Wednesday, January 29, 2014

Marc Faber: America needs to be more competitive in manufacturing

China has grown extremely competitive in the quality of its earth-moving and construction machines. What they produce is better than what Deere and Caterpillar produce. 

The problem in America is that you have a lot of Facebook geniuses who sit around all day looking at their own pictures. They don't have competitive jobs. 

I met a diver in Shanghai the other day who repairs platforms and pipelines. He makes $180,000 a year and works half-time. 

The point is, there are lots of jobs that would pay well, but not many Americans are qualified to do them.