Saturday, March 23, 2019

TRUMP SAYS DON'T BOTHER WITH COLLEGE EDUCATION! WASTE OF MONEY WHEN THERE'S BOATLOADS OF FOREIGNER WHO GOT FREE EDUCATION ON THEIR WAY TO AMERICAN JOBS!

One cautionary example is President Trump’s son-in-law Jared Kushner, whose ticket into Harvard, according to the 2006 book The Price of Admission: How America’s Ruling Class Buys Its Way into Elite Colleges, was his father’s $2.5 million dollar gift to the university. Jared got his 

Harvard degree, but he has been the butt of social-

media taunts precisely because his daddy had to 

pay a fortune to get the school to admit him. The 

cost of a brag-worthy degree? Millions. The cost 

of the right- and left-brain stuff? Priceless.


CITY JOURNAL

WHAT THE COLLEGE-ADMISSIONS 

SCANDAL TELL US ABOUT AMERICA’S 

BROKEN MERITOCRACY



If, like me, you’re an avid observer of human affairs at their most vain and status-crazed, you have been studying the College Cheating Scandal, or what investigators called Operation Varsity Blues, with all the intensity of a rabbinical scholar poring over Leviticus. Each reading yields delicious new details of greed, ambition, hypocrisy, and decadence. “Ah! Vanitas, Vanitatum!” as the author of the classic nineteenth-century novel Vanity Fair sighed. But eventually the mordant fun gives way to the recognition that what we have here is evidence of a serious sickness in the American meritocracy.

