The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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Where Are The Jobs?

Most Americans don't really care about the economic minutiae that many of us who study the U.S. economy love to pour over.  When it comes to the economy, the typical American citizen just wants to be able to get a good job, make a decent living and put bread on the table for the family.  For generations, this arrangement has worked out quite well.  The U.S. economy has provided large numbers of middle class jobs and the American people have worked hard and have helped this nation prosper like no other.  But now people are starting to notice that something has shifted.  Millions of people are looking around and are realizing that the jobs that are supposed to be there are not there anymore.  The American people are still working hard (and in many cases harder than ever) but all of that hard work is producing fewer and fewer rewards.  Often politicians will placate voters by telling them that they are working harder and harder for less and less.  That tends to ring true with voters because that is a very accurate description of what so many of them are actually experiencing, but what the politicians don't tell us is that they are the ones to blame for the situation that we are in.  As millions of jobs become obsolete because of technology and millions of other jobs are shipped overseas, our politicians tell us over and over that we can "compete" with anyone and that if we will just go out and get some more education we can make it happen.  But those of us who are extremely over-educated know what a fraud that line is.  The truth is that there are not nearly enough jobs for all of us no matter how "educated" we are.  This is creating a lot of anger and frustration, and now even the IMF is warning that we could see "an explosion of social unrest" if high unemployment persists.

But what can be done?  You can't force large corporations to hire people.  The reality is that there are a couple of huge factors that have brought us to this point.  First of all, advanced technology means that big corporations need fewer people to do the same amount of work now.  Secondly, the globalization of our economy means that U.S. workers have now been merged into a global labor pool where they are in direct competition with workers who are more than happy to make less than a dollar an hour on the other side of the world.

This all means that the labor of American workers is less valuable to global corporations than it ever has been before.  Advanced technology and computers have enabled corporations to operate leaner and meaner.  If they do need some old-fashioned muscle for certain tasks they can always run out and set up a facility in some third world nation where they can pay people close to slave labor wages and where they don't have to worry much about taxes, regulations, unions, health benefits or pension plans.  

What did you think was going to happen when the United States entered into all of these "free trade" agreements with nations around the world that did not have minimum wage laws?

U.S. corporations are not in existence to provide the American people with jobs.  They are in existence to make money.  If they can make more money by shipping jobs overseas, then that is exactly what they are going to do.

According to Tax Notes, between 1999 and 2008 employment at the foreign affiliates of U.S. parent companies skyrocketed 30 percent to 10.1 million. During that same time period, U.S. employment at American multinational corporations declined 8 percent to 21.1 million.

Are you starting to see the picture?

Global corporations based in the U.S. have been creating lots of jobs - just not in the United States.

In fact, things only seem to be accelerating.

In 2008 alone, U.S. employment at American multinational corporations fell by 445,500.

In the old days, you could give tax breaks to U.S. firms and that would spur them to do more business and to hire more workers.  But today, if U.S. multinationals decide they wish to expand they will just go hire more third world workers and pocket the rest of the profits for themselves.

The reality is that we are facing a very disturbing long-term trend in the United States.  Today, over half of all unemployed workers in the United States have been out of work for over six months.  In fact, the duration of unemployment in the United States has spiked up to the highest level it has been at since World War II.

This has created a growing subclass of people in the United States who feel that the system has failed them.  The anger and the frustration in the country is rising every day.  You can almost feel it.

In fact, the IMF is warning that we are at risk of "an explosion of social unrest" due to this unemployment crisis.

The head of the IMF, Dominique Strauss-Kahn, recently made the following statement at an Oslo jobs summit with the International Labour Federation....

"The labour market is in dire straits. The Great Recession has left behind a waste land of unemployment."

So exactly what is going to turn that around?

Are millions of jobs going to suddenly hop up and return home from overseas?

Is the U.S. government going to suddenly eliminate a whole raft of taxes and regulations and are U.S. workers going to suddenly become much cheaper?

Is the U.S. trade deficit crisis suddenly going to reverse and turn into huge trade surpluses for the United States?

Of course none of those things is going to happen.

America is going to continue to bleed jobs, wages inside the United States are going to continue to be forced down and the standard of living for most Americans is going to continue to deteriorate.

Plus, if the American people don't have good jobs, they can't buy homes.  In fact, a growing number of Americans are finding out that they can't even afford the homes they are in right now.  CNBC is reporting that the nation's banks repossessed a record number of homes in August.

But for many Americans, a foreclosure is just the beginning of their problems.  People are falling out of the middle class at an alarming rate.  Approximately 45 million Americans were living in poverty during 2009.  That is an absolutely astounding figure.

