NY law schools inflate job figures: critics

     Although, it is the unwritten policy of this blogger never to give lawyers one iota of sympathy, in this case it would be cruel and unusual punishment to ignore their economic plight. I wish them well in this tight economy. --------lee 

By CHRISTINE PARKER

Last Updated: 10:00 AM, March 11, 2012

     Deciding on a law school is a numbers game: cost versus reward.
     The stick is $150,000+ for studies, but the carrot is a great-paying job. But maybe not, according to recent graduates from the city’s elite law schools, who relied on job placement after getting their sheepskins.
     Critics of local law schools say Columbia, NYU and Fordham overpromise the economic benefit of a degree, inflating the number of students who find employment after graduation — and how much those jobs pay.
     “My life will be fairly uncomfortable for the next several decades,” said a third-year Columbia Law School student who borrowed $170,000 to attend and ended up with a job in which he will earn between $50,000 and $60,000.

     Deciding on a law school is a numbers game: cost versus reward.

     The stick is $150,000+ for studies, but the carrot is a great-paying job. But maybe not, according to recent graduates from the city’s elite law schools, who relied on job placement after getting their sheepskins.

     Critics of local law schools say Columbia, NYU and Fordham overpromise the economic benefit of a degree, inflating the number of students who find employment after graduation — and how much those jobs pay.

     “My life will be fairly uncomfortable for the next several decades,” said a third-year Columbia Law School student who borrowed $170,000 to attend and ended up with a job in which he will earn between $50,000 and $60,000.

For more ...

http://www.nypost.com/p/news/business/cap_and_groans_Pt9SRPFvVJiikhlWFCzasJ 

GENERATING BALANCED DEMAND AND SUPPLY TO ACHIEVE FULL EMPLOYMENT AND PRICE STABILITY

from buoyantecoomies.com

by Leigh Harkness

1. Introduction

The attainment of full employment and price stability are not conflicting objectives, they are

complementary. If we are to raise employment, we must raise the demand for, and supply of,

products. Inflation reduces the real value of money, thereby reducing both demand and

supply in the economy.

This paper explains how an economy can raise real demand and supply to bring about full

employment while maintaining price stability. Full employment and price stability cannot be

forced onto countries. They must want it and implement the appropriate policies, in their

own time. The approach presented here can be implemented unilaterally by any country

when they want it. It does not need an international organisation to police it. If it wer

adopted globally, it could achieve full employment and price stability in the global economy.

2. The Problem

2.1 Unemployment

But before we can solve unemployment and inflation, we must explain what is causing these

problems. Figure 1 shows the number of unemployed persons in the USA since 1948. It

clearly reveals that since 1973, when the US floated its exchange rate, unemployment has

increased and stayed high.

Figure 1.

Unemployment USA

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The Starting Point

from channeling reality.com
by Vicky Davis
May 7, 2010

Yesterday as I was listening to the U.S. Senate debate the financial reform legislation pertaining to Consumer Protection, it seemed to me that the Senators were more like squabbling juveniles than statesmen.  But both sides did make good points for why the other side's proposal was bad.  And they were right.  Both proposals are bad.   

The Republicans wanted a Consumer Protection section added to the FDIC.  Obviously, the FDIC doesn't have authority over all financial institutions in which a Consumer might need regulatory protection so the Republican solution is inadequate.  

The Democrat's proposal put the Consumer Protection function under the control of the Federal Reserve with no reporting requirements and no oversight by Congress - and no funding from Congress.  The Federal Reserve had regulatory authority over mortgage lending but they chose not to exercise it.  The Federal Reserve is charged with the responsibility to ensure full employment and control of inflation.  Under Alan Greenspan's watch, they redefined inflation to mean rises in workers wages and he recommended to Congress that they flood our labor market with imported workers while the major corporations were exporting high dollar jobs to India.  Apparently, Greenspan expanded his mandate for full employment to mean the entire world - rather than just the United States.  It was Greenspan's philosophy of self-regulation for financial institutions, the redefinition of inflation and his recommendations to Congress that led to the meltdown of our economy and now the Democrats want to give them regulatory authority to "protect" us?  Really?
They also discussed the size of the banks and the consolidation in the banking industry after the repeal of Glass-Stegell.  In the 1990's, the banks apparently argued that they need the repeal so that they could compete with European banks.  One of the banks apparently is now a $2 trillion bank.  I believe one of the Senators said that the top 5 banks represent 63% of our GDP.  That is in incredible statistic. Part of the discussion was "Too big to fail" and "To big to live"  but I didn't hear "Too big to audit" which is really a significant consideration that they aren't even discussing.  And where is the benefit to the American people and our country in having banks that much control over the economy? According to a report by the Federal Reserve, there is no benefit in terms of economies of sale for banks over $100 billion. 
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Millennials forced to put lives on hold

