Wake up and Smell the Coffee Krugman!

Paul Krugman asks plaintively:

We’re well on the way to creating a permanent underclass of the jobless. Why doesn’t Washington care?

Because the White House and Congress are bought and paid-for by the multinationals, and the multinationals don’t care about jobs in the USA!

Get it? Washington cares about what the multinationals care about, and the multinationals care about international labor arbitrage. And they care about it very, very deeply.

Wake up and smell the globalist coffee. It’s not about the USA any more. Like FedEx CEO Fred Smith likes to say, it’s about growing the global pie. If the USA’s slice shrinks a bit while the other slices grow, then that’s just fine from the globalist perspective.

The creation of the American middle class was a political decision. And so is its destruction. Labor arbitrage was implemented by acts of Congress, such as NAFTA, explicitly designed to export jobs.

It’s been a done-deal for over a decade now. Exporting as many jobs as possible is official economic policy. It is the law of the land.

If a company like IBM wants to adopt a “No Americans” hiring policy, nobody will say boo to them. If Walmart wants to outsource its entire, massive IT staff to India, then kiss it goodbye because it’s gone baby gone. If the auto industry wants to move plants to Mexico while Detroit goes to weeds, then weeds it will be.

The globalists have everybody hypnotized with their “exporting jobs will create even more jobs here” mantra. Maybe President Trump will be able to smash that preposterous myth in 2012. But as far as I can tell, unemployed Americans are content to meekly shuffle off to the Food Stamps office, and that makes our adoption of a Brazilian-style favela system the more likely outcome.

7 thoughts on “Wake up and Smell the Coffee Krugman!

  1. Great, even the gravitational pull on the moon is in decline. Can’t the gov’t *DO* something about that? Let’s start a new program and fund it with TRILLIONS of dollars to propose a solution. That’ll get people working again. 😐 Trump in 2012!

    The moon looked great last night here in AZ. I’ll have to grab the telescope and put it up so I can get an UP CLOSE look tonight.

    Sorry, G, I misunderstood which charts were always wrong. I tend to look at the info, not the source.

    $SPX weekly MACD histogram turned negative this past week.

  2. “Because the White House and Congress are bought and paid-for by the multinationals, and the multinationals don’t care about jobs in the USA!”

    yep, you got that right. obama, in appointing Jeffrey Immelt, the ceo of GE as chair of his new Council on Competitiveness and Jobs puts the exclamation point on your assertion.

    GE “represents the archetypal [U.S.] company that’s hoarding cash, sending jobs overseas, relying on taxpayer bailouts and paying less taxes than envisioned”


  3. 2th, NP… I just didn’t want anyone to get the idea that StockCharts was good. 🙂 I mean, it’s not even streaming! More of an investor tool than trader tool.

  4. No moon for us. Overcast, dag nab it. Oh, well, at least a fool moon means a market direction change. Doesn’t it?

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