Posted on 05/31/2011 7:05:20 PM PDT by khnyny
To gaze upon the world of American corporations is to see a sunny place of terrific profits and princely bonuses. American businesses reported that third-quarter profits in 2010 rose at an annual rate of $1.659 trillion, the steepest annual surge since officials began tracking such matters 60 years ago. It was the seventh consecutive quarter in which corporate profits climbed.
Staring at such balance sheets, you might almost forget that much of the nation lives under slate-gray fiscal skies, a place of 9.4 percent unemployment and record levels of foreclosures and indebtedness.
And therein lies the enduring mystery of this Great Recession and Not So Great Recovery: Why have corporate profits (and that market thermometer, the Dow) spiked even as 15 million Americans remain mired in unemployment, a number without precedent since the Great Depression? Employment tends to lag a touch behind profit growth, but history offers few parallels to what is happening today.
Usually the business cycle is a rising-and-falling, all-boats-together phenomenon, noted J. Bradford DeLong, an economics professor at the University of California, Berkeley, and a deputy assistant secretary for economic policy in the Clinton Treasury Department. Its quite a puzzle when you have this disjunction between profits on the one hand and unemployment.
A search for answers leads in several directions. The bulls explanation, heard with more frequency these days, has the virtue of being straightforward: corporate profits are the economys pressure cooker, building and building toward an explosive burst that will lead to much hiring next year.
The December jobs numbers suggest that that moment has yet to arrive, as the nation added just 103,000 jobs, or less than the number needed to keep pace with population growth. The leisure industry and hospitals accounted for 83,000 jobs; large corporations added a tiny fraction.
(Excerpt) Read more at nytimes.com ...
He did not support it because it improved the standard of living of both trading partners or because it increased wealth in both.
His mistake was in not recognizing that free trade does not increase the antagonism between the capitalist and the worker since both profit from increased production. This was the biggest mistake he made in his economic analysis as to why the capitalist system would fall. The proletariat did not encounter the increase emiseration he predicted so the world revolution never occurred. He did recognize capitalism as the most revolutionary force in the world at that time so since free trade raised capitalism to higher heights it was revolutionary as well. He understood that it worked against the anti-democratic regimes in Europe and was destructive of repressive forces. Perhaps you don't know anything about European history in the 17th and 18th centuries and think you could drag that little bon mot into the discussion without me putting it into context and showing yet again that your argument is specious.
All you have been claiming is free trade is government sponsored or negotiated trade.
Free trade is what arises when governments get out of the way and allow individuals their freedom.
It is just as stupid to believe a “Free Trade” agreement delivers free trade as to believe the Democratic Peoples Republic of Korea is democratic or a republic. Believe me there is no free trade there either. They follow your economics of government control.
But since you produce little but hysterical hyperbole for any of your claims, I doubt you have any evidence of criminal activity. It is about as truthful as the claim that free trade is behind sex slavery.
Free trade is what arises when governments take kick backs and perks to get out of the way and allow corporations their ‘freedom’ to use slave labor, among other things.
“Free trade is what arises when governments take kick backs and perks to get out of the way and allow corporations their freedom to use slave labor, among other things.”
Totally false. No corporation uses slave labor. Nor are bribes a factor in true free trade. It is free.
It is a lie so who cares?
Total BS.
Now you are using The Guardian to carry your argument and you call ME a communist? LoL.
And it was not Wells Fargo anyway but Wachovia which was not following the law.
Posted on 08/21/2006 10:15:55 AM PDT by hedgetrimmer
The NAFTA marketplace unrestrained in the pursuit of cheap labor has driven an increasing volume of manufacturing off-shore to Communist China, where slave prison camps offer a cost of labor that is hard to beat.
Chinese made goods ranging from electronics to toys and clothes are daily sold in mass marketing retailers such as Wal-Mart, Home Depot, K-Mart, Target, Lowes, and dozens of other U.S. corporations. Cheap goods from Communist China increasingly line the shelves of the NAFTA marketplace under marquee product trade names that bear no relationship to the Chinese slave labor that manufactured, produced, or otherwise assembled the goods.
Key to this thriving under-market is a flagrant disregard for human rights, on the part of the Communist Chinese, who still permit the exploitation of slave labor. U.S. capitalists and consumers as well turn a blind eye to the human suffering and abuse involved in producing the under-market cheap goods flooding the American retail market from China.
