Whither the American Dream, Rethinking Globalization, etc: “Study Finds White-Collar Unemployment Spreading”

NY Times: Study Finds White-Collar Unemployment Spreading

Check out the comments, some very, very interesting ruminations on outsourcing, the financial industry in NY, possible effects of the collapse of the US auto industry, mounting student loan debt and the high cost of education only to have jobs outsourced, US competitiveness, socialized health care in other countries, etc…

Looks like people are ready to riot/for a revolution.  Who are the “they” that got us in this situation: skimming investment bankers, hedge funders, mortgage-backed security pushers, outsourcers, various politicians,etc?  Read the comments, peope are mad.  And if you look at it all, it doesn’t really make much sense.  This whole mortgage industry and financial industry collapse is like, way bigger than 9-11…and did Americans do this to themselves???

BTW obviously, the millions of dollars in bonuses for the top employees, hundreds of thousands of dollars  in bonuses for mid level employees, and tens of thousands of dolalrs in individual bonuses for Wall Street employees each year has always been obscene.  Yes, Manhattan and Greenwich, obscene.

On top of this all, is how obscene the amount of money we have spent fighting in Iraq, money that could be used to help our economy…money and manpower that could have helped the people in N.O. after Katrina…

Here’s a Trickledown comment:

With globalization there should be equalization regulations…like if country A has cheap labor but has bad humanitarian practices, their products should be taxed x% at the US border.  If country B has bad environmental practices, their products should be taxed y% at the US border.  Of course, the US would be paying z% tax at other countries’ borders due to our huge output of greenhouse emissions and our huge power consumption rates.  However, such taxes would also be imposed on countries like China and developing countries which might rely on dirty fuel.  So there would be incentives for countries to treat their workers and the environment well.


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