I think the news service, especially in the United States is mainly run by people who make their money in the ‘stock market’ world wide.. I don’t think they really care about the real America, or they are so out of touch with the majority of real Americans, that’s why they revere when the ‘stock market’ is up, and print stories like manufacturing and exports up in other countries but are not worried about American manufacturing and exports and deteriorating American cities and American poverty.. We remember President Lyndon Johnson’s ‘war on poverty’.. How’s that war on poverty in America going today? Do you suppose that any of our problems are caused by our ‘debt’? On the way we do business in the USA and outside of the USA now? People don’t really want jobs anymore as they did when I was young. People just want a lot of money to invest so they can purchase and pursue their every whim! Invest in America means something entirely different than it did when I was young! Investing in America meant investing in its young people through social programs like the Boy Scouts and YMCA’s and Big Brothers and younger peoples church groups, investing in America meant taking pride in owning an American made product, having a ‘savings’ account in your bank as opposed to 3 credit card accounts…………
Santelli noted in January the total debt that our children are currently charged with is $3.5 million per baby born today. Santelli is right. Instead of just listening to the media hype and spin, look at the numbers.
Many of us are fortunate to remember the 1950’s and “Made in USA” as an example around the world.. The manufacturers of World War II products switched over to the American car, electronics and appliance production.. American jobs…Where do those cars, electronics and appliances come from today! My dad and his dad built homes for returning GI’s in the San Fernando Valley, those GI’s got many of those jobs in auto plants, aircraft factories and manufacture. (I don’t remember hearing about the stock market on the news in the 1950’s, it was something that was relegated to the B section of the LA times).
South Korea’s manufacturing sector expanded in December for the first time in seven months but new export orders fell, a private survey showed on Wednesday, underscoring a still fragile recovery in Asia’s fourth-largest economy.
The HSBC/Markit purchasing managers’ index (PMI) on South Korea’s manufacturing sector edged up to a seasonally adjusted 50.08 in December from 48.16 in November and 47.37 in October, Markit Economics said in a statement.
It was the first time since May that the index stood above the 50-point mark that separates expansion from contraction in manufacturing activity. Sub-indices for overall output and new orders ended up marginally above 50, driven by new product launches that met domestic demand.
But the new export orders sub-index fell to a seasonally adjusted 48.86 in December from 49.63 in November, marking the seventh month of contraction as overseas consumer sentiment wilted in the shadow of euro zone and U.S. fiscal cliff worries.
South Korea’s economy is widely believed to have turned the corner during the third quarter but both policyakers and analysts predict the recovery will be modest as export demand from the advanced economies remain depressed.
Data released on Tuesday showed that South Korean exports in December suffered their first annual fall in three months due to fewer working days than a year before and as the global demand has yet to fully recover from a slump.
Employment in the USA in the 1950’s
Jobs in the 1950’s flourished in all three sectors: private, public and self-employment. The end of World War II saw an unprecedented number of jobs in manufacturing, banking, the sciences and the arts. As a result of many veterans returning home from the war, marrying and beginning families, housing construction and the network of jobs related to that field soared. This was particularly true in the USA, where housing on both coasts and in-between, was in stages of new development. Another large area of jobs existed in the auto industry with major car companies experiencing huge volumes of orders for Oldsmobiles, Chevrolets, Fords, Pontiac, Chryslers and others. In both blue collar and white collar sectors, an abundance of jobs were available even as small businesses grew larger and larger.
Jobs in retail sales, customer service, bookkeeping, office administration, purchasing, shipping and receiving, secretarial and accounting were part of the necessary operation of most businesses. Departmentalizing as growth continued only added to the need for additional staffing. Union jobs, such as those in manufacturing, importing and exporting as well as those in the steel, chemical and equipment processing industries, offered a safe, secure working environment in which upward mobility could also increase the salary range over time. The USA, as an example, led the world in steel and plastics production. Jobs in engineering increased as a result of demand for infrastructure design and implementation. With the volume of chemical companies surging, chemists, chemical engineering and specialty engineering in fields such as packaging, metallurgical and mechanical engineering were a result of hi-volume demand for goods nationally and internationally.
Salaries of the 1950’s
The salaries of a US manufacturing manager, one of the top positions in employment, hovered close to $100,000 in the 1950’s. CEO salaries, depending on the corporation, grew far more slowly than that of middle management and other employees, according to Fortune Magazine, June 2001. In 1950 in the USA, President Harry Truman signed into law The Revenue Act, tying stock options to pay. This would have immeasurable ramifications for the future on how executive employees would receive salary increases. The average middle class salary for a single earner in 1950 was well below $32,000 annually in most non-professional, non-licensed fields. White collar jobs paid far less in salaries while benefits such as medical, retirement and stock options added to the value of most 1950’s jobs. The 1950’s, for the most part, was an “employee’s market”. However, one of the personal attitudes required to be hired for a position was longevity. Employees of the 1950’s sought employment with the frame of mind that if they worked hard, earned a good salary with employer-paid benefits
and adhered to “company policy”, they were insured a job for a lifetime.
Job seekers in the 1950’s looked for employment that had potential growth far into the future. Jobs in the arts and especially, television, a relatively new innovation, created an additional venue for employment as had those in research and development.
A country’s source of production is its domestic manufacturing base. Without American-based companies, our country receives no production and creates no real wealth. America has allowed our companies to be sold off to foreign competitors on the open stock market. Over 16,000 of our best wealth producing companies have been auctioned off and the U.S. has no authoritative government agency prohibiting this Great American Sell-Off. A country that produces nothing produces no wealth.