The Chinese slave labor camps set up first under Mao in the 1950s are known as Laogai. Writing for the Human Rights Brief at American Universitys Washington College of Law, Ramin Pejan explains that the Laogai system consists of three distinct types of reform: convict labor (Laogai), re-education through labor (Laojiao), and forced job placement (Jiuye). The political nature of these Chinese prison labor camps is clear.
The PRC (Peoples Republic of China) uses Laojiao to detain individuals it feels are a threat to national security or it considers unproductive. Individuals in Laojiao may be detained for up to three years. Because those in Laojiao have not committed crimes under PRC law, they are referred to as personnel rather than prisoners and they are not entitled to judicial procedure. Instead, individuals are sent to the Laojiao following administrative sentences dispensed by local public security forces. This vague detainment policy allows the PRC to avoid allegations that the individuals arrest was politically motivated and to assert that they were arrested for reasons such as not engaging in honest pursuits or being able-bodied but refusing to work.
Pejan notes that even though they have completed their sentence some 70 percent of the prisoners are forced to live in specifically assigned locations where they continue to work in the prison camp. In a cruel slogan that brings to mind the Arbeit Mach Frei entrance to the Nazi concentration camp at Auschwitz, Penan notes that Laogai is an abbreviation for Laodong Gaizao which translates from Mandarin as reform through labor.
Despite U.S. government efforts to keep Chinese slave labor goods from entering the U.S. market, the Laogai Research Foundation maintains that China represses open investigation of forced labor camps and the practice continues:
Due to strong resistance from Western nations against forced labor products, in 1991 Chinas State Council re-emphasized the ban on the export of forced labor products and stipulated that no prison is allowed to cooperate or establish joint ventures with foreign investors. However, the State Councils move was merely a superficial one, and prisoners today still produce forced labor products in great numbers. The Chinese government grants special privileges to enterprises using labor camps and prisons, to encourage and attract foreign investment and export. Prisoners are forced to manufacture products without any payment, and are often forced to work more than 10 hours a day and sometimes even overnight. Those who cannot fulfill their tasks are beaten and tortured. The forced labor products these prisoners produce are exported throughout China and the world.
The Laogai Research Center believes that as long as the Chinese Communist Partys dictatorship exists, the Lagoai will continue to serve as its essential mechanism for suppression and prosecution. The Laogai Research Foundation documents more than 1,000 Chinese slave-labor prison camps still operating today, with a prison population estimated at several millions.
A U.S.-China Security Review Commission Policy Paper on Prison Labor and Forced Labor in China concluded that the U.S. Customs Service cannot conduct independent investigations in China to determine if goods imported into the U.S. were made in Chinese forced labor camps. Despite numerous treaties, memoranda of understanding, and laws, the Commission concluded that China simply refuses to supply the information needed to make factual determinations:
we understand that since 1996 the Customs Service has sent thirty letters to the Chinese Ministry of Justice regarding either visits or investigations of prison facilities in China that were suspected of producing goods for export to the United States. In most cases, the Chinese Ministry of Justice failed to respond to such letters.
The Customs Service has told the Commission that the difficulty in enforcing Section 307 to block the importation of goods made by prison labor in China does not arise from the U.S. statues. The difficulty arises because the PRC is not abiding by the 1992 and 1994 agreements it negotiated with the U.S. government.
The Congressional-Executive Commission on China published in its 2005 annual report a conclusion that: Forced labor is an integral part of the Chinese administrative detention system, and child labor remains a significant problem in China, despite being prohibited by law.
Just above the slave labor camps is a vast Chinese under-market where millions of Chinese work for meager wages under constantly abusive work conditions. Today China makes approximately 75 percent of the worlds toys. As noted by the Asian Human Rights Commission (AHRC), U.S. companies such as Disney, Mattel (maker of the Barbie doll), Hasbro, McDonalds (Happy Meal toys), and Warner Brothers utilize factories in China to produce toys for virtually all major U.S. retailers, including Toys-R-Us, Wal-Mart, and Target, as well as for direct marketing. Still, the AHRC documents that working conditions in the Chinese toy manufacturing industry are abysmal, just one notch above 21st century slave trade standards. Consider this AHRC description of a Chinese toy workers story:
Average age of a worker in a typical Chinese toy factory: between 12- and 15-years-old.
Typical wage of workers in Asian toy factories: from as little as 6 cents an hour up to 40 cents an hour (in U.S. dollar terms).
Typical number of hours worked in a day during busy periods: up to 19.