The American people are getting mad and faith in the economy is plummeting.  According to Gallup, confidence in the economy is way down compared to to the same period last year.

So what is going to happen when (not if) things get even worse?

Well, some investors are already anticipating rough times ahead and are flocking to commodities.  The price of gold soared to a record intra-day high of $1,276.50 an ounce on Tuesday, and the price of gold and other commodities will probably continue to climb as economies around the world continue to destabilize.

These are very, very difficult times that we are moving into.  There are not going to be nearly enough jobs for everyone.  People you know are going to be unemployed.  People you know are going to lose their homes.  People you know might even end up living on the streets.

Just hope that you don't end up being one of them.

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  • Something Wicked This Way Comes

    This blog is correct. We have lost 20 million jobs. Ten million overseas and in Mexico, and the great recession has hacked away 10 million more domestic jobs. Unemployment figures are completely fraudulent. Go to shadow government statistics to learn why.

    Twenty million jobs gone.

    Banks and the Federal government are tip toeing right now. There are 800,000 strategic defaults on home loans. Owners refusing to pay their mortgage. This shadow inventory keeps increasing and it is taking banks upwards of 500 days to foreclose on homeowners. Why?

    They don’t want to book the losses for accounting reasons. They don’t want to flood the market with supply and drive the cost of their homes down. (and make no mistake about it, banks are the owners)

    All the banks are doing is taking free money from the FED- buying US treasuries and repairing bankrupt balance sheets- and praying that with enough time- the economy will turn around.

    It’s not going to happen. There are no jobs. What jobs do exist are are being given to the lowest bidder. House prices have to drop another 30% and no amount of trickery is going to stop this from happening.

    People have quit paying the banks. The banks are stuck with an enormous inventory of houses. Ultimately they are screwed…

    and I say screw banks like they screwed us. And screw Paulson.

    Do not believe any of the regurgitated crap the Mainstream Media tells you. That “garbage in garbage out” info is furnished by the same government that is trying to conceal the truth about this economy. It cannot be trusted nor is it true. This is not a double dip recession…we never have gotten out of the first one. And make no mistake about it—this is a depression—no matter how much fiat money they keep giving away.

  • tyler

    US corporations might not need americans to build their products but they sure need us to buy their products. Take gerald celentes advice and buy American if you can find anything made here. Golds been the best investment of the last decade but silver will be this decades best investment.

  • Michael

    Things that need to be done if the US is to avoid becoming a 3rd world country by 2015:

    1. Immediately end the wars in Iraq and Afghanistan and close all of our bases in the world. Use the troops to protect our southern border. This will also give our foreign creditors reason to believe we are fiscally responsible.

    2. Cut all foreign aid, especially to Israel.

    3. Legalize drugs and free all non-violent offenders. Let the gov’t sell drugs and use the money to help reduce our deficit.

    4. Cut benefits and deport all illegals.

    5. Re-enact Glass Steagall.

    6. Repeal NAFTA and favored trading partner status for China. China, Japan and others will likely retaliate by dumping their dollar holdings and/or cutting off credit. If this happens, the US will be forced to print money, thus destroying our currency.

    7. Punish companies that outsource with progressive taxation. The more a company outsources, the higher its tax rate.

    8. Eliminate the H1B and L1 visas.

  • mbabsit

    One of the things you left out is that corporations tend to treat whatever Americans are left like so many mules. There has been this tendency since the 1980′s for employees to “multitask,” that is do things that were not in their job description. When I worked as a bookkeeper, I found that I had to write and implement “programs” (actually, “hot keys”) in LOTUS 1-2-3 and Excel, as well as be an on-site IT trainer. This was all for the good, as I found that, the more software I knew, the more I was in demand.

    Also left out is the plight of the small businesses. I had the displeasure of seeing two small businesses that I dealt with go under this year. Others, that had been in business for years, also failed this year. Often small business people are called “rich” by socialists, communists, unions, and other trash. Actually, the small business people, operating as either a single proprietorship or partnership, have an income that is NOT separated from their personal income. Business income is seen as personal by the cowardly IRS. Moreover, many small business people CANNOT take those nice, juicy deductions by larger companies, as they are bullied by the IRS into either dropping the deduction, or risking an audit. Thus, small businesses are forced to shell out MORE than the large corporations.

    Now, if you really want a job, don’t scream the Osambo mantra of “spread the wealth.” The small businesses are currently barely hanging on no thanks to your “messiah’s” tax increases and the rotten economy that he and his fellow incompetents made. Scream at Osambo, who is in the pocket of the large corporations, as well as well as Billyfruit Clinton, on whose WATCH many corporations began to outsource in large numbers. Also, rail against the Civil “Rights” Act of 1964, which forces small businesses to hire inferior material in the name of “fairness” and who can’t fire such garbage under the threat of “discrimination,” instead of hiring the best and brightest.

