Globalization is destroying the American Dream

Globalization is a great idea--with modern technology reducing the barriers to trade and commerce between regions and countries allowing economies to take advantage of whatever uniqueness and efficiencies those areas can contribute. But for the U.S. the current picture of globalization is driven by the "efficency" of lower labor costs. Wages/labor costs are unique in that they represent two conflicting elements in business models--as a cost they raises the price of a product, as a wage they represent potential demand. Keeping that relationship in balance is crucial to a vibrant economy. Before the advent of modern technology a company/corporation had an investment in it's region/country. It was in a relatively closed market for both labor and consumption with, in fact, the labor as consumer. So it was in the best interest of a company to maintain some adequate wage level so that it could sell its products. And, in a related way, the taxes that an entity paid went into the local economy and had a long term benefit for the taxpayer. With the advent of modern technology and the consequent reduction in barriers to globalization a company/corporation was no longer in a closed market. That relationship of labor as consumer was broken and those corporate entities were no longer tied to a region/country. As a multinational corporation it could sell enough product worldwide so that it no longer had an investment in the wage level of any particular region and,in fact, sought the cheapest labor available. The consequence was that as wages went down so did prices and/or profit margins increased. And in the short term as those prices went down more product was sold. But the long term effect was that as wages went down so did demand--as wages represent the ability to buy any product. But is wasn't just a reduction in wages, it was a wholesale migration of jobs to those areas offerring lower wages. As wages represent demand the lowering of wages represents a lowering of demand and lost jobs meant the complete loss of demand.( A recent analysis by EPI indicated that the U.S. has a deficit of 11,000,000 jobs caused by these recession.) The U.S. responded to this loss by racheting up debt and establishing asset bubbles which has ultimately resulted in our current situation.
A major point  in conservative business philosophy is to reduce the power of labor and reduce the wage level.  As indicated this can result in short term profitability but damages the long term economic health of any country. But, as also indicated, multinationals are no longer tied to any countries economic health.
The relationship between wages, taxes, regulation, productivity is a complex interactive one and this is a pretty simplistic model but when you support conservatives you support this model.
 

It Was the Banks | CommonDreams.org

It Was the Banks CommonDreams.org

This is a good read--It addresses the failure of President Obama to address a few of the issues that many liberals are concerned about and resulted, unfortunately, in the low liberal election turnout. The basic message is that banks are not our friends and do not have our interests as a core value of theirs. But as a liberal, our failure to turn out for this election and attempt to repudiate those values means that those conservative values that are so damaging to a liberal worldview will be our values.

NYTimes: Rare Earths Stand Is Asked of G-20

From The New York Times:

Rare Earths Stand Is Asked of G-20

A business coalition asked the organization to oppose the interruption of the flow of the crucial minerals because of industrial policies or political disputes.

http://nyti.ms/aony83

Get The New York Times on your iPhone for free by visiting http://itunes.com/apps/nytimes

Lindsey Swift

Huffington Post: The Fed Rains Money On Corporate America -- But Main Street Left High And Dry

 

		The Fed Rains Money On Corporate America -- But Main Street Left High And Dry
	Bill Gross will be one of the few to benefit from the Federal Reserve's announcement this afternoon. The legendary money manager, who oversees more than...

 

Lindsey Swift

living in actively moving water

http://www.activelymovingwater.com/

Lindsey Swift

Fwd: FDA MedWatch - Hyland's Teething Tablets: Recall - Risk of Harm to Children

Lindsey Swift

Begin forwarded message:

From: FDA MedWatch <fda@service.govdelivery.com>
Date: October 23, 2010 11:38:56 PM CDT
To: lindseyadamswift@gmail.com
Subject: FDA MedWatch - Hyland's Teething Tablets: Recall - Risk of Harm to Children

Hyland's Teething Tablets: Recall - Risk of Harm to Children

AUDIENCE: Consumers, Pediatrics

ISSUE: FDA notified consumers that Hyland's Teething Tablets is being recalled because the tablets may pose a risk to children. The tablets are manufactured to contain a small amount of belladonna, a substance that can cause serious harm at larger doses. For such a product, it is important that the amount of belladonna be carefully controlled. FDA laboratory analysis has found that Hyland's Teething Tablets contain inconsistent amounts of belladonna.

FDA has received reports of serious adverse events in children taking this product that are consistent with belladonna toxicity. The FDA has also received reports of children who consumed more tablets than recommended, because the containers do not have child resistant caps.

BACKGROUND: Hyland's Teething Tablets is a homeopathic product, intended to provide temporary relief of teething symptoms in children. It is sold over-the-counter (OTC) in retail outlets. The FDA has not evaluated Hyland's Teething Tablets for safety or efficacy, and is not aware of any proven clinical benefit offered by the product.

RECOMMENDATION: FDA recommends that consumers not use this product and dispose of any in their possession. FDA advises consumers to consult their health care professional if their child experiences symptoms such as seizures, difficulty breathing, lethargy, excessive sleepiness, muscle weakness, skin flushing, constipation, difficulty urinating, or agitation after using Hyland's Teething Tablets.

Healthcare professionals and patients are encouraged to report adverse events or side effects related to the use of this product to the FDA's MedWatch Safety Information and Adverse Event Reporting Program:

• Complete and submit the report Online: www.fda.gov/MedWatch/report.htm
• Download form or call 1-800-332-1088 to request a reporting form, then complete and return to the address on the pre-addressed form, or submit by fax to 1-800-FDA-0178

Read the MedWatch safety alert, including a link to the FDA News Release, at:

http://www.fda.gov/Safety/MedWatch/SafetyInformation/SafetyAlertsforHumanMedicalProducts/ucm230764.htm

 

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@kate_sheppard, 10/21/10 7:53 PM

Kate Sheppard (@kate_sheppard) 10/21/10 7:53 PM NOAA Arctic Report Card today says record temps have substantially melted sea ice; "return to previous Arctic conditions is unlikely."

Lindsey Swift