How the Economy Was Lost: Casting Off America

Slumdog Millionaire actors visit Disneyland

-Casting Off America-

"If truth be known, the "banking problem" is the least of our worries.
Our economy faces two much more serious problems. One is that offshoring
and H-1b visas have stopped the growth of family incomes, except, of
course, for the super rich."
-Paul Craig Roberts

“It’s not the Economy, Stupid. It’s YOUR JOB!”
-2Truthy

Why are American citizens allowing elites to hand over jobs to India? The stimulus bill has U.S. citizens, not Indians, picking up the tab, too! Why don’t the failing banks get their bailout from India, instead? From the white collar job sectors of technology to medicine to finance to journalism, corporate elites in this country are rejoicing in selling out American jobs. We can’t even seem to appreciate our own movies anymore, either. Unless you troll the trough of the hubris diseased, “ordinary” educated Americans are no longer deemed eligible to partake in corporate and local community building. Oh Hell. Even Hollywood can’t stop itself from succumbing to the hubris opiate, slumming and skimping on quality as evinced by the Academy’s all out political promotion not of at least two Oscar worthy Hollywood films (IMHO Milk and Frost/Nixon) but an unarguably mediocre film to instead hand over eight Oscars to, one for Best Film. But that’s OK. We have a reputation as being a great, gracious nation - only these days, just not to each other. Have the disastrous Bush years so thoroughly eroded our collective sense of national pride and camaraderie to warrant this “kick me please” sign on the backs of our own citizens?

In his article entitled How the Economy Was Lost, Paul Craig Roberts summarizes what yours truly has been writing over and over and over and over and over and over and over again about the distinct, hate thy neighbor brand of hubris and greed in this War on America’s white collar middle class that has been led by America’s corporate elites and their fawning “new media” sycophants.

Roberts reports that while U.S. financial regulators abandoned integrity and “fled their posts” while MSM and “New Media” outlets drummed the lie of an American “skilled labor shortage” to promote H-1B visa workers to replace Americans, outsourcing’s “inner circle” has deep roots in GE and McKinsey, among others that have promoted the sell out of America’s white collar middle class. After all, citizens can afford a Depression only if they have jobs. But that is not part of the blueprint by a few CEOs and elites in this war on America’s white collar middle class:

“The pressure of jobs offshoring, together with vast imports, has destroyed the economic prospects for all Americans, except the CEOs who receive “performance” bonuses for moving American jobs offshore or giving them to H-1b work visa holders. Lowly paid offshored employees, together with H-1b visas, have curtailed employment for older and more experienced American workers. Older workers traditionally receive higher pay. However, when the determining factor is minimizing labor costs for the sake of shareholder returns and management bonuses, older workers are unaffordable. Doing a good job, providing a good service, is no longer the corporation’s function. Instead, the goal is to minimize labor costs at all cost.”

So far, that goal appears to be working out just great. With a little help from a few trough slopping “New Media” hacks to pick up where the Old Media left off, Meet the New Boss Same as the Old Boss has never sounded so good for a few greedy corporate elites and their “leading a movement” sycophants.

Party on, plebs!

-2Truthy