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I never suggesting turning a blind eye. Legitimate businesses are doing everything to survive. The crooks are doing what they've always intended to do, if they got the opportunities. That will never change. But again, massive deregulation of the financial sector has opened pandora's box. Follow the trail...
Can you categorize "big business"??? Can you define it? How about a super conglomerate such as GE, which is involved in so many diverse sectors... Do you only blame the percentage that engages in shaddy dealings? Businesses do what they must to survive. Companies like GE have realized the money is not necessarily in providing consumer goods any more. At least not 100%. Given the opportunity, they have done what they must to survive, even if you don't find it admirable.
"Big business" in this case would refer to any company large enough to buy significant political power. So, that would include GE and similar companies. Now, I'm not saying "shut them down!" but we really do need to hold people accountable when they destroy our economy, regardless of if they are a senator or an executive.
As for big business "doing what it needs to survive," forgive me if I don't rejoice or support a future where companies survive while the working class rots in poverty. And, quite frankly, I think most of those big companies could hire more people - and thus increase demand - without putting their survival at risk. At the same time, the unemployed working class do not have that financial cushion, nor any Congressman in their pockets, so they don't have any options.
"Big business" in this case would refer to any company large enough to buy significant political power. So, that would include GE and similar companies. Now, I'm not saying "shut them down!" but we really do need to hold people accountable when they destroy our economy, regardless of if they are a senator or an executive.
As for big business "doing what it needs to survive," forgive me if I don't rejoice or support a future where companies survive while the working class rots in poverty. And, quite frankly, I think most of those big companies could hire more people - and thus increase demand - without putting their survival at risk. At the same time, the unemployed working class do not have that financial cushion, nor any Congressman in their pockets, so they don't have any options.
Yes, but you seem to think that big business depends on a strong U.S.A.. We are a consuming superpower. I do believe putting an end to our middle class will hurt for awhile. But businesses don't simply cease to exist because American's are struggling. They shift their operations to new markets if possible. If that option isn't available, they hunker down, continue to match their workforce to the demands of the free market, and life goes on.
A business if not obligated to provide you with anything other than a good/service in exchange for currency. They do not have to provide you with food or shelter. That has never been the role of business. And if you work for them, they do not have to provide you with a wage that covers your expected COL. That is just the way it goes.
. And if you work for them, they do not have to provide you with a wage that covers your expected COL. That is just the way it goes.
Perhaps so, but with the disappearance of middle class in the US leaving only the rich and the poor classes then perhaps it it time for governmental policies to help bring down that cost of living. If people cannot afford the US cost of living, then this economy of which 70% is powered by consumer spending will eventually falter, for the products they produce will not be affordable anymore to anyone except to the rich.
The government is doing all it can to keep housing prices propped up, when they probably could use more correction to reflect that there is few middle class left in the US anymore.
WASHINGTON - U.S. private employers stepped up hiring in June and the number of Americans filing new claims for jobless benefits last week fell by the most in two months, hopeful signs for the struggling labor market.
But dark clouds continue to gather over the U.S. economy, with growth in the vast services sector crawling to its slowest in nearly 2-1/2 years in June and retailers reporting sales below expectations, other data showed on Thursday.
The economy has been hit by turbulence from Europe's debt crisis and fears of tax increases at home next year, undermining confidence among businesses and ordinary Americans.
"In terms of employment, they suggest some improvement in the labor market performance relative to the month before, but nonetheless show economic activity is weakening," said Millan Mulraine, senior macro strategist at TD Securities in New York.
Private employers added 176,000 new workers to their payrolls last month, the ADP National Employment Report showed, after increasing 136,000 in May. The government will release its closely watched employment report for June on Friday.
How does that jibe with widespread reports of only 80,000 jobs added?
As for the recession "ending," when you look at root causes, globally, like Peak Oil, it would be very premature to assume that this is a temporary situation. People have short attention spans and weak cause & effect analysis, much like ignorance on what's causing fuel prices to rise and fall (Peak Oil again). Nature doesn't owe the human race endless prosperity and exponential growth.
It will NOT happen. Even using the U6 numbers, 6 in 7 Americans are gainfully, fully employed.
Maybe among the people you know. The media claims they use government figures, but basing employment on unemployment claims just doesn't work. So many are underemployed.
Yes, but you seem to think that big business depends on a strong U.S.A.. We are a consuming superpower. I do believe putting an end to our middle class will hurt for awhile. But businesses don't simply cease to exist because American's are struggling. They shift their operations to new markets if possible. If that option isn't available, they hunker down, continue to match their workforce to the demands of the free market, and life goes on.
A business if not obligated to provide you with anything other than a good/service in exchange for currency. They do not have to provide you with food or shelter. That has never been the role of business. And if you work for them, they do not have to provide you with a wage that covers your expected COL. That is just the way it goes.
So, you are saying we should just accept the destruction of the middle class - reducing tens of millions to poverty in this nation alone - just to let big business prosper? Why should we sacrifice the lives and well-being of so many people just to avoid holding business accountable?
I'm sick of listening to people claim business has no role other than profit. Considering that big business controls our society completely - all the working class has to offer is their labor to business - than, yes, business has an obligation to employ people and pay them a living wage. It would be different if we could all live on the family farm or if there was no such thing as "big business" that controlled our nation, but that is not the case. I find it amazing how extremists are so willing to heap blame upon the working class who have had their jobs taken from them, but the moment somebody becomes a corporate big-shot, they are suddenly above reproach and accountable to no one so long as they show a profit. This selfish belief system is not unlike what drives drug cartels or the slave trade in the South before the Civil War - who cares what the guys in charge do, so long as they rake in the big bucks. What a joke.
Last edited by Rambler123; 07-12-2012 at 07:42 AM..
Maybe among the people you know. The media claims they use government figures, but basing employment on unemployment claims just doesn't work. So many are underemployed.
That also ignores the declining workforce participation rate caused by forced early retirements and college graduates who cannot find a job and thus never count towards any form of unemployment. Real unemployment in this nation is probably close to 20%. Unfortunately, the "yeah for big business" crowd won't acknowledge the problems until it affects them, so they are beyond reason. Remember, big business controls everything, but owes us nothing.
Last edited by Rambler123; 07-12-2012 at 07:37 AM..
I heard the workforce participation rate is down to 58.8%. I am young I feel it will drop to 50% at some point in my lifetime. What happens when 50% of the population is not working? We are heading to a time when we will need less labor not more. The population will keep growing jobs will not. I also feel the real unemployment rate is 20% I will not go into have they cook the books with the unemployment numbers. So business may not own us a thing living wage a job nothing. But here is the thing you can fail to acknowledge the problems in the job market. Hey you can bury your head in the sand about the economy. All the underlying issues that have not been fixed for 30 years. All bubbles the trillions the fed has pumped into the economy. But when social unrest comes at some point it will affect business. And it will affect everyone one else as a nation.
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