Monday, January 23, 2012

Bill Clinton, Charity and Capitalism in Crisis: A Series at the Financial Times

See the various contributions at the Financial Times,
including an article by former US President Bill Clinton,

Capitalism in crisis

Our question is whether capitalism is actually in crisis
or whether it is only America's version of capitalism that is the flaw.

Gingrich, Romney, Private Equity and Conservative Ideas About Federal Government Gone Wrong

Chris Ladd at the Huffington Post tries to avert the inevitable fallout that will come from Gingrich's Risky Private Equity Critique as regards the past professional career of Mitt Romney, noting that:
"This play threatens to open conservative minds to the heretical possibility that government policies favored by free market zealots over the past generation have played a role in our economic mess."
Which, of course, they have.

Croatia Says Yes to the European Union 2-1 in EU Referendum: EU Naysayers Shown to be a Minority

So where is Croatia? and who are the Croatians?
America's most famous Croatian descendent right now is surely Nick Saban,
head coach of the current American national college football champion Alabama Crimson Tide.

Martin Schulz,
President of the European Parliament,
has issued a press release that

Croatians support EU accession

The BBC reports that the vote was about 2-1 in the EU Referendum, even though a simply majority would have sufficed.

This of course is strong evidence for the strength of the European Union, contrary to all the negative hype written by the mainstream news media.

The Sellout of America Overseas: Video of The iPhone Economy at the New York Times: A Nation of Servants?

So you think that electing the "right" person as President is the answer to US economic problems?

Think again.

The New York Times has an easily understood video

on The iPhone Economy

by Amanda Cox, Charles Duhigg, Xaquín G.V., Mika Gröndahl, Haeyoun Park, Graham Roberts and Karl Russell.

The country is in fact headed toward a situation where companies like Apple have all the money, you have an iPhone or similar unnecssary bauble but no job -- unless you are working as a waiter at a Chinese restaurant.

Manufacturing in the USA is rapidly disappearing and only service industries are on the rise. A nation of servants?

Made in China: American Corporate Greed Has Outsourced the Economy Overseas: What is Needed is An "Outsourcing Tax" to Penalize These Companies for Destroying the Domestic Economy

We were not previously aware that President Obama had asked the deceased former Apple CEO to the effect that "What would it take to make iPhones in the United States?" and "Why that work couldn't come home?" and that the answer of that deceased former CEO had been:

"Those jobs aren’t coming back".

You admire that deceased CEO and his company?
You buy Apple products?
Are you aware of the true facts?

Apple is one of a host of outsourcing American companies that are greatly contributing to the destruction of the American economy and other Western economies as well.

In this regard, and to really understand the sustained and increasing economic problems of the United States, one should really read carefully an article on the "iEconomy" by Charles Duhigg and Keith Bradsher at The New York Times Business Day titled

Apple, America and a Squeezed Middle Class.

That article explains how companies such as Apple -- in order to make ever bigger profits and stuff the pockets of its senior executives and investors -- have "sold" the American economy overseas to cheap labor nations -- where workers toil under working conditions that clearly violate human rights and, in the process, ultimately nullify all that has been gained in the modern era in bringing basic dignity and worker safety to the human working environment.

Read the above article to understand that ANYONE who buys Apple products is contributing to the destruction of his or her own domestic economy and enabling the onward march of virtual slave labor everywhere.

There was a very good reason historically why nations had protective tariffs to protect their own labor forces and to sustain their standard of living.

Once such protective tariffs were lifted, as has been done, it is clear that the manufacture of goods is shifted to nations offering the cheapest labor, regardless of the squalor of their working conditions, thus in the long term destroying everything civilized society has gained in labor progress in the last two hundred years.

Foreign cheap labor not only snuffs out job positions domestically but shifts the balance of hiring power at home to ruthless corporate executives who make ever greater profits for a small elite by leveraging their option to outsource manufacturing to cheap labor nations if domestic employees do not toe the line and accept increasingly worse and worse working conditions and wages. Increasing numbers of lockouts of employees by employers to make them accept employer demands is one sign of this negative development.

In our opinion, the only solution to this problem is to tax unmercifully the companies responsible for the damage that they are inflicting on the domestic economy by imposing a stiff "outsourcing tax" on every product containing components made in foreign countries, plus an even stiffer "damage to the economy" tax, calculated by the level of their profit-taking and the number of jobs lost to the economy by their overseas manufacturing operations.

It is said that Apple may employ as many as 1 million workers overseas. It should have to pay America for those domestic  job losses -- not as a one-time payment, but in every year that outsourcing is used.

Should the company be moved out of America, for example, as some companies have done to avoid taxes, their import of products into the USA, directly or indirectly, should either be prohibited, or face MASSIVE tariffs.

America does not need companies like Apple, and, frankly, the country would be better off without them. Rather than rewarding such companies with absurd monopolistic patents, America should be penalizing these corporations for destroying domestic jobs and for fleecing American citizens and harming its economy to boot.

Executive Pay Excessive Says Broad Consensus

Not just in the USA but also in the UK,
there is a broad consensus
that senior corporate executives receive vastly excessive compensation.

Julia Werdigier has the story
at The New York Times Business Day

In Britain, a Rising Outcry Over Lavish Executive Pay

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