According to the Wall Street Journal, during the last ten years, US multinationals fired 2.9 million workers here, AND hired 2.4 million workers abroad! Does anyone ask : WHY? Yes of course… Because it is cheaper to hire abroad even if that fellow in India is incapable of communicating effectively.
Next question is: OK I understand these companies want to reduce costs and increase profits. OK then who benefits from that? Aha! The investor in these companies.
Then all Americans should benefit right? Wrong… The 2008 financial crisis eliminated the savings of the middle class by eroding their pensions which are invested in the stock market. So then who benefits? Those who can afford to. The top 5% or less. And what do they do with this money? They re-invest it in the stock market in the same instruments that caused the financial disaster of the past ten years.
Do we better understand the worldwide :Occupy Wall Street and equivalents movements now? God help us…
Unemployment figures
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