REICH: The Prosperity Of Big Business Has Disconnected From The Well-Being Of Most Americans

[Klukie]

President Obama is slamming Mitt Romney for heading companies that were “pioneers in outsourcing U.S. jobs,” while Romney is accusing Obama of being “the real outsourcer-in-chief.”
These are the dog days of summer and the silly season of presidential campaigns. But can we get real, please?
The American economy has moved way beyond outsourcing abroad or even “in-sourcing.” Most big companies headquartered in America don’t send jobs overseas and don’t bring jobs here from abroad.
That’s because most are no longer really “American” companies. They’ve become global networks that design, make, buy, and sell things wherever around the world it’s most profitable for them to do so.


Read more: http://robertreich.org/post/27527895909#ixzz215eiAZOa

[1StrongBlackMan]

1. I have always said ...

Corporation domiciled in the U.S. are not American Corporations ... there is no such animal. Rather, corporations domiciled in the U.S. send their jobs to low wage/low regulation nation-state; their revenues to low tax nation-states; and their executives to the U.S., where the American tax-payer will protect their lives and lifestyles.

[closeupready]

2. Well, sir, you know what? You were instrumental in making that happen.

nt

[HiPointDem]

3. kr

[RadiationTherapy]

4. Who knew the story of Frankenstein's Monster was that of corporations in America?

Not me!