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Posts Tagged ‘Globalization’

NY Financiers in Charge of Obama Economic Policy

by Phantom Ace ( 5 Comments › )
Filed under Barack Obama, Economy at May 1st, 2009 - 8:19 am

The same clowns that brought us Globalization, Outsourcing and Bad Mortgage Loans are the ones running the Obama White House Policy. These Financiers and Bankers are in cahoots with the Left because they also believe in ending America’s Independence. They believe in a Global economy since they benefit from it.

Obama’s 100 Days: Wall Street Crowd Makes His Administration Like Grant’s

If anything, the financiers are more solidly in charge now than they were during George W. Bush’s presidency, when the New York Times declared that “Government Sachs” was a reality. Today, such figures as Timothy Geithner, Lawrence Summers, and Steven Rattner are accelerating the Bush era’s finance-favorable policies, piling bailout on top of bailout. Even nonfinancial policies are being drafted to serve Wall Street; the “cap-and-trade” greenhouse gas proposal, for example, would do more to boost the bottom line of neo-Enronesque pollution mongers than to reduce carbon dioxide.

How did this happen? As economist Simon Johnson observed recently, “A whole generation of policymakers has been mesmerized by Wall Street.” And now Obama seems similarly ensorcelled. Johnson, a former chief economist for the International Monetary Fund, writes in the Atlantic that America is descending into the financial vortex that Russia, Argentina, and Thailand plummeted into back in the ’90s. How so? The same insiders and self-dealers who created the crisis “are now using their influence to prevent precisely the sorts of reforms that are needed.” And yet, he adds, “The government seems helpless, or unwilling, to act against them.” That “quiet coup,” Johnson warns, could turn America into a “banana republic.”

I have to disclose, I work for a financial institution. I know the mentality and their attitude is to keep wages low so they can reap big bonuses. Many of the bailed out companies are still off-shoring jobs overseas and using the bail out money to create jobs in China and India. It was this mentality in Corporate America which turned me off to Economic Conservatism. Why cut their taxes when they will get rid of American jobs?

These Financiers are not loyal to America. Like the Left they think in Global terms and are selling this nation out.  Conservatives need to wake up and realize Wall Street isn’t our friend. I know many will debate me out of principle, I respect that. I am just trying to wake the Right up to the fact, That Wall Street isn’t on our side and these people are traitors to America. I want an economic policy that benefits all Americans and the nation. Not one that helps out India, China and Democrats on Wall Street.

Here’s my theory, I believe, that Wall Street likes this situation. They like an economic system where they can pay low wages and give themselves big bonuses. The Progressive Left likes this also since people out of anger will vote for them. Then since people can’t get by or improve their economic conditions, they will become dependent on government. Hence they will vote for Democrats. It is a win-win situation, Wall Street keeps wages low and the Democrats have people depend on government. Let us debate my theory and all opinions welcomed.

Another Example of Economic Elitism

by Phantom Ace ( 48 Comments › )
Filed under Economy at April 27th, 2009 - 8:25 am

If you want to see why the Right is in trouble, it is articles like this one. As is known the American IT industry has been decimated by India and China. Our companies no longer want high skilled American workers. Instead they want to outsource to India or enemies like China, or bring in more Indians and Chinese with the H-1B Visas. This has led to decreased wages and lower standard of living that has contributed to this economic crisis of course this Globalist/Free Trader doesn’t grasp this.

We Need an Immigration Stimulus

The pace of lower-skilled migration has slowed due to higher unemployment. This could make it less contentious to ease the path to legalization for the 12 million undocumented workers and their families in the U.S. It’s also a good time to ask why we turn away skilled workers, including the ones earning 60% of the advanced degrees in engineering at U.S. universities. It is worth pointing out the demographic shortfall: Immigrants are a smaller proportion of the U.S. population than in periods such as the late 1890s and 1910s, when immigrants gave the economy a jolt of growth.

Immigrants have had a disproportionate role in innovation and technology. Companies founded by immigrants include Yahoo, eBay and Google. Half of Silicon Valley start-ups were founded by immigrants, up from 25% a decade ago. Some 40% of patents in the U.S. are awarded to immigrants. A recent study by the Kauffman Foundation found that immigrants are 50% likelier to start businesses than natives. Immigrant-founded technology firms employ 450,000 workers in the U.S. And according to the National Venture Capital Association, immigrants have started one quarter of all U.S. venture-backed firms.

This is all BS. H-1 B visas lower wages and squeeze Native Born Americans out of Hi-Tech jobs. This leads to lack of native born which is dangerous. By doing this, this discourages Americans from getting involved in these industries.

I favor Immigration, but not the type that destroys the well being of Americans like the H-1B Visa program. Globalization has destroyed America, why keep going down a dead end path. We have plenty of talent here, let us use it!

Update:

Just for the record, I am NOT an Economic Conservative. I am Rightwing on National Security issues and Libertarian on Social Issues. I stand for the Traditional Judeo-Christian/Greco-Roman Culture of America/Europe/Latin America/Israel/Phillipines. However when it comes to economics, I stand with the Populist side of the economic debate. I support free markets but not Corporatism/Free Trade/Globalization. That is where I stand. I put National interests above Corporate interests.

JPMorgan chase to increase outsourcing by 25%

by Phantom Ace ( 17 Comments › )
Filed under Economy at March 12th, 2009 - 10:34 am

This is another reason America is in trouble. JPMorgan which received 25 billion from the US government is outsourcing more jobs to India. This will lead to more unemployment, less tax revenues and more DEMOCRAT Voters.

JPMorgan Chase to Increase India Outsourcing 25%

The second-biggest bank of the US, JP Morgan Chase, which acquired Washington Mutual and Bear Stearns recently, will increase its outsourcing to India by 25% this year to nearly $400 million. It will also manage the integration of the acquired companies from India to bring down the cost of integrating different information technology (IT) systems.

Right now, JP Morgan outsources $250-300 million worth of IT and back-office projects every year to Cognizant, TCS and Accenture, apart from to its own captive centre in Mumbai.

Where is Obama’s promise to stop companies from shipping jobs overseas? Oops I forgot, JPMorgan CEO Jamie Dimon is an Obama supporter! That’s right, if you support Obama you can still do this.  In a way Democrats like this, as it leads to more people who depend on the government, and hence more votes for them.  It is a great scheme.

Economic Conservatives will defend this since it is a “Free Market” decision. They put Corporate interest above National interest. What they don’t realize is that this leads to more government dependency. This needs to stop for the sake of our economic well being. I am a National Security Conservative and realize the dangers of this. I also don’t want Marxism, but actions like these creates more Marxists. I wish my Economic Conservative allies would wake up and realize this.