Live World Indices are powered by

Saturday, 7 September 2013

WRONG AGAIN! real economics: USA industrial muscle

I have been writing since the 1980s that there has been no idea more pernicious than the one the postulates that there is no legitimate crit...

Economist are wrong again! Hand back those Nobel Prizes! You gutted American Industrial Muscle, and no one is the wiser. First, we concur that the American corporation's pursuit of shareholder value had a lot to do with it. A Company's first responsibility is to its stakeholders, and only secondly, to its corporate home jurisdiction. There is no national allegiance, so they are soulless entities, not really entrenched by sovereign constitutions, as they operate within a supra constitutional context making them, in effect, Virtual Countries - operating under the rules that they pick and  like best.  Many books could be written about these barbarians at and within our gates.

But the real culprit here was the ancient mercenary concept of "comparative advantage" the economist supreme rationale for unencumbered international trade and globalisation without any sense of moral code or ethical governance. This concept assured that the deck was stacked against the middle class and organised labour by forcing it to compete with oppressed de facto "slave" labour in other countries. What chance was there for fair competition?  And their jobs? None! 

For certain inflation and domestic prices have been contained over the past thirty years, but the wreckage caused in lost jobs, social decay, and destitute cities are, by far, not just compensation. Visit Detroit. Solid jobs were moved overseas by soulless Company's who along with local foreign governments exploited its peasant labour forces to their mutual advantage. Everyone else lost. 

So as a Mr. B. Springsteen, a nice fella from New Jerseyexpresses " I am afraid these job are going boys - and they ain't coming back" 

Thus, there is no such thing as advantage for the many, in comparative advantage in the real world.  It is a myth. It is propaganda. It is for the few. Just poppycock built by naive economists supporting the vested interests and rhetoric of foreigners and Virtual Nations. And there are no prizes for the slaves or those who lost their jobs. And so  - so much more...

First Financial Insights
September 6, 2013

Special thanks to a Mr, B. Springsteen, Rumson, New Jersey a worker and resident for his nice writing, that we printed here, and for bringing this unfortunate historic matter to our attention. He tells a story that portrays the human side of tragedy Merci, Bruce and hope everything works out for you and your friends, down there in your hometown 

My Home Town...

Troubled times had come to my hometown
My hometown, my hometown, my hometown

Now main streets whitewashed windows and vacant stores
Seems like there aint nobody wants to come down here no more
They're closing down the textile mill across the railroad tracks
Foreman says these jobs are going boys and they aint coming back to
Your hometown, your hometown, your hometown, your hometown

Last night me and kate we laid in bed talking about getting out
Packing up our bags maybe heading south
Im thirty-five we got a boy of our own now
Last night I sat him up behind the wheel and said son take a good
Look around
This is your hometown

Robinson , Charlie

Search This Blog