The recession/depression is not over!
It should be fairly clear by now that the purpose of “free-trade globalization” is to drive down the wages and benefits of ordinary wage-earners. They are seeking to create a two-classed system consisting of the very rich and the very poor. These people are sociopaths who do not care about anyone but themselves.
They are also very stupid, because they think their one percent of the population can replace 70 percent of the population currently supporting the American economy with themselves. When they outsourced American industries and jobs overseas, they outsourced the disposable income that bought homes, automobiles, and other durable goods. Somehow the American consumer would still be able to buy these cheaper goods from overseas, even if their income had been outsourced overseas.
Since China and the emerging markets have bought into this “free-trade globalization nonsense, and a substantial portion of their manufactured goods are intended for the disappearing US market and European markets, that portion of their manufacturing output that support these disappearing markets will also close down.
As for the American people vs. the economic elites, we will have to learn how to play hardball. In the absence of collective bargaining, we will see more strikes. You have to hit these people in the pocketbook, in order to get their attention. Pocketbooks have replaced their hearts!
Pervis James Casey
Mar 4 2011 - 4:00pm