|
All have vast supplies of cheap labour. Our middle class is dissappearing because multinationals are profiting from that vast supply. But, the issue is when will the chinese have a middle class.....and this still does not address America's vanishing middle.
It is stupid to think for one moment that focussing on expensive brands manufactured here will somehow make up what was swept away under our feet. If there is a profit to be made - those "brands" will find themselves being made where the labour is cheapest. That is the simple truth.
I agree there is a crisis of globalization. I also agree that tax cuts will in no way positively affect the crisis America finds itself in. Any increased demand will just make the factories in China work longer.....that is all. And any jobs offered will be temporary, part time sales or service sector jobs. You just don't make anything anymore......switched to a financially based GDP economy. Wall Street is king. That is the way they want it. That is the way they have it. And given that government has proven eager, able and willing to bail them out, even if they rob, steal, lie, commit fraud, etc, etc....government has come to the conclusion that this is how it should be.
|