BUT now these companies, solely in the name of corporate profitability, reciprocate neither their loyalty, nor duty to Americans to be good corporate citizens. Here we have a case in point about GE methodically shipping their entire energy efficient lighting manufacturing operation out of Ohio to China with the primary reason being given as lower labor costs.
Hosted by the Obama Administration, the U.S. and China are holding two-days of top-level bi-lateral talks in Washington, D.C. this week. The talks are being held Mon-Tues, July 27-28th and will cover a broad range of economic, national security, diplomatic, energy and environmental issues. China sent a 150-man delegation led by State Councilor Dai Bingguo […]
Distinguished MIT professor Andrew W. Lo and private sector Research Analyst Jasmina Hasahodzic interviewed thirteen highly successful, award-winning market professionals who credit their investment acumen and success to technical analysis.
Goldman Sachs Group Inc.’s repayments to the government of last year’s bailout money, including an agreement today to repay warrants, generated a 23 percent annualized return for U.S. taxpayers.
What this all means is that the problem of macho run amok and the excessively over-compensated male ethos of ‘macho’ aggression and propensity for risk-taking is now giving way to the male unemployed and undirected—a different but possibly just as destructive phenomenon. Long periods of unemployment are a strong predictor of heavy drinking, especially for men ages 27 to 35, a study in Social Science & Medicine found last year. And the macho losers of globalization can forget about marrying: “Among the workers who disproportionately see their jobs moving overseas or disappearing into computer chips,” says sociologist Andrew Cherlin, “we’ll see fewer young adults who think they can marry.” So the disciplining effects of marriage for young men will continue to fade.
Surly, lonely, and hard-drinking men, who feel as though they have been rendered historically obsolete, and who long for lost identities of macho, are already common in ravaged post-industrial landscapes across the world, from America’s Rust Belt to the post-Soviet wreckage of Vladimir Putin’s Russia to the megalopolises of the Middle East. If this recession has any staying power, and most believe it does, the massive psychic trauma will spread like an inkblot. How will this shift to the post-macho world unfold? And what will be its legacy in the world of 21st century capitalism and the global economy..??
The book highlights the people who’ve done everything “right” — college degrees, often ivy-educated, developed marketable skills, with impressive track-records — yet, they’ve become repeatedly vulnerable to the seemingly never-ending string of Wall Street scandals, economic “crises,” eviscerating mergers & acquisitions, and your basic business cycle. Further, today’s globally competitive corporations take pride in shedding their “surplus” employees (i.e., downsizing) or by increasing corporate profit margins by shipping technology and call center jobs overseas into lower labor cost markets like India or the Philippines where they don’t have to pay for healthcare, retirement or vacation benefits for workers. Inevitably, this plunges white collar employees into months or even years at a stretch into the twilight zone of white-collar unemployment where a job search itself becomes a full-time occupation; and not to mention the underlying risk to this prime driver of the U.S. economy.
RealClearMarkets.com is among my favorite sites while on the go or in a hurry for a one-stop-shop solution for Market-related news, analysis, commentary and insights.
As the 2009 G-8 Summit of the worlds seven welathiest nations draw near, 8-10 July in L’Aquila, IT we provide a quick run-down of the primary items on the docket.
Americans are a stubborn lot. We resist change and even the most minor of inconveniences. And I suspect the newly emerging ‘Cap & Trade’ schemes under the American Clean Energy & Security Act — also known as the Waxman-Markey bill — just passed in the House, and now being hotly debated in the Senate, will […]
As the U.S. Senate’s permanent committee on Investigations begins an examination of the role of Traders, speculators and Hedge Fund managers in world energy markets, economists and policymakers make a compelling case that price behavior in global energy markets violate basic priciples of economic supply & demand.
For too long, the rules of Wall Street have been written by the bankers themselves. This year, that has to change. Americans for Financial Reform is a coalition of nearly 200 national, state and local consumer, employee, investor, community and civil rights organizations that have come together to spearhead a campaign, in the public interest, for real reform in our banking and financial system.
China’s oil giant, Sinopec announced plans for a $7 Bn takeover of Addax petroleum, an international oil firm of Canadian origin. The merger muscles China into the Iraqi oil game, directly competing with U.S. interests.
It happens all too often. Having established clear patterns over the years — the Black police officer turns out always to be the victim of “friendly fire” — such incidents can no longer be dismessed away as “tragic” incidents. It must stop, now. The latest victim was heroic NYC police officer Omar J. Edwards of Brooklyn, NY, shot and killed by a fellow white NYC police officer Andrew Dunton, in a case where Officer Edwards, dressed in plain clothes, was mistaken as a criminal when he was actually in the act of preventing a crime.
As President Barack Obama announces his ‘New Financial Foundation’ package of banking and financial industry reform, skepticism about the plan; and whether the administration is squandering political capital on a missed opportunity for BOLD changes is coming from every quarter.
