Dr.Who, et al,
This is not meant to be argumentative; but more inductive.
(COMMENT)
I do not necessarily disagree on the intent.
My observation is that, nearly any shifty financial and business slight of hand is ignored by the government just as long as it remains latent. As long as there is an appearance of propriety, then it is allow to continue until it collapses. Examples of scandals are:
- Adelphia Communications
- AOL Time Warner
- Bristol-Myers Squibb
- CMS Energy
- Duke Energy
- Dynegy
- Enron
- Global Crossing
- Halliburton
- Homestore.com
- Kmart
- Merck
- Mirant
- Nicor Energy
- Peregrine Systems
- Qwest Communications International
- Reliant Energy
- Tyco
- WorldCom
- Xerox
This is not to mention the Banking Scandals and Bailouts, the Auto Industry Bailouts and the FannyMae/FreddyMac Scandals.
None of these events were patriotic in nature or subject to proper government oversight. They are a result of the mantra that you "maximize the wealth of the shareholder." They were just plain greedy; and they did not care how many people they hurt in the process. And each one of the principals were pillars of the community, respected names.
(COMMENT)
Understood. Valid point.
(COMMENT)
Today, that is correct. We are in agreement.
But, every time I hear this raised as a point of construct, I what for the unspoken truth to be heard. Most of the large business are gone. That is what makes the small businesses so important. The large industries are gone the way of US Steel,
IBM, Microsoft, Apple Inc. and Intel. --- ExxonMobil, Wal-Mart, Google, Microsoft, General Electric, General Motors, Citigroup and Goldman Sachs, just type in a GoogleSearch Window, any one of these names followed by the word "outsourcing." And remember, Google, Citigroup and Goldman Sachs don't build anything.
However, manufacturing as a share of the economy has been plummeting. In 1965, manufacturing accounted for 53 percent of the economy. By 1988 it only accounted for 39 percent, and in 2004, it accounted for just 9 percent.
The loss of industry is going to have an impact on more than just the standard of living and the economy. If the economy doesn't start generating jobs soon, there will not be enough disposable income to support the small businesses that barely keep the US afloat now.
(COMMENT)
Your point is well taken. I hope that I will never be that greddy or anti-American.
- The US has lost approximately 42,400 factories since 2001.
- As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time less than 12 million Americans were employed in manufacturing was in 1941.
- Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
- The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in the 51 years that records have been kept.
SOURCE: http://theeconomiccollapseblog.com/archives/19-facts-about-the-deindustrialization-of-america-that-will-blow-your-mind
Most Respectfully,
R
