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singhlion2001 4 posts  |  Last Activity: Sep 2, 2014 12:40 PM Member since: Mar 6, 2001
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  • LABOR’S DEMISE IS AMERICA’S DEMISE
    Labor Day is a holiday that has outlived its time

    Labor Day is a holiday that has outlived its time. Like Christmas, Labor Day has become a time-out period. As Christmas has become a shopping spree, Labor Day has become the last summer holiday.

    The holiday originated in 1887 to celebrate the contribution made by American workers to the strength and prosperity of the United States. The first Monday in September was chosen by President Grover Cleveland to avoid a May date that would keep alive the memory of the previous year’s Haymarket Massacre in which workers striking for an eight-hour day suffered casualties from the Chicago police.

    As time passed union leadership became a career rather than a movement in behalf of a cause, but the labor movement in its initial years was reformist. It brought safer working conditions into industry and manufacturing. Unions served as a countervailing power and constrained the exploitative power of capital. An industrial or manufacturing job was a ladder of upward mobility that made the US an opportunity society and stabilized the socio-political system with a large middle class. A large and thriving industrial and manufacturing sector provided many white collar middle class jobs for managers, engineers, researchers and designers, and American universities flourished as did their graduates.

    The labor unions provided the Democratic Party with a financial base in labor that served as a countervailing power to the Republican base in manufacturing and finance. Whether it was a plot or unintended consequence, jobs offshoring wrecked the industrial and manufacturing unions and destroyed the Democrats’ independent financial base. The two-party system that had maintained a reasonable balance was transformed into a one-party system in which both parties were dependent on the same monied interests and thus answered to the same masters.

    The consequence was the demise of the middle class and rise of the One Percent. Today the US has the most unequally distributed income and wealth of all developed economies and one of the worst in the entire world. Few Americans other than the One Percent have a stake in the American economic and political system.

    The imbalance in the distribution of income and wealth cannot be corrected through the tax system. The imbalance is due largely to the loss of the jobs that provided the economic basis for the middle class. Correction requires a retreat from globalism and the return to a largely self-sufficient economy, which the US economy was during its glory decades. Globalism is a scheme for impoverishing First World labor and taking power and influence from the hands of the many and putting them in the hands of the few. The champions of globalism are the champions of America’s destruction.

    Today the Republicans are demolishing the public sector unions. These jobs can’t be outsourced, but public schools can be replaced with charter schools, prisons can be privatized, and many public services can be contracted out to private businesses.

    Public sector unions never had as strong a case for their existence as manufacturing and industrial unions. Moreover, strikes by firemen, police forces, school teachers, and trash collectors undermined public support for public sector unions as did many unpleasant experiences with the licensing bureaucracies of state and local government departments. Nevertheless, public sector unions could serve as a check on ambitious executive and legislative power.

    Whether one has a favorable or unfavorable opinion of unions, their demise is also the demise of countervailing power. A system in which there is no countervailing power is a tyranny in which power is unconstrained and unaccountable.

    The American people have been subdued and turned into a flock of sheep. Will they ever rise again?

    Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. His latest book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is now available.

    Sentiment: Strong Sell

  • singhlion2001 singhlion2001 Sep 1, 2014 11:40 AM Flag

    zombie clown , what moral authority you have here?

    NOW PURE FRAUD STREET CASINO is going to bring Monetary collapse next

    For Americans today, the answer that has been presented to us repeatedly for years, and sadly seems to have been accepted as necessary to restore our capitalist system, is that the Federal Reserve will merely print up trillions more in debt in order to bring things back to "normal". History is replete with lessons for the Federal Reserve, Keynesian economists, and millions desperate to believe that maybe this time, with trillions more in debt, the temporary riches of the financial markets will become permanent and predictable. Frankly, the only thing predictable about this story is that history keeps repeating itself, and we do not show any desire to learn from our past.

    Sentiment: Strong Sell

  • singhlion2001 singhlion2001 Sep 1, 2014 1:14 PM Flag

    TOILET PAPER PONZI SCHEME and Nations abandoning US DOLLAR and Fraud Wars and civil wars now playing in nation near you.............

    DEMISE OF US DOLLAR & USA Muppet Drunken Sailor's on a USA titanic deck boozed up and have no clue?lol

    President Nixon announced to the American people and world, "We must protect the American dollar as a pillar of stability around the world". What was the solution to protecting the US dollar as a "pillar of stability"? The same solution delivered to global financial markets and banks in 1931. The US government would no longer honor its promise to exchange dollars for gold by those nations losing faith in our own government's increasing debt load, or concerned about the stability of the American dollar. On its 40th anniversary in 2011, the dollar had declined to a point where it was only worth 19 cents of its 1971 value. (20)

    "Infinity and Beyond" is a Lie

    Sadly, living through the last 40 years of history where no major industrial nation has backed their currency by gold, the devaluation of currencies has been in a race to the bottom. We all need currency (whether electronic or paper) to live out our own individual lives day to day. The world that brings so many things to our homes and businesses is an extremely complex interdependent global system. Adding more and more debt only increases risks across the entire system.

    Yet, after 1971, every financial crisis had to be explained as anything other than the devaluation of the currency, and inflation was anything but the printing of money and increasing of our national debts. If this was explained clearly to the public, it would be obvious that the only bank given the power to print the American dollar, the Federal Reserve, was at the root of our of nation's growing financial problems. The same applies to the printing presses of central bankers worldwide, and the nations they serve.

    We are all watching a tragicomedy unfold, that will eventually bring far more tragedy than comedy.

    The results are always the same once the public has come over the next financial mountain in history; destruction of wealth and changes that impact everyone, whether rich or poor.

    These changes will come. History has shown that repeatedly. Promoting the idea that "investors" are excited about the latest central banking scheme to continue markets at "all time high" levels has a limited shelf life. This is only feeding the public a lie, that today's global Mississippi Scheme is on track to bring even greater riches to those who put their fear behind them, forget everything in history that brought us to this point, and place their trust in the idea that never ever will central bankers let a problem show up in financial markets again that can not be solved by more debt, more central planning, and more direct intervention.

    Sentiment: Strong Sell

  • The Underbelly Of Corporate America: Insider Selling, Stock Buy-Backs, Dodgy Profits
    Anonymous comments on message boards must be taken with a grain of salt, but this comment succinctly captures the underbelly of Corporate America: massive insider selling, borrowing billions to buy back their own stocks to push valuations to the moon so shares granted as compensation can be sold for a fortune, and dodgy accounting strategies that boost headline profits and hide the gutting of investments in long-term growth.
    Here's the comment

    Sentiment: Strong Sell

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