U.S. Jobs Machine Needs a Tune-Up
January 5, 2012
Our Economy is Going Nowhere
The White House today announced a new jobs initiative that will create 180,000 youth employment opportunities in the summer of 2012. At a time when our economy is still struggling to fully recover and most of the mainstream media is obsessed with the primary season, it was encouraging to hear the focus, even for a day, shift to the sluggish jobs market. However, our seemingly-stalled recovery is still troubling; we have moved well beyond the normal period of time when the economy should be surging back to full strength. What is the root cause of our ailing jobs market?
As it turns out, 20% of gross job production comes from not just small business, but young businesses. Businesses that are less than 5 years old have one of the highest rates of job creation because, in their desire to rapidly expand, they are desirous of growing their production rates as rapidly as possible.
But now we have run into a problem: old businesses that have established themselves firmly in the driver’s seat are preventing the new, young businesses from getting a foot in the door. How? Lobbyists for those entrenched special interests. Money goes to politicians, who in turn craft laws and policies that reflect the contributions they received. When the old business would have normally expired in its usefulness or viability in the market, they are able to maintain a hold much longer because new businesses to replace them don’t come.
It wouldn’t be fair to say old business and lobbyists are the only cause of the problem; many companies complain, even today, of having positions available that they can’t fill because there are not enough skilled laborers. Which points, in turn, to a failing in our education system. If we aren’t turning out skilled laborers that can compete in today’s market, then it is unfair to point only to the failed job creators as the sole problem.
Again, it is refreshing to hear the conversation turn to jobs, and every one of those 180,000 youth positions will be greatly appreciated. While it is a step in the right direction, we still need to address the overarching problems that are restricting our economy. For the full discussion:
Ed Crooks is energy editor at the Financial Times. Brennan Lowery is a digital producer for The Dylan Ratigan Show.
Job creation starts with invention conception incentive and an integritious patent system neither one is available in world markets today. The patent system is designed to cheat the inventor in 40 different ways with no willingness of big money to pay anything for invention conception.
What is the remedy if jobs can not be created quick enough or if ever? Give people a check/ stipend/money? That expires if not spent in certain time, thus to prevent hoarding and to drive consumerism or investment in the markets?
I ask you > What is America's growth engine forward? t is either growth OUT or pull in the world safety nets of occupation and take to protectionism economy and nonintervention geo-political stance.
There is only a few options here frankly. It is like a chess game now that is coming down to the conclusion with only a handful or less moves that can be made t go to 'Mate'. The United States citizen is in 'Check' right now. If you know anything about chess. You know that is NOT GOOD! But the good news is it adds to the predictably/probability outcomes…..by removal of key pieces and lack of viable moves.
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http://wp.me/p1sLAC-2u
Did you know that Mexico is officially known as the United Mexican States? Hmmmmmm
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Or this route
"Mr. Kudlow, your very dear friend and someone I consider one of the most brilliant minds of our time, Milton Friedman would want you to endorse Ron Paul! And if nothing else, to execute some journalistic integrity. Ron Paul's protectionism for sustainability now and then GROWTH from the protectionist self centered economy and USA manufacturing and self-reliance infrastructure build-out and out that will accompany his presidency is only hope frankly. Doomed otherwise! Too many People and not nearly enough vital jobs to sustain let alone grow. And that will only get worse if we don't go the RON PAUL way.
Trust me….I know what I am talking about here…..lol
"The easiest way to get someone(s) to do exactly what is is you want them to do is to make them think they have no other choice or it was their IDEA to start with " ……….. RON PAUL 2012 is that!
Foreign workers from India and Mexico alone SHIP $120 BILLION out of the US every year in the form of remittances. Wonder why our banks are failing?
Also when American workers work, they pay taxes. But many of these foreign Indian bodyshops don't even have workers who pay taxes. They pay for the workers' lodgings and a per diem, which is fully tax exempt. Meanwhile the bodyshops bill US companies at $100/hr and ship it all offshore.
America's economy is being SIPHONED and foreign guest workers are the mechanism.
Companies ruined or almost ruined by imported Indian labor
Adaptec – Indian CEO Subramanian Sundaresh fired.
AIG (signed outsourcing deal in 2007 in Europe with Accenture Indian frauds, collapsed in 2009)
AirBus (Qantas plane plunged 650 feet injuring passengers when its computer system written by India disengaged the auto-pilot).
Apple – R&D CLOSED in India in 2006.
