Letters to the Editor
-
Just a breather
It's pretty clear that very large amounts of "raw" products like Intel's microprocessors are sent abroad for repackaging into consumer goods that get shoved back into our own country. This is probably not true of items like earth movers (Caterpillar), information (Google), or computer systems and services (IBM). As such, one has to look at each of these on a case-by-case basis for whether or not they are long-term sustainable for the company in question.
However, for the majority of Americans, this is not particularly good news either way. The recession will still hit local businesses, regardless of large company's overseas fortunes. And the jobs - now overseas - that are servicing much of these ostensibly American company's overseas growth are not coming back or adding in any meaningful way to the normal person's prospects.