The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Is your 401(k) Inadequate For Retirement||Date: 7/30/2008 6:51 PM|
|Author: AngelMay||Number: 13754 of 19597|
And here I thought we were losing manufacturing jobs because the labor costs were too high in the U.S. - Howie52
I'm not sure I quite get your point. Yes, we are losing enormous amounts of our manufacturing base to nations that provide labor at a $1/hour (or less). Our corporations have been most succesful in shifting manufacturing to the lowest labor cost nations available (oftentimes without reducing the price of the goods sold to US consumers...think Nike).
Yes...those manufacturers take the jobs overseas to a different economy entirely. American workers don't live in that kind of economy so it would be impossible for them to survive on those wages. But then the manufacturers turn around and SELL the products made on a different economy to the people in THIS economy and we are hard-pressed to buy because we have no jobs. (Generic "we")
Society cannot forever support the kind of corporate greed we have seen demonstrated in our so-called "free trade economy". At some point, it has to be realized that we are all human beings and deserve to live with dignity. Off-with-their-heads revolutions have happened in the past when the people were beaten down past their limits -- and there is no reason to think it could not happen again, here.
It is obscene for a CEO to make a hundred times (or more) what the average worker in his corporation makes. He certainly works no harder. He doesn't put in more hours. He risks nothing of his own. Yet he is compensated at extravagant rates even when he is running the company into the ground.
There is a fatal flaw in all this. And it's going to bite somebody in the rear one of these days. Unfortunately, the country is going to fall as a result.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|