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CWA NEWS
What are you going to do with your share of the “Economic Stimulus” cash? By Steve Kunysz Since the announcement of the “stimulus package” we will be receiving, I have wondered just what would be the best thing to do with the money. After all, isn’t it supposed to help stimulate the economy of the United States? I have talked to a lot of people about what their plans are for the cash and the answers are usually pay down debt, put it in savings, or the biggie right now…buy a flat screen TV. I asked my financial advisor if there was a good American company to invest in, or perhaps a mutual fund. My only requirements were that the companies manufacture only here in the U.S.A. and employs only in America. He said he would get something together in a day or two. He sent the following e-mail: Sorry I am late emailing this to you. The bottom line is that I “googled” away and found it tough to find US companies that manufacture their products in the US, employ only in the US and benefit's the US economy. One only need to type in "US stocks that benefit the US economy" and immediately get dozens of stocks that benefit from a falling dollar which I believe is the opposite thing we are looking for. The second most popular item that pops up is the number of articles recommending companies as a play/investment in China. The bottom line is that the world economy is growing much faster than our domestic market at our own peril of buying cheaper goods and lower labor. The following shows the breakdown of our percentage of world GDP [Gross Domestic Product] and although we are the biggest in size we are importing more [and] exporting less and we are paying a price for it. The following gives a breakdown of the US economy over the last ten years:
1995 42.6
1996
41.7
1997
41.9
1998 42.2
1999
40.7
When I think of American companies the first one that comes to mind is General Electric GE:NYSE. When I looked at GE's recent earning report I noticed that 50% of their earning and revenues came from outside the United States. According to their CEO earning and future growth would come from outside the United States. The bottom line - I need more time to investigate pure American investments because everyone is focusing on growth without realizing the long-term costs to our great nation. I will follow-up with more information to you shortly. Thanks! Darin S. Miller, Senior Vice President Please take the time to read it again. Then realize that it was written by a man who is in the investment business and has been for years; someone who, for the last ten years or so, has had to listen to my complaining about the loss of American jobs and the effect it will have on this country. “Everyone is focusing on growth without realizing the long-term costs to our great nation”. Think about that before buying the TV made in China.
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