http://tinyurl.com/z6my57o

On Wed, 29 Jun 2016 12:43:02 -0400, Keyser Söze
wrote:

http://tinyurl.com/z6my57o

The writer is simply not willing to accept the truth. There is still
plenty of profit to be had, it is just not going to come from hiring
people in the western democracies to produce the products. We call
that globalism. Capitalism is doing fine. It is just the workers who
are in trouble because we are in a world labor market and demanding
higher wages just means closing the plant and moving the operations
offshore.

This really started during the "Clinton Prosperity" which was really
just boom times on Wall Street. It was a bust for American workers.
That was when the erosion of the corporate safety net for employees
started, benefits evaporated, jobs started moving away, with the goal
of pumping up corporate 90 day goals. We were deluded into thinking a
booming stock market was prosperity while our jobs slipped away.

You are right about one thing. The situation is gloomy for the western
world. The problem is the loss of those high paying jobs but the
mechanism of failure will be around the debt we have piled up trying
to deny the fact that the economy is failing. As I pointed out
yesterday, in the last 8 years, we borrowed $7 Trillion, printed $4.5
trillion out of thin air and that only resulted in $2.8 Trillion in
GDP growth.