When you ignore common sense patriotism for temporary profits, the lives of your children and your children's children are destroyed.  If you love your children, end offshoring, outsourcing and illegal immigration now!---rng

The Washington Times

Sunday

February 19, 2012

By Patrice Hill

Nicholas Rastenis has been through the wringer. After getting a master’s degree in fine arts from Yale University in 2008, he expected to land a job at a top design firm. But nearly four years later, after many months of joblessness, austerity and anxiety, his ambitions in life have come down quite a bit.

Today, the Chicago resident toils at a photo lab at a major drugstore chain for $9 an hour and no benefits, using few of his creative design skills and earning only a fraction of what he once thought he could command. Still, he has had some designing gigs on the side, and he is glad to at least have a full-time job — any job — after years of doing without.

Mr. Rastenis, like many others of his generation, is a prime victim of the Great Recession. By most measures, he and his compatriots in their teens, 20s and early 30s bore the brunt of the worst job market in modern times. Even with slow economic improvement in the past two years, these so-called “Millennials” remain unemployed and underemployed at the highest rates of any group.

“It’s been a very hard road,” said Mr. Rastenis, who has taken jobs such as bike-cabbing and waiting tables to make ends meet while trying to land a full-time position in his profession.

“I’m doing things I never thought I’d be doing. I’m starting to question why I went to college. I could have done these jobs out of high school,” he said. “And not having an apartment or anything else … I’m miserable.”

Mr. Rastenis knows he’s not alone. It seems nearly everyone he knows in his age group is facing similar problems. “Nobody in the age range 20 to 35 are where they want to be right now,” he said.

to read complete article

Gallup Finds Unemployment Climbing to Nine Percent in February

By Matt Cover

February 20, 2012

     (CNSNews.com) – Unemployment in the U.S. rose to nine percent in mid-February, up from 8.3 percent a month earlier, according to a new Gallup survey. The polling company said this suggests that it is “premature” to assume the economy will not feature prominently in the 2012 election season.
Gallup figures typically provide an indication of what the government will report at the end of the month.
     “The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February,” Gallup said in its mid-month unemployment survey, released on February 17. “The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January.”


For more ....

Obama Economic Plan To Discourage Outsourcing, Reward 'Insourcing'

Just in time for the election.  Remember how he was going to renegotiate NAFTA?  All he has to do is restore tariffs and the problem is solved.  Or is it just a cynical ploy to ensnare the working and middle classes?  Meanwhile, the brain dead Republicans still can't figure out that you can't cut benefits and balance the budget when people don't have jobs and can't pay taxes.  It is depressing.---rng

from the Huffington Post.

WASHINGTON -- On the heels of President Barack Obama's State of the Union address, senior economic advisers to the president on Wednesday shared more details on Obama's blueprint for the economy, including a plan to strip incentives for companies to move jobs overseas and instead encourage the return of manufacturing jobs to U.S. soil.

Arguing that the country should build on the relative strength of its manufacturing sector, National Economic Council (NEC) Director Gene Sperling told reporters that Congress needs to remove the tax deductions that corporations can claim on moving expenses when they ship jobs overseas. In addition, he said the president is proposing a 20 percent income tax credit for companies that choose to bring jobs back to the U.S. Taken together, the two measures would be revenue-neutral, Sperling added.

"Moving jobs is not something we should be subsidizing," Sperling said. "The companies have a 

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America was once the nation the rest of the world looked up to

from Dregs of the Future

"I am a most unhappy man. I have unwittingly ruined my country."  Woodrow Wilson

At a Glance

The degeneration of the US political structure into criminal insanity is something historians will ponder for a very long time.

