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Thread: Dude, Where's My Job?

  1. #1
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    Dude, Where's My Job?

    This is an excellent article with good charts, graphs, and analysis.

    A couple of quotes:

    ....You might ask yourself, if corporations are doing so well how come real unemployment exceeds 20%? The answer lies in who is generating the profits and how they are doing it. It seems that the fantastic profits are not being generated by domestic non-financial companies employing middle class Americans producing goods. Pre-tax domestic nonfinancial corporate profits are not close to record levels as a share of national income. They exceeded 15% of national income once in the late 1940s, and repeatedly topped 12% in the 1950s and 1960s; in the third quarter of this year, they were 7.03% of national income. I wonder who is making the profits.
    The top 10% wealthiest Americans own 98.5% of all the stocks in the country.
    The misinformation and lies will continue. The MSM keeps repeating that jobs are coming back. You don’t hear which jobs. Hysterically, the four fastest growing job categories according to the BLS are:
    1. Administrative and support services
    2. Food services and drinking places
    3. Couriers and messengers
    4. Performing arts and spectator sports
    The well paying goods producing jobs are never coming back. American manufacturing jobs have been shifted overseas for more than two decades by corporate America. Now those jobs have become more sophisticated, like semiconductors, software and even medical and finance. The American middle class is relegated to being McDonalds fry cooks, Wal-Mart greeters, and temp workers. What has happened to the American middle class was not an accident. The wealth of the country has been pillaged by an elite group at the very top of the economic food chain, who were able to reap the rewards of globalization (outsourcing American jobs), manipulate the debt based financial system through synthetic fraud products, and avoid taxes by hiring thousands of lawyers, accountants and tax consultants.

  2. #2
    Ridin Dirty dom's Avatar
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    " The wealth of the country has been pillaged by an elite group at the very top of the economic food chain, who were able to reap the rewards of globalization (outsourcing American jobs), manipulate the debt based financial system through synthetic fraud products, and avoid taxes by hiring thousands of lawyers, accountants and tax consultants."

    Sounds right.

    "Tutto nello Stato, niente al di fuori dello Stato, nulla contro lo Stato "
    -Mussolini
    All within the state, nothing outside the state, nothing against the state.

  3. #3
    Senior Member
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    synthetic fraud products
    I just love that phrase; modern investment banking in a nutshell.

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