President's Corner

Eugene Gleason Picture
Eugene Gleason

You poor stupid morons, one man pronounced that this is the post industrial era and all of you lemmings lined up behind him and went marching off the cliff. This not only is not the post industrial era, but it is only the second day of the actual industrial revolution.

When they married the computer to the machine tool productivity per man hour went up double, then triple and quadruple. Now they are integrating the different types of machine function into one single hybrid machine, and production has jumped another four or five times.

In the long term this will not generate so many jobs, and the jobs it does generate will be high-tech; but it will generate enormous wealth for those nations that embrace this new way of life and with this wealth those nations can afford education, health care and infrastructure that will create unlimited employment.

Contrary to conventional wisdom, information of its self has no intrinsic value. It is only when information is used in productive ways that it generates wealth that is of any material value.

Contrary to the wisdom of our modern soothsayers, Henry Ford knew what was going on when he said that you can only generate true wealth in one of three ways. You can grow it, you can mine it, or you can make it.

Our government is strangling any hope that our country has of being a participant in this golden age of manufacturing. They start out by levying a sales tax on productive equipment. Then they restrict depreciation of productive equipment to a ridiculous ten years. As if this isnt bad enough, amortization of industrial buildings is held at 38 years. Yesterday's old multistory industrial buildings are totally inefficient, when you need a clean temperature controlled environment to operate these new hybrid machines efficiently.

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