Tapsearch Com EditorEconomic crisis forecasted
October 14th 2010 00:34
Ray Tapajna Chronicles mobile user friendly site
The predictable economic crisis. Is it 1995 or 2010
For more than 200 years, banking was the most secure industry in America. Then from 1991 to 1995, 200,000 bank jobs were lost. In 1996, many experts predicted that half of the two million jobs in banking at that time would be eliminated in the coming years. They were!
Technology was taking over in many sectors and jobs were being afffected this way too. Who would have thought our government would use this time to give our technology to other countries with nothing in return. The pricing of computers and techhology products came down but at the same time , more than a million workers lost their jobs in the computer industry alone. Now we are finding out that it cost about a million dollars just to create one new job. The vast lay offs of computer workers caused the Y2k crisis. Then billions were spent correcting the problem in the latter part of the 1990s. This money acted as a stimulus package but it was money that government and private corporations did not really have to spend. It boomerang in the early 2000s with more companies closing down. Many closed becuase they spent money they did not have trying to get past their computer systems problems.
The American Dream began to collapse. In the span of only one generation, young workers were only making about one-third less than their fathers at the same age. And each year, incomes go down farther and farther with a working poor class in place.
The stock market rejoiced and called it all an increase in productivity. Instead it was all about fewer workers doing what it took many others to accomplish.
The news media had stories about the computers bringing more leisure time.
However, the average work week jumped from 40 hours in 1973 to 47 hours in 1988. Instead of finding more leisure, workers found they had to work longer for less.
In 1996, 20 percent of college graduates ended up unemployed or in jobs that do not require a degree. More than 70 percent of all college educated people were working in fields they were never trained for. In 1996, Experts predicted that 35 percent of all white collar college educated people would lose their jobs by the year 2,000
The forecast became a reality and more jobs vanished for the next decade too.
So all the warning signs were there. Now news reporting tell us that the 1990s were the years of prosperity and they break down their reporting to segmented incidents of recent years as if it was true.
The fact free trade back then and now is the major cause behind our economic crisis. Still the free traders and money changers forecast free trade as the process of the future that will bring prosperity to all of the world. Those of you are outside looking in at the process, will be passed by. President Obama bailed out the big money changers who supported the free trade scam and then put them back in charge again to keep doing the same thing all over again.
Not until someone comes along and says that free trade has failed for a generation now and we must find something different. The Marshall Plan was an example of what works. Instead of chopping up economies and sending the pieces around the world, we need to duplicate success. Now our economies based on making money on money instead of making things are burning out and there is little hope of putting out the fire. The money changers are now using funny money to stop the fire and it will not work.
Main resource Turning Myth into Reality by Burke Hedges, Feb 1996
Squid Me / q or Squid.me/R
The predictable economic crisis. Is it 1995 or 2010
For more than 200 years, banking was the most secure industry in America. Then from 1991 to 1995, 200,000 bank jobs were lost. In 1996, many experts predicted that half of the two million jobs in banking at that time would be eliminated in the coming years. They were!
Technology was taking over in many sectors and jobs were being afffected this way too. Who would have thought our government would use this time to give our technology to other countries with nothing in return. The pricing of computers and techhology products came down but at the same time , more than a million workers lost their jobs in the computer industry alone. Now we are finding out that it cost about a million dollars just to create one new job. The vast lay offs of computer workers caused the Y2k crisis. Then billions were spent correcting the problem in the latter part of the 1990s. This money acted as a stimulus package but it was money that government and private corporations did not really have to spend. It boomerang in the early 2000s with more companies closing down. Many closed becuase they spent money they did not have trying to get past their computer systems problems.
The American Dream began to collapse. In the span of only one generation, young workers were only making about one-third less than their fathers at the same age. And each year, incomes go down farther and farther with a working poor class in place.
The stock market rejoiced and called it all an increase in productivity. Instead it was all about fewer workers doing what it took many others to accomplish.
The news media had stories about the computers bringing more leisure time.
However, the average work week jumped from 40 hours in 1973 to 47 hours in 1988. Instead of finding more leisure, workers found they had to work longer for less.
In 1996, 20 percent of college graduates ended up unemployed or in jobs that do not require a degree. More than 70 percent of all college educated people were working in fields they were never trained for. In 1996, Experts predicted that 35 percent of all white collar college educated people would lose their jobs by the year 2,000
The forecast became a reality and more jobs vanished for the next decade too.
So all the warning signs were there. Now news reporting tell us that the 1990s were the years of prosperity and they break down their reporting to segmented incidents of recent years as if it was true.
The fact free trade back then and now is the major cause behind our economic crisis. Still the free traders and money changers forecast free trade as the process of the future that will bring prosperity to all of the world. Those of you are outside looking in at the process, will be passed by. President Obama bailed out the big money changers who supported the free trade scam and then put them back in charge again to keep doing the same thing all over again.
Not until someone comes along and says that free trade has failed for a generation now and we must find something different. The Marshall Plan was an example of what works. Instead of chopping up economies and sending the pieces around the world, we need to duplicate success. Now our economies based on making money on money instead of making things are burning out and there is little hope of putting out the fire. The money changers are now using funny money to stop the fire and it will not work.
Main resource Turning Myth into Reality by Burke Hedges, Feb 1996
Squid Me / q or Squid.me/R
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This was originally a headline in the late 1990s and who ever thought things would still get worst ten years later. What will the headlines read ten years from now?