Outsource, hire cheap labour, cut costs. The stock goes up and a gangster ceo makes 60 millions in a year. The products are garbage, sell most to the government, who cares.
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Globalism has been about one thing: cheap...
Cheap starts on the manufacturing side. With the extra money they got they built far better education systems which produced people capable of doing the front end R&D and there is a lot of world leading work going on in those other countries now. Over 30 years the GDP per capita in China alone has gone from $377 in 1993 to $12,614 in 2023.
Meanwhile all the added value created by increased productivity in the US has gone only to the top, the media they own tells you "it's all wimin and furiners!" and you buy it lock, stock and barrel.
I understood all that up front and won that round of capitalism, but the next round of shutting down all major government R&D outside the military as well as education and R&D from K through PhD all the way into private sector companies while pushing massive increases in private and public sector debt seems like it will knock out the bottom 99% and could take out the top 1% as well. 2008 required most of the world's largest governments to stabilize and we've told them to F off so I'm not expecting their help if the ever increasingly unstable system finally slams into a limit.
Globalism has been about one thing: cheap, slave like labor…cloaked in “good”. That’s your neo-liberalism evil in a nutshell.
Let it die.
That is a $6T transfer of wealth to the middle class in less than a week.
Please explain.
Thank you for your wonderful insight.
Greed is Good
by "other" I will assume you are talking about mandatory race and gender brainwashing courtesy of our valued educators
Do you have any awareness of anything about the world around you?
Just a small subset:
Finance: Hayes showed us being profitable doesn't matter if you can't manage cash flow.
Accounting: Multi-billion dollar companies that pay $5 in taxes require accounting skills.
Law: there are so many touch points from contracts with providers and customers to purchasing property to trademark and patent law to rules and regulations and beyond.
Medical: while some areas are considered STEM others are not. The ones that aren't are still important to society.
Every significant culture (so not incel drones who dream only of being chained to cubicles) also values, art, literature, music, etc..., some of which serves aesthetic reasons and some of which serves practical reasons.
He successfully transferred massive wealth from the poor (if you have to work you are "the poor") to "job creators" like me, created massive government deficits, produced very few jobs while pushing millions off health insurance. He's the republican dream.
This is such an id--tically low info take. Have you seen the stock market tank? Guess what... 94% of stocks are owned by 8% of folks in the US. That is a $6T transfer of wealth to the middle class in less than a week. And this will force the fed to lower interest rates. Trump is a legit everyman's dream of a president.
Do you really think our jobs, consisting of mostly sitting all day, typing on a little plastic box, talking on a little plastic phone; are truly worthy of such pay levels?
It is time for a wake up call. Back to basics. No one is guaranteed anything.
We all need a dosage of stark reality. Too big, too good, for too long.
This is a good step in a start-over. Those that are the toughest, will survive and flourish. Those who have been coddled and feel the world owes them something for nothing, will learn true reality through a rude awakening, when they start to see, no everything is not going to be handed out on a silver platter.
We have been beamed back to a different mindset. Stark reality. Deal with it. Simplify your lives. Learn to rely on yourself and not the system.
Adversity builds character. Embrace it. If not, go live in a box under a bridge.
and other areas of education
by "other" I will assume you are talking about mandatory race and gender brainwashing courtesy of our valued educators
American students: fail at math, but can name more gender variations than students in any other nation! thank you America's teachers, our students are truly prepared for the future
That’s capitalism you d-mb buffet !!
American Greed
Outsource, hire cheap labour, cut costs.
How many people rejected stock offerings from Cisco? How many people on the Cisco threads on this site whine about their six digit salaries being too low? Do you expect the state to take care of you when you're no longer employable or do you take personal responsibility and invest for your future?
Democrats refer to this system...
From https://en.wikipedia.org/wiki/Protectionism_in_the_United_States :
During the Reagan and George H. W. Bush administrations Republicans abandoned protectionist policies,[citation needed] and came out against quotas and in favor of the GATT/WTO policy of minimal economic barriers to global trade. Free trade with Canada came about as a result of the Canada–U.S. Free Trade Agreement of 1987, which led in 1994 to the North American Free Trade Agreement (NAFTA). It was based on Reagan's plan to enlarge the scope of the market for American firms to include Canada and Mexico. President Bill Clinton, with strong Republican support in 1993, pushed NAFTA through Congress over the vehement objection of labor unions.[70][71]
In 2000 Clinton worked with Republicans to give China entry into WTO and "most favored nation" trading status...
Opposition to liberalized trade came increasingly from labor unions, who argued that this system also meant lower wages and fewer jobs for American workers who could not compete against wages of less than a dollar an hour.
It's not just Reagan who drove NAFTA but the Heritage Foundation which supported free trade including NAFTA and later the H-1B program. The unions which the republicans have been trying to destroy for decades were the ones opposing these. Free trader Chairman Emeritus of Cisco, John Chambers, was the co-chair of John McCain's presidential campaign, another republican who voted for NAFTA and supported free trade as well as the large scale expansion of the H-1B program. Claiming all of this is purely a democratic idea is a lie beyond the absurd.
...sell most to the government...
The first result that comes up in the Google machine says about 10% of Cisco's revenue is from the US government. For our obviously non-English speaking friend, 10% is not "most" of 100%.
yeah! its the democrats' fault! grow up dou--e bag
Welcome to the correction and the economic reset the world needs, but not the one the liberal economic order wanted. I'm here for it.