  • Lennie Pike

    Nothing will change without an explosion of social unrest. Vote? Why?

    The solution is simple. Have the social unrest, then manufacture here, and then sell what is manufactured here. That is what the exporting countries are soon going to be doing and the change of positions will be complete until they become non-vigilant like us and allow our imports into their countries manufactured with our slave labor. The only difference might be that we will have Red Army troops as factory supervisors and they’ll probably be wearing sky blue berets, and that cycle will never be repeated again.

    Why go through the process for no reason. Answer: Either so that a few can get very wealthy very fast at every one else’s expense, or because they are being allowed to so that the United States will be destroyed. The U.S is the only country that has to be for there to be a NWO i.e. many small weapons and people who will use them to defend the Constitution legally.

    The sad thing is that if we do take our country back, that they will get us from afar. But it is worth the fight. what other choice is there? Prison is not for Americans.

    As for now, we do not need trade, that has already been proven and at a time when everything was the best it ever was in the U.S. Sure, we had a lot of trade, but without it the average American still would have had the same standard of living because they bought American goods.

    We can not trade any longer unless we want to be Third World, that is more than obvious, and we don’t even have anywhere close to fair trade in the first place. The traitors profiting can profit more (only in the short run but they don’t care) with trade agreements rigged to benefit the exporters. I call them traitors because nothing is destroying the country more than this, although there are some close seconds.

    After the social unrest, and the importing has ceased, these people should be given the option to leave to live in the countries they supported instead of receiving the punishment for treason. That punishment does not fit the crime in this case, but it’s close, and it still depends on how they handle the social unrest. If they put up much of a fight, I would change my mind on that one.

  • http://none s4riii

    Everything you say is true but your conclusion does not ned to be. We are no longer in a growth economy or world. Globalism is going to choke itself to death. If you have lost your job you need to look at how to recast yourself into a world were you can produce what is needed locally with locally available material and make sure you include the highest quality possible. Look at barter and trade to get what you need and sell for what cash will be required to operate in this new environment. We are going to need to change the ENTIRE tax regime to support this new reality.

  • http://www.homeloanpresident.com Mark Lieberman

    The corporations are in the “Greed is Good” mode…But don’t think for a moment that they will win in the end. The corporations want to produce products for next to nothing, but still sell them at top retail prices. This when nobody has any money spend? It’s a “Corporate Delusion” They will have to redece their prices for the current and future market conditions. Still please tell me who will buy their products at 50 cents when nobody has 50 cents in their pockets?

  • http://thisistheendoftheworld.com Steve Thomas

    Well, thankfully the Republicans are helping out with the dilemma. Check out this New York Times post to see how a certain Republican from Arizona is kick-starting employment, while simultaneously destroying democracy…

    Great post as usual.

  • Lennie Pike

    I smell a big fat dirty infiltrator rat with the introduction blatant bigotry to this site for the first time from mbabsit.

    Do you moonlight at Tea Party rallies holding signs that offend? Not that I’m much of a believer in the Tea Party.

    Something Wicked This Way Comes, and Michael nailed it.

  • kolchack

    @Lennie Pike – “We can not trade any longer unless we want to be Third World, that is more than obvious, and we don’t even have anywhere close to fair trade in the first place.”

    So I guess that means no more oil imports? If so, say goodbye to 2/3rds of the oil we use and about that percentage of economic activity in the U.S.

    I don’t say that as a slam. The fact is Peak Oil will ensure that the U.S. becomes a third world country no matter WHAT we do. We should prepare ourselves now for a low energy future, because it’s coming whether we like it or not.

  • Lennie Pike

    That is except for Michael’s #2. Let’s support Israel, it’s just that it’s not necessary to destroy the U.S. and enslave the entire World to do it.

  • Steve

    Funny, yesterday on the evening news Best Buy announced a 250 Million Dollar profit…I just don’t get it…It makes no sense.

  • Steve

    Michael, I thought we eliminated the Nazis and their racist regieme.