Typical number of days worked per week: 6.
Young workers work all day in 104-degree temperature, handling toxic glues, paints, and solvents.
Workers weakened by illness and pregnant workers, who are supposed to have legal protection, are forced to quit.
The typical profile of workers in these factories involves single young women migrants from rural areas to the cities in search of jobs. With more than 1 billion Chinese vying for an economic existence, the Chinese under-market thrives in a competitive environment of labor over-supply. One mistake, even in an abusive labor environment, can exclude a Chinese uneducated and unskilled worker from future employment, especially when thousands wait in line for the job.
Increasingly well documented is the continuing Communist Chinese persecution of Falun Gong cult practitioners. A July 2006 report released by Canadian human rights lawyer David Matas and former Canadian MP member David Kilgour has alleged continuing Communist Chinese organ harvesting achieved by murdering imprisoned Fulong Gong practitioners. The reports conclusions were clear:
We believe that there has been and continues today to be large scale organ seizures from unwilling Falun Gong practitioners.
We have concluded that the government of China and its agencies in numerous parts of the country, in particular hospitals but also detention centres and peoples courts, since 1999 have put to death a large but unknown number of Falun Gong prisoners of conscience. Their vital organs, including hearts, kidneys, livers and corneas, were virtually simultaneously seized involuntarily for sale at high prices, sometimes to foreigners, who normally face long waits for voluntary donations of such organs in their home countries.
We have previously argued that the projections of increased containers with cheap Chinese under-market goods headed for U.S. mass marketing retailers is the demand driving the construction of NAFTA super-highways and the opening up of Mexican ports as an alternative to west coast ports including Los Angeles and Long Beach. Reform the labor market in China or enforce traditional anti-dumping international trade restrictions against the entry of under-market goods and the need for NAFTA super-highways four football-fields wide open to Mexican ports operated by the Communist Chinese is largely gone.
As of yet, the black market in organ purchases has remained largely underground, hidden from public view. Today the American people remain largely unknowledgeable and/or uncaring over the massive human rights abuses in the Chinese labor under-market including slave forced prison labor, all for lower priced toys, sneakers, T-shirts, and electronics. Do we really think there will remain a bright moral line between using Chinese slave labora form of slow death for the under-market workers so abusedand outright murder of political prisoners that is required to promote an international market in human organs for the international elite with ample ready cash in hand?
Unbridled capitalism can be counted on to press for erasing national boundaries that are perceived by free trade enthusiasts as speed bumps on their way to unlimited profits. How different today are the photographs Michael Wolf has taken of under-market labor in China from the photographs of Lewis W. Hine and Jacob Riis, who documented the human exploitation we tolerated in this country prior to the rise of the U.S. labor movement?
Wells Fargo knew about it and did nothing, in fact they like the liquidity that dealing in drug money brings. They now own Wachovia.
No only sovereign laws which free traitors despise were violated.
More crap of course. Wachovia did this before Wells Fargo obtained it.
Banks, of course, have little to do with free trade in any case except in the world of delusion which you inhabit.
As miserable as the lives of the people in the article are they are better than in the rural areas they escaped.
They are not slaves.
I guess you are unaware of how miserable the lives of billions of people are in the underdeveloped world.
But you would rather whine about the loss of business and jobs because of overpaid US workers. Even if they lose their jobs they are better off than those in the third world. They don’t starve or go without help. China has no help to give.
Americans have it fantastically good compared to the countries you wish to punish by restricting trade and whom you slander by calling them “slaves”. Americans live like KINGS compared to half the world. Only in the world of the clueless is our economy as horrible as you claim even if it could be much better without a Marxist president.
These people are not poor and miserable because of trade with the West but because they are surrounded by immense poverty and misery.
BTW one of the reasons China is so poor and underdeveloped is because it never had free trade. Either the Emperors or the British completely controlled its trade. It is a perfect example of what can happen because trade is not free.
Convict labor is not slave labor. There are millions of convicts who labor in the US. Are they slaves? According to anyone other than the New Black Panther Party that is?
Once again you are attacking the instrument which can alleviate the massive human suffering in China and proposing ways to make it worse by removing the employment they can attain through freer trade.
We can agree that there are people who should not be detained in Chinese jails but we also cannot enforce Chinese law.
But we can make everything much worse by tighter controls on trade. Admit it you don’t give a crap about Chinese suffering and would like to see it worsen.
Now you are confusing free trade with anarchy.
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