way to inform * the unelected that his time is near..."

[teryang]

13. His arguments don't even merit rebuttal

Many of those who have lost their jobs are highly educated.

Many of those getting back into the workforce are hired at much lower wages in spite of their extensive training.

The middle class, including the college educated and technically proficient are taking a terrible beating. America is about status now, not merit, not training, not hard work, not study, not skill. He who has the most cash, rules.

His arguments are so simplistic and disingenuous, how can he expect to be taken seriously? It's Adam Smith versus the labor theory of capitalism. Get real. He's either getting Alzheimers or gone the Colin Powell route. This is the economic equivalant of the colin powell speech to the UN proving Iraq had WMDs as "a matter of fact."

Let's face it, he's too old for the job.

[dax]

14. Free public education for ALL-Greenspan wants to pay for our college!!!

On that one point I could "agree with him-if he means the government would make advanced educational training available to everyone regardless of income or job or any other status to devide us. (This was a joke) Of course they don't seem to want to make those good CEO jobs with excellant bailout benefits available to us...I need to get me one of those!

[camero]

15. The answer

Tax the shit out of the companies that outsource. That'll put a stop to the practice real quick.

[CHIMO]

16. For A

Faster response move the CEO jobs there.

[camero]

17. and sieze thier assets before they go.

:)