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ast week, I explained how economists and policymakers destroyed our economy for the sake of short-term corporate profits from jobs offshoring and financial deregulation. That same week Business Week published an article, “Factory Jobs Are Gone. Get Over It,” by Charles Kenny. Kenny expresses the view of establishment economists, such as Brookings Institute economist Justin Wolfers who wants to know “What’s with the political fetish for manufacturing? Are factories ...Read full article...
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...
By requesting a financial bailout of its banking system and accepting all measures recommended by Brussels, Spain has effectively walked into the wolf’s den. By LUIS MIRANDA | THE REAL AGENDA | JUNE 26, 2012 The reaction to Spain’s decision to accept a financial bailout for its banking system had immediate reactions everywhere in that country and abroad. First, the decision to request over $100 billion dollars to Brussels ...Read full article...