Posted on 10/21/2016 11:36:16 AM PDT by grey_whiskers
EXCERPT from middle of email chain
>> -----Original Message-----
>> From: Glenn Hutchins [mailto:glenn.hutchins@gmail.com]
>> Sent: Monday, July 6, 2015 4:33 PM
>> To: Neera Tanden
>> Cc: John D. Podesta
>> Subject: Re: my latest presentation on the economy
>>
>> you have (characteristically) gone right to the heart of the most difficult problem. In response to your specific question, over that last 15 years, the capacity of labor to demand a greater share of profits from productivity gains have been overwhelmed by several factors: 1) globalized wage competition as incomes have slowly equilibrated around the world, 2) the increasing portion of our economy that is generated by service work (as opposed to good production) that is less susceptible to productivity improvement, 3) the use of technology to generate productivity gains (so that the benefits accrue to capital rather than labor), 4) the overhang on the labor market and wages from discouraged workers who dropped out and the long-term unemployed, 5) the replacement of lost middle wage jobs with lower wage jobs, and 6) more recently, the change in the nature of work itself which is now more part-time, project (or "gig") oriented and based on an independent contractor model.
>>
>> All of this had led to both stagnant wages and rising income insecurity - both of which are far more relevant than income inequality. I think some smart candidate for public office is going to figure this out and start talking about the modern economy in a way that resonates with workers' actual experience.
>>
(Excerpt) Read more at wikileaks.org ...
*PING*
D U H !
“I think some smart candidate for public office is going to figure this out and start talking about the modern economy in a way that resonates with workers’ actual experience.”
Ooh. They just called Trump “smart”.
Globalization will enslave women ?
Killary’s Islamic girl friend’s mother advocates mutilating women’s genitalia.
Their solution? More Globalism.....
Would serve them right for her to lose.
Years ago, I worked for a big Fortune 500 company. They were moving production to Mexico and I was tasked with helping set up some of the factories (I was young and foolish, now I'd tell them to "go fish", but what's done is done...). Overall, though, it was an excellent learning experience.
Anyhow....I was working with the plant manager down there. *Important* guy, ran three enormous facilities, 1000's of people working for him. The Buck Stopped with this guy, period.
He said - these are close to his words exactly - "You can pay Americans 9 or 10 dollars an hour to do this kind of work, and they get pissed off and quit. Or you can pay Mexicans 9 or 10 dollars a day to do the same thing and they love it. Clean, Air Conditioned Work environment, Free Onsite Health Care for themselves and their families, and at $9-$10 a day, that's three times what they'd make in other jobs."
He was right - the people were great, very friendly, very polite, all the pretty girls wanted to talk to me to practice their English (I was glad to be practiced on). The plant was immaculate, you could eat off the floor, they had entire teams of people dedicated to keeping it spotless. It was a good environment, not a sweatshop in the least.
Save a bundle of money and have happy, productive workers? It's completely logical for companies to take advantage of something like that, if they're allowed. Hopefully NAFTA will be reined in under Trump.
And, as a personal anecdote, the TV where I was in Mexico was horrible. All soccer, or soap operas. That's it. And, every Soap was about doctors - you could tell because they were all walking around in white coats and stethoscopes, with a reflector strapped to their heads.... So, I need to work with the head doc at a plant. Ask for directions, workers say "He's in the back, you can't miss him." Sure enough..... White coat. Stethoscope. Reflector. I wondered if he lounged around in his living room like that.
I’ve been attacked by the armchair economists for the past few years for stating those 6 reasons why unfettered globalization is bad.
I’m saddened to see that the “smart candidate”, Trump, is being destroyed by the UniParty so they can get back to the business of cutting American’s wages.
It’s call Global Labor Arbitrage and everyone benefits but “displaced” workers, the taxpayer and the consumer. Just when will Ford announce sticker price reductions?
Trump is the bigger threat. On the right they will help the leftist install Shitlery then try to bring her down. Not matter what they will end up with a globalist shill President and congress..
Thanks for relating your experiences.
Our folks here don’t bother working because they can game the system and make more money from the government sitting on their posteriors. It’s amazing how much people on “assistance” make.
My wife and I were both making around $40k in the early 90s. Not a lot of money, but when you have two, it’s decent.
She had some people come in to put in some hours in her department. During the interview she learned that with housing assistance, cash, food stamps, and other perks, they were making more than my wife and I.
Why should they work?
We have to stop this. People should be happy to have work. Start at $9 an hour jobs and work your way up like others do.
We need to end Welfare as we know it. Give it 24-48 months, and start reducing the payout by 1/24th or 1/48th. Hopefully Trump will bring jobs back and force folks into them. Ending welfare should accomplish that.
Some will remain on welfare, but the freeloaders would be out.
Globalization means that we all have to sit in a bathtub together and share each other’s dirty bath water and we all end up dirtier than before we entered the tub.
The only countries that benefit from this policy are the 3rd world countries. It is a scheme that was concocted by the U.N.
The only way to save America from this trend is for it to leave the UN for good. Trump, as a business man, should understand this.
Has he ever mentioned getting out of the UN?
And was the price of the product that you made reduced by all of the labor cost savings that you incurred when moving down to mexico?
However, I understand that companies will use whatever edge they can get in the marketplace. If they can get labor in another country for 30c on the dollar, they can't afford not to.
Provided that the labor can perform at the same level as Americans... that's the sticky wicket.
'Nother story with WBill... I'm in IT and got outsourced a few years back. Actually, I got out the door shortly before they pulled the trigger, but the end result was the same. I'm still a bit miffed over the deal, built most of the IT systems for the place from scratch, company went from less than 10 million to over 40 million/year in my 6-7 years there, and my reward was to get replaced by H1B's....
...Except that the bargain-basement H1B's that they used *couldn't* replace me. They wound up with a team of five (5) Indians to try and do my job, and they still weren't successful. So, they wound up dumping the lot, and hiring an old-fashioned local American White Guy (like me) to do the job again. Strangely enough...he did just fine.
There is some justice, occasionally.
As I said long ago, they want Americans working for $5/hr. If at all possible. If one can even find a job in the U.S.A. at that time.
Since she knew how the system worked, she sat down and figured out that she could make $6/hour, if she just quit and collected from all of the various programs that there were.
Did she? Nope. "I can look at myself in the mirror, but those extra 2 bucks/hr sure would have helped out...."
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.