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This Is What Employment In America Really Looks Like…

Warren Buffett - Photo by Mark HirscheyThe level of employment in the United States has been declining since the year 2000.  There have been moments when things have appeared to have been getting better for a short period of time, and then the decline has resumed.  Thanks to the offshoring of millions of jobs, the replacement of millions of workers with technology and the overall weakness of the U.S. economy, the percentage of Americans that are actually working is significantly lower than it was when this century began.  And even though things have stabilized at a reduced level over the past few years, it is only a matter of time until the next major wave of the economic collapse strikes and the employment level goes even lower.  And the truth is that more good jobs are being lost every single day in America.  For example, as you will read about below, Warren Buffett is shutting down a Fruit of the Loom factory in Kentucky and moving it to Honduras just so that he can make a little bit more money.  We see this kind of betrayal over and over again, and it is absolutely ripping the middle class of America to shreds.

Below I have posted a chart that you never hear any of our politicians talk about.  It is a chart that shows how the percentage of working age Americans with a job has steadily declined since the turn of the century.  Just before the last recession, we were sitting at about 63 percent, but now we have been below 59 percent since the end of 2009…

Employment Population Ratio 2014

We should be thankful that things have stabilized at this lower level for the past few years.

At least things have not been getting worse.

But anyone that believes that “things have returned to normal” is just being delusional.

And nothing is being done about the long-term trends that are absolutely crippling our economy.  One of those trends is the offshoring of middle class jobs.  As I mentioned above, Fruit of the Loom (which is essentially owned by Warren Buffett) has made the decision to close their factory in Jamestown, Kentucky and lay off all the workers at that factory by the end of 2014

Clothing company Fruit of the Loom announced Thursday that it will permanently close its plant in Jamestown and lay off all 600 employees by the end of the year.

The Jamestown plant is the last Fruit of the Loom plant in a state where the company had once been a manufacturing titan second only to General Electric.

This isn’t being done because Fruit of the Loom is going out of business.  They are still going to be making t-shirts and underwear.  They are just going to be making them in Honduras from now on…

The company, owned by Warren Buffett’s Berkshire Hathaway but headquartered in Bowling Green, said the move is “part of the company’s ongoing efforts to align its global supply chain” and will allow the company to better use its existing investments to provide products cheaper and faster.

The company said it is moving the plant’s textile operations to Honduras to save money.

So what are those workers supposed to do?

Go on welfare?

The number of Americans that are dependent on the government is already at an all-time record high.

And doesn’t Warren Buffett already have enough money?

In business school, they teach you that the sole responsibility of a corporation is to maximize wealth for the shareholders.

And so when business students get out into “the real world”, that is how they behave.

But the truth is that corporations have a responsibility to treat their workers, their customers and the communities in which they operate well.  This responsibility exists whether corporate executives want to admit it or not.

And we all have a responsibility to our fellow citizens.  When we stand aside and do nothing as millions of good paying American jobs are shipped overseas so that the “one world economic agenda” can be advanced and so that men like Warren Buffett can stuff their pockets just a little bit more, we are failing our fellow countrymen.

Because so many of us have fallen for the lie that “globalism is good”, we have allowed our once great manufacturing cities to crumble and die.  Just consider what is happening to Detroit.  It was once the greatest manufacturing city in the history of the planet, but now foreign newspapers publish stories about what a horror show that it has become…

Khalil Ligon couldn’t tell if the robbers were in her house. She had just returned home to find her front window smashed and a brick lying among shattered glass on the floor. Ligon, an urban planner who lives alone on Detroit’s east side, stepped out and called the police.

It wasn’t the first time Ligon’s home had been broken into, she told me. And when Detroit police officers finally arrived the next day, surveying an area marred by abandoned structures and overgrown vegetation, they asked Ligon a question she often ponders herself: why is she still in Detroit?

Of course this kind of thing is not just happening to Detroit.  The truth is that it is happening all over the nation.  For example, this article contains an incredible graphic which shows how the middle class of Chicago has steadily disappeared over the past several decades.

Once again, even though we have never had a “recovery”, it is a good thing that things have at least stabilized at a lower level for the past few years.

But now there are all sorts of indications that we are rapidly heading toward yet another economic downturn.  The tsunami of retail store closings that is now upon us is just one sign of this.  The following is a partial list of retail store closings from a recent article by Daniel Jennings

  • Quiznos has filed for bankruptcy, USA Today reported, and could close many of its 2,100 stores.
  • Sbarro which operates pizza and Italian restaurants in malls, is planning to close 155 locations in the United States and Canada. That means nearly 20 percent of Sbarro’s will close. The chain operates around 800 outlets.
  • Ruby Tuesday announced plans to close 30 restaurants in January after its sales fell by 7.8 percent. The chain currently operates around 775 steakhouses across the US.
  • An unknown number of Red Lobster stores will be sold. The chain is in such bad shape that the parent company, Darden Restaurants Inc., had to issue a press release stating that the chain would not close. Instead Darden is planning to spin Red Lobster off into another company and sell some of its stores.
  • Ralph’s, a subsidiary of Kroger, has announced plans to close 15 supermarkets in Southern California within 60 days.
  • Safeway closed 72 Dominick’s grocery stores in the Chicago area last year.

And the following are some more signs of trouble for the retail industry from one of my recent articles entitled “20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind“…

#1 As you read this article, approximately a billion square feet of retail space is sitting vacant in the United States.

#2 Last week, Radio Shack announced that it was going to close more than a thousand stores.

#3 Last week, Staples announced that it was going to close 225 stores.

#4 Same-store sales at Office Depot have declined for 13 quarters in a row.

#5 J.C. Penney has been dying for years, and it recently announced plans to close 33 more stores.

#6 J.C. Penney lost 586 million dollars during the second quarter of 2013 alone.

#7 Sears has closed about 300 stores since 2010, and CNN is reporting that Sears is “expected to shutter another 500 Sears and Kmart locations soon”.

#8 Overall, sales numbers have declined at Sears for 27 quarters in a row.

#9 Target has announced that it is going to eliminate 475 jobs and not fill 700 positions that are currently empty.

#10 It is being projected that Aéropostale will close about 175 stores over the next couple of years.

#11 Macy’s has announced that it is going to be closing five stores and eliminating 2,500 jobs.

#12 The Children’s Place has announced that it will be closing down 125 of its “weakest” stores by 2016.

But it isn’t just the retail industry that is deeply troubled.

All over America we are seeing economic weakness.

In this economic environment, it doesn’t matter how smart, how educated or how experienced you are.  If you are out of work, it can be extremely difficult to find a new job.  Just consider the case of Abe Gorelick

Abe Gorelick has decades of marketing experience, an extensive contact list, an Ivy League undergraduate degree, a master’s in business from the University of Chicago, ideas about how to reach consumers young and old, experience working with businesses from start-ups to huge financial firms and an upbeat, effervescent way about him. What he does not have — and has not had for the last year — is a full-time job.

Five years since the recession ended, it is a story still shared by millions. Mr. Gorelick, 57, lost his position at a large marketing firm last March. As he searched, taking on freelance and consulting work, his family’s finances slowly frayed. He is now working three jobs, driving a cab and picking up shifts at Lord & Taylor and Whole Foods.

So what does Abe need in order to find a decent job?

More education?

More experience?

No, what he needs is an economy that produces good jobs.

Sadly, the cold, hard reality of the matter is that the U.S. economy will never produce enough jobs for everyone ever again.

The way that America used to work is long gone, and it has been replaced by a cold, heartless environment where the company that you work for could rip your job away from you at a moment’s notice if they decide that it will put a few extra pennies into the pockets of the shareholders.

You may have worked incredibly hard for 30 years and been super loyal to your company.

It doesn’t matter anymore.

All that matters is the bottom line, and in the process the middle class is being destroyed.  But by destroying the middle class, those corporations are destroying the consumer base that their corporate empires were built upon in the first place.

Read more here: http://www.kentucky.com/2014/04/03/3177378/fruit-of-the-loom-to-close-jamestown.html#storylink=cpy
Read more here: http://www.kentucky.com/2014/04/03/3177378/fruit-of-the-loom-to-close-jamestown.html#storylink=cpy
  • rickv404

    This article is so wrong about job losses in this country. We have a federal government, whether run by Democrat and Republican, that is increasingly weakening prosperity. Globalism has nothing to do with it. Globalism is actually a good thing. Bush, Obama and their parties in congress have, and are, spending this country into ruin. Obamacare, which apparently isn’t going anywhere but forward, will make matters much worse. We need to return to laissez-faire, not promote Pat Buchanan economic populism, which is as hostile to a free market as anything the left promotes.

    • MeMadMax

      Globalism, our government, entitlement spending, etc is but a few pieces of the puzzle.

      When you look at the big picture, we’re screwed.

    • Bill Brasky

      Rick,

      There is no meaningful distinction between our government overlords and our corporate overlords.

      They are, and have been for a very long time, one and the same.

      Consumerism, worshipping money, and sociopathic corporate vampires (and their prostitutes) are major parts of our interconnected matrix of problems at this point.

      • Hammerstrike

        Wrooong.

        It is not the corporations that are in charge per se, it is the central banks, aka cartels of private banks controling the money supply of “western” governements.

    • MichaelfromTheEconomicCollapse

      So shipping jobs to communist China where it is legal to pay slave labor wages is “free market” now?

      I am as big of a believer in free markets as anyone. But to me, that does not include doing business with a horribly oppressive communist government.

      Michael

      • Hammerstrike

        en.wikipedia.o rg /wiki/American_School_(economics)

        You might wish to know about the American School of Economics aka the “National System”.

      • Ray

        What you write is true. However who feeds the beast and buys the millions and millions of slave labor product?

        • RealitySucks

          Ray: It is not a choice, but a lack of options. Do we go naked?

          I support local farmers to the Nth degree, local butchers, etc. I buy American whenever and wherever possible, even if it costs me more…but a lot of things (not the junk stuff), you simply cannot buy American anymore.

          So how do you blame somebody has no money for not spending more to support American CEOs? The income disparity is as bad now as it was prior to the 1929 crash.

          • XSANDIEGOCA

            The Caution Light is flashing. It is as not turned Red…yet.

      • Roger Smith

        Why is it that Americans find it so shameful to buy products made in Chinese factories by slave labor; however, can somehow rationalize buying all of our groceries, produced on American farms, by imported slave labor, i.e. illegal immigrants?

    • Hammerstrike

      It ain´t free trade that made the USA into a great industrial power.

      en.wikipedia.o rg /wiki/American_School_(economics)

      Yep, populism is the way to go, join the National-Populist Producers Party (NP3) today!

    • Joe Kleinkamp

      Globalism might be a “good thing” for some developing countries but you have to admit those countries benefit at the expense of the USA. I have to agree with your views on Obamacare though.

      • carpe diem 36

        i believe that our taxes are too high, our energy costs are too high, the EPA is running this country to the ground, not building the Canada pipeline is doing much damage to this country, and of course maybe most of all the watermelons, the environmentalists. are doing much damage, if not the most. we have a president who does all he can to shrink the economy and waste our money instead of encouraging employment. the money that goes to got’t in the form of high taxes does not produce employment, it shrinks it, and then Obama complains about financial inequality. he is the cause and he has the chutzpah to complain about it. we desperately need a gov’t that is pro business and thereby is for the middle class and anti poverty.

