But the objective of business is to make as large a profit as they can. Having American goods made by cheaper overseas labor increased profits but what was not taken into account was that laying off each wage earner really affected 4-5 other wage earners resulting in a much greater loss of taxes and savings; i.e., closing a plant and laying off 1000 workers has the effect of actually laying off 5000 workers.

For a business, this is not their problem. There is a belief that the American middle class is large and can handle such an impact … so they say. In addition, the business’ offers these foreign built products at a reduced price in convenient large shopping malls. Also, they’ve paid workmen’s comp and offered re-training courses. Not one of these things are an equivalent full time job to replace the one the worker was laid off from.

Also, thinking that the now wealthier business owners and shareholders will spend their increased income in the local communities is naive. Do they even live in the local communities? How many limos have you seen in Walmart and Target parking lots? How many nannies, cooks, and gardeners can these people hire to be equivalent in pay and skills to the skilled wage earners that are no longer working?

To fix this economic downturn, the American middle class must start working again to have the income to buy things and to pay off any loans. In order for the middle class to do this, they must have real jobs irrespective of the impact on foreign countries. If the foreign economies were in good shape, then they would be weathering the American financial screw up with minimal impact on their own economies. The foreign economies actually depend on the American middle class to buy the goods they produce.

What is needed is a form of “Environmental Protection” for the American middle class worker.

we need a massive reconstruction of the economic foundation of this country, which is GOOD, manufacturing/agricultural/tech VALUE-ADDING jobs. we can not run the “greatest country in the world” by selling each other burgers.

What a great comment.

You give a wonderfully concise and telling summary of how main street had its financial pockets cleaned before being dropped off the jobless cliff.

http://www.robotsagainstchasebank.com

Until “we” lose our jobs, I guess.

“Jobless recovery.” When I first read that, I wondered: is that a sick joke? Or maybe a oxymoron [stress on the moron part]. People without jobs means no spending and business failing, people losing everything they’ve worked for [meaning defaulting on loans, mortgages, etc.], a withering tax base, an uptick on social services like unemployment. But then, the states are crumbling under the weight of the need. Why? Withering tax base, and increase in social services and the huge losses they took as a result of all that bankster love.

The solution? Give the banks more money and pretend they’re solvent–so we have to fudge the books. Call it “creative,” then it’s all good. Extend unemployment benefits, run up the national debt, call a cash for clunkers program a wild success to the tune of $1 billion [chump change] and keep the happy juice flowing. For those who refuse to drink, call them a mindless, disgruntled mob.

Bread and circuses.

To add insult to injury, let’s propose an increase in taxes [VAT tax, health tax, whatever] on those still working and the businesses that manage to keep their doors open. And, of course, keep spending that borrowed money because as Joe Biden said [another slip]: we’ve got to keep spending money to stay out of bankruptcy.

Maybe Obama and his crew ought to take a look at Jefferson County in Alabama. The state is talking about calling in the National Guard because the county, home of Birmingham, is in danger of complete collapse and civil unrest.

Jobless recovery = alot of ticked off citizens. And frankly, I don’t think our National Guard is big enough.

Cash for Clunkers program will change the automobile industry

Sure, who is going to buy a new car that doesn’t come with the government teats on them?