Let’s hear it for Citigroup, Goldman Sachs, Morgan Stanley, and other Wall Street banks that are opening up tens of thousands of new, well-paying jobs for researchers and analysts!
Unfortunately, the jobs are in India, the Philippines, and Eastern Europe, with many also headed to China. These powerhouse bankers – who profit enormously from America’s people, laws, protections, and subsidies – no longer feel any responsibility for providing good American jobs. Indeed, they are likely to offshore some 40 percent of their research-related jobs, cutting about 200,000 U.S. employees this year alone.
Thursday, September 25, 2008
Outsourcing the financials
If there is to be a bailout, let's make sure that the money does not go overseas:
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7 comments:
Hellllo American Caste System, for this little financial market "collapse" would be nothing without the dirty little secret courtesy our pal Hillary (Chair of the Senate India Caucus)holds to her credit: hand off the middle class jobs to imported third world workers. Look around.
Thanks for pointing this crucial fact out that the so-called progressive blogosphere is oddly mute about.
The deal is done. American corporofascists have no more use for American middle/upper middle class white collar professionals any more (unless they want to work for twenty - thirty grand a year like the cheap workers from India whom they are flying over on 747's daily to do.)
-> ... stupid ... it's KAPUTALISM ..
I forgot to mention in my previous comment that Barry is ALSO down with tossing out American white collar Americans as part of this collosal corporate welfare "economic collapse" roadmap to the bottom. Currently, there are bills in Congress to allow millions of foreign workers to come to America to take white collar jobs (during an economic recession or "depression"?) that our Democratic presidential candidate supports.
anon, nope. It's called progo-cialism with all kinds of support from surprisingly clueless Dems and it lets (practically) everybody who went to college and above get to be a slave working for less than plumbers make. Fun!
Barry and his peeps must be laughing their asses off about his freedom march speeches equating him to the great Dr. King when Barry (as Hillz and Mc C)are also for selling out all the white collar jobs in town left long after this Wall Street black comedy is over. It ain't capitalism but feudal lordism. Party on.
....but don't forget that this is an antiSIBPATS site. Both parties are NOT the same! See, one does it in your face, and one does it behind your back. But seriously folks, who needs a middle class? Threatening the middle class' very existence is a great road to fascism. Gott mit uns!
The attempt, largely successful, to limit thinking to the two choices of Socialist or Captialist is a trap for the minds of those who are not familiar with the principles of the American System of political economy.
A brief introduction into the Americian System of political economy of first Secretary of the Treasury, Alex. Hamilton (and others) here:
http://members.tripod.com/~american_almanac/nbs3.htm
Here.
As I posted over at Blondesense:
It Ain't Just Us
Bloomberg's Headline: "Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says"
"Japan, China and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank."
(....)
"An agreement is needed so that no nation rushes to sell, 'causing a collapse,' Yu said. Japan is the biggest owner of U.S. Treasury bills, holding $593 billion, and China is second with $519 billion. Asian countries together hold half of the $2.67 trillion total held by foreign nations."
Ya' s'pose that's part of the neocon plan? They don't care if they drag us down as long as the rest of the world gets flushed down the shitter too?
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