  • coal

    Seems to me, the powers to be are fleecing the North American people for all that they are worth for today and future generations. They have milked it dry and used it up and one day, will throw it away. They have emerging economies in Asia and other parts of the world where thier populations are the next set of consmers.
    They all want cars, cellphones and tv’s, we don’t make any of that stuff for them to consume so we are out of the loop. We have nothing to offer.
    If we are the largest consumer on the earth right now, why can’t we put up a virtual wall around North America, nothing in and nothing out. Figuring we need another industrial revolution in this country, get our people back to work manufacturing our goods that we consume.
    No imports and no exports, bring our troops home and keep our money here. Don’t we have enough here to keep our poplulace content. I think we do.
    When you run down to Walmart and find that there is no t shirts to be bought due to the new rules of nothing in and nothing out, well someone out there that has a sense of business, , uhm no t shirts to be had, maybe I should open a t shirt factory and hire my unemployed neighbours and sell t shirts. The Gov should back these people too, how can it fail, over 300 million people to sell t shirts too, and all within our borders. Just like it used to be, it worked too did’nt it.

    Figure it out people, deduce it down too, you have a island and your the president, you have 100 people on your island. All your people have to produce something. lets say one person is a baker and is making bread for the rest of the people on the island. Someone decides to import bread instead of buying locally. Well the baker goes out of business. Now he can’t pay his bills or buy products from the other people on the island.
    Do this over and over, till it ends up, that there is no money to buy anything.
    That folks, is where we are now. If there was no such thing as easy credit, well this would have happened many years ago. Credit just kept the insanity going and going.

    But none of that will happen, it has failed, whether by design or greed, it does not matter, it has failed and its not going to get better. Your seeing right now, the failure, how many people out of work, how many homes foreclosing, how many factories closed and closing, how much debt both personal and public. How many laws and regulations. How much in taxes, your free as long as you pay and pay more and are compliant with all the rules laws and regulations.

  • http://Illegalimmigrantstakeatleast8millionjobs Line in the Sand

    Across the country, more than 7.7 million illegal immigrants have jobs while more than 13 million Americans do not (sources below). The jobs in the in United States should go to the citizens and legal immigrants first!

    Why doesn’t your blog mention this aspect of the jobs problem?

    http://www.numbersusa.com/content/files/pdf/Putting%20Americans%20Back%20to%20Work(2).pdf

    http://www.numbersusa.com/content/nusablog/beckr/april-3-2009/663000-us-jobs-lost-march-138000-more-foreign-workers-given-work-permits

  • Net Observer

    In my view the key is in the ‘debt puzzle’. If we take a look at http://www.usdebtclock.org the first thing that we can see is that the debt is growing along a time exponent (of the compound interest) and that the world is getting poorer and poorer.
    Maybe it’s high time for somebody to take this seriously and to do something on the issue.
    Let me explain.
    If A owes 100 (billion dollars) to B, B owes 200 to C, and C owes 300 to A, the gross debt is 600.
    But 100 could be erased from the equation without any problems and the relations will remain virtually the same.
    After deleting 100 A owes nothing to B, B owes 100 to C, and C owes 200 to A. The gross debt is reduced to 300 but remains actually the same.
    All that is needed is an expert system (software) to find the merry-go-round and to delete what it can.

  • SpreadtheWealth-NOT

    These job migrations overseas seem inevitable with the gravitic stresses of growing technology and automation. Establishing artificial barriers would hinder US companies while offering no hindrance to foreign competitors. The inevitable result would be a loss of market share and possible bankruptcy or takeovers by foreign owned entities. Who would benefit there? A few politicians and their political cronies? What are we trying to aim for: the rise of a Ross Perot?

    This isn’t the most popular opinion on this blog but…perhaps the solution is to do nothing and let the world reach a new labor balance. We may all have to adjust to a lower standard of living for some time. Angry denunciations of corporate greed, flailing arms and shaking fists should not bring us to embrace statist control. True freedom, after all, involves the liberty to fail and fall behind.

  • Lennie Pike

    kolchak :

    natural gas

  • Johnny

    First off, this is a great post. Thanks.

    Second, it is sad to see that such a worthy blog has attracted a reactionary, racist weenie like “mbabsit.”

    Finally, while Michael’s idea re: Israel is expressed in an axe-grinding way, I don’t believe it is anti-Semitic per se. Billions a year in aid to a first-world economy has never made sense to me, especially since our close relationship with Israel is arguably contrary to our national interest (see the book “The Israel Lobby”).

  • Something Wicked This Way Comes

    Mike;

    That illegal immigrants are taking American jobs is a slippery slope.

    Americans don’t want back breaking work picking crops. And I’ve not been able to find any reliable breakdowns on oil field jobs, farm jobs, or any other sector data where illegal aliens have taken jobs Americans would take.

    Obviously, construction jobs are a moot issue. Not to mention Mike dodges the whole illegal alien racist issue which some lame ass always brings up.