    • XSANDIEGOCA

      Everything you say is true. Now, tell that to the Fruit of the Loom Workers who have nowhere to go. You are right but nothing is being done to curb Big Government. Indeed, it is only getting bigger and bigger. The Big Money Center Banks which played a pivotal role in the 2008 meltdown? We were told they were too big to fail?! Now they are too Bigger to Fail and – let us be honest – have made Washington DC a fully owned subsidiary! We, the People, have ceased to have any voice in this anymore. What is to be done? I would say unleash the Energy Industry but look at the difficulty of just getting one NO BRAINER pipeline built from the tar sands to Houston!! IMHO, the people need to do two things 1) Go on strike. Buy nothing. 2) Go in the streets. Blacks did not shed their chains until they did so in the sixties. Pardon me if I say that nothing of significance happens in this country until some pressure is applied. The political process has ceased to function for most of us.

    • Mudpie

      I tend to agree ricky, though Michael does make a valid point below. Don’t know the answer. Good start would be deregulation in the USA to lower prices so we might begin to compete.

  • Batman

    Soon we will need master degrees to bag groceries at your local grocery retailers.
    While cost of living go up and jobs decrease this spells a disaster.

    This country is in the bag…..Time to prep!

    • MichaelfromTheEconomicCollapse

      Sadly, I know a lot of people that have degrees that are working for near minimum wage.

      Michael

      • Charlotte

        Me too. I know plenty of people with master’s degrees working for minimum wage, including several who can’t even do it full time. Nobody in my generation (millennial) can find a good job, even the ones who majored in something genuinely useful.

        • Nicknakthetruthspeaker

          In Europe, we have master degree guys cleaning the streets. and towns receive thousand of resume. having a job these days is like wining the Texas lotery.

        • Isaac

          And which majors are “genuinely useful”?

          • BigAl D

            Great question!

          • Lexxs

            Software engineering. Employment starts at $120k/yr.

          • john haggle

            Will that be “off-shored” too with the internet allowing India’s tens of thousands of engineers to do 90% of the software engineering in India at $30k / year and Indian software engineers moving to the U.S.A. to do the remaining 10% at $60k – $80k? don’t kid yourself. No career choice is safe with souless murderous criminal psychopath materialists at the top of the pyramid.

          • Sher

            My son-in-law graduated with honors with a computer science degree in 2004. When he went into college the wage for this job was $60,000 a year. When he graduated it was $30,000. In that short time those jobs had all been relocated to India.
            It can happen in the blink of an eye and then you are no longer needed, no matter what degree you have.

          • Hammerstrike

            Indian computer programers…. No wonder the Pentagon systems gets hacked!

          • Sam Bernstein

            Lexxs, software is making 120K to start ? Really ? More half truths. And how long is the contract ? Can you compete with foreignors ? Yes some get good money like exceptional NBA players like Lebron. Some shill aways has to post something to give the sheep some hope.

          • Chained

            There was an article saying there is a lack of trained educated work force for engineers (all types), mathematicians and a couple others I can’t remember but it is absolutely false. Corp’s do this BS so they can hire foreigners for half the price while putting Americans on the street. Americans need to wake up and start fighting for what is rightfully theirs.

          • Lexxs

            Nothing is “rightfully anyone’s” when it comes to jobs…… American kids just want to party and get rich quickly, so they make terrible employees. I always try to hire foreign, minorities or women , personally.

          • Charlotte

            Degree programs that teach actual skills and that are tailored to a specific careers – think nursing, accounting, elementary education, etc. I’m not surprised that my friends who majored in English Literature didn’t find jobs, but I’m a bit surprised how hard it’s been for the other folks to break into even the bottom rung of a career.

        • Mike Smithy

          Welcome to the turd world. USA, USA, USA, USA.

          • carpe diem 36

            we have a turd for a potus.

          • Chained

            and turned the whitehouse into the outhouse

          • Age

            More like a bath house.

          • Chained

            Reggie Love’s bath house

          • Chained

            Aka POSPOTUS

        • carpe diem 36

          i wonder who they voted for. what you complain about is totally Obama’s doing.

        • carpe diem 36

          again, who did you and they vote for? anyone who voted for the POS of a president deserves what they get.

          • Charlotte

            I did not vote for Obama and neither did most of my friends. Most of my generation did, however, and now we’re all stuck paying for their mistake.

      • C.L. Strasburg

        As do I .. including many young people drowning in school debt that can not be discharged via bankruptcy. There are no jobs now nor on the horizon, but these young people are tethered to the government by school loan debt. How will they ever get a foothold so that they can begin to build a life of their own? If only they’d started GREEN companies and got in on the Obama Stimulus Stash. What a racket!

        • Chained

          Pay off the student loans via credit cards then default on those. Credit cards are a scam anyway.

          • Anonymous

            You just advised someone to knowingly commit credit card fraud. Whether or not you believe they are a scam, and i do believe that, suggesting the commission of financial fraud at best implies you are unaware of the consequences and costs of fraud in the financial industry (costs that are passed along to YOU at every oppprtunity), and at worst implicates you as an eccessory to fraud.

          • Chained

            Oh cry me a river why don’t you. The past 100 years has been the largest scam / heist ever perpetrated on a nation. The federal reserve (not federal nor a reserve but a private centralized bank) banking cartel has been ripping off Americans and the rest of the world for that matter for eons via fractional reserve banking and a fiat money system. They have removed the wealth from everyone and replaced it with debt. It’s a sinister plot. They make biliions on defaults by the way. If people would just wake the hell up and realize just how bad they have been screwed maybe we could end this criminal enterprise that controls our lives and our govt.

      • Adrian

        I have 4 college degrees, and working on my PhD and struggle all the time.

        • Chained

          And you’ll be in debt until your dead

          • Adrian

            Yes, true enough. I guess that’s what I get for being an intellectual, right?

      • Ughhh

        A cousin of mine recently got her Master’s degree and she is a biochemical engineer working for a “loss prevetion” deparment at a hospital making the same wage as a cashier at a retail store…she is bilingual, young, single and i consider her a brilliant lady. She graduated with honors, always a dedicated, straight A student and she can’t find a job in her field…un-friggin-believable!

        • Christer Larsson

          Today you are not any longer able to stay in your town, city or state. Maybe not even in your country. You need to be global or at least continental to become successful

        • none

          Hyde Flies used to work and run an “escort” service.
          She could probably get a job working for the Arabs?

      • carpe diem 36

        i wonder who they voted for.

    • anonymous

      It is ridiculous thag society determines a human being’s worth and value by their education level. How ridiculous it is that many jobs and careers require a degree when job training is really all that is needed.

      I think the degree thing is part of a plan to force people to stay in a job for a lifetime, instead of switching careers if they later become dissatisfied in their path. They showed this in the movie “Divergent.” “If you choose, you better be sure, because you can’t change.” How ridiculous as life changes, people change, interests change.

  • Abingdon Lady

    Seeing the labor market chart is a eye opener. I hope everyone is hoping for the best but preparing for the worse.

  • retired

    the

  • MeMadMax

    Bidding my time till it’s time to leave…

    • MichaelfromTheEconomicCollapse

      Where will you go?

      Michael

      • G Man

        I agree where in the world would one go.

      • Alex Miller

        Israel.

      • dadelaw

        Always the same thing, isn’t it? The unspoken assumption is that if things are bad in the United States they HAVE to be orders of magnitude worse elsewhere… ergo, the U.S. is STILL the greatest country on earth! NOT TRUE. There are PLENTY of places where life is – and will remain – way better than in the U.S. The U.S. is finished.

        • guguciao

          Good point dadelaw… I visited Chile and Peru back in 2007, then again just 2 months ago… the middle class has really grown in those 2 countries in just 7 years. New cars everywhere, new construction everywhere. malls packed with people shopping, etc. I imagine there are other countries where things are now going well and are having their days in the sun (as the USA had many days in the sun).

          • K2

            Nope…all of them are slowing down now. With china and india slowing down the mining boom in peru /chile has slowed down and that affected the growth of peru/chile. Even russia and europe have slowed down.

          • K2

            But if you are still interested in checking it out, go ahead.

          • guguciao

            As I said : I visited Chile and Peru back in 2007, then again just 2 months ago…

            So… just 2 months ago, I saw how people in those 2 countries were all driving new cars, crowding the malls and restaurants, Starbucks filled with people every morning, new construction everywhere I looked, etc.

            Have you visited either Chile or Peru more recently than 2 months ago ?

            Thank you.

          • K2

            I dint see/follow this thread all these days.

            As for your comment, the same thing is still happening in the states, does that mean it is not slowing down. The same thing is happening in russia, china, india yet all those countries are slowing down. And this stuff has been happening in peru/chile since 2008 and 2009 due to the big stimulus boom that started in china after the global recession. And that boom is slowing down now. The only thing that is growing is the top ten or twenty percent in these countries, and the activities you see are mostly because of them. And their growth too will be short lived.

        • Adrian

          Canada would be nice. Lots of Americans have also fled to Mexico.

        • anonymous

          Some have said that New Zealand is great with their work/life balance. Also, some say Australia is a great place to live. However, I have also heard that it is almost impossible to immigrate to either. People cannot just show up and get a job like they can in America.

  • Ob

    Robots.

    But the more terrifying problem is: What will China do with all those “extra” people?

    • Hammerstrike

      Maybe the “extra people” are the ones living in North America right now.
      There is no need for a lot of soldiers or even large-scale nuclear attacks.

    • ad

      There are somethings robots can’t do. But I went to engineering school, and engineers and scientist are obsessed with making robots more human like. I can make a robot that will clean your floor, but the more advanced eng/scientist can make robots that can approximate your skills at any job.

  • K

    The spiral is really starting to spin up. Workers continue to make less, therefore they spend less, therefore there is less need for the places they used to spend in. This death spiral will continue to pick up speed, until the economy is fully destroyed. We are already at the level of fascism. What comes next, Feudalism?

    • Joe Kleinkamp

      In 1914 Henry Ford, recognizing the vital role of the consumer, shocked the world by more than doubling workers’ pay to $5 / day. One hundred years ago he knew that capacity to build millions of cars is worthless without a middle class to buy them.

      • Donald Wilson

        Amen to that brother

      • Adam Martin

        And then his shareholders sued him and won a Supreme Court case that agreed that corporations have a legal obligation to maximize profits for their shareholders.

        Left that part out.

        • Joe Kleinkamp

          Left it out because Ford didn’t go public until 1956. There were no shareholders in 1914.

      • Mark Rawling

        Yes, and unfortunately Henry Ford is only recognized today, not for the WORK and innovation he performed, but for being an anti-semite, which he was, and which there is nothing wrong with being.

        Henry Ford’s attitudes toward work and creating a middle class which could actually afford products was what built America.

        Now the very same people Ford warned us against (ZioNazi bankers in New York and Washington) are tearing apart this country’s economic seams.

        Not only that but they’re sending our children off to die in wars of THEIR making, while they profit off it all, while we foot the bill for the expenses. Some world huh?