What happened?

The 1% have rigged the system to capture a larger and larger share of the world’s wealth and power, while the middle class and poor face unemployment, soaring student debt burdens, homelessness, exclusion from the medical system, and the disappearance of retirement savings. (Source)

People´s basic democratic rights have been set aside in order to safeguard the investments of the conglomerates of banks. (Source)

George Orwell in his book 1984, that eerily reminds us of today, wrote:

If you want a picture of the future, imagine a boot stamping on a human face—forever.

So what? 

If we are to have a future that involves individual liberty, understanding the nature of the boot on our face is the most important thing to know. (Source)

.

The Nature of the Boot on Our Face . . .

The US money supply has more impact on citizens day to day lives than the Executive, Legislative and Judicial branches–yet is under the control of an unaudited, privately held bank, the Fed.

Leaving the money supply in private hands is dangerous and unacceptable — it negates the balancing of powers principle of our constitution and creates an aristocracy – a plutocracy — the rule by wealth.

.

A great industrial nation is controlled by its system of credit. –President Woodrow Wilson – In The New Freedom (1913)

Give me control of a nation’s money and I care not who makes it’s laws. – International Banker, Mayer Amschel Bauer Rothschild

Do you know what’s actually a threat to our democracy? The fact thatno matter who we vote for, we end up with the same stupid shit. (Source)

See also: Famous quotes about international bankers, and History of the “Money Changers”

.

US Presidents discuss the Boot on Our Face:

History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance. — President James Madison

I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men. — President Woodrow Wilson, 1919.

to read complete article 

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

A more accurate and honest review of the labor department's job numbers.
  
  ------lee

from zerohedge.com

Submitted by Tyler Durden on 02/03/2012 08:51 -0500

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.
Chart below shows it all - that jump is not a fat finger!

For more ...

Made in USA: Overseas jobs come home

The sad thing is, this is not linked to a full employment policy.  The unemployment rate will still be kept at a level (6 per cent or better) that will ensure low wages, and a permanent state of insecurity for the mass of the American population.  The American population will still be expected to serve in any and all foreign adventures and pay any taxes that are necessary to preserve the corporate oligarchies.

 A dated article, but interesting.

            ------lee

By Chris Isidore @CNNMoney June 17, 2011: 1:09 PM ET
    
     NEW YORK (CNNMoney) -- It's still only a trickle compared to the flood of jobs that America lost to overseas outsourcing in recent decades. But some American businesses are bringing jobs home again.

     In Louisville, a closed General Electric (GE, Fortune 500) appliance plant is being renovated to begin producing water heaters. An existing plant in the same complex will start making refrigerators. Both products are now being built overseas. Hiring of about 1,300 union-represented workers is due to begin this fall.

     A technical support call center for computer back-up firm Carbonite will start taking calls this summer in Lewiston, Maine. By the end of this year, 150 jobs that had been located in India will be shifted to there, with another 100 jobs expected to be added next year.

     NCR (NCR, Fortune 500) has already hired about 500 workers to build ATMs and self-service checkout systems at a Columbus, Ga., plant, and it plans to add another 370 jobs by 2014, building products that were formerly produced at plants in China, Hungary and Brazil.
trend of reshoring or insourcing is likely to grow in the coming years, as the cost gap between building overseas and building at home narrows. It's an encouraging sign in a job market where hiring has stalled in recent months.
     "Based on the number of calls I'm getting, I think a lot of people are taking a long hard look at what's gone on in recent times," said Peter Dorsman, the senior vice president of Global Operations at NCR.

For more...