    If you really want your blood to boil, read “More Sunshine and Rainbows” here…

    http://thecivillibertarian.blogspot.com/

  • Lennie Pike

    kolchak,

    Even if the world peak oil thing is true, and I’m no expert but I suspect that it is not and even have suspicions that there is enough oil in the U.S. to last for a long time, we could easily convert to natural gas which we will never be short of. Internal combustion engines can easily be converted to run on it and I do know something about that. They are the main thing we use oil for. We mainly use coal for generating electricity and we will never be short of that either. We may stop using natural gas and coal but we will never be run out before we do stop using them.

    I think there is more profit to be made by importing oil and staying off of natural gas and that is the main reason we (and there is no “we” by they way but you hear it a lot) import it.

    At least “we” ought to at least stop exporting a lot of oil before we start worrying there won’t be enough to import.

    Even though T. Boone Pickens owns a lot of Natural Gas leases or what ever it is he owns, he is right – Natural gas is the perfect answer to importing oil.

    Something else that needs to be reformed is who gets the rights to all of that mineral wealth underground and for how much since a lot of it is the property of all Americans. I think a lot of that property is being stolen by a few as usual. The big energy corporations have their bribed agent politicians in D.C. helping them out with that at everyone else’s expense. I think every American ought to get a check in the mail from energy companies, especially for what is taken from wells in the ocean where no one owns the property and from Federal Land.

    This sounds like it’s coming from a Socialist, but I am just the opposite. Fair is fair and Free Market Capitalism requires a fair and level playing field to be fair and to thrive. It collapses without one.

  • Lennie Pike

    coal:

    diamond !!!

  • James Anderson

    The underlying fact in all of that that no one talks about is that energy is the real cost and workhorse of every activity, manufacturing, farming, housing, living, etc.

    As long as we are dependent on unstable and increasingly expensive petroleum for energy we are screwed.

    Meanwhile the US alone throws away 15 trillion dollars worth of free energy every year that could be made from the existing organic wastes if they were put into the newer high efficiency digestors such as the ORB systems from Applied Ecotechnics (which use the new siemens generators)

    So what would 15 trillion a year do for the US economy and job rate. I’m sure you can figure that one out. Similar numbers apply to every country in the world.

  • El Pollo de Oro

    In the future, The Banana Republic of America (previously known as the USA) can look forward to two growth industries: kidnapping and bodyguards. Kidnapping is a major problem in Mexico, Brazil, Venezuela and other Latin American countries where there is a huge disparity between the ultra-rich minority and the other 95% of the population. And as the BRA becomes more and more of a Third World economy and millions of people become increasingly desperate, kidnapping will become as pandemic here as it is in much of Latin America–where people of means have bodyguards because they live in constant fear of being kidnapped. How bad is the kidnapping epidemic in parts of Latin America? So bad that in São Paulo, Brazil, it isn’t uncommon for affluent businessmen to travel from skyscraper to skyscraper by helicopter because they’re more likely get kidnapped on the streets.

    Of course, the vast majority of poor people in Latin America are not criminals. But inevitably, there are also those who get sick to death of barely surviving and resort to crime–and Gerald Celente speaks the truth when he says that kidnappings will become as pandemic in the BRA as they are in Mexico City. Unfortunately, less tax revenue for law enforcement agencies in the BRA means that they will have fewer resources to combat all the kidnapping.

    Here’s another growth industry for the BRA: drug trafficking. The drug cartels that have been sending Mexico’s murder rate through the roof will be more than happy to expand their operations north of the border–and a lot of poor, desperate, hungry, unemployed Americans who used to be middle class will be willing to work for them if it could mean getting back into the middle class. Desperate people do desperate things, and there is going to be plenty of desperation in the BRA.

    So get ready to live in a very violent and dangerous country. The future will be truly hellish in this Third World nightmare called The Banana Republic of America.

  • David

    Capitan Kirk; It is Scotty

    We no longer have control of the ship!

  • Sammyone

    Gold plated chicken

    Do not call my country a banana republic. We are going to clean up our southern border sooner than you think. And then all of your little mule buddies will be smoking holes in the ground.

    Maybe you want to be in a banana republic. Then go. Or stay. But shut up with your name calling.

  • James Cannon

    The main trading partners of the US used to be Mexico and Canada. This employed Mexicans to work in their own country instead of ours. Presidents from Nixon on decided they’d rather do business with the People’s Republic of China.

