U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 01-10-2009, 12:00 PM
 
Location: Seattle, WA
209 posts, read 380,513 times
Reputation: 83
Lightbulb John McLaughlin’s of “The McLaughlin Group” comments against the farse of Globalism

http://www.harrywalker.com/photos/McLaughlin_John.jpg (broken link)
MR. MCLAUGHLIN: “Macro-prediction: 2009 will be the year when it will gradually dawn on U.S. policymakers that the cause of the global economic crisis is globalism itself. The premise that, as we shifted jobs to developing countries, new jobs would develop here to replace them is false. It is not possible to shift production jobs and service jobs to low-cost countries without hollowing out the purchasing power of the middle class. The torture question is, once policymakers realize the global economic system is unsustainable, what will replace it?”


[URL Mod cut

Last edited by Waterlily; 01-11-2009 at 01:36 AM.. Reason: copyright issues
Reply With Quote Quick reply to this message

 
Old 01-10-2009, 03:27 PM
 
1,677 posts, read 2,775,675 times
Reputation: 1312
It’s remarkable how these “highly educated” people thought that eliminating the fuel(manufacturing jobs) that ran this country would some how work.
Reply With Quote Quick reply to this message
 
Old 01-10-2009, 03:35 PM
 
2,423 posts, read 2,077,987 times
Reputation: 1888
Would you happen to have a direct link to this transcript? Your link leads to someone's blog.
Reply With Quote Quick reply to this message
 
Old 01-10-2009, 03:37 PM
 
40,871 posts, read 42,111,031 times
Reputation: 12248
In the end just like the industrial revolution they had little to do with it. Theyt really could do not about glaobalization which satrtede back in the post war days. it was just the fact that then we suppied most of the goods.
Reply With Quote Quick reply to this message
 
Old 01-10-2009, 03:51 PM
 
Location: Seattle, WA
209 posts, read 380,513 times
Reputation: 83
Quote:
Originally Posted by trishguard View Post
Would you happen to have a direct link to this transcript? Your link leads to someone's blog.
It's actually my blog that I write on daily, here is the transcript of the 01/03/2009 Show: The McLaughlin Group Library : Transcript
Reply With Quote Quick reply to this message
 
Old 01-10-2009, 04:16 PM
 
2,423 posts, read 2,077,987 times
Reputation: 1888
Quote:
Originally Posted by BankREO View Post
It's actually my blog that I write on daily, here is the transcript of the 01/03/2009 Show: The McLaughlin Group Library : Transcript
Thank you!
Reply With Quote Quick reply to this message
 
Old 01-10-2009, 11:12 PM
 
Location: Seattle, WA
209 posts, read 380,513 times
Reputation: 83
Quote:
Originally Posted by trishguard View Post
Thank you!
No problem, this type of information needs to be spread around. Free trade is a farse, its more about fair trade that does not destroy the middle class.
Reply With Quote Quick reply to this message
 
Old 01-11-2009, 04:22 PM
 
Location: Rockland County New York
2,984 posts, read 3,465,744 times
Reputation: 1238
Red there were highly educated people who spoke up against this nonsense back in the late 1980s and 1990s. The problem was they did not get the attention of the media. My economic professor spent an entire session on globalization and NAFTA when I was a college student in the early 1990s. He said it would be the ruin of the middle class and our economic system. For the last 15 years I have seen his prediction come true. What can replace the lost jobs? The same jobs we lost over the last years. Remember Ross Perot? He may have been a crazy kind of guy but he was right about globalization.












//
Reply With Quote Quick reply to this message
 
Old 01-11-2009, 04:38 PM
 
Location: Seattle, WA
209 posts, read 380,513 times
Reputation: 83
Quote:
Originally Posted by Stac2007 View Post
Red there were highly educated people who spoke up against this nonsense back in the late 1980s and 1990s. The problem was they did not get the attention of the media. My economic professor spent an entire session on globalization and NAFTA when I was a college student in the early 1990s. He said it would be the ruin of the middle class and our economic system. For the last 15 years I have seen his prediction come true. What can replace the lost jobs? The same jobs we lost over the last years. Remember Ross Perot? He may have been a crazy kind of guy but he was right about globalization.
//
The problem is that in free-trade the people who control the capital get this most rewards through increase of profits but it is bad for the workers because they are now competing with people in countries that have a much lower standard of living. In this type of environment, the employer is transferring the wage from the higher paid work to the company's profit margin. That reduces the income of the worker and that reduces his spending in the national economy and that reduces the standard of living. How our corporate compensation system is setup, this type of activity is good for business and that increases the bonuses that given out and that creates an incentive. Almost a 100% of all our companies are in some sort of corporate formation.
Reply With Quote Quick reply to this message
 
Old 01-12-2009, 09:16 AM
 
16,623 posts, read 12,950,255 times
Reputation: 11399
So, in other words, the big problem is that Americans are not inventing anything useful that our foreign competitors cannot.

Somehow, in my mind, this globalization problem is interrelated with the policy of 'recession-postponing' that we have been pursuing. Aren't recessions useful for structural changes in the economy?

I just can't help but think that globalization is inevitable, and the real "problem" is that we have done a terrible job of adapting our labor force to it. As someone who isn't too far out of college, it seems like we're producing an entire generation of lawyers, insurance agents, bankers, and real estate agents.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $79,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6.

© 2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top