THE DOWNSIDE OF GLOBALIZATION

It doesn't take a genius: No jobs, no profits. I am continually amazed that nearly all economists base the health of our economy of data that does not accurately reflect the general population's situation. Their statistics indicate near full employment based upon unemployment claims. But what about long-unemployed who have exceeded unemployment timeframes or who have given up after years of searching for comparable jobs? What about those people who have taken dramatic pay cuts, because those are the only jobs available to them? Last night on the Charlie Rose Show, an Indian economist said that his corporation is growing 30% every year (net & profit & stock value) for a significant number of years. He added that Indians are only taking jobs for which there are no qualified US workers. This is a myth. This is about the bottom line. Off-shoring is less expensive than paying workers in our country - whether at call centers or in high-tech fields. Our country's purchasing infrastructure is weakening. No jobs, no purchases.