Wednesday, January 28, 2009

Blame yourself, because it's your fault.

A "service economy" can't support everyone who needs to work, because people working at sub-living wage "service" jobs can't afford to buy any everyday ordinary actual household goods or products, much less larger goods like cars and houses - and, get this, people who only make sub-living wages can't afford to pay other people to do their chores, either, as some people are just now figuring out. It's a viscous contracting downward spiral - which would NEVER have happened if wages hadn't been stagnant due to the globalization scam began nearly 30 years ago.

Business Week
A Red-Letter Day for Layoffs
Economists say steep job cuts at Caterpillar, Sprint, and Pfizer may only signal the halfway point
By Moira Herbst

...The worst news, though, may be that some economists say in their most optimistic view the U.S. has only reached the halfway mark in terms of the layoffs expected for this recession. A growing number of economists also say that the U.S. economy is not just shedding jobs temporarily, but may be undergoing a painful restructuring process that will eliminate some types of jobs for good. "We are seeing very large layoffs—the kind you get when companies don't expect to be re-employing any time soon," says Peter Morici, a professor at the Robert H. Smith School of Business at the University of Maryland. "They [represent] structural, not cyclical, changes to the economy. We're looking at a permanently smaller economy with prolonged unemployment at an unacceptable level."
Jobs Gone for Good

Morici says that housing, real estate, automobiles, finance, and retail sectors are resetting to "permanent lower levels" of employment. Mike Montgomery, an economist with IHS Global Insight, asserts that many jobs in autos, manufacturing, apparel, and textiles aren't coming back. Those industries "have been in a long-term decline, and the recession is knocking them out."

"We are very early in the cycle," says Morici. "We are going to see the fury of the Old Testament for what we have done to the economy."

...In the NABE survey, 52% of economic forecasters said they expected gross domestic product to fall by more than 1% this year. Many analysts predict the economy will have contracted at an annual pace of 5.4% in the fourth quarter of 2008 when the government releases that report on Friday. If they are correct, that would mark the worst performance since a 6.4% drop in the first quarter of 1982.

One reason for the shrinkage is that the era of debt-based consumption is giving way to one in which consumer spending slows as incomes fall. "The U.S. consumer is going from powering the global economy to following along [global economic trends]," says Zandi. "Spending at best will match their incomes and will likely fall short of it."


Well, DUH! The only way you're going to save the US economy is to bring back the living wage manufacturing jobs and other living-wage sectors farmed off to defacto slave workers in third world backwaters with no Judeo-Christian wage and labour and safety and environmental laws. The only way to increase people's ability to pay taxes and buy the things they need is to get American WAGES back up to living levels, and put in appropriate fairness measures, instead of making American workers try and compete with people making fifty cents an hour and made to work 7 days a week with no sabbaths, no holidays, no sick leave, and no protection from excessive hours, unsafe working conditions, pollutants, and child labour. That's not "free trade," that's exploitation. Free trade involves EQUALS.

Does no one remember that the US was PROSPEROUS during the 40s, 50s, and 60s when our unions were strong and our government protected our industries from blatantly unfair competition from unregulated places? Back then a man could work a regular 40 hour a week job and support an entire family, including a car and home, on his wages alone. Remember that? What, pray tell, was WRONG with that, OTHER than the fact that the Robber Barons profits margins were held to the hundreds of thousands and millions instead of the billions and trillions? GREED KILLED THE AMERICAN ECONOMY - only giving up greed and paying people what their time and effort is REALLY worth in a living wage economy will things return to normal.

And speaking of what things are really worth: NOBODY's work, no CEO ANYWHERE, is REALLY worth millions of dollars a year while their workers are making only a ten-thousandth of that. That's not employing people, that's exploiting them. And EXPLOITING both American and third world workers is WRONG. It is UNETHICAL and has DESTROYED our economy, and it has to STOP.

But these greedy bloodsucking slimeballs won't stop voluntarily - WE have to stop them by the only means we have available, which is voting with our wallets. But WE won't stop them, either, because we, too, are greedy and stupid and too short-sighted to see where our throw-away consumerist society leads us.

So don't blame the government. Don't blame big business. Don't blame anybody but yourselves, for continuing to support the Robber Barons with your hard earned money. You "voted" them in with your wallet, and now you have no one to blame but yourself for your situation. You supported enslavement, and now you're enslaved - because you were too cheap to pay the real prices of things, so you could have MORE and MORE and MORE stuff you DIDN'T really need. Then, when your wages didn't keep up with inflation due to the globalization scam, you knowingly and purposefully went into DEBT to buy things you couldn't afford - and now, boo-hoo, look where you are.

Who did this? You did it. Hope you're happy.

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