Hundreds of jobs are being relocated overseas or lost altogether as a result of the June 30 expiration of the Export-Import Bank — with no relief in sight as a gridlocked Congress is unlikely to reauthorize it anytime soon.
General Electric announced Tuesday that will move 500 U.S.-based jobs to Europe and China because the agency’s expiration means it has to seek export financing credit elsewhere. Boeing, meanwhile, blamed the collapse of a second satellite deal on the loss of credit and said it will likely result in the loss of hundreds of jobs by year’s end. MORE
Inequality is about much more than the growing chasm of income and wealth between those at the very top and everyone else in America. It’s also about education, environmental hazards, health and health care, incarceration, law enforcement, wage theft and policies that interfere with family life over multiple generations.
In its full dimensions, inequality shapes, distorts and destroys lives in ways that get little attention from politicians and major news organizations. How many of us know that every day 47 American babies die, who would live if only our nation had the much better infant mortality rates of Sweden?
“Poverty is not natural,” Nelson Mandela once said. “It is man-made and it can be overcome and eradicated by the actions of human beings.”
The man-made disparities between the rich and the poor are a threat to the liberties of the people. Plutarch, the Greco-Roman historian, observed more than 2000 years ago that, “an imbalance between rich and poor is the oldest and most fatal ailment of all republics.” MORE
How do you value the efforts of America’s top chief executives? Are they worth 10 times what their average worker makes, 20 times or even 100 times?
The current answer appears to be a ratio of more than 300-to-1, according to a new study from the left-leaning Economic Policy Institute. The meteoric rise of CEO pay is nothing short of breathtaking, outpacing not only the wages of ordinary workers, but also gains in the stock market and the not-too-shabby rise of income among America’s 0.1 percent of top earners. MORE
That’s right, YOU, the American consumer.
Because you just go out and buy gobs and gobs of shit and you don’t give a damn if its made here or not. And because you do that, there is always going to be someone willing to make your shit overseas and ship it to you. In fact, YOU are actually the biggest problem here. More than free trade. More than globalization. More than technology. MORE