    China is unstable itself, they will crack up once their consumer markets in the west dry up and crumble to dust. Riots and strikes are commonplace in China. The process we see at work today in the US is identical to what is taking place everywhere. Austerity begets more austerity begets more austerity. The entire world is in an economic race to the bottom. Poverty figures cannot be trusted. Blaming illegal immigrants at a time when immigration to the US is declining is foolish. As is blaming US aid to Israel, which stands at a paltry few billion a year at this point. What is eating the capital of the US away? What has flushed our country down the toilet? Spending over $6 trillion on wars in Iraq and Afghanistan is what is killing the US. The military spending for the wars comes on top of the massive yearly expenditures on what is euphemistically termed “national defense”. Since when have these people ever defended us? They didn’t defend us in Pearl Harbor, and they didn’t defend us in 9/11. The military isn’t about national defense, it’s about bombing people in foreign countries and taking their resources for Unocal. It was these wars that destabilized the world markets for oil, and thus destabilized the dollar which used to dominate in the exchanges in the trade of oil. Blaming one political party or another is misguided as they both have the same foreign policy and the same economic policy. Ask yourself why taxes go up under the GOP and the DP alike, while basic services get cut under both. The problem is those who have the capital to invest wont invest it in anything that creates jobs. There is a solution to that but since advocating a revolution is illegal in the US so I’ll just leave that as implied.

    We don’t have to give into this hysteria about the coming social chaos if we work stick together and learn to stick up for each other for a change, as opposed to being helpless isolated angry individualists in a world where individuals clearly don’t count. With a little self-organization we wouldn’t have to tolerate or accept any of this as inevitable. Crime in the US is down, as is immigration. People are poorer than they’ve been in decades. Maybe we could stop preparing for the “end times” and start fighting back against the thieves and the thugs who rule over us and wave flags in our faces and pretend to be patriotic.

  • http://thegreatrecessionconspiracy.blogspot.com James Taylor

    All of those people who continually complain about shipping jobs over seas always neglect the other side of the coin. In Alabama, Hyundai, MB,Honda and Toyota have auto plants. In Georgia there is Kia. In Indiana, there are Honda, Toyota, Subaru and Mazda plants. Kentucky has a Toyota plant while Minnesota has a Mazda plant. Mississippi has Toyota and Nissan plants. Missouri, a Subaru; Ohio, a Honda, South Carolina, a BMW plant, Tennessee, a Nissan plant and Texas has a Toyota plant.

    These auto plants employ 441,989 Americans who get good pay, health and retirement benefits, and none of those jobs are going anywhere, and local taxes are staying right there.

    And for a point of reference, there are a total of 205,962 auto jobs in Michigan.

    The U.S. has a healthy auto industry that makes cars Americans want to buy. It just ain’t in Detroit anymore, but it is not overseas.

    As several people have observed, “You can have your opinions, you just can’t have your own facts.”

  • Gary

    El Pollo de Oro-You are so right. I really appreciate your insight!

  • That Gonzo Guy

    “Secondly, the globalization of our economy means that U.S. workers have now been merged into a global labor pool…”

    Globalization is not a national strategy

    “This all means that the labor of American workers is less valuable to global corporations than it ever has been before.”

    This answer is an over-simplification. GDP per capita is just as high in Germany as it is in the U.S. But exports per capita from Germany are nearly 3 times as high. German unemployment is far lower.

    The explanation that Americans are “less valuable” does not exactly hold up. German labor is in fact “more” valuable despite the fact that Germany has a number of superior social programs that the U.S. does not have. Obviously they’re doing something right. Their public policy does not lead to massive mal-distribution while the U.S. public policy (the Bush tax cuts for the rich) directly contributes to it.

  • Save the Republic

    Spreadthewealth-

    It sounds like you are heavily invested in the cardboard box market, a promising alternative to the higher standard of living homes that we now inhabit

    Sammyone-

    Do not be so puffed up with pride. The great America that once was has become a cesspool, filled with people who are only interested in pleasing themselves, regardless of the impact on anyone or anything else. We have a citizenry that is too lazy and self-absorbed to even vote (not to mention that those who do usually can’t think for themselves, but have to be told by a “party” or the media who to vote for). We have a citizenry that is so lustful that it would rather destroy their families and kill their unborn children than to deny itself sexual promiscuity. Greed is so rampant that people will even go as far as killing their own family members to get what they want. Politicians and big businessmen are at the top, perfectly willing to poison us, lie to us, and cheat us in order to feed their greed and lust for power. The politicians sell their favor to the highest bidder (which the citizens aren’t). We have a society that worships the god of TV, where people will spend more time with it than all of the other relationships in their life combined. El Pollo is speaking truth, whether you believe it or not. The evidence surrounds you, but you have to look with open and unbiased eyes to see it. El Pollo is sounding a warning explaining how we are making the same mistakes of other countries that have taken the same path we are on, and shouldn’t be denigrated for it.