The story is well known by now, but before it disappears into the overflowing landfill of tawdry contemporary Americana, some of its more obscure gems deserve a farewell salute. Let’s begin with the master of ceremonies, William “Rick” Singer, owner of a Newport Beach, California college-consulting company. Singer bribed college coaches and staged mockups of his clients’ slacker children at athletic events, sometimes photoshopping their faces onto a picture of actual soccer players or rowers, or, weirdly, pole-vaulters. A 36-year-old Harvard grad, Mark Riddell, could take a standardized test and get an agreed-upon, specific score with the precision of an expert archer. Singer hired him to take or to correct tests for clients whose preliminary scores would put them on the reject pile: Riddell is now Cooperating Witness #2. My favorite bit of chicanery was Singer’s money-laundering operation. To hide the eye-catching sums that he was earning for his ploys—and to give his clients the extra perk of a (legal) tax deduction for their (illegal) contributions—Singer set up the Key Worldwide Foundation, which he advertised as “provid[ing] guidance, encouragement and opportunity to disadvantaged students around the world.” The IRS estimates that Singer earned $25 million for his good works.
The charitable donors are a treasure trove of you-can’t-make-this-stuff-up farce. Jane Buckingham, Beverly Hills mother and businesswoman, paid Singer $50,000 to have Ridell take her son’s ACT for him so that he could score high enough to get into the University of Southern California; Ridell got the boy a 35 out of 36. Earlier in her career, Buckingham had parlayed her expertise as a “youth marketing specialist” into a TV show, Job or No Job, offering millennials career advice. Evidently she forgot what she told an interviewer at the Observerwhen she described some of the young people who came on her show as “so entitled that you want to slap them.” Another donor was Willkie Farr & Gallagher co-chair Gordon Caplan, named as The American Lawyer’s 2018 Dealmaker of the Year. Also in the lineup are actress Felicity Huffman and her husband William Macy, most recently star of a television series called—will the dark irony never stop?—Shameless. For reasons not entirely clear, Macy has not yet been indicted.
First prize for sheer gall goes to actress Lori Loughlin and her fashion-designer husband Massimo Giannulli. The two paid Singer a half-million to package their daughters as accomplished rowers in order to buy their place in the University of Southern California freshman class, though evidently neither girl knew the difference between a coxswain and an entry on Pornhub. Nor, at least in Olivia’s case, were they thinking much about their course load. As it happens, Olivia spent the first week of school in Fiji. She wasn’t there to visit the renowned libraries of the South Pacific, but for a photo shoot in her role as a “social media influencer.” Using the stage name Olivia Jade, she video-splained to her 1.9 million followers that, while she would be doing a lot of traveling for her career, “I do want the experience of, like, game days, partying. I don’t really care about school, as you guys all know.”
A few final, irresistible details about the dewy Loughlin: the actress made her name on the hit sitcom Full House. She played Aunt Becky to the golden-girl Olsen twins. Aunt Becky was supposed to be the show’s moral compass; in one episode, she marched into the office of a preschool admissions director to tell on her husband for lying on his niece’s application. Back in the real world, Loughlin went on to groom her own daughter for a future on the red carpet—witness the Internet photos of the luminous mother and daughter posing at celebrity events and gabbing on The Today Show. It seems unlikely that Olivia Jade could have collected her Sephora, Amazon, and Dolce Gabbana deals on her own; her doting mother was the influencer there. In short, the Hallmark-wholesome Aunt Becky turns out to be a modern-day Becky Sharp.
This kind of arrogance, greed, and ambition has been the stuff of literary satire and philosophical reflection throughout the ages. What sets Operation Varsity Blues apart and caused the public outrage, of course, is its American context. The parents were not seeking riches, fame, or even elite status in any conventional sense: they already had that. Between the two of them, Felicity Huffman and Bill Macy are estimated to be worth $45 million; their daughters would never be lacking in American Express black cards or invitations to friends’ Aspen chalets. Olivia Jade was already on her way to online stardom, at least within her peer group.
No, they were not looking for financial rewards or klieg lights. What they wanted was for their kids to fit in as members of the cognitive elite. Anand Giridharadas, NBC political analyst and fire-and-brimstone scourge of America’s richest, tweeted about the scandal that America’s ruling class “confuses its privilege for merit.” That’s exactly backward. The Operation Varsity parents opened their wallets precisely because they knew their children did not have the right stuff. They wanted elite status for their children, and in a meritocracy, even one as tattered as our own, high SATs and extracurriculars leading to a hoity-toity college degree are the ticket. The parents of Operation Varsity will probably get over the humiliation of a mugshot, but their kids will never live down being outed as meritocratic losers.
Which takes us to the only good news in this whole sordid affair: buying your way into cognitive-elite respectability is trickier than anyone thought. Even if you avoid jail, you are surrounded by people who are expert at sniffing out meritocratic poseurs, namely those with modest IQs. One cautionary example is President Trump’s son-in-law Jared Kushner, whose ticket into Harvard, according to the 2006 book The Price of Admission: How America’s Ruling Class Buys Its Way into Elite Colleges, was his father’s $2.5 million dollar gift to the university. Jared got his Harvard degree, but he has been the butt of social-media taunts precisely because his daddy had to pay a fortune to get the school to admit him. The cost of a brag-worthy degree? Millions. The cost of the right- and left-brain stuff? Priceless.
The current system of college admission doesn’t have many defenders at this point. Everyone knows that it corrupts us all: the high school teachers who feel obliged to inflate the talents of their ordinary students, the therapists selling their professional credentials to parents who want special-disability diagnoses for their healthy kids so that they have extra time to take their exams, the middle-class parents who have neither the funds nor the stomach to violate the law but help create the panic that is driving their kids (and their educators) out of their minds. Worst of all, it demoralizes less-advantaged kids and their parents, who are already tempted toward resentment-filled hopelessness.
For all higher education’s sins, though, there’s no easy way to fix its role in the broken meritocracy. Limit legacies and sports admits? Sure. Look skeptically at résumés filled with service trips to Guatemalan villages and computer camps? Yes, please. But an increasingly high-tech economy will have to reward those who can decipher complicated deals, program robots, and pursue similarly complex cognitive tasks. The challenge is to reduce the prestige and honor attached to those talents and rewards—and to the schools that develop them. Ironically, Operation Varsity Blues may be a step in that direction.



NOW WHY SHOULD AMERICANS (LEGALS) PAY FOR AN EDUCATION WHEN THE SWAMP KEEPER TRUMP IS BRINGING OVER BOATLOADS OF “CHEAP” LABOR WHO ALL RECEIVED FREE EDUCATIONS?!?!

Ivanka Trump Wants America to Kick Addiction to Four-Year College, Massive Student Debt

 

https://www.breitbart.com/economy/2019/03/21/ivanka-trump-wants-america-kick-addiction-four-year-college/




