Meanwhile the underclass keeps living like the middle class, soon to be living like the upper class.
I see, you’ve never been abroad. The US is a 3rd world country since many years. It’s only gett’in closer to you.
The author forgot one key item. It takes capital to create jobs. Unfortunately, the economic environment in the United States under this administration is terrible. It is far less risky and much more profitable to invest in off shore corporations. Their lower taxes and minimal regulations make it very attractive.
Easier to destroy the middelclass and redistribute than it is to educate and train the lower.
Is that part of the Packard Complex in Deeetroit?
I don’t care about America ‘waking up.’
I don’t care to whine about the situation.
This is all true and it is happening - I (and I assume most here) am one of the ‘awake’ — so I think my favorite topics on FR and other such forums address what independent minded people can and are DOING about it.
Good Post.
Here is a table that illustrates what has happened to the lower categories of household income in the US since 1970: incomes have increased very little while the highest category has increased significantly, and the percentage shares of aggregate US income is shifting away from the lower groups to the higher groups.
Table #693 at the link. Not the best illustration, but it does show the impact of globalization and high legal and illegal immigration on the lower and middle classes of earners:
http://www.census.gov/compendia/statab/2011/tables/11s0693.pdf
OMG!
2010 was 29% lower than 2008.
29% lower than 2007.
34% lower than 2006.
30% lower than in 2005.
Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe?
Was it after every other manufacturer of automobiles and trucks had their factories destroyed in WWII?
Those that promote "free trade" can never explain how the U.S. middle class is going to continue to have plenty of jobs in the new global economy.
I can explain how. Cut corporate and capital gains taxes in half. Cut regulations by two thirds. Build a wall and deport 10 or 12 million illegals. Cut government spending by one third, to start.
But without good, high paying jobs the U.S. middle class cannot continue to be the U.S middle class...
Well, sir, I hate to point out that the middle class is, well... in the middle. There is always something in the middle. A middle exists --- even in a donut, although you can't eat it.
He has to do a better job in explaining why middle class may disappear. But he is not trying to do that: it's more important to tear at your heart, scare and inflame.
...The only thing that the vast majority of Americans have to offer in the economic marketplace is their labor...
That's patently untrue. Collectively, middle class owns a great deal of real estate. Who does the author think owns those homes --- Goldman Sacks, the Fed and the rich CEOs?
In addition, hundreds of millions of Americans own large American and foreign companies: AIG, JP Morgan, Citi, BP, ExxonMobil, etc. Each of these companies is owned by tens of millions of people --- it's only commie propaganda wants you to believe that they are owned by a small number of "rich people."
So the author's statement is patently false. He first decided on the conclusions he wanted to reach and now shamelessly manipulates the facts.
Sadly, that labor has now been dramatically devalued.
What is the evidence of that devaluation? Any numbers, any measures he used to reach this inflammatory conclusion?
Of course not.
the American workers now must directly compete for jobs with millions upon millions of workers on the other side of the world
Nonsense. American workers have always competed with workers around the globe. The difference is that they used to win hands down, but now the victory is harder. But there is nothing new here.
...that toil away for 15 hours a day at slave labor wages.
That is anti-capitalist nonsense that they do not tire to repeat. People he is talking about do not consider their wages to be slave wages. All those engineers in Russia who were paid $50 per month after the fall of Communism enjoyed those wages as a considerable improvement.
What he is trying to sell here is the usual falsehood: we cannot compete with them unless we agree to Chines wages and 15-hour days --- total falsehood.
From here he wants to reach the only conclusion: since we cannot compete on OUR, "civilized" workplace standards, we must shut them off --- down with free trade. None of this makes sense. But, as I said earlier, he is shamelessly selling propaganda.
This is causing jobs to leave the United States at an almost unbelievable rate, and it is putting tremendous downward pressure on the wages of millions of jobs that are still in the United States.
Competition always puts pressure on prices, and we always had competition. He has to explain to us what's new but he does not even try to do so.
And this is just one paragraph. Nice, really nice article.
Kooks like this one would have lamented the loss of good-paying "agricultural jobs" for "manufacturing jobs" in the nineteenth century too.
Ping
I will respond later, but suffice it to say at the moment, that the data behind quite a few of the “facts” listed do not support the authors interpretation of what the data means, in terms of our economy. or the economies of other countries. More, later.
***Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels***
Sorry. I have been to several countries in the 3rd world, as well as the 2.5 world. As much as things suck, we have it better.
***Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels***
Sorry. I have been to several countries in the 3rd world, as well as the 2.5 world. As much as things suck, we have it better.
bttt