My contention is that it is more sinister. The intent is to break the back of the American worker, the unions, and the middle class. I believe the goal is to hold the American job market hostage until any wage offered must be accepted. I believe many corporations are working on worldwide wage normalization.
Now think about it. We are currently outsourcing millions of jobs to build products that are reimported back into America. We are doing this even as we have a labor market clamoring for jobs. These reimported products are built overseas by low wage laborers in China, Vietnam, and many other countries whose workers work for pennies on the dollar when compared to an American worker.
At the same time government is laying off public sector workers (teachers, police, firefighters, nurses, clerks) that are needed more than ever. Public sector unions are under attack to bring down the wages and benefits of these employees by using scare tactics, misinformation, and lies. This is exactly the opposite of what should be done because it removes spending from the economy. This in turn causes your local sandwich shop, restaurants, etc. to lay off workers or go out of business. The downward spiral to depression then continues.
Our infrastructure (roads, bridges, airports, electrical grid, water mains, etc.) are in shambles. If you doubt it take a trip to any major city in the US then visit Shanghai. Our elementary and secondary schools are in poor shape both physically and intellectually. With the world in a precarious financial state, people all over the world are willing to purchase US treasuries at near zero rates.
America could lift itself and with that the world out of this financial funk by starting a massive infrastructure project with borrowed monies at under one percent. The economic activity created would immediately increase buying power and with that the economy.
The increased economic activity and its multiplier effect will fill IRS coffers with increased tax revenues which will ultimately lower the deficit. Additionally ensuring that capital gains are taxed and treated exactly like the working person’s income will reduce stock market volatility as investors stop treating investments as slot machines and raise tax revenues fairly.
Because this will be a government “we the people” driven activity, the titans of finance could no longer hold the middle class hostage. The real private sector made up of our small businesses and patriotic corporations would be the beneficiaries of this multi-decade endeavor.
The private sector controlled by the titans of finance has proven their intent is to break the American Middle Class. It is time for “we the people” to take our country back by reinvesting at home. Elect those who will follow this path.