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TABS
1 hour ago
You read TABS to find the truth of the matter and not this ersatz "truth" that is being splayed all over the Tube.

Multinational Corporations have NO LOYALTY to any nation nor nations peoples. They exist for only one purpose and that is to make a profit for their shareholders. To remain competitive in a burgeoning Global Economy Corporations have to be cost effective in the manufacturing their product to meet market price point. The thinking is if we do not watch our costs somebody else will be eating our lunch and we will be out of business. To remain competitive in a NOW Global economy American corporations were forced to move production facilities overseas. They did this for 3 primary reasons, higher Taxes, HIGHER WAGES and more regulations than in developing nations. The American worker's wage structure priced themselves out of jobs. It didn't take any genius to see that the American standard of living was going to decline. Yet Americans have lived in denial of Global economic reality for 40 years. Instead they have borrowed money from the world to continue the charade of being a "RICH NATION" as Barrack was want to say. It has taken 40 some odd years to go broke.

The Elite Wizards who have been in charge, in their genius failed to see or contemplate what would happen when the fatted calf American consumer who is and was supporting this whole Global Economic show lost his good paying Middle Class job, ran out of cash and maxed out his credit. The answer is that with no where with all to consume, BUY...Global Demand falls which causes the Global Economy of Scale to DEFLATE. The Keynesian Conventional Wisdom in vogue by the Elite Wizards since the 1930's said stimulate through printing and borrowing against the future and all will be swell again. This remedy failed to take into account that the great wealth that the US had accrued from WW2 and the aftermath was dissipated and that the dynamic had changed because the consumer had lost his means of consumption in a to remain competitive move of production to a foreign land by the corporate employers. In other words the GREAT AMERICAN POST WW2 PROSPERITY BUBBLE had gone bust.

In the end that Great American Post WW2 Prosperity Bubble was an aberration of history. For never before had so many lived so well. Now it is a reversion to the mean of human history. You might say the American people believed that they were invincible and could do anything with out consequences. There is one word for that HUBRIS...