posted on Sep, 13 2011 @ 04:16 PM
reply to post by BlackOops
Poverty rate rises in America
I mean, why is the poverty rate in America on the rise?
Because the great middle class... or the jobs they used to hold, moved to China. The represents one of two things; the failure of the American version
of Capitalism or the triumph of corporate greed over national pride. I tend to lean to the latter because if those millions upon millions of jobs that
left US soil for that far away land were still here, there would be less poverty and more of those fat times.
We simply reached a standard of living that was too high to be comfortably sustained by its native private sector. As people gained more and more
wealth, it became profitable to increase prices and as prices increased, so did payrolls... and it goes on and on.
For the time being, the Chinese are happy to work for peanuts because the cost of living is strictly controlled. Unlike the US, the currency doesn't
depend on so many factors to remain at a given spot. As such, US industry can hammer out tons of goods to send back home...
... of course, the good folks back home will soon no longer have the jobs or money to afford them anymore. When that happens, and it most certainly
will, this whole globalization concept is going to implode and leave a mess that will take centuries to recover from.