    • SR

      sad but true. no laughing matter but feudalism gave me a giggle

    • Twidiot1

      De facto feudalism is what we have now. The corporate/federal lords allow the serfs to have the welfare or minimum wage jobs.

      • Mark Rawling

        Home ownership in decline, Rent Serfs on the rise. Sad that so many Americans are forking over larger and larger percentages of their incomes over to their Baron or Duke.

    • James

      “Communism” is reverse engineered Feudalism…is that easier to swallow?

      • sharonsj

        We don’t have communism, you fool, we have an oligarchy.

    • Georgiaboy61

      More than one analyst has called the emerging “new” economy a form of neo-feudalism. Once the middle class is gone, all that will remain will be a small ruling class of the wealthy and privileged (i.e., the aristocracy or nobles) and everyone else (i.e., the serfs), the uncounted millions struggling to get by.

      • Mark Rawling

        30-50% of your income in Rent due on the 1st

    • Bobby

      We are not at the level of fascism. We are at the level of communism. Communism is concerned with internationalism(globalist system) were citizens are subservent to global goals.(economy), Fascism, on the other hand is Nationalism, focused on the well being of the states, citizen and is an enemy of interntionalism. If this system was fascist, we wouln’t have unlimited ILLEGALL IMMIGRATION and LIMITED LEGAL IMMMIGRATION. We wouldn’t have essentially OPEN BORDERS,etc. We would have an official language, English.,etc.etc.etc.

      • Jon Ripley

        In communism there are no billionaires. What is evolving is called an oligarchy, or a plutocracy.

        • feeriker

          I prefer the terms “kleptoplutocracy” or “kleptoligarchy.”

          • Mark Rawling

            Yes, but are we becoming aware of who these Oligarchs actually are? Look to your nearest synagogue for answers. You want to talk about billionaire bankers who have connections and are raking in the big corporate welfare (regardless of whether or not you’re a democrat or republican) and sticking it to the taxpayer? These are your oligarchs.

            The biggest psyop in history was convincing people to not only look the opposite way, but to actually embrace them as some oppressed minority deserving of our protection and benevolence.

            I say, no more. They who are destroying us are not us, and we should not trust them, not worship them in the media, and not protect them and their actions.

        • J.M.

          In communism THERE ARE BILLIONAIRES, they may not be recognized as such but they have at their disposal the wealth of the nation, after all they ARE the State. Do you really think comrad Stalin had to live like an ordinary Russian….?

      • Donald Wilson

        Roger on that

  • retired

    Where this country is going is easy enough to figure out if you know where to look
    1) many posters go after the government politicians.They may be a bunch of skunks,but they are not the real reason the economy is tanking.The politicians are merely the puppets of the people behind the scenes who own them.They really don’t have much to say when the interests of their masters,the monied classes,are at stake.They merely take orders & play “pretend” as the public watches.
    So who are the people who are killing the economy?The perps who are killing our economy are the people in the F.I.R.E economy (Finance,Insurance & Real Estate).These are the individuals who make fortunes pushing paper back & forth on desks in air conditioned offices.They are also great at playing creative games with cheap money from the Fed. & gigantic amounts of leverage,with risks backed by the Fed.(and the taxpayers).
    I read an article,awhile back,that the finance industry that works the markets accounts for over 20% of our total economy & over 40% of total corporate profits!
    The Federal Reserve Banks,which takes our tax dollars & lends it back to us charging the government interest for our own money! The interest paid the federal reserve are in the billions of dollars every year(maybe trillions by 2014).
    The Fed. is the beating heart of this monsterous,almost unregulated, financial sector which is sucking the life out of the remaining American economy.End the Fed. & we can put the wood to the greedy FIRE industry which it feeds!
    Fairly simple,but will never happen with the existing set up in Washington!

    • Bruce

      However, politicians are the ones who allow it. GUILTY! Plain as day

      • g13man

        politicians guilty since 1913 when they allowed the FED

  • El mico

    People like Buffet, who have enough money for a thousand life times, are the root cause of all these problems. He may make a few more dollars but long term he will have no market to sell these cheaper items to. The short sighted greed of these people continues to astound me.
    Aslo, Warren Buffett’s company, Berkshire Hathaway, has never paid a dividend to it’s share holders. What’s the point of that investment?
    Now I now you yanks struggle with irony but I had to laugh at the ad at the end of this article. A company that helps you outsource work to the Philippines. Not everyone will see that ad, as it’s different for regions but funny none the less.

    • ad

      On my end there is an ad for hvac training.

      • chilller

        If you’re out of work…TAKE IT! You’ll never be out of work again.

    • Nicknakthetruthspeaker

      the fact is they don’ t want people working, they don’t want new business or maintain business . they want more jobless people staying at home watching Netflix or playing video games all day.

      look guys, I don’t mind to stay at home to take care of my back yard or go cruise all day on my boat or go on the beach , but who is going to pay us? the government? because someone will have to pay one day! who is going to pay tax to maintain governments, roads, military, hospitals, police, air control, etc? the rich are leaving the USA. companies found way to not pay tax.

      I believe the music will stop very soon. wow, it s going to hurt!

      • swampwiz

        Tax the wealthy! That’s how.

        • Nicknakthetruthspeaker

          yes you can tax the rich, but rich are leaving the USA. Tina Turner is a good example, she could be a Swiss and USA citizen in same time . but instead she decided to give up her USA citizenship and become a free Swiss citizen.

          in Switzerland they don’t put you in jail for failing to report your tax and many USA guys have now found new countries where they enjoy life and freedom without the irs fear. why? because irs tax you on citizenship, other Countries tax people on their residence. big big difference.

    • swampwiz

      No, Warren Buffet would be more than happy to pay a lot more taxes, but the Republicans won’t let him!

      • art simpson

        If he would be happy to pay more taxes then he would. Nobody is stopping him and the government would cash the check. Short life, long Hell. Sounds like a bad investment to me.

      • Chris Lehman

        Gary2 is that you?

  • Ray

    All those HORRIBLE FOR YOU food joints are closing THANKFULLY because a) they are too $$$ for the avg piss-poor American and b) because those with $$$ won’t eat that crap anyway !!!
    McDonalds and Walmart are the EBT-friendly caterers.
    The rich are realizing how FAT America is and are turning the page on eating out at places like Ruby Crapday and QuizFAT. Not to mention great sites like this pointing out the health hazards from the workers who spray Windex on the burgers and snots in your salads.
    A century ago if you were fat you were rich. Today if you are fat you are poor and heading towards the ObamaCare chopping block.
    Amazing how far this country has “progressed” thanks to its corporate masters.

    • blackciti_fo5

      Although I agree with everything you said, it was kind of funny how you said it lol. Windex on burgers? Yuk! Lol.

  • Bosnian Serb

    My friend asked me about life in America. He wants to come here and test his luck, find SOME job. So asked him what assets he has now. He answered me that he ONLY has: one condo in capital city Belgrade, one condo in second largest city of Novi Sad, two houses in his current city, and a vacation home. He also told me that this is probably nothing compared to what I probably have and make in America. And the sad part is that he was not sarcastic at all. This is what TV shows and movies make those living outside of the US think. His properties are paid for and worth from 500,000-1 mil dollars. It might not sound as lot of money to some but for me……

    • Nicknakthetruthspeaker

      that’ s right, when you look at Hollywood movies, actors have good life, live in big houses in Beverly Hills and drive nice cars. (even Tesla is considered cheap.)
      in Nigeria they make 3 dollars per day, in USA you can make 60 dollars a day. wow!
      so many Africans think they will be 20x richer if they move to USA with the help of the green card lottery or sponsors from African cousins in USA.

      after moving to USA, they realize there is no job for them and cost of life is expensive. they don’t want go back in their country in fear to lose face. so they borrow money to buy car and send pictures to their African friends showing how successful they became ,the result is more people belive USA immigrants are becoming rich and of course more want move to USA.
      if they can not borrow, they simply sell drugs or illegal cigarettes.

      • Maciej

        Yea exactly the same thing with polish people here in USA. They show their relatives in poland how good life here is but its all built on borrowed cash. I’m Polish living in the USA and I see it all over the polish community in NY and Chicago.

    • Adrian

      Sounds like he’s doing well there. He should stay put. A Chinese immigrant over a hundred years ago wrote that he came to America because he heard the streets were paved with gold. When he got there he found that not only were the streets not paved, but that he was expected to pave them.

    • anonymous

      I know immigrants that thought the grass was greener. Now, decades later, they say if they had to do it over again, they would not have come to America.

  • Undecider

    The rules should be simple. You are headquartered where the majority percent of your manufacturing is located. For example, if 51% of your manufacturing is located in the Honduras and 49% in the United States, you are now a foreign corporation. You will then lose domestic status and be subject to tariffs as they should be applied to foreign corporations.

    This should take care of those who want to vacate the United States and still be considered an American corporation. The problem is, finding politicians to back this idea would be few and far between.

    • wk

      Very good point, have been to Honduras by the way a very cool area if you don’t leave the capital. Lol

    • Chained

      They backed the free trade program so their corp’s wouldn’t be subjected to those tarrifs.

    • anonymous

      That is why all money should be illegal in politics. Politicians should be prohibited from accepting any and all money from anyone and any business. Politicians should be volunteers that do not make even one penny. Then, we might get a few people that serve their country out of love for their country.

      • Bruce

        No one goes to Washington for a payroll check. Most are rich already. They go to further the needs and riches of their own. They’d still go even if for free, they’d get paid in the end. You can bet on it!

        • g13man

          you are kidding .. They go to get rich by investing on what they are about to vote on ..

    • Doc

      I agree but would take it one step further… Any corporation that has more than 20% of their production oversea’s will be taxed at current taxation plus 25% and absolutely no write offs, further to that 100% tariff in everything coming in to the country that could be manufactured here, no more NAFTA or any other treaty for that matter. America and Americans first…

  • FortuneSeek3rz

    Quizno’s has good food. I hate to hear they are closing. Never had a problem with service either.

  • Syrin

    According to that graph, something devastating happened in 2008. I wonder what that could POSSIBLY be ?!?!?!

    • FortuneSeek3rz

      It was the realization that a lot of the assets on the balance sheets of banks were mispriced or simply lied about.

  • steve

    Unfortunately the end result of this economic collapse will probably be a global war. I feel there is no other option at this point. You can bet many unemployed will be drafted to fight it too.

    • Phil from Germany

      Currency war, trade war , world war. Many have been saying exactly that for a long time.

    • Isaac

      Yeah I have that same feeling too…It may happen soon.

    • FirstGarden

      Does this mean that age discrimination will finally pay off?

      Or just that we will be peeling potatoes in the army kitchen?

    • Chained

      Not a probability of global war but a sure thing as the stage is being set for Armageddon and the apocalypse. The whole world will fall into this void and it can not be undone.

  • Phil from Germany

    When the host dies , so does the parasite. Put into economic trems, when everybody is broke and the consumer rate hits zero people like Warren Buffet aiso crash. How can anything , apart from food water etc, be of any worth at all if nobody can afford it ?