The Committee on Foreign Investment in the United States (CFIUS) was developed to oversee the national security implications of foreign investments into the U.S. economy.
According to Wikipedia, CFIUS was directed to:
If the foreign acquisition of a U.S. company goes against U.S. interests, CFIUS has been directed to stop the takeover and order divestment. Since enacted in 1975, CFIUS has only done this once.
We have sold such a large number of our companies that we must now live on imports. As a result, the U.S. incurs massive amounts of debt (owned by foreign countries) that can in turn only be repaid by selling our wealth producing companies and assets. This cycle must end. Very soon we will be unable to even protect and support ourselves.
RCA is now French, Zenith is Korean. Frigidaire is owned by a Swedish company. IBM’s Personal Computer Division–with its 500 patents–is now a Chinese company. Westinghouse Nuclear Energy’s major shareholder is Toshiba–a Japanese company. Lucent Technology, a former research division of AT&T, along with all the patents acquired from the beginning of the phone system, is now a French company. In 2008, Brazilian-Belgian brewing company InBev purchased the iconic American brewer Anheuser-Busch, makers of Budweiser. With the sale of these manufacturing companies the future profit and technologies all belong to foreign entities.
As we produce less with what little American-owned factories remain, our debts compound. In 2010 our Balance of Trade Deficit (debt) was just under $633 billion. The 2010 deficit, reduced due to the global recession, is small compared to the deficits of the past 5 years. In 2008 the United States’ trade deficit was almost $700 billion, heightened by the $835 billion deficit in traded goods. Our national debt is $14 trillion. If every citizen (regardless of age) were required to pay off that debt, each would be responsible for approximately $45,000.
The trade crisis is predominantly fueled by our import/export ratio with China. In 2008 (the year economists admitted there was a recession), the U.S. traded at a deficit of $268 billion with China alone.
The United States needs to take the steps necessary to restore manufacturing to our country. This must be done through policies that discourage the outsourcing and offshoring of American companies and workers. The WTO and the respective Free Trade Agreements associated with the organization have been a major catalyst in this destructive trend. The WTO, which is the only global international organization dealing with the rules of trade between nations, consistently rules in favor of foreign interests and often counters U.S. laws. As long as we are in the WTO, we cannot fix our trade deficit.
The United States has options though. The WTO charter specifically states that countries experiencing large trade imbalances can take a hiatus from WTO regulation. The United States desperately needs independent policy creation. Our middle class is dwindling, unemployment continues to rise and no prospective agenda to naturally restore manufacturing has yet to be introduced. As long as the U.S. remains under WTO control, our job growth will continue to decline and wealth will continue to depreciate. There is no reason for the U.S. to remain in the WTO through such a difficult time; there’s no one who can stop us from leaving. So why don’t we?
The concentration of poor people living in Toledo’s poorest neighborhoods grew by more than 15 percent in the past decade, giving the metropolitan area the unenviable distinction of No. 1 among American’s largest metro areas.
More than 46,000 people reside in neighborhoods with poverty rates of 40 percent or higher in the metro area — which includes Lucas, Fulton, Ottawa, and Wood counties — with all but one of the 22 poor neighborhoods located within the borders of Toledo, according to a Brookings Institution study of the 100 largest metropolitan areas in the country.
Deb Ortiz-Flores, director of Lucas County Job and Family Services, said she was not surprised at the city’s top rank for impoverished people living in extremely poor neighborhoods.
She said the number of people receiving food-stamp assistance nearly doubled over the last 10 years, going from about 51,000 people to 96,000
“Women have always been the hidden homeless demographic,” explained Dan Rogers, Cherry Street’s president and chief executive officer. Landlords typically are far more reluctant to throw women and children out on the street than to oust men, he said.
Phillippe Kurek, 49, of Oregon, said he picked up some clothes to save money for other expenses. He and his wife, Karen, 48, who has lupus and other health problems, are barely making it on his $675 a month in Social Security and disability benefits, Mr. Kurek said.
He said his landlord has been generous with him because he and his wife helped care for the landlord’s late mother when she had Alzheimer’s disease.
“People need to get out and help other people,” Mr. Kurek said.
The need has gone beyond Toledo’s city limits and penetrated its suburbs.
A recent Brookings Institution paper shows that Toledo had more than twice the national average of suburban poverty between 2000 and 2008.
Posted: 01/16/2013 6:03 pm EST | Updated: 01/16/2013 6:03 pm EST
The January 2013 report also suggests that more than half of all Americans will have experienced poverty by the time they are 65.
According to the 2011 Federal Poverty Threshold, a single person earning $11,484 and a family of four earning $23,021 are considered to be living in poverty.
1964: Food Stamps, initially 350,000 people, now 42 millionIn 2010 came news that 41.8 million Americans were on food stamps and the White House was predicting that the number would grow to 43 million in 2011. It did: by February 2011, 44.2 million Americans, one in seven, were on food stamps. In Washington, D.C., more than a fifth of the population was receiving food stamps.
To chart America’s decline, the explosion in the food stamp program is a good place to begin. A harbinger of the Great Society, the Food Stamp Act was signed into law in 1964 by LBJ. Initially, $75 million was appropriated for 350,000 individuals in forty counties and three cities. However, no one was starving in the 1960s.
Map data source: Current Population Survey (CPS), 2011 Annual Social and Economic Supplement (ASEC).
Poverty rate info by county, throughout the US
Info on CCHD-funded organizations that are helping to fight domestic poverty.
In January, only 57.9 percent of the civilian labor force was employed.
We keep electing the wrong “paramedics”, will America live?