Democrats

The Real Shape Of The American Economy

July 26, 2007 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

Recently Wall Street pulled back sharply in response to several disappointing earnings reports. Well maybe someone needs to tell Wall Street, and the Global Business World for that matter, that outsourcing and globalization is a recipe for disaster and now corporations are learning the hard way. American workers made good wages and they spent their good dollars on good products. However, big business has outsourced American jobs, lost the income they generated from American worker dollars, and they are now bemoaning all over Wall Street. What the outsourcing idiotic CEO’s forgot is that Hong Phat, Juan Lupe, and Siddharma Swoonapoop cannot afford to buy their products because they are working for slave wages. Americans are without jobs so that source of income is gone, and now the once cash cow status of the American economy has become the O.K. Corral of the business world. If Americans build it they can afford to buy it, if they do not then they cannot, it is that simple. Companies’ outsourced thinking A merica would stay strong but now the world is seeing that it needs a strong America and Europe if it hopes to maintain profitability and hopefully the next American President will recognize this when he\she is elected in 2008. Hopefully this new President will enact legislation designed to protect American jobs and save the American economy and American businesses.

DuPont Company reported flat second-quarter profit. American Express stated that its quarterly profit climbed but so did the number of nonpayment’s. American Express shows the current state of the average American, he\she is still buying but they are now buying on credit and they cannot afford to pay back what they are borrowing, is this really the sign of a healthy economy?

McDonald’s Corporation posted a loss after taking a charge for the sale of its Latin American outlets. McDonalds learned the hard way that it is almost impossible to actually do business in the outsourcing countries of the world. You can’t turn a buck in a country built on slave labor and many other similar companies are finding out the same thing.

Countrywide Financial Corporation slashed its earnings forecast as mortgage banking earnings were cut in half. The U.S. mortgage industry has continued to slump amid delinquencies and defaults in sub prime loans.

How much lower does America need to sink before someone finally addresses the issue? Americans need jobs nd they need work, its just that simple. Keep Americans working and the American and global economy will be strong, let it slip and it won’t. It’s just that damn simple.

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