Companies cannot provide gold-plated healthcare benefits and open-ended pension commitments,
More Quotes from Peter Morici:
GM cannot go on providing the level of benefits they have been, if they want to stay in the business. It's not a matter of providing fewer benefits to increase profits, it's a matter of choosing to pay benefits it can afford, or getting to a place where it cannot pay anything at all.Peter Morici
As long as housing prices don't go down, consumers have more equity they can borrow against. If mortgage rates go up another 1.25 or 1.5 percent and pierce 7 percent -- watch out. That's when the housing bubble bursts and consumers would cut back on spending a lot.
Peter Morici
The harder the union bargains, the more plants are going to close.
Peter Morici
Don't look for big results. GM's current leadership is responsible for the woes at its North American operations. This is like moving around the chairs on the deck of the Titanic, ... bloated bureaucracy.
Peter Morici
A trade deficit like this is unacceptable, ... It lowers our GDP growth.
Peter Morici
China's purchases of dollars create a 33 percent subsidy on its exports, and are having a devastating effect on U.S. workers with only a high school education or only some college or technical training, ... Were foreign governments to stop manipulating currency markets, the trade deficit would be cut in half. (That) would increase GDP growth to about 5 percent a year and create as many as five million additional new jobs over the next three years.
Peter Morici
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Based on Keywords: gold-platedThe United Nations has come under the control of outlaw nations and self-serving special interest groups.
Ginny B. Waite
I don't think anyone is the perfect one to play me.
Hugh Leonard
Sadly, this is the same old Republican story of Robin Hood in reverse - tax cuts for the rich while programs for average and low income Americans suffer.
Jose Serrano