  • Net Observer

    These talks about stealing jobs, exporting jobs are just fables. It is all about money, and it is not the large corporations that are to be blamed, but rather the villains at the stock exchange, presenting themselves as investors.
    For example, let say you are a large Airway Company, with hard working employees for many years on end and you are doing well for decades and there comes some ‘investor’ on the stock exchange and calculates that you worth much more dead than alive – from this moment you become DOA from any point of view.
    At first he buys the stocks of the company, then with some sophisticated people like himself organises naked short selling or any other ‘investment scheme’ making millions and bringing the company into ruins. After that follows bankruptcy, and public sale of the airplanes, destinations, real estates all over the world, selling of the pension fund to some other ‘enterprising investors’ who on their part send it into the ‘Dimension X’ (making money of this), and so on.
    It doesn’t matter how hard and how ‘soft’ you are working – it is all about fast and easy money.

  • El Pollo de Oro

    Sammyone: if spewing that “neoconservative” (more like PSEUDO-conservative) nonsense makes you feel better, then have fun living in your little fantasy world. Have fun starving while the corporate ruling class gets richer and richer and millions of newly poor Americans become increasingly desperate. Have fun worshipping your corporate slavemaster while he keeps you on a dog leash and makes you bark for him, but whether you like it or not, shoeshine boy, the reality is that the former USA has acquired the characteristics of a Third World banana republic. And you can thank all the globalists and neocons who destroyed the American middle class, exported American jobs to Third World countries, raped the U.S. dollar and created millions of newly poor people. You sound like a typical neocon, in which case, you have no one but yourself to blame for the BRA’s globalist nightmare. Maybe guys like you should have heeded the warning when Ross Perot denounced the evils of globalism and talked about that “giant sucking sound” of American jobs being lost to Third World countries. Maybe you should be listening to Ron Paul, Gerald Celente and Alex Jones instead of getting your talking points from the “neoconservative” scoundrels who turned us into a dysfunctional banana republic.

    Yeah, I know, you’re an “American exceptionalist.” Bla bla bla. Face reality: we’re screwed.

  • El Pollo de Oro

    Save the Republic: Gracias, jefe! So-called “American exceptionalists” like Sammyone are great at shouting “USA! USA! Rah rah rah!” while the house is burning down. The harsh reality is that life is getting worse and worse for the vast majority of people in this country, and everyone from liberal Arianna Huffington to a libertarian like Gerald Celente realizes that economically, the former USA is looking a lot like a Third World country these days. Matter of fact, Huffington’s new book is titled “Third World America.” But clueless “American exceptionalists” like Sammyone will get a brutal dose of reality when they’re either: (1) cold, poor, broke, desperate and hungry, or (2) being kidnapped or mugged by those who are cold, poor, broke, desperate and hungry. Welcome to La República Banana de América, a.k.a. “Barrio Tepito Norte.” Orale, guay!

  • El Pollo de Oro

    Save the Republic: By the way, if any of these “American exceptionalists” show up on my doorstep bleeding to death from a gunshot wound or a stabbing that occurred during a Caracas-style mugging in the BRA (banana republics can get pretty rough, you know), I will gladly call 911. Only problem is that with the municipalities strapped for tax revenue thanks to all the job losses, 911 might not pick up. Que lástima, guay.

  • Sammyone

    I look forward to when some of those Mex gangster show up in my area, I can’t wait to use some of my new toys for real.

    Don’t get hysterical, Chicken, I’m sure you’re happy to stay inside with the rest of the fowl.

  • lostinmissouri

    Shrink Washington! Cut the Federal government down to 25% of it’s size. End the public school system, including state colleges.

    End the endless regulations placed on business,and the stupid environmental regulations, that caused our industries and our farmers, to leave for freer places.

    Let the American entrepreneur spirit loose, free of the shackles of government control, and then, you will find more jobs here, than people to fill them! just my 2 cents.

  • El Pollo de Oro

    Gary: Gracias and grazie! I’ve been reading your comments on how underemployed you are given your skills and education, and sadly, that’s all too common these days. For example, I know a business lawyer in New York City who used to make 90K and is now planning to apply for entry-level work at a Target that is opening in his area. That says it all right there. That type of scenario was unheard of back in the 1950s, 1960s and 1970s, when the USA was still the USA and had a strong middle class. But that was before globalism and so-called “neoconservatism” declared war on the American middle class.

    Sammyone: Yeah, suuuuuuuuuuuuuuuuuuuuure you’ll be ready for a gun battle with the Mexican drug cartels when they show up on your door. Why, I bet you think you could take on Los Zeta or El Cartel Sinaloense or La Familia Michoacana with one hand tied behind your back. Don’t make me laugh, ese! You’ll be wearing a giant sombrero, cooking gorditas, singing corridos and dancing the polka to Los Tucanes de Tijuana. Your new name will be “El Gringo Mas Mexicano.” What’s that? You say you don’t want to compete with low-paid workers in Mexico, India or China? Too bad. Neocon pendejos like you should have thought of that before you signed on for globalist hell and spit on the flag you claim to love. Orale!

