Debt Rattle May 13 2015
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Lewis Wickes Hine Workers in Maryland packing company 1909 • Obama’s Plans For TPP, TTIP Trade Deals In Tatters After Senate Vote (Guardian) • US Sena
[See the full post at: Debt Rattle May 13 2015]“Europe Prepares Plan To Fight Human-Traffickers (Spiegel)”
A travel agent can take care of all the problems with a tour package
1. An organized European Cruise vacation
2. An organized European bus tour
3. An organized private vacation plane charter to multiple European cities.Ilargi, you’re brilliant. That Shorpy photo at the top positively shouts the solution. Abolish child labor laws (including minimum wage) and thus bring U.S. wages back into parity with Chinese slave labor! No more exporting of jobs to China! (Those kids will literally work for peanuts.) A new, youthful source of income taxes to breathe life back into social programs for retired people! Zero unemployment for the under-21 set! A win-win for everybody! 😉
TPP:
“The TPP, generally supported by pro-free-trade Republicans but opposed by labor-union Democrats, reportedly contains a barely noticed provision that allows for the free migration of labor among the signatory nations. Patterned after similar provisions in the treaties establishing the European Union, it would override national immigration restrictions in the name of facilitating the free flow of labor.
The draft treaty, now under discussion among 12 Pacific Rim nations, including the U.S., Canada, Mexico, Vietnam and Japan, makes provision for needed labor to move across national boundaries without restraint. While much of the commentary on the deal has been focused on high-skill, white-collar migration, it could easily be interpreted as allowing farm workers and others to flow back and forth without legal regulation.”
https://thehill.com/opinion/dick-morris/239633-dick-morris-tpp-mass-immigration
Drive labor costs into the ground here, raise labor costs in emerging markets and developing countries. Sounds benevolent. Heard Hugh Hendry justify what corporations and hedge funds are doing on the basis of “we must help the rest of the world”. The guy interviewing him wasn’t having any of it, called Hendry on his fake benevolence, and Hendry eventually said, “Yeah, maybe there won’t be hedge funds around in ten/twenty years.” Yeah, like these guys care about helping the rest of the world! We heard the same thing from Rogoff a few days ago in an article that Ilargi posted.
Equal up labor costs around the world; that way we’ll all be starving and they’ll have complete control. All these parasites/cannibals care about is making themselves richer, be damned with sovereignty/culture. We’re all one now, baby!
And the jobs that will be lost will be astonishing.
@ Raleigh reply # 21053
By God, I think you’re on to something there. Reduce wage cost to restore competition for prices, drive the income of labour into the ground of bare subsistence or even below. What needs do labourers have to be buying anything they might produce, leave that for their betters to take care of.
It is absolutely brilliant idea to open employment to children who can easily be paid the least for their time and effort. Absolutely brilliant to offer opportunity to the most compliant and dependent and least likely to object segment of the population. And you so generously broaden your considerations to the womenfolk as well, pure genius that, taking advantage of social hierarchy of female submission that is fundamentalist bedrock conditioning; another segment not so likely to upset the applecart of your economics.
And lastly but not leastly the awesomeness of allowing the importation of compliant labour paid as poorly as is possible to compete with all those who so foolishly want to earn enough to afford to have a family; raise, rear and educate their children to be socially productive adults – how utterly foolish that idea actually is.
But wait! what about the great alarm and pandemonium about the disappearance of the all too godly middle classes, the most sacred scarecrow measure of economic wellbeing? From whence did these good-folk come? Are not the most of them descended from those who labour? Who have had the opportunity to educate themselves and increase their productive economic value? It would be interesting to know, don’t you think, just how much this class actually owns, what fraction, of the means of production, of the productive resources employed in the economy. It is widely proclaimed the extent this class has ‘invested’ in equities representing ‘ownership’, but in reality, how much direction of those assets they truly have – direction of what is owned is the mark of actual ownership, not the suggestion of ownership such ‘equities’ carry.
Once the dynamic of equilibrium was central to the understanding of economic process, but those days are now long forgotten; disequilibrium is the order of the day, theology has replaced knowledgeability, and the order of the day is koyaanisqatsi, and no one seems to notice – or even care.
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