    • wally

      I was just thinking the same thing. People can’t go on buying forever. Most things I used to buy are now double the cost. Soon I won’t eat out at all then what happens? Businesses close. Look at McDonalds? Losing business. Even Walmart is getting hammered in some places. Look at the .99 Cent stores. They are packed. This is all going to end and soon…

      • Phil from Germany

        Wally, exactly the point. I live in Germany where argueably the best cars in the world are built. A 150,000 euro car means nothing at all to me, where as an affordable car does.

      • XSANDIEGOCA

        I used to buy things without a second thought. Now, I give it a third and a fourth thought and usually don’t buy it at all or buy cheaper. Example, I was looking at Post Raisin Bran for $4.99 at Vons. Saw the in house brand for $2.99, 2 for $4. Did I buy 2? I bought none and shopped at Food 4 Less and picked up the no name brand for $2. Bought one. In nutshell, this is what is going on.

        • Mudpie

          Me as well.

        • ian

          so…your logic is to eat low quality food? Enjoy those doctors visits in the future.

          • XSANDIEGOCA

            Nothing low quality about it. Just cheaper.

          • K2

            Its cheap for a reason.

        • Chained

          Learn to grow your own food and learn to hunt and fish. Too many of us have become dependent on supermarkets and convenience foods and lost self reliance–the know how to keep ourselves alive.

          • XSANDIEGOCA

            Right on! Great book, One Second After, about the aftereffects of an EMP burst throwing the economy back 150 years. Explores the themes of lost agricultural and animal husbandry skills that had to be reacquired at great cost.

      • XSANDIEGOCA

        Any interruption in welfare and Walmart has a bad month.

        • Adrian

          Maybe Wal Mart should pay their employees better and then they wouldn’t have to worry about the state of welfare?

          • XSANDIEGOCA

            Henry Ford’s point precisely.

          • FirstGarden

            Oh, but that misses the point. Walmart loves welfare; that is, for their shareholders. A bad month for welfare now & then isn’t gonna kill them. Besides, we now have the Unaffordable Care Act.

            For the plutocrats, paying employees well is an oxymoron to their concept of good business. Dump it all on the state (offer your employees classes on how to get the freebies we’re too greedy to pay); dump it all on the public tax burden til it breaks the economic backbone of a nation. Soak em all dry while we soar thru the stratosphere to levels of obscene, untold wealth. Oh how we love the golden rule.. those with the gold rule.

          • Mike Smithy

            Walmart has been gaming the system for years. Pay your employees starvation wages and Uncle Sugar will subsidize the short fall with food stamps.

  • http://waltersthinking.blogspot.com/ Walter Ruggieri

    The media is claiming that the recession is over, but all you need to do is take a good look at Main St. and you can see that things are not well. We (the 99%) are all poorer as a result of the recession and the attempt to fix it. What we need is for the government to get out of the way and let the private sector fix itself. The more the government tries to fix things the worse they get.

  • Georgiaboy61

    For all of their failings – real and imagined – men like Henry Ford firmly believed that a strong and prosperous workforce would ultimately benefit everyone – from the business owner to the worker to the nation as a whole. Ford knew that if ordinary people did not possess the economic means of buying automobiles, the market for his product would soon dry up and wither away.

    • XSANDIEGOCA

      Wonder what Sam Walton would think about the company his heirs inherited? What is the statistic? The Top 5 Waltons have more wealth than the bottom 30% of the population combined?! Throw in some Comprehensive Immigration Reform and another 50MM aliens from points South over the next five years and I think things are going to get a little edgy….

      • anonymous

        Supply and Demand. The USA has more workers than jobs, yet the country is flooded daily with more workers through legal and illegal immigration. It almost seems like there are some powerful people that want to purposely collapse wages and benefits and put more Americans on unemployment and welfare.

        • XSANDIEGOCA

          Almost seems….yet, why else would they do it?

    • K2

      Henry ford is no saint, he raised worker pay only because it benefitted him. He did a good thing, but not out of the goodness of his heart.

      • Georgiaboy61

        Maybe you ought to read my post again; I made exactly the same point.

        • K2

          You said george soros and warren buffet have no loyalty to anyone or anything except the almighty dollar. And implied henry ford seemed to have compassion as compared to soros and buffet.

          And when i said he is no saint I meant to imply that he dint have compassion/more compassion as compared to them both….he too had loyalty to the almighty dollar…..he just used different means to earn it.

  • bob cratchette

    PEOPLE NEVER SEEM TO LEARN FROM HISTORY IT IS NEVER GOOD WHEN THEIR ARE NO JOBS AND THERE BECOMES (sorry for the caps but anyway) 2 classes the poor and the rich which throughout history has never worked out well, this is the stuff that revolutions are made out of eventually because the have nots will not put up with the haves taking everything from them off the sweat of their brow and society as we know it falls apart, the restaurants they mentioned , who here can afford to eat at them any more on the salaries people are being paid now 75 or 100 bucks for a meal is groceries for most of the week. looks like old ross perot wasnt wrong after all also.

  • Mudpie

    You know, I am not so into the idea of a social responsibility model of corporate governance. Our labor costs are huge in this country, employing people and defending against attorneys is expensive. Do not get me wrong, I despise big corporations most of the time. Bailouts are a joke. But if we still had a free economy much of this would not be happening.

    And we support millions of illegals, they derive huge benefits from taxpayers, we pay tons of money for phony “higher education” etc.

    Want to stop the bleeding? Cut regulations, let businesses take risks and go back to what it was like two decades ago.

    You are a bit off on this. As for going overseas, I do not like the trend, but hey – if the costs of hiring and finding the right quotas of people and defending against absurd lawsuits (I am a lawyer, btw), and dealing with absurd regulations (I have worked in a regulatory agency) gets out of hand?

    Well, we reap what we sow at some point.

    Warren Buffet is not a capitalist. He has made much of his money via political leverage. The man is a slime.

    • Adrian

      A few points I would make: immigrants pay into social security via the payroll tax, yet they get few of the benefits. 2) deregulation was what caused the economic collapse in 2007-8 in the first place. If you continue to deregulate capitalism, you get short-term, short-sighted policies that make a few people very rich quickly, then the bubble bursts and the rest of us foot the bill. I’d like that to not happen again, although I know that it will since the problems of the 2008 collapse were never remedied. 3) If earnings continue to go to the richest 5-10% while the rest of us stay stagnant, in the end the rich are hurt because their businesses fail because too few people can buy their products.

      • Mudpie

        Some interesting points, I am too tired to write much except as to the immigrants. I personally do not give a whit what people here illegally do or do not get back, period. I would just as soon jail them. The others deserve addressing but need some sleep.

      • FirstGarden

        Well, I wonder. The first part of your post was very well stated. But where is their wealth generated? From all sorts of places, I’m sure. But wouldn’t a large segment of that wealth come by the sale of cheap plastic trinkets made in China by low-paid labor?

        Historically, in economic down times, thrift stores have thrived. And today we have 99 cent stores that seem to be doing very well. Now, big ticket items will surely suffer. There’s only so many wealthy around to walk into Macys and buy this stuff. The middle class, as we all know, is quickly going to Neverland. That’s where pirates rule, and their captain gained the ascendency by hook and crook. Especially crook.

        I think the rich are so totally engulfed in waves of phenomenal wealth, they might not really feel it when things go down. Plus, they got all those lovely hiding places overseas to hide their booty.

  • chilller

    I will never buy another pair of Fruit of the Buffett Loom ever again…

  • davidmpark

    We are able to fix this. I know there is a very vocal minority that wants the US to collapse but the majority doesn’t.

    I’ve said many times before that we have the money: the $120 trillion in raw materials and the $300 trillion in renewable resources, plenty of people readily available to work at profitable ventures, and we still have quite a good position in the world despite reports of Chinese and Russian gains – they are still way behind us and failing more than us. We can fix this in a matter of months.

    Our national problem is the inept and mentally insane political leadership and a slow social collapse – all coming from a loud, deceptive, and evil yet tiny minority. Both of these portents can be solved starting at the local levels. Standing up for what you know is right – even if you stand alone. Doing good toward all mankind despite the painful backlash. Speaking truth even when the collectives’ passions are of a different flavor.

    Meet with your neighbors and find out what they believe. If like minded; back them up, encourage them to seek out other neighbors with good in them, encourage them all to go to city council meetings and get the elected councilmen to vote your way. It’s surprisingly easy to do! Change your city then look to changing your state. When that is done, more jobs can be created despite the Feds and that nasty minority of crazies.

  • Arno Krause

    I just had a wild idea. Since the mantra of “Shareholder Value”, is most always brought out during corporate liquidations, we should consider just who the largest shareholders really are. I think in most instances, the majority shareholders are the senior management, not to mention banks and foundations, and even other corporate raiders such as Buffet et al.

  • DJohn1

    I do not believe in global markets. I believe we as a country have to do what is right for us. To do this we need to start copying the Swiss foreign policy. Only because it functions while ours is bleeding us dry. That means withdrawing troops and going neutral.
    As for the corporations, whatever is convenient is also moral to these wealthy giants. I have seen a better set of morales and ethics in South Korea in the 60s when everyone was so poor that anything goes. So if slitting your throat over wages and moving to countries that have bankrupt currencies, that is exactly the business format that they are going to do as long as they can get away with it.
    We used to have two political parties representing the rich on one side and the poor on the other. Labor tended to support the democrats and wealth supported the republicans.
    No one is representing those without wealth in this country any more. Both parties are two sides of the same coin.
    You want to change it? You have to change the basic way our political parties represent all of us. And that will only happen when we hit bottom. That is happening right now.
    We, as a people, will have to weed out the entrenched politicians controlling this country. It is not a matter of IF. It is a matter of WHEN it will happen.
    It is not a conspiracy. It is not any one individual. It is that silent majority that will make it happen. Because suddenly one November, everyone in this country will realise that under the current regime, we all lose.

  • Javier

    I know I’m dreaming, but I would hope that these 600 employees that are going to be out of work should get together and unite whatever they have $$$ and start their own Fruit of the loom with another name of course, they ARE the Company, they make the products. Get someone with $$$ that really cares for this country to help them purchase the sewing equipment and start their own company. Announce on the Internet that they are the ex-employees from Fruit of the loom and ask the American people to support their local label. I know I would pay a little more for their products, if It could help a company born out of this situation. What good would it be for Warren Buffet if his company products would not be sold when people know that this is not made in America anymore. Like I said, it never hurts to dream that people would get behind this.
    -Javier

    • swampwiz

      And just how much cash do you think workers at a Fruit of the Loom factory would have hanging around to invest in their cooperative?

  • Jodi

    Yep, the bottom line is what got me laid off 3 years ago but it didn’t work out too well for them because the contract they signed with the company they handed our work to didn’t work for them. They hired me back full time in December, I’m just hoping that it will last. Only time will tell.

  • mpowers48

    Sad but true!

  • J. Knight

    Or you can come to Texas and make $50,000+ working in the oil fields. Or build houses for those working in the oil fields. It’s work, but the money is great. Did I say it’s hard work? Yes, it is.

