America's middle class was outsourced to India and China for greedy CEOs to pay themselves millions in salary & bonuses (Congress, ethical)
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I am uneasy with the blame being thrown around here.
To blame greedy CEOs for reducing costs and maximizing profit, a position they are legally obliged to take in a publicly traded company, is a little absurd.
People, in general, are greedy. If you don't believe me, look at the label on your shoes. Look at the label on your electronics. Maybe one percent can say, "All my things say Made in America.".
The reason for this is that foreign made goods are cheaper. Rather than pay a higher price, many simply go for the best quality at the lowest price, regardless of who made it.
If the public purchases from companies that outsource their labor because it's cheaper, other companies will need to compete or simply fail as a company. Either way, jobs are lost to the local economy.
If you and your friends want to turn this around, insist on only purchasing from American-made brands. If you don't, then you are just as guilty as the CEO for outsourcing jobs and just as culpable for signing that pink slip to the American worker that he is. That isn't a popular truth, but it is the truth.
You should also point out that the largest profit center in the GE conglomorate is GE Financial which accounts for more than half of GE's profits. So GE is now more like JP Morgan Chase or CitiGroup than what its once was in the 1970s. You don't think they would want to compete with the likes of Siemans (Germany), Mitsubishi (Japan), Haier (China) or Hyundai (Korea), really. GE is putting the finishing touches on a plant to make locomotives for the World's largest rail system mostly built since 1995. GE financed it for their Chinese partners and its large enough to make all the locomotives needed in China and also the North American market. So guess all those guys in Erie PA who just love making locomotives are going to be **** of of luck.
Excellent post.
I would note though that GE Financial is why their stock is where it is and why they had to go beg cash off Buffet. Having seen their "management" first hand when they lost their shirt in the insurance biz, you can't trust them with anything that is long term and financially *unknown* as it's just too easy to bully your way to "good numbers" and then jumping ship up the corporate ladder to watch it explode in the face of the next sucker. (I still HIGHLY doubt they've taken all the accounting losses from their CMO's and are just paying them down over time.)
So, sorry for the sidebar but GE Financial makes A LOT of money but only if you don't net off the enormous losses they've incurred here and there when they got greedy and wayyy in over their head.
Obama appointed Immelt to head his job creation council. What a joke. Immelt is head of GE, who has been outsourcing jobs to Mexico and China, as are other members.
Jobs are a zero-sum game. Take jobs from bucket A (America) and put them in bucket I (India) and bucket C (China) and you have net loss of jobs and the money that goes with them. You can mask the problem for a few years with 'quantitative easing', code for massive borrowing from the private 'Fed' bankers, and pretend that new jobs in alternative energy will replace the millions that have already left. The fact is that the jobs are gone and will not return, and we are sinking fast from the gaping hole in our economy. India and China were poor agrarian countries. When you look at them today their cities rival our own.
The problem is that CEOs have all the motivation in the world to cut costs in order to claim the title of 'genius' and give themselves outlandish rewards, and this is exactly what has happened.
Dollars are no longer based on a tangible commodity such as gold, but are used as compensation for work. A dollar is a work unit. Some earn 7 work units an hour while others make 500 work units an hour.
Work units are handed out to many without the benefit to society of any work produced, ie, welfare, food stamps, medicaid, section 8, etc. This results in having those who actually earn the work credits to pay for these in tax dollars.
Those who have the most money seem to be the ones who cry the loudest about the taxes they have to pay. This is in direct correlation to the feelings of 'privilege' they carry with them - that somehow they are in the world to enjoy it and be served by others because they are 'superior' to others.
The results is that the 'middle' is shrinking, while the lower class is growing. The 1% wealthy class is not growing, but is amassing more in terms of dollars. They tend to hoard the money instead of spreading it throughout the economy like the middle do, which creates a drag on the economy. They are not job creators, and many of the wealthy are upper management who are the first in line to outsource in order to boost their bottom line.
As a business owner, my job is to maximize profits in a legal way.
My job is not to give someone else a job.
My job is to make the most profit as possible, with the resources I have at my fingertips.
Employees will never understand this.... EVER.