SAUL LOEB/AFP/Getty Images




JOHN CARNEY
 

Any sober assessment of the facts would indicate that too many Americans are going to college. As a result, college costs—and debt—have skyrocketed while the rewards for college have plunged.
Yet this is something that has escaped the attention of our political elites. And, as it turns out, our financial and cultural elites—as the recent college admissions scandal indicates. Many Democrats want to double-down, promising “free college” to young people—a euphemism for college funded by taxpayers.
Perhaps surprisingly, Ivy-league educated Ivanka Trump has recently come out as a skeptic about America’s love affair with college. The first daughter has taken up a leadership role in the Trump administration’s workforce development efforts—and shown a remarkable candidness when it comes to our college problem.
“I think culturally, for a long time we have created and perpetuated the narrative that there is one pathway to achieving the American dream and its four-year university,” Ms. Trump said in a recent interview.
Trump goes on:
That has been instilled into American students, it’s often American parents that feel that is the only viable path. So you have kids going into school racking up enormous amounts of student debt that they’ll often take decades if there ever able to pay it off without a skill, if they ultimately graduate. So I think opening up the prism and saying there are many different pathways. It depends what you want in your life and taking the stigma away from those who choose alternative pathways who choose technical schools, vocational education. At the end of the day, it’s about connecting workers with their passion, with their jobs. There’s very little opportunity for somebody who wants to the vocational route, the technical route because all the money pushes you into a four-year college system.
Just as her father drew attention to the incredibly bad hand American industrial workers had been dealt by decades of anti-American trade deals, Ms. Trump is drawing attention to the bad hand the U.S. has dealt our young people.
The facts are stark. Over the past 40 years, the U.S. has doubled the share of high school graduates who go on to get college degrees. Forty-six percent of high school graduates receive degrees from four-year colleges, and another 24 percent get degrees from two-year colleges.
This increase in college education, however, has come at a steep cost. The relative benefits of a college degree have been declining for nearly two decades, while costs have been escalating.  College graduates still earn more than high school graduates and are less likely to be unemployed—but the gap has been contracting.
And the income and employment benefits may overstate the lifetime effects of college degrees. The college wealth premium—the amount of extra wealth college graduates have accumulate the course of their lifetime—has declined even more rapidly than the income and employment premium, according to a recent study by the Federal Reserve. And among blacks, Hispanics, Asians—that is, everyone except whites—there is no wealth premium at all, the study found.
After ten years, nearly one-third of college graduates wind up in a job that does not require a college degree, the Wall Street Journal reports.
That should not be surprising. It demonstrates that the supply of college graduates has outpaced demand, which is exactly what you would expect would happen when ample subsidies and societal pressure are applied to increase college attendance. When, as Ms. Trump put it, “all the money pushes you into a four-year college system.”
The average sticker-price of a four-year college, including room and board, is now $50,000 per year. As Barron’s Jack Hough recently pointed out, $200,000 in cash invested in the name of a 22 year old would produce a $3 million retirement nest egg by the age of 68, if the money is invested at about a 6% year return.
This high price is being financed by debt. On average, a college graduate owes twice as much debt as she did twenty years ago, according to the Wall Street Journal.  Educational loans now amount to more than $1.5 trillion. More than one out of ten student loan borrowers will default on their loans.
Federal Reserve economists recently studied the impact all that debt is having on those aged 24 to 32. They found that while it plays a significant role in keeping young people from buying homes, although other factors—including the high price of homes—were more important.
“In surveys, young adults commonly report that their student loan debts are preventing them from buying a home,” Fed researchers Alvaro Mezza, Daniel Ringo, and Kamila Sommer found. “Our estimates suggest that increases in student loan debt are an important factor in explaining their lowered homeownership rates, but not the central cause of the decline.”
This is having a profound effect on American society. People are getting married later, which reduces the number of children they have. Women, in particular, delay marriage when they bear lots of student debt. And a significant number of people who say they do not want children cited student debt as the reason.
Twenty-two percent of college graduates were delayed by at least two years in moving out of a family member’s home due to their student loans, a survey of millennials by the National Association of Realtors found. More than half of respondents said they were delayed in continuing their education or starting a family due to student loan debt.
Bernie Sanders and others who have endorsed the idea of relieving students of the burden of paying for college address the debt side of the problem only. And it’s not clear that this is really much progress at all since professors will still have to be paid, buildings maintained, textbooks purchased. So while a student might not have to foot the bill, that debt will need to be borne by workers—which is really just a transformation of individual debt into higher taxes. And if history is any experience, the government will not effectively be able to contain the burgeoning costs. If anything, quite the opposite: cost increases will accelerate once individuals no longer see the bills.
There’s no such thing as a free lunch, even if in a college cafeteria.
The first step to recovery is admitting you have a problem. We have a problem, as Ms. Trump has indicated. Others in Washington, DC, should take note.

you can't separate the Obomb from his Saudis paymasters!


