Tuesday, September 27, 2011

Wall Street Is Committing Economic Genocide

Wall Street Is Committing Economic Genocide: "It seems that the largest obstacle to create jobs and enhance manufacturing in the United States isn’t taxes, regulation or unions. Businesses are not leaving the United States to escape high taxes or regulations. They are leaving to low wage countries. Back in the late 1970s and early 1980s, Japan was the country many businesses wanted to move into. They moved there to take advantage of their lower wages, but once the Japanese people began to demand a little more money, the businesses left to China, which by then was industrialized enough to support these new factories. Now China is starting to lose low end manufacturing to places like Vietnam and the Philippines, citing wage increases as the reason for the outsourcing....."

3 comments:

MotivatedinOhio said...

I heard they were betting that the world economy would collapse.

Underground Politics said...

And I bet you that the bets they were making were so they'd be making money if it did.

Irmeli Grunau said...

Somebody knowing Finnish? Blog: abortti.blogspot.com