The Shockingly High Cost Of Free Trade: 10 Reasons Why Globalism Is Bad For Middle Class Americans

I don't believe in free trade, and neither should you.---rng

from endoftheamericandream.com

Today, there are very few national figures that are dissenting from the politically-correct viewpoint that free trade is a good thing.  The vast majority of Republican politicians believe in free trade.  The vast majority of Democrats believe in free trade.  Barack Obama believes in free trade.  Nancy Pelosi believes in free trade.  Rush Limbaugh believes in free trade.  Glenn Beck believes in free trade.  In fact, just about anyone who goes on mainstream media and starts speaking out against free trade is immediately branded an idiot who does not understand the first thing about economics.  So considering the fact that leaders on both sides of the "political spectrum" fully embrace free trade, shouldn't we just go with the consensus and consider the debate about trade to be over?  Well, there is just one problem.  All of this globalism and free trade is killing the American Dream and is destroying the American middle class. 

But isn't being able to purchase products at the store for a much lower price a good thing?  If China can make clothing much cheaper than we can, then why shouldn't our clothes be made in their factories?

Well, it turns out that free trade and low prices come with a shockingly high cost.

The following are 10 reasons why globalism and free trade are really bad for middle class Americans....

1- Millions upon millions of good paying middle class jobs have been outsourced and offshored and they are never coming back.  The transition to a global economy has put middle class American workers in direct competition with the cheapest labor in the world.  The gigantic global predator corporations that now dominate the world economy have made their choice and they are moving factories and offices out of the United States at a staggering rate.  30 million Americans are now unemployed or underemployed.  Today there are approximately 6 unemployed Americans for every single job opening.  But why should giant global corporations hire middle class Americans?  In many areas of the third world, the taxes are much lower, regulations are virtually non-existent and highly-motivated workers will gladly work for less than a tenth of what a middle class American worker would make.   

2 - The millions of American workers that have lost their jobs end up being supported by the government.  The truth is that we pay for American workers one way or another.  Either we buy the products and services they create or we support welfare payments to them.  In the United States today, the average time needed to find a job has risen to an all-time record of 35.2 weeks.  The number of Americans receiving long-term unemployment benefits is at record levels.  The number of Americans who are receiving food stamps rose to a new all-time record of 40.8 million in May.  In fact, the number of Americans on food stamps has set a new all-time record for 18 months in a row.  One way or another, we are going to end up financially supporting American workers.  Would you rather buy their products and services or would you rather have your taxes raised to pay for their welfare benefits?

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The Occupy Wall Street Movement and the Coming Demise of Crony Capitalism

From my favorite economist, but I think he misjudges intent of OWS creators.  Soros is predicting riots and suppression of civil liberties.  That I fear is part of the elite's plan, and dovetails nicely with the effort to institute indefinite detention of U.S. citizens without trial via the NDAA.  I think Batra's economic solutions are sound, but Obama is a puppet, and it is a mistake to look to him for change.  For the time being, education of the public is incomplete, and must be expanded so that the change, when it comes will be genuine and not managed...rng


from truthout
Tuesday 11 October 2011

by: Ravi Batra, Truthout | News Analysis

In 1978, to the laughter of many and the derision of a few, I wrote a book called, "The Downfall of Capitalism and Communism," which predicted that Soviet communism would vanish around the end of the century, whereas crony or monopoly capitalism would create the worst-ever concentration of wealth in its history, so much so that a social revolution would start its demise around 2010. My forecasts derived from the law of social cycles, which was pioneered by my late teacher and mentor, P. R. Sarkar. Lo and behold, Soviet communism disappeared right before your eyes during the 1990s, and now, just a year after 2010, middle-class America, spearheaded by a movement increasingly known as "Occupy Wall Street (OWS)," is beginning to revolt against Wall Street greed and crony capitalism. Will the revolt succeed? It surely will, because the pre-conditions for its success are all there.

The first question is this: Why does rising wealth disparity create poverty? My answer is that it causes overproduction and hence unemployment and destitution. It is all a matter of supply and demand. Inequality goes up when official economic policy does not allow wages to catch up with the ever-growing labor productivity, so that profits soar and rising productivity increasingly raises the incomes and bonuses of business executives. I have detailed this process in an earlier article. Then money sits idly in the vaults of bankers and big-business CEOs and restrains consumer demand, leading to overproduction and hence layoffs. The toxic combination of mounting layoffs and absent job creation raises poverty, which, according to official figures, is now the highest in 50 years.