Australia's National Australia Bank (Outsourced jobs to India in 2007, nationwide ATM and account failure in late 2010).
Bell Labs (Arun Netravalli took over, closed, turned into a shopping mall)
Boeing Dreamliner ES software (written by HCL, banned by FAA)
Bristol-Myers-Squibb (Trade Secrets and documents stolen in U.S. by Indian national guest worker)
Caymas – Startup run by Indian CEO, French director of dev, Chinese tech lead. Closed after 5 years of sucking VC out of America.
Caterpillar misses earnings a mere 4 months after outsourcing to India, Inc.
Circuit City – Outsourced all IT to Indian-run IBM and went bankrupt shortly thereafter.
ComAir crew system run by 100% Indian IT workers caused the 12/25/05 U.S. airport shutdown when they used a short int instead of a long int
Computer Associates – Former CEO Sanjay Kumar, an Indian national, sentenced to 12 years in federal prison for accounting fraud.
Deloitte – 2010 – this Indian-packed consulting company is being sued under RICO fraud charges by Marin Country, California for a failed solution.
Dell – call center (closed in India)
Delta call centers (closed in India)
Fannie Mae – Hired large numbers of Indians, had to be bailed out. Indian logic bomb creator found guilty and sent to prison.
Goldman Sachs – Kunil Shah, VP & Managing Director – GS had to be bailed out by US taxpayers for $550 BILLION.
GM – Was booming in 2006, signed $300 million outsourcing deal with Wipro that same year, went bankrupt 3 years later
HP – Got out of the PC hardware business in 2011 and can't compete with Apple's tablets. HP was taken over by Indians and Chinese in 2001. So much for 'Asian' talent!
HSBC ATMs (software taken over by Indians, failed in 2006)
Intel Whitefield processor project (cancelled, Indian staff canned)
JetStar Airways computer failure brings down Christchurch airport on 9/17/11. JetStar is owned by Quantas – which is know to have outsourced to India, Inc.
Lehman (Spectramind software bought by Wipro, ruined, trashed by Indian programmers)
Medicare – Defrauded by Indian national doctor Arun Sharma & wife in the U.S.
Microsoft – Employs over 35,000 H-1Bs. Stock used to be $100. Today it's lucky to be over $25. Not to mention that Vista thing.
MIT Media Lab Asia (canceled)
MyNines – A startup founded and run by Indian national Apar Kothari went belly up after throwing millions of America's VC $ down the drain.
PeopleSoft (Taken over by Indians in 2000, collapsed).
PepsiCo – Slides from #1 to #3 during Indian CEO Indra Nooyi' watch.
Polycom – Former senior executive Sunil Bhalla charged with insider trading.
Qantas – See AirBus above
Quark (Alukah Kamar CEO, fired, lost 60% of its customers to Adobe because Indian-written QuarkExpress 6 was a failure)
Rolls Royce (Sent aircraft engine work to India in 2006, engines delayed for Boeing 787, and failed on at least 2 Quantas planes in 2010, cost Rolls $500m).
SAP – Same as Deloitte above in 2010.
Singapore airlines (IT functions taken over in 2009 by TCS, website trashed in August, 2011)
Skype (Madhu Yarlagadda fired)
State of Indiana $867 million FAILED IBM project, IBM being sued
State of Texas failed IBM project.
Sun Micro (Taken over by Indian and Chinese workers in 2001, collapsed, had to be sold off to Oracle).
UK's NHS outsourced numerous jobs including health records to India in mid-2000 resulting in $26 billion over budget.
Union Bank of California – Cancelled Finacle project run by India's InfoSys in 2011.
United – call center (closed in India)
Victorian Order of Nurses, Canada (Payroll system screwed up by SAP/IBM in mid-2011)
Virgin Atlantic (software written in India caused cloud IT failure)
World Bank (Indian fraudsters BANNED for 3 years because they stole data).
I could post the whole list here but I don't want to crash any servers.
“Foreign workers from India and Mexico alone SHIP $120 BILLION out of the US every year in the form of remittances. Wonder why our banks are failing?”
Ha ha ha ha …………..do you live on Mars?
“Foreign workers from India and Mexico alone SHIP $120 BILLION out of the US every year in the form of remittances. Wonder why our banks are failing?”
Ha ha ha ha …………..do you live on Mars?
Did you hear about sub prime loans? Can’t stop laughing !!
Dylan, have a look at this book:
http://www.scribd.com/doc/20966921/Guest-Workers-…