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Corporate profits are up. Stock prices are up. So why isn't anyone hiring?
Actually, many American companies are -- just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.
More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.
Coca-Cola CEO Muhtar Kent often points out that a billion consumers will enter the middle class during the coming decade, mostly in Africa, China and India. He is aggressively targeting those markets. Of Coke's 93,000 global employees, less than 13 percent were in the U.S. in 2009, down from 19 percent five years ago.
Corporate profits are up. Stock prices are up. So why isn't anyone hiring?
Actually, many American companies are -- just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.
More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.
Coca-Cola CEO Muhtar Kent often points out that a billion consumers will enter the middle class during the coming decade, mostly in Africa, China and India. He is aggressively targeting those markets. Of Coke's 93,000 global employees, less than 13 percent were in the U.S. in 2009, down from 19 percent five years ago.
There is nothing surprising here. The United States has peaked as far as economic growth. We have an aging population with a employer based health insurance system, decaying infrastructure, a K-12 educational system that is less globally competitive, a consumer based economy where credit was used to make up for late of income growth with tapped out debtors, a labor force that isn't cost competitive, and a collapsed real estate market.
If you were the head of a corporation why would you invest in the United States when other countries have stronger growth opportunities and lower costs of labor?
Stock prices are up because of quantitative easing. Don't be fooled. Our economy is contracting each year.
Besides the Fed meddling, stock prices are also up because the corporations are making money outsourcing jobs to cheaper labor markets. Nothing has been put in place by this administration to slow it down either.
Corporate profits are up. Stock prices are up. So why isn't anyone hiring?
Actually, many American companies are -- just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.
More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.
Coca-Cola CEO Muhtar Kent often points out that a billion consumers will enter the middle class during the coming decade, mostly in Africa, China and India. He is aggressively targeting those markets. Of Coke's 93,000 global employees, less than 13 percent were in the U.S. in 2009, down from 19 percent five years ago.
Outsourcing is making Corporate America (aka the Republicans) even richer. They care about profit margins (increased by paying cheap foreign wages), reducing expenses (aka eliminating American jobs) and share prices (which they personally hold)....nothing more.
And just how the Republicans are able to constantly pull off the bait-n-switch with poor/working class Whites as voters (by playing the "family values" shell game) is really mind-blowing.
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