The next question is: how has the government either restrained wages relative to productivity or made the rich richer and the poor poorer? It is easy to see that almost all official economic measures adopted since 1981 and contained in the following list have devastated the middle class. The list includes:

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Nine Percent Is Now Full Employment in America

A truly infuriating article spewing the corporate line.  Nothing we can do about unemployment, so just get used to your life of depression and desperation.  Yes, we can do something about unemployment.  Tariffs made this nation great before and they can do it again, and the economic elite be damned.---rng

Summary

Without excessive government or consumer spending - which can only create temporary jobs - we believe 9% is now close to full employment in America. Although this statement is initially somewhat shocking, we've been expecting it and only recently realised why it took so long to finally show up.

For ten years - from 1998 to 2008 - excess consumer spending, which amounted to about $400 billion a year, created millions of temporary but really nonessential jobs. This somewhat artifical job production masked for ten years the damage being done to America from the loss of 20 million jobs to overseas labor. There are only so many products and services people really need and too many of them were now made overseas. When consumer spending and savings came back to normal levels, the nonessential temporary jobs disappeared exposing the employment damage.

If we are right, it represents a major wakeup call and the consequences to both business and real estate forecasting are profound. So are the political ramifications.

The problem is Globalization. Globalization, while good for multinational companies, is known to be very damaging to employment levels in developed countries like America and Great Britain as millions of productive jobs move to developing countries like India and China.

The Process of Globalization Brings Country "Normalization"

The process of globalization helps bring about “normalization” in the world – a leveling of standards of living from country to country. For this to happen standards of living in developed countries must suffer a little while the developing countries move up rapidly. From a world view that’s good – from an individual country view it may not be.

But it doesn’t start out this way. At first globalization seems a blessing. Many essential items cost less so more money is available to spend on services and the niceties of life – life gets better, one feels “richer.“ But as the outflow of jobs to foreign countries continues this view changes. After a while it becomes hard to replace all the lost jobs with meaningful ones. Unemployment rises.

A Warning from Buffett

Many people estimate that we’ve lost about 20 million jobs to foreign countries over the last twenty years. If we no longer make something we have to import it, and the 700 billion dollar trade deficit simply reflects this. In January of 2006 Warren Buffett said, “The U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt and could lead to ‘political turmoil.’ Pretty soon, I think there will be a big adjustment.” At the time few cared or even noticed since unemployment remained low.

Global Forces Now Dominate

This view about American employment highlights something we firmly believe – that global conditions and factors now control the American economy more than what is happening internally. It also puts in doubt the tried and true, standard solutions the government uses. Stimulation packages no longer work because there is now little to stimulate. They are using old internal solutions to fix an economy now controlled by external conditions. Until the government faces this and begins to solve the real issue – the long term detrimental effects of globalization on the American economy – nothing significant can occur.

We think this paradigm is very close to the correct view and it carries many important forecasting consequences. Forecasting is always difficult. It must be done as honestly as possible with no bias or consideration for political correctness or whether the forecast will be accepted or believed. Many economists err here, using old, safe economic models, or they simply follow a consensus. In their eyes – and they’re probably right - it's better job security; if the forecast proves wrong they can’t be criticized. But then money is lost as the forecast fails.

A Bull Market With High Unemployment

Investors must stop fixating on American employment, thinking we can’t have a recovery and bull market without it.

First, if 9% is full employment, we are pretty much at full recovery right now. Don’t expect a lot more - but don't expect a second dip either. Second, over half of the S&P 500 earnings now come from overseas operations and because of foreign growth, you could have long term earnings growth and an American bull market even if unemployment stayed right here at 9%.

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Wonkbook: The real unemployment rate is 11 percent

Posted by Ezra Kleinat 07:51 AM ET, 12/12/2011  

Typically, I try to tie the beginning of Wonkbook to the news. But today, the most important sentence isn't a report on something that just happened, but a fresh look at something that's been happening for the  last three years. In particular, it's this sentence by the Financial Times' Ed Luce, who writes, "According to government statistics, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent."

