Tuesday, April 19, 2011

A world of grief

Building a bit on my last post below, this is a subscription only piece in the WSJ but the lede says it all about corporate globalization:
U.S. multinational corporations, the big brand-name companies that employ a fifth of all American workers, have been hiring abroad while cutting back at home, sharpening the debate over globalization's effect on the U.S. economy.

The companies cut their work forces in the U.S. by 2.9 million during the 2000s while increasing employment overseas by 2.4 million, new data from the U.S. Commerce Department show. That's a big switch from the 1990s, when they added jobs everywhere: 4.4 million in the U.S. and 2.7 million abroad.
So yeah, let's lower the corporate tax rate some more so they'll "create" more jobs. That's worked so well in the last 30 years. Think Progress has more.

In other news, my sister wonders, what the frack is this:
Without government regulation and oversight and further studies of fracking and all related activities, the impact on our environment and the people living in gas rich areas could end up being devastating.
And here's something you don't see everyday. KKK refudiates the Tea Party and the vile Fred Phelps.

On a lighter note, our dear Capt Fogg takes on the nerds. Click over and wish my favorite ham a happy World Amateur Radio Day.

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Blogger Ruth said...

In taking away those jobs to lower-paying workplaces those same industries just cannot acknowledge they're undercutting their own consumer base. It's also Patriot's Day in Lexington and Concord, not in NH.

1:39:00 PM  
Blogger Libby Spencer said...

The guys making the money don't care Ruth. Suspect they're thinking if they crush the economy enough to bring us to third world status, then the US working class will work as cheap as Chinese child labor.

2:51:00 PM  

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