  • Adrian

    I agree with you that corporations have a responsibility to their employees, but that seems to be an idea of a bygone era. Fewer of them treat their employees like anything but expendable cogs to be thrown out when their usefulness ends. In reading about the vast numbers of stores and restaurants closing, I also can’t help but think how we’re doing all this to ourselves. A case in point is to look at the knee-jerk reaction people have whenever the minimum wage is suggested to be raised. This would put more money into the hands of low-income workers, who spend it in places like those going out of business. The standard libertarian and right-wing reaction to raising the minimum wage is to scream that prices would rise. Well, hello…prices are already rising. $ 20 bought you far more groceries in the late 90s than it does today; if you’re lucky you can get 2-3 items for $ 20. Wages have been stagnant in the US since the early 70s. People have been trained to ignore the largesse that the small wealthy elite have: going from millionaires to billionaires, and what do the people do? They focus their wrath on “welfare cheats”. How much money do they think people on welfare get a month? It is the purview of the states now, and state budgets are far smaller than the federal budget. In Europe and Canada, people have the mentality of everyone is in the same boat. The greed that pervades the US culture is sinking us all, and perhaps with good cause. Greed isn’t good or admirable, and I think the only way capitalism can work is if it is made to work for everybody and not just a lucky few who were born rich.

    • FirstGarden

      “A tipped employee engages in an occupation in which he or she customarily and regularly receives more than $30 per month in tips. An employer of a tipped employee is only required to pay $2.13 per hour in direct wages if that amount combined with the tips received at least equals the federal minimum wage..”

      So much for getting ahead as a reward for hard work!

      And the corporations basically have the public paying their employees FOR them. How do ya like *those* bananas?

    • swampwiz

      It’s all the working class folks that vote against their economic interest because their party hates homos, little brown men, etc.

    • anonymous

      The charts in the “Inequality For All” DVD were very enlightening as they showed CEO wages compared to a working person’s wage over time. It was also interesting to learn that Berkeley was free to all in the 1960s. How did education go from being free to soaring out of budget for many Americans? If society really wants an educated population, why would education be so expensive? Also, welfare sent some people to college. One got out of college, worked for many years, and paid the system back more than it cost the system via taxes out of their paycheck. It almost seems like the things that worked, things that were good, things that helped society, have been stopped. Why would anyone want to take education away from others? I find the whys and the whos to be very interesting questions.

      • Adrian

        Politicians, namely Reagan in California, started cutting taxes, defunding public schools and universities. Hence, tuition increased. They wanted to do away with all things public, for in their warped worldview, all things government were always bad, government isn’t part of the solution, gvt is the problem, and all that nonsense. You raise good points, but my take on it is elites DO NOT want an educated population that can think critically. George Carlin does a great job summarizing this. I used to teach in the public schools and I saw how NCLB stamped out critical thinking. Whenever I asked my students to think critically, their responses were usually that of annoyance, and wanted just to know “the answer.” I’d tell them there isn’t always just one answer,, and this confused and angered them, as if I was toying with them. Chalk that up to being taught since kindergarten to bubble in the right answer on a test, then forget what you learned by the time the test was over. Just as slave owners didn’t want a literate slave, elites don’t want critically thinking citizens or a workforce that can think critically. It’s great you are thinking about these questions, and you make good points in your post.

        • anonymous

          Thank goodness for teachers like you. Thank goodness for teachers like John Taylor Gatto. Everyone should be taught to think for themselves.

          Many things in life are a matter of perspective; different people in different circumstances will often arrive at different answers. Of course those in power don’t want people that think for themselves and arrive to the truth that there are no “elite” people, and that all humans are really created equal. It would derail the “elite’s” sick, twisted plans if the 99% got tired of the 1% parasite class feeding off of the 99% (just like it derailed the control and opression from the “elite” when America declared independence from England). Just like the movie “A Bug’s Life” with the grasshoppers and the ants. The ants do all of the work, while the grasshoppers say “Boy, I sure hope the ants never realize there are more of them than us.” Of course the grasshoppers are living it up while the ants work non-stop.

          “Can’t you see?!?!? They are fattening us up so they can eat us.” -The movie “Free Birds”

          • Adrian

            Thank you for your nice comments. You are exactly right in what you say. I’m just glad that you can see what’s going on, as so many never do, and resist any and all information coming in to try to educate them.

  • old fart

    Ah but we have FREE medical and Illegals flooding in for the FREE benefits and a totally corrupt government with half of the nation on food stamps and other FREE benefits What more could you want?. Whee we are FREE!!!. Boy this crash is going to be outstanding one hell of ride.

    • FirstGarden

      A great way to build voting blocks, though.

  • Dave of OK

    The other side of the coin is the American love of technology — besides outsourcing, that too is destroying the middle class. Where do we draw the line and say “no” to technological improvement, if it puts American workers on the street, but puts money into the CEO’s pocket?

    • Founder Church

      Another cop out. It’s YOU.

  • Gary Ark

    There is a lot to agree with in this article. However, the basic premise is totally wrong – there is no morality in business. It is silly to assume that 40 years ago businesses were more moral and stayed in the US because of their goodness. Everyone of us will not think twice when presented with a choice to buy the same thing a lot cheaper somewhere else. There is something more complex going on in here and I don’t think it can be fixed. it is a cycle of life – countries become powerful, then deteriorate, die and then re-invent themselves. Think of America – early settlements, war for independence, civil war, great depressions, great debt collapse (coming).

    • Can’t Sign Into Disqus

      Gary, I think you’re largely correct. Perhaps what Michael meant about morality was that while business, in and of itself, is amoral (morally neutral – not intrinsically good or bad), the spiritual/social/moral consensus in which business operated, was once better.

      Some call it the Judeo-Christian ethic, (as do I), but whatever one may call it, the bottom line — the REAL premise here — is the moral condition of society. You can’t legislate morality, but from the inside out the overall spiritual climate was better in the history of our once-great nation.

      • Gary Ark

        I think this is idealization of past – what made middle class in this country is unionization of labor, which was revolutionary at the time (1920s) and is taken completely for granted now. Once labor unionized and could negotiate better living wages, they admittedly became too powerful and (almost) ruined America auto industry. Now, they are mostly busted in manufacturing and so they have moved into government. Government jobs are the only ones that pay retirement benefits now (pensions and medical). These union are becoming too powerful now and they in turn will be busted by bankruptcies (cities, states and eventually US Government). This is cycle – nothing is good or bad – what was good at some point will become bad at another. Sigh…

        • Founder Church

          Right but it all was because God was given the middle finger first.

      • Founder Church

        Fine, but you CAN legislate morality. That has been so through out history.

        • g13man

          you can legislate ethics , morality is learned from GOD..

          • Founder Church

            Wrong! Morality comes from God as do all things in the entire Creation but until it is placed into Caesars law it will not flourish in any society. You are teaching a false doctrine placing you in opposition to God. You are just another Heretic in the church. Google “FounderChurch” to be taught.

          • g13man

            of course morality is from GOD . That is why you can only learn it from him . And no iam not in opposition of him .. get that log out of ur eye .

    • K2

      good point.

  • Trailer Park Investor

    reminds me of a dog chasing it’s tail, round and round, faster and faster but no matter how fast it runs it’s always just out of reach, Round and round, faster and faster, except this is a race is NON-STOP to the bottom…

    • Founder Church

      But you are that dog.

  • ian

    Everywhere i go, i see nothing but yuppies and well off people living in expensive condos and driving nice cars. Where is this collapse when the yuppie populations and gentrification of neighborhoods is at an all time high. These are not signs of hardship and collapse.

    • Founder Church

      Dancing on the Titanic.

  • Northernconservative

    Don’t leave out that our government has become so invasive and so bogged down with regulations that the real solution for the jobs situation In this country is more increasingly difficult as well…the environment towards small business and being a self starter has been stifled so that it is harder and harder to be truly free. Working for oneself is taking a very large amount of creativity and it’s like the government on both sides has tried to put small business to death. Get the government OUT of our lives!!! They can’t even stop spending money for 30 seconds!!!

    • Founder Church

      Government = Democrats.

  • Randy Townsend

    LMAO at the most recent story saying the economy has “recovered all the jobs lost since the Great Recession began”… But the reason unemployment is still so high is the “increase in the population”… You have to give it to the writers for their creativity, if not their honesty….

    • Founder Church

      Democrats are bringing the increase in. They are not being born here.

  • CharlesH

    When the financial and housing collapse coincided with the “Great Recession” it all shook the business world to it’s very core. In short order they knew they had to do more with lots less – they figured it out and they’ll never go back to what was before. If you’ve been without a job for a year or more, you may very well never be employed again – at least not in 1 job that pays a living wage. This is “the new normal”.

    • Founder Church

      Welcome to the third world.

      • CharlesH

        That’s exactly correct. The U.S. has effectively entered a ‘third world’ scenario. While we may still be better in most regards, we’ll all see a steady downward spiral until that day when a light goes off and we suddenly realize, my God – it’s over! Ah yes…the good ole days.

        • Founder Church

          FounderChurch way is the only way to reverse all this. The only way.

  • Sandbagger

    Abe probably never will get back that kind of job again if he has to work for a publicly traded company. He is too expensive to hire. The shareholders demand ever increasing profits and men like Abe, while they do have the experience, they likewise demand too high compensation compared to their much younger competition. Or perhaps the publicly traded company has just shifted the workload among the remaining employees and so avoids a new hire altogether.

    Wall Street is to blame for the loss of many jobs.

    • Founder Church

      Commie talk.

    • Orange Jean

      Not necessarily… I have 20 years more experience then my boss, who is paid a lot more and young enough to be my grand daugher.

      Same level of education – tho I will admit I don’t like supervising and therefore did not apply for the job when it came up. She may have not had a chance if I did (I had 4 years supervisory experience at the time she started she has none). Plus she was in the same job level as me 3 years into it… mostly from brown nosing (like babysitting the kids for her fomer supervisor for free, before her promotion).

      I’m not saying she is a bad supervisor, she’s turned out to be pretty good at it actually… but saying younger get paid less is not always the case.

  • Ughhhh

    And wait for the Trans-Pacific Partnership to get approved, it will be the nail in the coffin for us…the proverbial shot to the head.

    • Founder Church

      More Global Democrat sugar daddy.

      • K2

        Are you supporting the transpacific partnership?

  • newpapyrus

    Private companies have no loyalty to the American people. And they shouldn’t since the primary focus of a private company is to maximize profits for its owners and shareholders. Private employees certainly have no loyalty to the owners of a private company if they go out of business.

    Its ups to Federal and local governments to ensure that all Americans are employed and an atmosphere is created where private companies want to create jobs right here in America.

    That means creating an atmosphere where companies don’t have to have a constant battle with employees over health insurance. This could be done by giving employers a simple and cheap public health insurance option with a significant medical savings account component to help provide health insurance for its employees like they do in most other countries.

    Dramatically lowering the tax on US corporations would also attract more companies to America. The loss in revenue could be easily made up by reinstating the tax on stock transactions that was ended during the Lyndon Johnson administration.

    Finally, unemployment should be ended in America by Federally instituting a 32 hour work week with overtime starting after 32 hours. Payed vacations up to 6 weeks for employees that have worked for a company at least six years should also be a benefit– mandated– by the Federal government.