Barack Obama’s back door, however, was unique to him. Before prosecutors send some of the dimmer Hollywood stars to the slammer for their dimness, they might want to ask just how much influence a Saudi billionaire peddled to get Obama into Harvard.

 


BARACK OBAMA and his SAUDIS PAYMASTERS: Did they build his Muslim tower in Chicago?

Malia, Michelle, Barack and the College Admissions Scandal



What shocked even the old timers in my hometown was that Mayor Hugh Addonizio, the man who gave me my Eagle Scout Award, would accept kickbacks in cash right across his desk. They were troubled less by his criminality -- that was expected in Newark -- than by his lack of subtlety. Addonizio paid for his indiscretion with a lengthy prison sentence.
So it is with the current college admissions scandal. People have been scamming their ways into prestige universities for decades, maybe centuries, but in the past they have had the good sense not to put the cash on the table. It seems that in this scandal a few of the bribers and their brokers may well pay for their indiscretion with prison sentences as well.
The media pretend to be shocked. In an editorial on the scandal, the New YorkTimes singled out Harvard University for its “special admissions preferences and back doors for certain applicants.” This is the same New York Times, however, that published an entirely uncritical article three years prior headlined, “Malia Obama Rebels, Sort of, by Choosing Harvard.” 

Malia is the fourth member of the Obama family to attend that august university, none of whom, save perhaps for Grandpa Obama, deserved to be there.

Let’s start with Obama Sr., the only member of the extended family to attend college before the affirmative action/diversity era. Obama arrived at Harvard in the early 1960s with the goal of getting a Ph.D. in economics. According to biographer Sally Jacobs, Obama “struggled” with his studies but managed to get a Masters degree.
Alas, the university booted him on moral grounds before he could get his doctorate. An inveterate playboy despite his two ongoing marriages, Obama had an affair with a high-school girl. Denied his Ph.D., says Jacobs, “He goes on to claim the title, nonetheless. He's Dr. Obama. The older he gets, the more he claims it.” As will be seen, intellectual fraud runs in the family.

Michelle was the next to attend Harvard, in her case Harvard Law School. Told by counselors that her SAT scores and her grades weren’t good enough for an Ivy League school,” writes Christopher Andersen in Barack and Michelle, “Michelle applied to Princeton and Harvard anyway.”

Sympathetic biographer Liza Mundy writes, “Michelle frequently deplores the modern reliance on test scores, describing herself as a person who did not test well.” She did not write well either. Mundy charitably describes her senior thesis, "Princeton-Educated Blacks and the Black Community," as “dense and turgid.”

The less charitable Christopher Hitchens observed,  “To describe [the thesis] as hard to read would be a mistake; the thesis cannot be ‘read’ at all, in the strict sense of the verb. This is because it wasn't written in any known language.” Hitchens exaggerated only a little.  The following summary statement by Michelle captures her unfamiliarity with many of the rules of grammar and most of logic:
The study inquires about the respondents' motivations to benefit him/herself, and the following social groups: the family, the Black community, the White community, God and church, The U.S. society, the non-White races of the world, and the human species as a whole.

Michelle even typed badly.  Still, she was admitted to and graduated from Princeton and Harvard Law.  I have been told by those on the inside that there are ways of recognizing affirmative-action admissions. Still, one almost feels sorry for Michelle.  She was in so far over her head it is no wonder she projected her angst onto the white people around her. “Regardless of the circumstances underwhich [sic] I interact with whites at Princeton,” she wrote in the opening of her thesis, “it often seems as if, to them, I will always be black first and a student second."
Barack was the smarter and better educated half of the couple. That said, had Obama’s father come from Kentucky not Kenya and been named O’Hara not Obama, there would been no Harvard Law Review, no Harvard, no Columbia.