Remember that the unemployment rate is not "how many people don't have jobs?", but "how many people don't have jobs and are actively looking for them?" Let's say you've been looking fruitlessly for five months and realize you've exhausted every job listing in your area. Discouraged, you stop looking, at least for the moment. According to the government, you're no longer unemployed. Congratulations?
Since 2007, the percent of the population that either has a job or is actively looking for one has fallen from 62.7 percent to 58.5 percent. That's millions of workers leaving the workforce, and it's not because  they've become sick or old or infirm. It's because they can't find a job, and so they've stopped trying. That's where Luce's calculation comes from. If 62.7 percent of the country was still counted as in the workforce, unemployment would be 11 percent. In that sense, the real unemployment rate -- the apples-to-apples unemployment rate -- is probably 11 percent. And the real un- and underemployed rate -- the so-called "U6" -- is near 20 percent.

For more ...

The high price of ‘free’ trade

NAFTA’s failure has cost the United States jobs across the nation
By Robert E. Scott | November 17, 2003
from Economic Policy Institute

Since the North American Free Trade Agreement (NAFTA) was signed in 1993, the rise in the U.S. trade deficit with Canada and Mexico through 2002 has caused the displacement of production that supported 879,280 U.S. jobs. Most of those lost jobs were high-wage positions in manufacturing industries. The loss of these jobs is just the most visible tip of NAFTA’s impact on the U.S. economy. In fact, NAFTA has also contributed to rising income inequality, suppressed real wages for production workers, weakened workers’ collective bargaining powers and ability to organize unions, and reduced fringe benefits.

NAFTA is a free trade and investment agreement that provided investors with a unique set of guarantees designed to stimulate foreign direct investment and the movement of factories within the hemisphere, especially from the United States to Canada and Mexico. Furthermore, no protections were contained in the core of the agreement to maintain labor or environmental standards. As a result, NAFTA tilted the economic playing field in favor of investors, and against workers and the environment, resulting in a hemispheric “race to the bottom” in wages and environmental quality.

False promises

Proponents of new trade agreements that build on NAFTA, such as the proposed Free Trade Agreement of the Americas (FTAA), have frequently claimed that such deals create jobs and raise incomes in the United States. When the Senate recently approved President Bush’s request for fast-track trade negotiating authority1 for an FTAA, Bush called the bill’s passage a “historic moment” that would lead to the creation of more jobs and more sales of U.S. products abroad. Two weeks later at his economic forum in Texas, the president argued, “(i)t is essential that we move aggressively [to negotiate new trade pacts], because trade means jobs. More trade means higher incomes for American workers.”

for complete article

Free Trade Is Literally Killing Japanese Men

January 7, 2012 · 6:26 pm
Culture of Life News

The jobs issue is a huge, huge issue this coming decade.  Already we see the approaching storm as millions and millions of people are pitched into the darkness as international trade destroys the working class of the first world and many second tier nations.  In the previous posting here, I talked about the housing bubble and resultant job dearth when these popped in Spain and Ireland.  Today, I return to the dark matter of comparing US workers to Japanese workers and we can see what is lying in our futures if we imagine we can export our way to middle class prosperity for the lower working class here.

Naturally, after accepting his pay from his Wall Street masters, Obama begs these businesses: Bring jobs home.  Why on earth should they?  They make more profits using foreign labor.  There are now virtually no protections of native jobs so we are all at the mercy of the value of the dollar when it comes to trade and all trade rivals toil very hard to insure the dollar is strong, not weak.

This way, we can never, ever export our way out of this trap.  But instead of reacting to a 40+ year trade deficit by aggressively protecting the US, the opposite has happened.  Therefore, For many Americans, jobs crisis to last many years.

The poor working class here which mainly continues to exist due to the war on drugs which makes illegal drug trafficking very profitable for at-home workers willing to risk death or jail.  Our leaders rigged the games so that the war on drugs will go on forever, knowing perfectly well, this keeps the poor in their place for they can be arrested at any time for the most trivial amounts of illegal hooch.

Meanwhile, let’s go to Japan for news about that terrible, dying economy.  Once, one of the top exporters on earth, Japan has been left in the dust by the rise of the giant Chinese operations.  To compete with China, Japan worsened working conditions of their own factory labor.  Today, Poor employment conditions push Japan’s young to the edge – The Mainichi Daily News

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