Shaun @ Tru6 |
04-24-2020 07:41 AM |
Quote:
Originally Posted by cabmando
(Post 10837206)
We as consumers have sold our fellow Americans out by purchasing goods made in countries with significantly lower wage structure and regulation. I've heard so many people complain about the lack of good paying jobs. I tell them "Look around your house. Look at where your TV, Appliances, Furniture, Clothing, Tools, Hardware items etc come from. Then you might figure out why we have no good paying jobs". A lot of people say we have no choice. It's more that people are too lazy to research anything.
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This is a fundamental misunderstanding of how we came to rely on Chinese manufacturing. Two words, "labor flight," or maybe two other, "corporate greed," or perhaps "share price" or could be "C-suite compensation" and some would say "union corruption" tell the story of moving good paying manufacturing jobs overseas.
New England was once famed for high quality manufacturing with high paying jobs. But some business owners figured out people in the South would do the same work for less money. Jobs flew from New England down to the South. And then Nixon, followed by every president after, started normalizing relations (of all kinds) with China and soon enough, U.S. Corporate C-suites figured out how to make things incredibly inexpensively in China and give themselve MASSIVE compensation packages while ****ing the American worker. More and more good paying American jobs flew overseas leaving American workers with fewer options for the same pay therefore earning less so that they can only afford, you guessed it, cheap Chinese goods. The more workers laid off, the less workers that could buy American and self-reinforced cycle was formed.
CEO compensation has grown 940% since 1978.
How much do you think the American Middle Class salary has grown since 1978?
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