The American people and people all over the world are in trouble. There is no political organizations out there that represents their interests. Because of "free trade agreements," we have Rio Tinto locking out American workers, and importing cheap labor. This form of "productivity" is, in effect, destroying the jobs of American workers, whose jobs used to provide the disposable income that supported the American economy. Any profits on Wall Street are based on productivity, and are not based on consume spending. "Productivity" does not produce goods, services or the economy. The Chinese can produce all the goods they want, but there has to be a market for those goods. No jobs, no disposable income and no market!
The purpose of "free trade" and "globalization" was to drive down wages. This is not 1817, when Ricardo wrote his Iron Law of Wages. Modern economies are supported by the wages of ordinary people. This depression is just getting started, and you haven't seen anything yet!
The only people we have working for ordianary people are unions. The cabin crews for British Airways are on strike and are seeking the support of the "Teamsters" in America. Your job may be next!
Pervis James Casey
Mar 18 2010 - 3:37pm