  • Sammyone

    Chicken

    You hope for American disintegration. You will never have spurs.

  • El Pollo de Oro

    Sammyone: No, cabrón, I’m hoping to PREVENT American disintegration. Acknowledging that the patient is very, very sick is not the same as saying that I want the patient to be sick. I want the patient (that would be The Banana Republic of America) to get better, not worse. Now run along, Shoeshine Boy–your corporate slavemaster needs his boots licked.

  • Sammyone

    Pullet,

    Your denigration of America’s name belies your profession of concern for her health. Your insincerity is evinced by your abuse of that which is dear to all patriots. You are a charlatan and a fraud. Clean up your act and show respect or shut up.

  • http://users.beagle.com.au/peterl P.M.Lawrence

    For generations, this arrangement has worked out quite well. The U.S. economy has provided large numbers of middle class jobs and the American people have worked hard and have helped this nation prosper like no other.

    That’s pretty poor historical memory. It really only applied definitively in 1910-1930 and 1960-2000 (leaving out years when other countries were held back by the effects of war so the US economy as such wasn’t the cause of the advantage, and boundary years when it’s unclear whether the USA had pulled ahead – it certainly hadn’t in the late 19th century, when Australia had a higher standard of living).

    But what can be done? You can’t force large corporations to hire people.

    No, but you can correct today’s poor incentives. See my comment here.

  • Tom

    mbabsit is just another far right tea bagger trying to take freedom from others to feel adequate. The uneducated knuckle draggin religous righters are holding us back.

    They would be my first target in the revolution. They are the true evil.

  • El Pollo de Oro

    Sammyone: I hear the sound of footsteps. Who could that be? Oh yes, it’s your corporate neocon slavemaster. He needs his boots licked. Better get that tongue ready, Shoeshine Boy.

  • clarence swinney

    Excellent comments.
    copied to read in bed

    My 2 pennies worth

    1993-2000 There was a shortage of help.
    Help wanted signs all over america
    Start far above min wage.

    What happened in 2000′s?

    In 8 of Bush We lost 8M in Depressive Recession.
    Lost 2,300,000 shipped to just China.
    Lost 6 Million by failure to create enough jobs to keep up with new entries. Derivatives Result.
    Bush got 31,000 Per month or 69,000 short of new entries. 6M.
    8 + 6 +2.3= 16.3 M Jobs= 5% unemployment

    1%=1.4 Million jobs

    Low as 3.9% under Clinton.

    Why? 31,000? Derivatives trumped Stocks.
    Rich put money into get rich fast schemes

    In past invested in Stocks to build new industries, new firms, expand current firms and create jobs as in 1990s..

    Housing Waste of Labor, materials, capital building homes too large and too expensive for Middle Class. All time disgrace.Frenzy fed Greed.
    Premise:Housing always appreciates in value.
    Sun always rises in East. Somewhere.
    Swinney always breaks par. Sometimes.
    Janmes Pressman in 1990s. “Dow will break 35,000″. He is now a Professor?

    Derivatives=Horror for Workers.
    No Value Added to Standard of Living.
    Lowers velocity of money in the economy.
    Lowers investments in assets.

    olduglymeanhonest

  • Jer

    If wages keep going down and everyone´s tossed out of their homes, prices will have to come down or there will be no money moving at all except amongst the upper classes. If prices don´t come down, then the poor and newly poor are out of the economic scene altogether and indeed the BRA will look like many SA countries where anyone with a home or a car or even a decent set of clothes will be under constant surveillance by the local mafia for fleecing or kidnapping. It´s a hell of a life – visit one of those countries and talk to anyone with a steady job and ask them if they enjoy not going out at night, paying continuously for protection at home, in the neighborhood and at work. Ask them what precautions they have to take before visiting their bank. The only advantage of life there is that if they make enough they´re probably paying no taxes, but that´s what taxes are supposed to cover, the infrastructure and overall security through the police and justice system. If it´s all privatized or abolished, you have to take the time to negotiate with many people so you can do ordinary things, at least things that we and most europeans consider ordinary, like take your children to school. Because without any government support, the poor will get what they need out of the rest of us one way or another. Ultimately that´s why most governments (not ours) see about protecting the unskilled labor sector. We chose a better way (send them all into the military) and now we´re going to see our lives transformed into something we haven´t seen for a hundred years in the US (except maybe in the old south). Of course none of this bothers the ueber-rich, they´ve been living in a bubble for millenia and nothing ever changes for them.

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