Friday, June 17, 2011

Dumb Capitalists

I grew up in New York. I remember what happened to the city in the seventies and eighties when factories left for the South. The city was hollowed out. Parts of it became very dangerous. It looks like they're at it again. Except this time they're going to hollow out the entire country not just the big cities. Despite enormous tax breaks Dumb Capitalists continue to move factories and jobs outside the United States. What jobs they are creating are low paying service jobs. And then they wonder what happened to the American Consumer? You fired him. Duh. You can't have a vibrant economy with only low paid workers. You need to have high paid workers to have consumer spending. Everybody needs to make good money, not just the Harvard graduates. This is a no brainer.
The future looks pretty bleak to me. But I'm an old lady. I'm 53 years old so it won't make much difference to me. I'm done, but our chldren are going to face really tough times. The capitalists want to go back to19th century capitalism with its major economic disruptions. They don't want government and they don't want unions. This may work for a little while but eventually the economic gyrations will be so pronounced that it will be shirtsleeves to shirt less in three generations, instead of the slow and steady growth of post WWII America. Stupid is forever. Our businessmen see only one solution to rising costs. They think all they can do is slash wages. But what they are doing is cutting their nose to spite their face. Innovation cuts costs also. Lower energy costs with renewable clean energy and develop a better product. Do something smarter than just taking money out of your customers pockets ( The ones who actually do the work!). Bring manufacturing back. They got a big tax break for Christmas and now job creation is down. Why isn't anybody shopping? Actually more like 25% are underemployed or unemployed including all those working off the books. That's why.  Heathcare is a greedy business for profit just like Wall street. We need socialized medical with reforms like in Canada and Europe.

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