Posts Tagged ‘cheap labor’

Winners And Losers

Winners And Losers

Courtesy of Michael Snyder at Economic Collapse 

When you mention the word "globalism" to most people, they think of something that is going to happen someday in the future.  But the truth is that globalism is already here.  At this point we essentially already have a one world economy.  Goods and services flow across national borders more freely today than at any other point in human history.  A major economic event on one side of the world instantly affects financial markets on the other side of the world.  Labor has become a truly global commodity.  You can go to the exact same fast food restaurant or buy the exact same iPod on six different continents.  A whole host of international trade agreements are making national borders economically irrelevant. 

Today our "big box" stores and shopping malls are jammed full with products that have been made overseas and it is becoming increasingly difficult to find American-made products.  The reality is that it has now become undeniable that globalism has arrived and we are now part of a world economy that is integrating at lightning speed.  Unfortunately, all of this globalism has created some very clear winners and losers.  But most middle class Americans are in such a deep sleep that they don’t even realize that they are the losers.

The sad truth is that as work has become a global commodity, middle class American workers have been placed in direct competition with the cheapest labor in the world.  For years the U.S. economy was so strong that nobody really noticed that it was bleeding thousands of jobs every single month.  But now that 14 million Americans are unemployed and the U.S. economy is literally hemorrhaging jobs people are starting to sit up and take notice.

Let’s take a look at one recent example.  Ford Motor Company has just announced the closure of a facility that produces the Ford Ranger in St. Paul, Minnesota.  Approximately 750 good paying jobs are going to be lost.

But isn’t Ford doing better these days?

Sure.

Don’t people still need Ford Rangers?

Of course they do.

Minnesota Governor Tim Pawlenty even offered Ford a multi-million dollar incentive package full of tax cuts…
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Where Have We been? Where Are We Going?

Where Have We been? Where Are We Going?

Courtesy of James Howard Kunstler 

       On a hot Saturday in mid-July in my corner of the country, when everyone else is cavorting on Million Dollar Beach at Lake George, or plying the aisles of the home Depot, or riding their motorcycles in faux-outlaw hordes, I like to slip away to the neglected places where nobody goes.  I seek out the places of industrial ruin – there are many around here in the upper Hudson Valley, and they are mostly right along the river itself, because there are many spots where the water tumbles and falls in a way that human beings could capture that power and direct it to useful work.

       I always bring my French easel, a wooden contraption ingeniously designed to fold up into a box, to which I have bolted on backpack straps. To me, these ruins of America’s industrial past are as compelling as the ruins of ancient Rome were to Thomas Cole and his painter-contemporaries, who took refuge in history at the exact moment that their own new nation began racing into its industrial future.

      I’ve been haunting this particular site in Hudson Falls, New York, all summer so far. Originally called Bakers Falls, it evolved over a hundred-odd years into an extremely complex set of dams, spillways, intakes, revetments, channels, gangways, and hydroelectric bric-a-brac all worked into the crumbly shale that forms the original cliff. From a vantage on the west side of the river, you can clearly read the layered history of industry as though it was a section of sedimentary rock from the Mesozoic.

blog_Hudson Falls.jpg

     One thing above all amazes me about these American industrial ruins: they’re not really very old. My grandfather was already reading law and drinking beer when some of this stuff was brand-new (or not even here yet!). Unlike Rome’s long, dawdling descent from greatness, America’s industrial fall seems to have happened in the space of a handclap. I suppose it was in the nature of the fossil fuel fiesta that these activities could only last as long as the basic energy resource was so cheap you hardly needed to figure it into the cost of doing business. Which is not to say that the human element didn’t change, too, since obviously it did – as America went…
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Zero Hedge

Black Friday Foot Traffic Down More Than 52%

Courtesy of ZeroHedge View original post here.

By Ben Unglesbee of RetailDive,

Summary:

  • While online sales exploded during the Thanksgiving weekend, trips inside brick-and-mortar stores on Black Friday dropped off significantly, as many ...



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Phil's Favorites

Is Robinhood Good For Investors?

 

Is Robinhood Good For Investors?

Courtesy of 

If you would prefer to listen to this post rather than read it, click the link below.

Michael Batnick · Is Robinhood Good For Investors?  

“Is Robinhood good for investors?”

I was asked this question on a digi...



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ValueWalk

Rockpals 500W/520WH Portable Power Station - Light, Easy, Reliable, Powerful and Affordable

By Aman Jain. Originally published at ValueWalk.

Gone are the days when people traveled with no electric gadget on a camping trip. Nowadays, a camping trip is invaded with all types of gadgets, be it a smartphone, tablet, water filter, camera, drones, GPS units and more. It is not easy to keep all these gadgets powered up throughout the trip, unless you have a portable power station with you. Along with camping trips, a portable power station could also be of use in case of a road trip, or an extended power outage. So, if you are planning to buy a portable power station and are looking for help, then I suggest going for the Rockpals 500W/520WH Portable Power Station.

Rockpals Portable Power Station – easy to use

Rockpals 500W/520WH Portable ...



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Digital Currencies

Five Reasons Why Bitcoin is Going Up

 

Five Reasons Why Bitcoin is Going Up

Courtesy of 

Call it the “Respectability Rally”…

A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.

Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...



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Kimble Charting Solutions

Will Silver Price Reversal Bring Another Historic Decline?

Courtesy of Chris Kimble

Precious metals caught lightning in a bottle for the first 7 months of the year, with Gold notching new all-time highs and Silver making to multi-year highs in August. But both have reversed lower since peaking in August and investors should pay attention.

It might be nothing… or it might be something! Especially for Silver, which didn’t follow Gold’s lead in making all-time highs.

Today’s chart is a long-term “monthly” chart of Silver. As you can see, it was hi-yo Silver for the first 7 months ...



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Politics

Mythmakers: The Men Who Created Donald J. Trump

 

Mythmakers: The Men Who Created Donald J. Trump

Mark Burnett, Jeff Zucker, and the Trustwashing of a Fake President

Courtesy of Greg Olear, Prevail, author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Biotech/COVID-19

Oxford-AstraZeneca vaccine is cheaper than Pfizer's and Moderna's and doesn't require supercold temperature

 

Oxford-AstraZeneca vaccine is cheaper than Pfizer's and Moderna's and doesn't require supercold temperature

Now there is a third possible vaccine for fighting the COVID-19 pandemic. Jakub Porzycki/NurPhoto via Getty Images

Courtesy of Sanjay Mishra, Vanderbilt University

The biopharmaceutical company AstraZeneca has released data on what is now the third promising vaccine candidate against COVID-19 – and it has several advantages over those of its competitors, ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Friday, 12 June 2020, 08:06:43 PM

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Comment: Interesting (2)



Date Found: Saturday, 13 June 2020, 12:27:02 AM

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Comment: Recession Forecasts Time Frame



Date Found: Monday, 15 June 2020, 11:07:52 PM

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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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