In his overly friendly biography, The Bridge, David Remnick writes that Obama was an “unspectacular” student in his two years at Columbia and at every stop before that going back to grade school.
 A Northwestern University prof who wrote a letter of reference for Obama reinforces the point, telling Remnick, “I don’t think [Obama] did too well in college.” As to Obama’s LSAT scores, Jimmy Hoffa’s body will be unearthed before those are.
How such an indifferent student got into a law school whose applicants’ LSAT scores typically track between 98 to 99 percentile and whose GPAs range between 3.80 and 4.00 is a subject Remnick avoids.
Obama does too. Although he has admitted that he “undoubtedly benefited from affirmative action programs” during his academic career, he has remained mum about some reported “back door” influence peddling that may have been as useful to him as affirmative action.
In late March 2008 the venerable African-American entrepreneur and politico Percy Sutton appeared on a local New York City show called "Inside City Hall." When asked about Obama by the show’s host, Dominic Carter, the former Manhattan borough president calmly and lucidly explained that he had been “introduced to [Obama] by a friend.”
The friend's name was Dr. Khalid al-Mansour, and the introduction had taken place about twenty years prior. Sutton described al-Mansour as "the principal adviser to one of the world's richest men." The billionaire in question was Saudi prince Al-Waleed bin Talal, the same billionaire whose anti-Semitism caused Mayor Rudy Giuliani to reject his $10 million gift to New York City post 9/11.
According to Sutton, al-Mansour had asked him to "please write a letter in support of [Obama]... a young man that has applied to Harvard." Sutton had friends at Harvard and gladly did so.
Three months before the election it should have mattered that a respected black political figure had publicly announced that an unapologetic anti-Semite like al-Mansour, backed by an equally anti-Semitic Saudi billionaire, had been guiding Obama’s career perhaps for the last twenty years, but the story died a quick and unnatural death.
As for Malia, whose grades and scores are as much a state secret as her father’s, the old man damns with the faint praise of  “capable” and “conscientious.” But hell, Bill’s daughter Chelsea got into Stanford and George’s daughter Barbara got into Yale, so this particular path to the back door was well worn.
Barack Obama’s back door, however, was unique to him. Before prosecutors send some of the dimmer Hollywood stars to the slammer for their dimness, they might want to ask just how much influence a Saudi billionaire peddled to get Obama into Harvard.

STARING IN THE FACE of AMERICA’S UNRAVELING and the ROAD TO REVOLUTION
It will more likely come on the heels of economic dislocation and dwindling wealth to redistribute.”
 “Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” -- Karen McQuillan  THEAMERICAN THINKER.com

"The kind of people needed for violent change these days are living in off-the-grid rural compounds, or the “gangster paradise” where the businesses of drugs, guns, and prostitution are much more lucrative than “transforming” America along Cuban lines." BRUCE THORNTON
*
There can be no resolution to any social problem confronting the population in the United States and internationally outside of a frontal assault on the wealth of the financial elite. 
*
 The political system is controlled by this social layer, which uses a portion of its economic plunder to bribe politicians and government officials, whether Democratic or Republican.


Why do all global billionaires want wider open borders, amnesty and no E-VERIFY?
AMERICA: THE ECONOMY IS RIGGED BY COGRESS SO THE RICH BECOME SUPER RICH.
The American middle class gets the tax bills for Wall Street’s crimes and bottomeless bailouts!

Wealth concentration increases in US.


*
*
The latest research on wealth inequality by University of California economics professor Gabriel Zucman underscores one of the key social and economic trends since the global financial crisis of 2008. Those at the very top of society, who benefited directly from the orgy of speculation that led to the crash, have seen their wealth accumulate at an even faster rate, while the mass of the population has suffered a major decline.
*
The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.
*

“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan AMERICAN THINKER

Watch–Wells Fargo CEO Grilled for Outsourcing American Jobs to India



  223
5:29

Wells Fargo CEO Tim Sloan was grilled during a congressional hearing this week for the multinational corporation’s outsourcing scheme that has left thousands of Americans out of work.