    Marcel

    • Founder Church

      Your plan is from a Democrat on Steroids. Never happen. This Country is on its death bed. We murdered most of our kids with Birth Control. Don’t you get it?

      • Boo-urns The Wise One

        Oh boy, here comes wackaloonie Founder with his birth control = murder nonsense again.

        We were really happy when you disappeared for a while. Please leave again. Thanks in advance.

        • Charlotte

          Well, the pill mostly works by preventing ovulation, but breakthrough ovulation is common (otherwise we wouldn’t have so many birth control failure babies running around!) And since the second way the pill works is by thinning the lining of the uterus so that fertilized eggs have a much harder time implanting and growing, anyone who believes that life begins at conception should be uncomfortable with hormonal forms of birth control. The bottom line is being on the pill means a lot of babies in the earliest stages of growth are going to die

          • Boo-urns The Wise One

            At that point in time these are not “babies.” Jeeeeez… they are a tiny mass of cells, nothing more.

            Don’t encourage wackadoodie Founder. He’s got enough self-delusional lunacy already.

          • Charlotte

            It’s a new human life, with unique DNA. Conception is the only logical starting point for life – any other point in pregnancy would be a completely arbitrary line that wouldn’t amount to anything more than when someone happens to “feel” like it’s a human life.

          • Boo-urns The Wise One

            But it’s not a “baby” as you stated earlier. Not even vaguely a baby.

          • Dennis Markham

            Actually I read there’s no (or very little) evidence the pill impedes implantation. Thickening of the cervical mucus impedes SPERM.

      • K2

        I can imagine how people see abortion as murder (even though i dont agree with that esp in cases like rape and incest), but birth control??…….please!!!!!!!!!!!!!!

        What are you murdering….sperm??? Do you know you also do that every time you wank off dont you? Sometimes it even comes out even if you dont. It happens for everybody.

        Micheal, please dont ban this comment :) Since we are all adults here i took the liberty to talk freely about this kind of stuff.

        • K2

          If you mean hormonal birth control (not contraception which is also considered birth control) then yes it is murder. But again not in the cases of rape,incest even if you abort the embryo.

        • Founder Church

          Killing and or murdering babies with Birth Control is defined as when you INTENTIONLY do anything of any sort to PREVENT Conception. No intention No Killing. People lie to dodge guilt for sin crime or censure.

          • K2

            Its defined? By who? You?

            Use common sense.

            Using a condom….is not killing babies.

            Take a scenario:If a person is not getting married because he doesnt want to have kids? Is that murder too? Because he is preventing conception.

          • http://www.FounderChurch.Blogspot.Com/ “FounderChurch”

            Well there are exceptions to every rule. And as to his case, Yes he would be killing those kids because as you said, he doesn’t want them to live. Now, I said there may be reasons why that is ok with God and others, but I’m not speaking for them. All I am saying is he is taking life. I’m not judging it to be murder or even sinful, only saying it is taking life, period, nothing more. If I spay my cat, I am killing kittens, period. Whether I am justified in doing so is another matter. Get that through your hard head.

          • K2

            When a person doesnt even have kids/bring them into existence, it is not killing.

            For something to be killed, it has to exist…first.

          • Founder Church

            That is an old sad wrong evil argument I have heard a hundred times to justify killing kids. Let’s agree to disagree.

          • K2

            Just saying that something is wrong doesnt make it wrong.

    • swampwiz

      How about Medicare For All? That solves all employer’s issues with health insurance!

  • piccadillybabe

    Sometimes they close stores that are doing well. They closed a Staples in my area last week all of a sudden that did real well and left the other 2 open that were not doing so well. No rhyme or reason for that one.
    Heard today that online sales are not really helping the economy much either. It is just another retail venue but sales are not doing much to boost the overall economic picture.
    Well, since no one is irreplaceable today and experience and college mean nothing, I guess those at the very top i.e. the CEOs better watch their (greedy) backs because the same thing will be said about them. Give it time.

    • Founder Church

      Coveting will get you nowhere.

  • SmallerGovNow

    “But the truth is that corporations have a responsibility to treat their workers, their customers and the communities in which they operate well. This responsibility exists whether corporate executives want to admit it or not.

    And we all have a responsibility to our fellow citizens. When we stand aside and do nothing as millions of good paying American jobs are shipped overseas so that the “one world economic agenda” can be advanced and so that men like Warren Buffett can stuff their pockets just a little bit more, we are failing our fellow countrymen.”
    This is not the fault of Warren Buffet. Our politicians created the system that pressures businesses to off shore. Apply tarriffs to imports and get rid of the regulation, red tape, and taxes in the USA that have put a strangle-hold on small business.

    • Founder Church

      Whine On.

  • Spy#1

    In the town where I live we have a shopping mall that opened in 1996. There have been vacancies in several locations since 2000…yes 14 years. In the last 5 months, there have been 4 store closings. That’s not counting several other empty storefronts that will probably never be filled, and for all practical purposes, have been forgotten. Here is what I cannot seem to understand. New car sales are up, home sales are up, and cruises are a hot ticket right now. Where is the money coming from?

    .

    • Founder Church

      Borrowed Money

  • Founder Church

    HORROR STORIES HELP NOTHING! AIN’T IT AWFULS ARE JUST SUPINE WHINING. Stop crying on each others shoulders. Get off your fat baby killing with Birth Control butts and organize yourselves. And start by putting the instructions of the Bible front and center.
    Google “FOUNDERCHURCH” and learn something.

    • Boo-urns The Wise One

      If you Google “Founderchurch” you will learn that this guy is a complete wack job. But then again, we all already knew that.

      • Founder Church

        Why do you use WE when YOU are the only one?

        • Boo-urns The Wise One

          Do you even read the replies to your insane comments? I am far from the only one who thinks you are koo-koo bananas.

  • douglas semonche

    Loss of jobs due to technology. Luddites. Lets produce wheat with horse drawn plows, foundations with shovels, transportation with wood burning steam engines, email with pony express, computers with typewriters and slide rules. Lets clean clothes with hand hauled water and backbreaking hand washing. Lots of jobs everywhere – very little production

  • Priszilla

    one way out could be to nationalize those factories. buy them up from state money and hand them over to a collective of the workers.

    • Orange Jean

      Also known as communism… thanks, but NO THANKS!

      • swampwiz

        I guess folks like you would rather be poor and “capitalistic” then take a piece of the economic action?

      • Priszilla

        or, you close the factory and let those workers use their guns to take what they need.
        your choice.

    • K2

      Wrong. The threat of losing their job, if they dont work well, will make people work well. And in a government enterprise, that threat will not be there that much.

      Govt should only run enterprises critical for national security….like oil, telecom, banks etc. Private players should also exist in these three sectors, but govt should also have a hand in them. Like it is in some countries.

      All other sectors…should be in the hands of private enterprise. They are not perfect, but they can be monitored by the govt. But if the govt itself runs every company…who will monitor them?

      • Priszilla

        are you saying that all the workers of those 50,000 factories closed in the us were sleazebags and didnt deserve better?

        I didnt say the government should run factories.
        i said instead of paying benefits for years, the government pays for the factory, and then transfers ownership to the workers, letting them run the factory and reap the benefits of their work.

        • K2

          When the hell did i say that? Dont twist my point into something else.

          And about transfering ownership to workers? Do you want the govt to give the factory away to them for free?Also if a situation arises where one or more worker in that group need to be fired or let go, for whatever reason, who will do the firing?And who decides who should be fired or not? And who decides which worker gets how much pay?

          • Priszilla

            “Do you want the govt to give the factory away to them for free?”

            Yes. Just like benefits and food stamps.

            Right now the management decides who get’s how much and who gets fired.

            As most management does not own the factory now, from that POV they are no different to the workers. Being employed to work for the benefit of the shareholders.

            So, if Buffett wants to close the factory, how could hardworking Americans have prevented that? By working 24 h a day? Or more?

            “losing their job, if they dont work well”

            If they lose their job, because Bufett closes the factory, does this mean they didn’t work well?

          • K2

            So you want the govt to buy the factory from warren buffet? Now who sets the price, should warren buffet set it or the govt?

            And two, you said ‘if they reinvest into the factory’. A lot of corruption exists with the govt. Bureacrats/ politicians incharge of the money earned, will definitely skim off some profits, for themselves. Even the board will do the same.

            ”So, if Buffett wants to close the factory, how could hardworking Americans have prevented that? By working 24 h a day? Or more?”

            Ofcourse not, they could not have prevented it. I know it,everybody knows that. When the hell did i imply they could have prevented it?

            Dont apply something i dint say..to me.

            ”If they lose their job, because Bufett closes the factory, does this mean they didn’t work well?”

            See you did this again. I never even implied it.

            Look up the meaning of the word ‘imply’ in the dictionary’ if you dont know the meaning of it.

          • Priszilla

            Remember this:
            “The threat of losing their job, if they dont work well, will make people work well”

            Let’s assume they work well, but they still lose their job, What motivation will they have to work well now?

          • K2

            Not all private companies ship their jobs overseas. And even among those that ship theri jobs, not all of them ship all their jobs.

          • K2

            What motivation will they have? Earning money, building a house, family, a nice car etc all these will motivate them to look for another job and work well at that job.

          • Priszilla

            Yes, I see. So most of the time you work for a company you spend on looking for that better job to earn more money.
            Interesting.

          • K2

            If the current job is okay for me i wont, if it is not i keep an eye on a better job while working the current job. If i get fired or if my job is shipped overseas, then i will look for another job and a better job if i can.

            Most other people will do the same

          • Priszilla

            but if you work hard, you wont get fired, didnt you say that?
            you should spend more time on working hard than looking out for that other job.
            no, dont work hard, work smart.

            its like partnership. if there is a disagreement, the grass is greener at the other side of the fence.

          • K2

            No i originally said, the threat of losing their job, will make people work well.

            And about your second point, you should work hard, but if you are not satisfied with your current job, you should keep an eye out for a better job, that doesnt mean you should not concentrate on your job. Keeping an eye out means, when you come home from work or when you are in your recess time in the office or factory, you should find out if there is a better job for you.

          • Priszilla

            Why?

            Working well has no influence on whether they will lose their job or not.

            If you work hard, you break your back, and with a broken back you are sick, and if you are sick long enough, you will get fired.

            So, working hard will get you fired.

          • K2

            Wrong, working hard will reward you in most of the cases. Working hard doesnt necessarily mean breaking your back. You can even work hard without breaking your back.

          • K2

            All these years, employees even in that company who work hardest more likley benefitted more most than not so hardworking employees.

          • Priszilla

            Really?

            So, Jack Welch, Bill Gates or Warren Buffett worked harder than all the cleaners in their companies together?

          • K2

            warren buffet worked hard to get to where he is now. Same with billgates.I dont know who jack welch is. And all those cleaners would have been unable to pay their bills,feed their families if they dint work hard.

          • Priszilla

            The Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing

            Paperback

            by

            Bronnie Ware

            (Author)

            All men: I wish I hadn’t worked so hard.

          • K2

            The best book is life. Life teaches us that most people cant achieve anything in life without working hard. Only a few incredibly lucky ones end up achieving what they want, without working hard.

