A Quote by Evan Davis
When a population saves a lot, the funds are invested outside the country as well as inside. If the Japanese invest in the United States, it pushes their exchange rate down and makes their manufacturing more competitive.
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If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Canada, the United States and Mexico, we developed these energy reserves that we have in this North American region. And you can see a not only driving down the cost of electricity but a major manufacturing boom in this country. Couple that with tax policy, reduction, reducing the corporate tax rate, and that I think a renaissance in manufacturing like we've never seen in this country and really drive the economy.
The rate of growth of the relevant population is much greater than the rate of growth in funds, though funds have gone up very nicely. But we have been producing students at a rapid rate; they're competing for funds and therefore they're more frustrated. I think there's a certain sense of weariness in the intellectual realm, it's not in any way peculiar to economics, it's a general proposition.
Facebook has more than 1 billion members, which by population makes it the third largest country in the world—somewhere between India and the United States. Who’s sending missionaries to that country? Who’s planting churches there?
Perhaps the country's most pressing problem is its high uninsured rate. Every other country as wealthy as the United States has figured out how to cover its entire population, generally at a much lower cost, too.
Never mind that from the 1600s until the late twentieth century the population the United States was 85% white, 12% black, and there have been changes demographically in the United States since the days of its founding. So they're trying to tell you that the United States' greatness happened because of diversity. Well, go back and look at the days the country was founded, and they do. When they do that, they see how racist and bigoted this country was. they see the seeds for bigotry and racism and discrimination were sown at the founding, is how it's now taught.
Unlike in the 1980s and 1990s, this time the Japanese are going to be more circumspect and invest in their end markets, which would include Europe and the United States.
The people of the United States don't recognize it, but the oil industry has given the greatest gift to the people of the nation, and that gift is the low cost of energy. Bottom line is this enables the country to be very competitive manufacturing-wise and in the world economy.
The American Dream has really good PR. It's kind of difficult to live in the United States and not on some level be pulled into the allure of the American Dream. It's in the DNA of the country. So, for a population coming out of slavery, desperate to become part of the full life of the United States, it only makes sense that they would embrace this route to the American Dream.
Look at Germany where 20 percent of the labor force is in manufacturing compared to about 8 percent in the United States. Germany pays a lot more conscious attention at the level of the federal government to attracting and keeping manufacturers in Germany. So this is something that other countries do that the United States has not historically done.
Viewing that complex relationship one-sidedly from the aspect of manufacturing and the impact of Chinese imports on the United States makes sense from the point of view of the Rust Belt of the United States. It may even make sense as a political strategy for a candidate running for office.
The rate of population growth in the United States is slightly below that required to reproduce itself.
Why is Caterpillar bad if we create a new job in India or China to receive U.S. exports? It makes no sense to me. We want to drive all the exports we can from the United States. We want to concentrate on all those consumers, outside contractors, customers outside the United States that we possibly can.
I know things like a 20% corporate tax rate will allow us to be more competitive in the global marketplace. That's what our competitors enjoy today around the world. And when we're more competitive, we win in the marketplace, and that allows us to invest and grow for the future.
The bigger the population gets, the more serious the problems become... We have to address the population issue. The United Nations, with the U.S. supporting it, took the position in Cairo in 1994 that every country was responsible for stabilizing its own population. It can be done. But in this country, it's phony to say 'I'm for the environment but not for limiting immigration.'
During my years in the United States, I met a lot of evangelicals; they comprise a quarter of the American population, and are utterly unlike most Christians you'll encounter in this country.
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