A smart person once said, "You will hear a loud sucking sound and that will be jobs leaving America".
Blame the Progressive world government, you have been led to believe you elected. Not the business owners, playing by the rules.
Do a little research yourself about, the Council on Foreign Relations
Yes now you get it- disloyal and traitorous corporations have abandoned their origins and the people that built them up...
At whose request?
You must not have read this post:
Quote:
Originally Posted by CDusr
Quote:
Originally Posted by InformedConsent
Not quite. Seems CalPERS (and others like them), one of the biggest investors in the U.S., DEMANDS that CEOs manage their corporations more effectively and profitably. They need a high rate of return on their investments so that retirees' pensions can be paid. Business Ownership & Labor Day
And please don't forget that everyone of those publicly traded companies is share holder controlled by govt investment funds. The govt sent those jobs overseas to increase their bottom line. Whether you see a dime of it or not is irrelevant to them. CAFR summary: why can't a $600B ‘fund’ fund $27B pension, $16B budget deficit?
To blame greedy CEOs for reducing costs and maximizing profit, a position they are legally obliged to take in a publicly traded company, is a little absurd.
Some of us know that. Liberals don't. Not sure why... Easily brainwashed? Eager to believe feel-good but factually false propaganda? Failure to learn and understand facts? Refusal to think for themselves? Could be any or all of the above.
Jobs are a zero-sum game. Take jobs from bucket A (America) and put them in bucket I (India) and bucket C (China) and you have net loss of jobs and the money that goes with them. You can mask the problem for a few years with 'quantitative easing', code for massive borrowing from the private 'Fed' bankers, and pretend that new jobs in alternative energy will replace the millions that have already left. The fact is that the jobs are gone and will not return, and we are sinking fast from the gaping hole in our economy. India and China were poor agrarian countries. When you look at them today their cities rival our own.
The problem is that CEOs have all the motivation in the world to cut costs in order to claim the title of 'genius' and give themselves outlandish rewards, and this is exactly what has happened.
Dollars are no longer based on a tangible commodity such as gold, but are used as compensation for work. A dollar is a work unit. Some earn 7 work units an hour while others make 500 work units an hour.
Work units are handed out to many without the benefit to society of any work produced, ie, welfare, food stamps, medicaid, section 8, etc. This results in having those who actually earn the work credits to pay for these in tax dollars.
Those who have the most money seem to be the ones who cry the loudest about the taxes they have to pay. This is in direct correlation to the feelings of 'privilege' they carry with them - that somehow they are in the world to enjoy it and be served by others because they are 'superior' to others.
The results is that the 'middle' is shrinking, while the lower class is growing. The 1% wealthy class is not growing, but is amassing more in terms of dollars. They tend to hoard the money instead of spreading it throughout the economy like the middle do, which creates a drag on the economy. They are not job creators, and many of the wealthy are upper management who are the first in line to outsource in order to boost their bottom line.
Bingo!
Glad to see that someone gets it.
And, by the way, this has been going on for many years with near full support from both Republicans and Democrats.
Libs can thank their idol, Bill Clinton for the defection of jobs from the US. Ol' Ross Perot was correct about the "sucking noise".
I actually had a poster here claim NAFTA was signed by George Bush.
The only people that really opposed NAFTA was a smallish group of democrats.
Almost all the Reps voted for it but the big-name Dems that signed it and then got a free pass from the unions etc. was stunning. A HUGE blow to private unions and middle class workers signed by Clinton, Kennedy, Kerry, Biden and much much more. Every presidential ticket the Dems have put forth since Clinton left office has had a NAFTA signer on it.
Hey, I expect the reps to screw unions....just not the dems. But oh well, the stupid sheep deserve what they get because they never broke ranks over the betrayal and helped back people like the dems that opposed NAFTA.
...the big-name Dems that signed it and then got a free pass from the unions etc. was stunning. A HUGE blow to private unions and middle class workers signed by Clinton, Kennedy, Kerry, Biden and much much more. Every presidential ticket the Dems have put forth since Clinton left office has had a NAFTA signer on it.
I don't get that, either.
But they sure are whining about no jobs, now.
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