            By hardwork i am not implying physical work only, even mental work.

          • K2

            Hardwork doesnt mean physical work only, maybe thats the reason for your confusion about what i meant before.

  • Romans1

    My sister- in -law worked at Dominick’s since she was a teenager and the Dominick’s she worked at closed at the end of 2013. There goes a job and health insurance for her family. Keep believing the global corporatist who say things are improving. Yeah right, improving for these evil men like Warren Buffet.

  • Twidiot1

    Fat boy Buffet sure looks happy in that picture. And he is always complaining about how undertaxed he is. Let’s make him happy and tax him at a 100% rate.

    • chowthen

      Tax him 100% for his wages which is $1.00. Buffett has nothing but non profit foundations worth billions but not taxed. Establishing foundations shouldn’t be allowed because only elite oligarchs can establish one.

  • Nostradamus

    Yep, I think we are finally getting very close to the real crash. The stock market has been down for 2 consecutive days now & will probly rise to new record highs tomorrow. That doesn’t even matter. The stock market is based on false hopes.

  • Chris Reeves

    Americans live by the sword (capitalism) and will die by the sword. Is is perpetual in motion, business in the US moves to Asia to save costs = US citizens lose their jobs = jobs are lost due to lost business = business cut costs by moving to Asia = the loop starts again. The other part of the motion is US citizens lose their job = less taxes for government = more welfare payouts, it will bring the government to its knees eventually. A new technology/industry needs to be created that the USA champions to get them out of this crisis, the robotic one is taken by Japan, the US could do something like space tourism, they have the expertise from the “space race”… Don’t blame Globalism, you are just watching capitalism in practise!

    • Jeffersonian_Libertarian

      Capitalism is NOT the problem. Crony capitalism, where the government picks who wins and who loses is what has driven the country into the proverbial crapper. Regulations stifle new businesses. Taxes, fees, mandated this and required that are killing small businesses. We own a small business and planned to hire 2 sales people about 2 years ago but ended up using subcontractors instead. Think of it this way; if you run a local manufacturing business are you likely to be on a first name basis with your Senator or Congress critter? No. If you run a multinational corporation that makes a competitive product you not only know them by first name you are called to help compose new regulations that stifle the small business, for a large fee, of course. We have the best government money can buy. That is the problem.

      • swampwiz

        So what’s the difference between “hiring” someone as an employee or as a subcontractor?

        • Jeffersonian_Libertarian

          There are a lot of differences, like payroll taxes state and federal, unemployment insurance, health insurance, FICA not to mention that if I cancel a subcontractor’s contract they presumably have other contracts to fall back on. A subcontractor is responsible to take care of all of the above mentioned government mandated requirements not me.

    • Bearparadigm

      What you have in the US is NOT capitalism. It is called fascism when political decisions are made that benefit the few on the expense of the many.

      The system of lobbyist in the US is the problem,

  • Boo-urns The Wise One

    Insane Founder Church, vomiting all over the comments with his koo-koo-bananas nonsense. Michael bans me, but lets Founder continue?

  • Orange Jean

    Your comments about the places going out of business was interesting. Some of that is just because they were not paying attention to the needs of their customers.

    I like very much the way one of my local grocery stores has handled things – brilliant marketing I think. When I first moved here, they were called Food Lion – and were the go to place for low income people and those who were looking for bargins. About 3-4 years ago they decided they needed to go “upscale”, renovated their stores, renamed them “Bloom” and carried quite a few fancier items as well as the basics. Nice renovations. BUT, as soon as they started seeing signs the economy was about to tank… they “downs scaled” the stores, changed them back to Food Lion (same company both times), had a huge sale to get rid of the excess fancy stuff… and restocked with a higher percent of basics. I think they are still doing well, they are always busy on the weekends! I shop there when I can, besides they always had better produce… tho I wish they still sold coffee by the cup for when you’re shopping.

    Poor Abe I’m afraid is simply getting the shaft due to age
    discrimination… I’ve seen a lot of it, normal problem if you are
    needing a new job after 50 at least. If you’re young, you probably don’t
    see it, or think it’s justified. Not necessarily so…

  • ben

    Wow, according to this chart, things really fell off the cliff in 2008. I wonder what happened in 2008?

  • Lexxs

    Once people understand that government is basically a livestock management program, and fewer livestock are needed thanks to technology and offshoring, then the situation becomes clear.

    Those who spent their young years between the end of WWII and 2005 had the privilege of enjoying the brief middle class years of the United States. That lifestyle is gone forever.

  • Bearparadigm

    “Buhu, the foreigners are taking our jobs”

    “Buhu, Warren Buffet, the capitalist pig, is anti-patriotic because he is moving jobs abroad”

    “Globalism is bad for US”

    100 years ago and earlier, globalism was good for the US, and Europe was busy creating trade barries against competition from this “emerging economy”. Today, when the internet and electronic communication has enabled global supply chains and production, shifting demand for unqualified, less productive labour, globalization has suddenly become the Beast in the Revelation.

    Dude, instead of critisizing globalization, which is promoting global welfare development, you should be attacking
    those who steal from those who save and destroy capital formation by stimultating deployment of funds into un-productive assets – e.g. the entire financial sector lobby that is ultimately responsible for the money printing carried out since the days of Richard Nixon. They are the
    real culprits responsible for the destruction of American jobs and overall labour productivity, seen by inflation adjusted household incomes reducing over the last 13 years.

    And while you are at it, don’t forget the medical lobby, responsible for the reduction in the supply of doctors and the dramatic increase in healthcare cost to the detriment of welfare for the poor, or the prison lobby, responsible for the United States having the highest incarceration rates in the world and the unproductive and highly costly “war on drugs”, or the lobby of weapon producers, highly influential in the initiation of the smaller wars the US has been engaged in.

    Your real problem is that your country is working for Big Money, not to the welfare of the population.

    As for “poor Abe Gorelick”, who is working three jobs – I’ll bet you a dollar that his standards of living and income is at least 5 times higher than those of the hondurian workers who will get employed in your Fruits of the Loom factory example.

    His real problem is the life-long conditioning he has been exposed to by Big Money, telling him what he needs to consume not to feel poor in America. So, I am not crying for him either.

  • swampwiz

    Yes, Warren Buffet wants to eliminate “good” working class jobs. (I don’t think that line workers at a clothing factory are doing all that well …) But he is also someone that is an advocate for a much more enhanced social welfare state, funded by very high tax rates on extraordinarily wealthy men like himself. The way he sees it, it is better for a company to strive for productivity, and if that means not enough work, tax the owners of that company to redistribute the profits.

    The only problem now is that there is still a cognitive disconnect between conservative’s idea of the free market being the absolute best mechanism to improve wealth and the opposing force that higher productivity be definition means less jobs – the two ideas are completely disjoint. Then throw in the unemployed morality meme that “able bodied” folks must have work to get any redistribution, and the result is a brutish Dickensian social system that blames the unemployed for there not being enough work around – which enough folks who do happen to have decent jobs (or a decent nest egg to retire on), and the “working us” can be politically dominant over the “lazy ‘moocher’ them”.

    Of course, the more that waves upon waves or workers get thrown out of work, the more that these workers will begin to appreciate the necessity of some type of redistributive economy, thereby effecting political change (political change derives from the receipt of the pink slip). We are just now in the transition..

  • swampwiz

    So Fruit of the Loom would rather hire folks that don’t have as nice a civilized society as us?

  • isnamthere

    You lose all credibility here because you mention Warren Buffet and not the Koch bros. or any of the many other CONSERVATIVE wealthy magnates who ship jobs over seas. If you’re not really interested in the jobs problem but just want to bash the left, why bother?

    • K2

      while koch bros dint ship jobs overseas, other conservatives did. He should have mentioned that. I agree.

      Everybody who is responsible for outsourcing should be named, whether they are liberal or conservative.

      • sharonsj

        Mitt Romney’s group bought Delphi, the car parts supplier, closed all their plants and shipped them out of the country…. Just a little zinger for the folks who think Romney as president would have been a good thing.

        • K2

          I never thought he will be a good president in terms of turning around the economic situation of most people)

        • windskisong

          I didn’t think he was the best choice, but he also saved many more jobs than the current president, and created many more by building up failing businesses. Cherry picking specific cases doesn’t help your argument.

  • K2

    Regulations exist even in the honduras. The problem is the wages there are very low.

  • swannyww

    Start your own business.

    • DerpDerp

      Yea, good luck with that. More than half of new businesses fail in the first 3 years. Plus the cost of opening a new business nowadays is prohibitively expensive.

  • Casino666

    If we take a look from top and look down, what do we see? We see our old customers filled up with debt, not a place where its a lot of money to be made..! But if we look further away, we see a lot of customers who wants a lot of what we sell..! We can look at China, Africa and many other places! A whole lot of money to be made! A lot!

    This has been going on for many years, not only in the US, but most of the western World! Those who run this companies, they could not care less for those who work for them! There is no Obamacare in Hounduras or those other countries…! Less regulations, and a lot more possibilities.

    Thats the way it is, and more of the same to come! And there is nothing we can do about it except adjust! The survival of the fittest…!

    Its not all about the bottom line, even if thats important! But if your potential customers are broke or filled up with debt, you have to adjust and search for a new marked.

    It does not look good for most of us..! The petro-dollar is dying in front of our eyes, except a lot higher prices for all imported goods.., which is a lot of stuff! Combine that with lower income, Obamacare and a lot of people without any job at all..! Ask yourself; What can I do?

    Forget about getting a job, there is none! So again, ask yourself; what can I do? If you think outside the Box, there is probably a lot of good answers to that question!

    Whish you all the best!

  • Christer Larsson

    The Focus is on wrong things. If you want to your citizens competing about textile jobs that the poorest countries in the world also compete for you can not at the same time wonder why your people are getting poorer. The american people need better education to be able to compete about better paying jobs. In Scandinavia where I live we lost our textile factories in the 70s and started to work with something paying better.

  • sharonsj

    If the Jamestown workers were smart, they’d band together and keep the machinery from being shipped out, no matter what it took. Too many of us are allowing the corporations to trample on us–and don’t expect our lousy politicians to stop the bleeding.

  • Bobby

    Globalism vs. Nationalism. simple as that. If Americans want their nation back and centered on Main Street insteaad of Wall Street, they know what they must do, (of course they won’t), buy local instead of Coke, Pepsi,etc. Demand by civil unrest if neccessary, and end to all immigration for at least 10 years. Semand a TOTAL end to illegal immigration. Demand One official language, English. Any foreign items get an import tax, becaue there is no “”free market”, when everyone else taxes American products, but we don’t reciprocate. No more Wall Marts, or any other stores stocked with 100 percent goods from China. Alll traitors, shot by a firing squad. Ten years of this, and America MIGHT get back on its feet.

    • windskisong

      High, punitive tariffs + a Fair Tax would help

  • ron17571

    NAFTA! Jobs have been leaving for years for cheap labor and little regulations.What did our leaders figure would take their place? It sounds simplistic,but it needs to be made here and sold here.Let those companys overseas,sell there and help those people.My kids school is pushing math.We only need so many scientist and engineers. If you step back and look hard,its like our government is doing all it can to destroy the country.

