Road to Corporate Serfdom

[yurbud]

The intro to this column captures why I have felt some frustration with the Obama administration and Democrats in Congress even though they have made some modest though real reforms: they have seen the problem as just an economic downturn while many of us see the far more serious underlying problem of corporate crime and capture and control of our government being unaddressed.

It was Bill Clinton’s campaign strategist, James Carville, who in 1992 created the election slogan: “It’s the Economy, Stupid.” For the 2010 Congressional campaigns, the slogan should have been: “It’s Corporate Crime and Control, Stupid.”


***

The U.S. won World War II. Germany lost and was devastated. Yet note this remarkable headline in the October 27th Washington Post: “A Bargain for BMW means jobs for 1,000 in S. Carolina: Workers line up for $15 an hour—half of what German counterparts make.”

The German plant is backed by South Carolina taxpayer subsidies and is not unionized. Newly hired workers at General Motors and Chrysler, recently bailed out by taxpayers, are paid $14 an hour before deductions. The auto companies used to be in the upper tier of high paying manufacturing jobs. Now the U.S. is a low-wage country compared to some countries in Western Europe and the trend here is continuing downward.

Workers in their fifties at the BMW plant, subsidizing their lower wages with their tax dollars, aren’t openly complaining, according to the Post. Not surprising, since the alternative in a falling economy is unemployment or a fast food job at $8 per hour.

http://pdamerica.org/articles/news/2010-11-01-10-34-03-news.php

[sadbear]

1. You know we're on our way to third world status

Especially when other countries are outsourcing their jobs to us.