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The Offshore Outsourcing of American Jobs: A Greater Threat Than Terrorism

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so far there has been no debate, just a shouting down of skeptics as “protectionists.” ...Read full article...

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud

Washington can’t stop lying.  Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.  In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate  are “far removed from common experience and ...Read full article...

Fake Employment Statistics: More Phantom Jobs Created in America

Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 jobs or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that ...Read full article...

Unemployment and Low Wage Employment in America

The March payroll jobs report released April 4 claims 192,000 new private sector jobs. Here is what John Williams has to say about the claim: “The Bureau of Labor Statistics (BLS) deliberately publishes its seasonally-adjusted historical payroll-employment and household-survey (unemployment) data so that the numbers are neither consistent nor comparable with current headline reporting.  The upside revisions to the January and February monthly jobs gains, and the relatively strong ...Read full article...

No Jobs, No Economy, No Prospects For Peace Or Life

Over the decades various administrations, seeking to improve their economic record, monkeyed with economic statistics to the point that the statistics are no longer meaningful. According to Friday’s (March 7) payroll jobs report, the US economy created 175,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let you have at a good price. Even if 175,000 jobs were created in February–remember ...Read full article...

Corporate Taxes in America

Raising them should be a national imperative. Corporations should pay their fair share. Not according to Laurence Kotlikoff. He’s a right-wing economist. He’s a corporatist writ large. He claims  abolishing corporate taxes will create jobs. Doing so requires dropping money on Main Street. Get it in people’s pockets directly. Do it by cutting their taxes. Guarantee a living wage. Support worker-friendly legislation. Restore their bargaining power with management. Return ...Read full article...

Voodoo Economics: Deficits do matter

Is Paul Krugman a Voodoo Economist? Readers ask me if Paul Krugman could be correct that deficits don’t matter and that neither does printing endless reams of money with which to purchase the Treasury’s debt instruments that finance the deficits.  If people at home and abroad who hold dollars and dollar denominated financial instruments do not care that trillions of new dollars are being created in order to cover ...Read full article...

Hiding Economic Depression With Spin

Time is running out for the US economy and the American people.  The financial press and economic commentators, with few exceptions, do a good job of keeping this fact from the public. Consider for example the spin put on the “advance estimate” of the real GDP growth rate for the second quarter announced on July 31. The annual rate of 1.7 percent real GDP growth for the second quarter ...Read full article...

U.S. Government issues yet another phony Jobs Report

The payroll jobs report for May released today continues the fantasy. Goods producing jobs declined, with manufacturing losing another 4,000 jobs, but the New Economy produced 179,000 service jobs. Are these jobs the high-powered, high-wage “innovation jobs” that economists promised would be our reward from Globalism. I’m afraid not. According to the Bureau of Labor Statistics, the jobs created are the usual lowly paid non-exportable domestic service jobs–the jobs ...Read full article...

A Greater Threat Than Terrorism: Offshore Outsourcing of American Jobs

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so far there has been no debate, just a shouting down of skeptics as “protectionists.” ...Read full article...
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