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The Bush/Obama bailout/stimulus plans are not going to work. Both are schemes hatched by a clique of financial insiders. The schemes will redistribute income and wealth from American taxpayers to the shyster banksters, who have destroyed American jobs, ruined the retirement plans of tens of millions of Americans, and worsened the situation of millions of people worldwide who naively trusted American financial institutions.
According to Pravda, “IT is a prime example. The companies used the bust to lay off hundreds of thousands of tech workers around the US and Britain, citing low profits or debt. The public as a whole accepted this, as part of the economic landscape and protests were few, especially with a prospect of the situation turning around. However, shortly after the turn around in the economy, it became very clear that there would be no turn around in the IT employment industry. Not only were companies outsourcing everything they could, under the cover of the recession, they had shipped in tens of thousands of H-1B work visaed workers who were paid on the cheap
I work in IT and saw this years ago. It's speeded up though in the last year.
I've been retraining in preparation of losing my job to a third world country..lowering the bar as you say to take a lesser paying job but in a field that has a bit more security..something you have to "touch" that can't be offshored. Lots of my friends in the IT industry are doing the same thing.
Everyone believed the CEO's when they all went to Washington begging for more H1-B's claiming there were not enough skilled workers in America.
They blamed education with not enough math/science teachers. Well, knowing that IT has been offshoring for years, why would anyone spend $$$ on a CS degree when they know they will be up against someone who will work for $25K per year or less ?
Sadly, the IT workers have no big paid off lobbyists in Washington; only the Corporates can afford that.
I got out about 5 years ago, saw the writing on the wall when the corp brought in Anderson Consulting and people started getting layed off or not replaced when they quit. The final straw was when an "android" (former consultant) was hired as CEO and chopped all benefits to nothing and created hate and discontent and started piling in the H-1B's. The upside to H-1B's and other contractors is they cost less and don't create any problems when you can 'em.
Glad I got out and will never step back in.
But don't you all remember, they all told us we don't need "those" jobs.
Globalization is a sham perpetrated by wealthy americans to exploit low cost wages in other countries to enrich a few and impoverish the majority. They replaced your job with more credit.
Ok -- all those of you complaining about offshoring: next time you go to the store, please buy only "Made in the USA" products and don't whine when they are exhorbitantly expensive.
Ok -- all those of you complaining about offshoring: next time you go to the store, please buy only "Made in the USA" products and don't whine when they are exhorbitantly expensive.
Wasn't there a family who tried this for a year and found they either couldn't do it or barely got by?
Bring manufacturing back to the states and I'll buy it!
But don't you all remember, they all told us we don't need "those" jobs.
Globalization is a sham perpetrated by wealthy americans to exploit low cost wages in other countries to enrich a few and impoverish the majority. They replaced your job with more credit.
Hi jimmyP,
I would say that pretty much explains it.
They replaced your job with more credit.
That statement is brilliant. Instead of paying for trade with product we put in on our tab. All Americans get the bill but only a few benefit. Wall Street cranks out paper with no need of middle American industry.
We have always had trade but this is not trade. We give them treasuries while they give us goods. This enables China's mercantilist policies and Wall Street pretends they produce.
We have built an economy of cheap foreign labor, a complicit and relatively wealthy export class and Wall Street finance. The losers are cheap foreign labor and American industry.
What is happening now is this is crumbling. Americans can no longer afford to buy the product and the entire market was aimed for a US market. Much of Chinese industry is aimed for export.
That statement is brilliant. Instead of paying for trade with product we put in on our tab. All Americans get the bill but only a few benefit. Wall Street cranks out paper with no need of middle American industry.
We have always had trade but this is not trade. We give them treasuries while they give us goods. This enables China's mercantilist policies and Wall Street pretends they produce.
We have built an economy of cheap foreign labor, a complicit and relatively wealthy export class and Wall Street finance. The losers are cheap foreign labor and American industry.
What is happening now is this is crumbling. Americans can no longer afford to buy the product and the entire market was aimed for a US market. Much of Chinese industry is aimed for export.
So, what to do now? Do we need a peasant revolt? I think the peasants are already revolting by defaulting, and "sticking" it to the man.
The thing is though, their "revolt" is actually killing the middle class and still doing nothing to the wealthy. Industry, small businesses, and the corporations that the middle classes rely on are just downsizing/outsourcing and reducing the incomes and the ranks of the middle class.
I think ultimately, those in the middle are going to be hurt the most. We can afford things, but are starting to see incomes shrink, jobs tossed, and the wealthy AND the poor taking our tax dollars. The middle class is going to downgrade and some fall into the poor. While the wealthy stays rich... and the poor will get their social programs
So, what to do now? Do we need a peasant revolt? I think the peasants are already revolting by defaulting, and "sticking" it to the man.
The thing is though, their "revolt" is actually killing the middle class and still doing nothing to the wealthy. Industry, small businesses, and the corporations that the middle classes rely on are just downsizing/outsourcing and reducing the incomes and the ranks of the middle class.
I think ultimately, those in the middle are going to be hurt the most. We can afford things, but are starting to see incomes shrink, jobs tossed, and the wealthy AND the poor taking our tax dollars. The middle class is going to downgrade and some fall into the poor. While the wealthy stays rich... and the poor will get their social programs
-chuck22b
This is the way its been going for quite some time. The peasent revolt is a lot more than pesants. The middle class bought into the house as atm idea and is now paying the price. Not all of the forclosures are subprime morgages. How many of them are refi's where the owner with a reasonable morgage just *had* to get at all that equity to buy toys?
Remember the ad for one of the loan companies with the guy who was "up to his eyeballs in debt"? Wasn't a peasent then but probably is now.
A lot of the middle class has long fallen offically into poverty. The difference is the identity of those who have is still middle class. Even if its been years. That is hard to erase.
Right now its pretty hard to blame anyone who hunkering down and not buying. Even those of the percent (whatever the REAL figure is) that are still okay. For how long they ask.
Unfortunately the choice with a default is to walk away and let them forclose and trash your credit, or to miss enough payments you have a hope of renegotiating and trash your credit, or just not pay those credit card bills or the ones you absolutely can't justify and trash your credit.
This hits the middle class with those credit card bills of thousands just as hard as the housing bubble.
We are heading toward a society where most of the people are poor and some of the people are a "trade" class and a few with most of the money are very rich. Its been this way for a while but this has been the final straw.
I like one idea I heard today and that was everyone should stop paying their mortgage. What are they gonna do? The banks would go Tango Uniform real quick like and that'd be that.
I think it's very possible we're headed for a "peasant revolt" but as stated above the peasants is us!
At some point the rank and file are going to get tired of paying for other's bad choices and when we start having a hard time putting food on the table and having to do without so some lowlife/free ride person or illegal can get theirs then it'll hit the fan.
The minute the majority of the so called "middle class" starts having a problem getting stuff at the store or starts getting cold in their houses 'cause they can't pay the bill you just watch how wound up they'll get.
I do think it's time to start making protest signs and getting LARGE groups together.
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