Last year, Wells Fargo executives announced that about 26,500 employees at the company would be laid off after years of the corporation’s outsourcing and offshoring of American jobs to India and the Philippines. In 2017, about 650 American workers were laid off by Wells Fargo in Pennsylvania, South Carolina, and Washington.
At the same time, Americans were being laid off, the multinational bank announced it would hire an additional 7,000 workers in the Philippines to add to its 4,000-strong workforce in the country.
In 2018, Wells Fargo executives said nearly 640 American workers would soon be let go and would not certify that those jobs would not be sent to India or the Philippines, as has been the case in the past.
Rep. Cindy Axne (D-IA) questioned Sloan over the corporation’s outsourcing of American jobs. In one case, Axne explained, a Wells Fargo worker in Des Moines, Iowa was allegedly told by executives that her job was being moved to India.
Axne also detailed cases where Wells Fargo employees in Des Moines were allegedly sent to India to train their foreign replacements and have trained their replacements through “virtual classrooms” before they were laid off.
The exchange went as follows:
AXNE: In September 2018 Wells Fargo announced it planned to reduce its work force by laying off as many as 26,000 workers. In November 2018, Wells announced it was laying off 1,000 employees – 400 of those were in Des Moines, correct?
SLOAN: We never announced that we were going to layoff up to 26,000 employees. what I said at a town hall where I —
AXNE: Did you layoff 400 employees in Des Moines?
SLOAN: I was referring to the first part of your question. That’s not an accurate statement. Generally what I said was that between — that over the next three years, we expect our total employment to reduce by between five and 10% —
AXNE: I’m concerned about the people in my District. Were 400 of those people in Des Moines?
SLOAN: 400 folks were displaced in Des Moines.
AXNE: What was the reason for that layoff in Des Moines?
SLOAN: It depended upon their job. Some of those folks were displaced because of the fact that the amount of servicing demand that we had in the mortgage servicing business had declined. There were other reasons —
AXNE: I have a signed affidavit here saying that an employee in Des Moines was told her job was being moved to India and employees in that area have gone to India to train those replacements and I’ve heard from employees that are using your virtual classrooms for that same purpose to train other people in other companies. Are these recent layoffs really just you moving jobs overseas?
SLOAN: No. That’s incorrect.
AXNE: You’ve added more than 10,000 employees between India and the Philippines in the last five years and I know you’re building a new facility in Philippines for another 7,000 employees I believe. Can we expect that more of your planned layoffs are going to be jobs moved overseas?
SLOAN: No. I don’t believe that’s going to be the case. We have 20,000 job opening at Wells Fargo today. 90% of those are here in the US, probably more than that. We hire between 40 and 50,000 —
AXNE: I fail to understand, though, how we’re laying people off in this country and building jobs overseas. thank you.
In Iowa’s 3rd Congressional District in 2018, there were more than 2,000 H-1B foreign visa workers employed at a variety of companies earning mostly between $60,000 to $80,000 a year — U.S. jobs that would have otherwise gone to American middle class professionals. Wells Fargo, as of 2018, employed 36 H-1B foreign visa workers in Iowa’s 3rd District.
Every year, more than 100,000 foreign workers are brought to the U.S. on the H-1B visa and allowed to stay for up to six years. There are about 650,000 H-1B visa foreign workers in the U.S. at any given moment. Americans are often laid off in the process and forced to train their foreign replacements, as highlighted by Breitbart News. More than 85,000 Americans a year potentially lose their jobs to foreign labor through the H-1B visa program.
Wells Fargo has consistently imported foreign workers through the H-1B visa program to take high-paying, white-collar U.S. jobs. Between 2015 and 2017, Wells Fargo tried to import nearly 400 foreign workers to take jobs in the U.S.
Cheap, foreign labor is the most prominent driver of multinational corporations outsourcing American workers’ jobs to third-world nations.
For instance, while the average yearly American family’s income is roughly $73,000, the average family’s income in the Phillippines is about $5,200 U.S. dollars, making it a haven for multinational corporations to exploit cheap labor, lay off Americans, and widen executives’ profit margins.
Outsourcing and the offshoring of American jobs to foreign countries is a business model that has been embraced by multinational corporations. Corporations like AT&THarley-DavidsonRalph LaurenNike, and IBM have all laid off Americans in order to send their jobs overseas.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.



OBAMA-CLINTONOMICS: You were wondering how many jobs went to illegals and how well Obama’s crony banksters have done???


The sputtering economic recovering under President Obama, the last to follow a major recession, has fallen way short of the average recovery and ranks as the worst since the 1930s Great Depression, according to a new report.



Had the recovery under Obama been the average of the 11 since the Depression, according to the report, family incomes would be $17,000 higher, six million fewer Americans would be in poverty, and there would be six million more jobs.


US jobs numbers highlight global 

growth concerns

Exclusive–Mo Brooks: ‘Masters of the Universe’ Want More Immigration to ‘Decrease Incomes of Americans’
Consequently, the pumping of ultra-cheap money into the financial system, fueling speculation and parasitism, together with ever-widening social inequality, is not a temporary measure but must be made permanent.
The declining living standards of the working class are feeding directly into the retail apocalypse and mass layoffs of retail workers will only exacerbate the issue. 

Workers’ wages have seen little to no growth in the last 

four decades, and any economic growth experienced 


since 2008 has gone to the rich.

“US household net worth sees biggest fall since crisis”

The past 40 years have seen the 

consolidation of a plutocratic elite, which has

subordinated every aspect of American 

society to a single goal: amassing ever more 

colossal amounts of personal wealth. The top 

one percent have captured all of the increase 

in national income over the past two decades, 

and all of the increase in national wealth since


the 2008 crash.

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