  • wallowy

    The man used to work and the wife stayed home, then, the wife had to go to work to make the bills and have a life, then the husband and wife- both working, had to start a strict budget, and now some kids are moving back in with their older parents or old parents moving in with their kids.
    All the while, the government is spending right and left, giving billions to other countries, expanding even more departments of the government, the president taking 1,2,4 million dollar vacations, and no end in site for increased taxes to pay for their extravagant living.
    There must be a purpose for all of this as planned by the government and it is working.
    I believe in Karma, and those who have caused pain and hardships while living high will soon have it come back to them even worse than they afflicted. The mental torture will be horrendous.
    Perhaps I’m no better than them for hoping so?

  • frank1569

    ‘Sadly, the cold, hard reality of the matter is that the U.S. economy will never produce enough jobs for everyone ever again.’

    Then, if ‘we all have a responsibility to our fellow citizens,’ the only solution is some sort of Americanized version of Socialism, right? We can’t just ignore 10 to 20 million desperate, starving fellow citizens and hope they go away or die or whatever, right?

  • fafa

    Stop making 3 to 4 kids, you will live better, and start working like your ancestor, by yourself to bring food and water in a community

    • Fafa

      Go south where you don’t need heat

      • MUZIKJOCK

        seriously? so the electricity it takes to run your a/c doesnt cost anything? what a moron. also, it can get 100+ in dallas tx for a period of up to 6 weeks, historically. and at the same time in jan and feb dip to as low as the teens….no heat you say? where do you live? im guessing you don’t live in the south….the only places where you conceivably live with no heat might be San Diego California: and if you want to live in that bankrupt state, be my guest….it sounds like you deserve to live there

    • FafA

      Go live in the south where there is no heat cost

  • Vinnie Bertollini

    Batton down the hatches boys and goyim! Don’t, worry about saving or a better job. Worry about how you are going to keep what you have!

  • art simpson

    Whenever a factory abandons a town, like Fruit of the Loom or any other product in any other town: Those fired workers should together, start their own company making the same type product under a different name. They have the skills, the expertise the knowledge to make the same product and own the company. Work for free to begin with, but don’t stop doing what they know. Skivvies USA would be a good name. Use it.

  • Brother Tim

    I’m wondering what will the American people do? Will they continue to support big companies by buying their products. Like Nike, Apple computer and so many other companies that have shut down jobs and moved to other countries. It drives me crazy when I see people standing in line for their new products. We can all make a protest by stop supporting them until they start making products here in America again. If not what are we going to do. I’ll tell you the truth they just don’t care what happens to us, we are the ones that have to care and start working together. If we are not going to come together to remove the federal reserve bank, we can at least stop supporting them while they destroy our country.

    • windskisong

      So if we want the neat new gizmos, where do we get them? They’re not made here. The offshoring is complete. I’d love to buy American – that’s why my last two cars have been built more in the U.S. than any American brand (Toyota and VW). – but certain industries just aren’t here. How do we bring them back? Tariffs? Fair Tax? Shut down the regulatory state?

  • Mystick

    It’s a downward spiral…. the more it crumbles, the faster it falls. There’s only a few outcomes for even our present situation – without more decay – and none of them are status quo ante.

    Something will happen – something MUST happen – to change things. It might be a political paradigm shift(paradigm fracture, really) that severs the saturated links between commerce and politics. It might be a shift that further embeds commerce in politics. The latter is pretty much a fascist state. The former, a purge of the current government at all levels.

    Either way, there is blood in our future.

  • nekksys

    Could it be the indifference we see in the American worker today is actually a display of how keenly aware our workers are of the corruption and greed in corporate America???

    Just a thought…

  • Bruce

    As I commented on the previous article greed is the culprit, it has consumed our morality, future and hope!

  • MUZIKJOCK

    radio shack needs to go out of business. seriously? they havent been competitive in the electronics industry since tandy took them over in the early 70’s when they used to be “allied radio”. i saw them go from offering the most compelling electronics components and audio you could find any where else, to a glorified toy store for last minute christmas shopping. radio shack would be the last place i would shop for anything. they deserve to go under…

  • Piglet

    “In business school, they teach you that the sole responsibility of a corporation is to maximize wealth for the shareholders.”

    I got a BS in Business Management in 1982 and an MBA a decade later and that is exactly what they say you must do as a businessman. All of the other considerations (impact on people’s lives, responsibility to the community, etc.) is considered to be fluff and not your problem. I was never in a position in which I was expected to do as Buffett is doing in Kentucky, and I know that if I were to have my job cut at age 57, I too would be SOL like Abe in the article above.

  • Chocolatini

    eBay used to have a main call centre in Burnaby, BC, Canada. I had a friend who used to work there.

    The company closed down the call centre, laying off hundreds of employees.

    The company office closure and layoffs were announced in our local paper, a paper owned by a huge media conglomerate.
    Comments from the company were carefully chosen, right from their PR or communications department, which alluded jobs would be sent back to U.S. locations.

    My friend, who was filipino, told me the other side of the story.
    They asked her whether she wanted to relocate to their new call centre in the Phillipines. That’s where all the jobs were going.

    Lying corporations.
    A media atmosphere that is too scared to do investigative reports, instead choosing to publish verbatim press releases.
    And politicians who don’t have long-term plans — only plans up to the next election.

  • Chocolatini

    What a stupid comment.

    Read a book.

  • Bob

    What are you guys talking about. My stocks are at all time highs and I’m shopping for a new yacht. You guys are such a bunch of glass half empty types.

  • I just want a liveable wage

    I posted this in your other article at the daily sheeple but it warrants posting here:

    “Technology, outsourcing, a growing temp staffing industry,…”

    “I’m
    on the board of directors of a temp staffing company with one billion
    dollars in revenues. I can see it happening across every sector of the
    economy. Everyone is getting fired. Everyone is toilet paper now.”

    Temporary
    staffing… Oh yes, I am very familiar with this recently. 8 years ago I
    got a job in customer service, I interviewed with the telecom, their HR
    rep, Management, face to face. 4 years later I moved cities and
    interviewed for another CSR job, face to face, no staffing agency
    necessary. Year and a half later I moved away again fora short stint,
    but have recently come back to the city I took the second CSR job in.

    This
    go around none of my interviews were with the actual company doing the
    hiring. EVERY resume response was from the typical insurance sales
    position which is a scam, but the other startling thing was that every
    other company responding was some kind of staffing agency. They were the
    ones putting the ad’s up for the jobs, but when they contact you I’d
    say 75% of the time they were not actually offering that position but
    instead reviewing you for candidacy of other positions. I think about 8
    different staffing agencies contacted me, and only 2 of them actually
    offered me a position that I had applied for, the others asked for me to
    wait until they find something. They never found something.

    The
    employer that I work for now, hired me off of just a phone call
    interview with someone who isn’t even HR or a manager just someone doing
    their grunt work. I was hired without a face to face interview, by a
    staffing agency in New Jersey, not even local to me in my state. At
    first I thought it was a scam but it turned out legitimate. However the
    over arching problem is the fact that these staffing agencies are
    dominating the markets of jobs in larger cities.

    No
    longer are you hired on permanently by companies, you are instead
    offered lowered wages due to paying the staffing agencies the real wage,
    12-18month contracts from the staffers with a “hope” of permanent sign
    on. Companies will literally focus entirely on the reasons why they will
    can you in a heartbeat because you aren’t a real employee, and you
    can’t even put the major corporation on your resume because they will
    deny your existence since you are an “independent contractor”. So
    instead of being hired on with real benefits and time off, at a wage of
    around 17$ like I should be making for this position, I am only making
    13.50$. I can only sustain this thanks to my wife’s income as well,
    otherwise I would be struggling hard to do anything but work, eat, and
    pay for transportation and housing.

    The job
    market, and the economy are not improving as we are so want to describe,
    and it will take a COMPLETE overhaul of all the current policies and
    trends in order to fix this, and unfortunately are so trusted
    ‘officials’ who represent us will be very unlikely to actually fight for
    these causes.

  • GlockG22shoots40s

    Retail losses is a lagging indicator of the failure of manufacturing in America. All those jobs have left, people don’t have money to buy nice things, stores can’t sell merchandise, they owe bills on inventory, time to close. It is going to get worse before it gets better. Our politicians still see nothing wrong with NAFTA and other similar treaties they have and are working to put in place. When you spend all of your money overseas, you soon run out. It’s really quite simple.

  • Realist

    “Thanks to the offshoring of millions of jobs, the replacement of millions of workers with technology and the overall weakness of the U.S. economy, the percentage of Americans that are actually working is significantly lower than it was when this century began.”

    Which underscores the obviously desperate “need” for a continuing flood of unskilled immigrant labor to drive down the wages across the board for all jobs that do still exist. That Americans are having their country stolen from right underneath them by power-hungry, greedy and remorseless scumbags is bad enough, but for those Americans to be fearful of and intimidated by the accusations hurled at them by the paid media aparatchiks of the oligarchs is quite another. This is, quite literally a war.

    • carpe diem 36

      for those who do not understand economics and who demand that the “rich pay their fair share” this is the direct result, they flee high taxes and leave the workers behind. Anyone who thinks that high taxes be fair see the results.

  • Doc

    Having read this I am bloody depressed… I currently work as a remote paramedic oversea’s. I’m a sub-contractor as thats the only way I can get a paycheck, usually 6 weeks on and 6 weeks off, usually in some area where there is wars or unrest, places where no sane person would go willingly, then there is the fact that I am away from the ones I love, but I’m lucky because I actually have a job, it pays decent but again I could like a lot of people here lose it.
    As a contractor I will sometimes goes for as long as 3 months without a paycheck, thank the father my wife has a decent paying job.
    I worry about my sons, both in college studying computer science, worry that they might not be able to find work when they finish, luckily my wife and I decided that family is the most important thing so we pay for them, I don’t want my children starting out in life strapped with huge amounts of debt, as it is they live at home because we can’t see the good in them paying for apartments, electricity, gas, food etcetera.. that limited their choices of college, but God bless them both, they work part time, one in as a waiter the other teaching kindergarten..

    I like most folks here am angry at the government, they sold their souls to the highest bidder, such stupidity, don’t they realize by outsourcing jobs they are emptying their own pockets, what idiots, if we don’t have jobs then how the hell are we going to buy their foreign made crap…

    I think there are dark days ahead for all of us, its scary, I have been to war 3 times, I have seen the face of death and its obscene.
    Thats where we are headed, the people will rise up, maybe not today, or next year but its coming, all the foul ingredients are right there in Washington… greed and immorality the driving forces that turn our representatives into sociopaths, the lack of empathy for their fellow American is outrageous..
    Bless you all.
    Doc:

  • your canadian neighbour

    keep taking your jobs to other countries just to save a dollar. Greed has been one of the USA biggest downfall. Who cares how big your house is, or how many cars you have!! The Amercian dream was built on hard work and discipline, and ethics. Now what is there left, people that will be suffering. They didnt ask for the Suffering American dream. Maybe your leaders should go spend a few days living on the streets, get a real taste of reality!

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