Re: Former Senator Tells Who Is Destroying the Country

On Dec 20, 9:05�am, Global Network <global...@mindspring.com> wrote:

They're All Against Jobshttp://www.huffingtonpost.com/sen-ernest-frederick-hollings/theyre-al...
t-jobs_b_397405.html

By Fritz Hollings (Former Democrat Senator from South Carolina)

Who is against jobs in the United States? The big banks, Wall Street,
the Council on Foreign Relations, the Business Roundtable, the
United States Chamber of Commerce, the National Retail Federation,
Corporate America, the President of the United States, Congress of
the United States. Everyone is crying for jobs, but no one seems
to understand why there aren't any. And the reason for those opposing
jobs is money.

Beginning in 1973, big banks made most of their profit outside of
the United States. Industries off-shoring, investing, banks financing
the investments, transfer fees, fees and interest on the loans made
for bigger profits. Long since, the big banks under the leadership
of David Rockefeller have led the way to off-shore and make a bigger
profit. Goldman Sachs, AIG, Citicorp and Wall Street, conspiring
for a bailout and now using it for bonuses, make more money from
the off-shored operations.

The Council on Foreign Relations ought to be renamed the Council
on Making Money. A recent PEW poll reported fully 85% of Americans
said that protecting United States jobs should be a top foreign
policy priority. But only 21% of the Council on Foreign Relations
agrees. Financial interests organized the Business Roundtable to
continue off-shore investment and profit. The local Chamber is for
Main Street America, but Tom Donahue and the United States Chamber
have sold out to the financial interests and oppose jobs and producing
in the United States. Thirty years ago, hundreds of thousands of
Arrow shirts produced in China were a best seller in the United
States. But at Christmastime, the Chinese supply ran short and the
retail stores had to order the same shirt from New Jersey. They
made 20% less profit on the New Jersey shirt. Retailers are all for
profit from imports and against domestic production and jobs in
America.

Corporate America would fight any initiative by the President, the
Congress, or the government to create jobs in the United States.
That is, production that faces competition offshore. In globalization,
U. S. production can't make a profit, can't survive. Its competition
will off-shore the same article for a lesser price, putting you out
of business. Moreover, Corporate America doesn't have to bother
with labor in China. The China government controls labor and you
don't have to worry about a work stoppage or minimum wage. All they
have is a maximum wage.

And Corporate America doesn't have to worry with clean air and clean
water or the environment in China. Nor does it have to worry with
OSHA and all of its safety rules. Many times the factory building
is furnished and you don't have to worry with capital costs. If you
make a profit, you can just reinvest it in an additional operation
and not have to pay any U. S. income tax. If the operation fails,
walk away with no legacy costs. Corporate America bitterly opposes
its government protecting and strengthening the U. S. economy because
producing again in America will put the executives back to work.
They can send a Jaycee to China to watch the quality control daily
and sit on the 32nd floor on Sixth Avenue with the internet, keeping
check, and, leaving early for a massage and drinks. With production
in China they don't have to work.

As Commander-in-Chief, the President dithered for months over the
number of troops. But he can't equip the troops except for the favor
of a foreign country. The War Production Act of 1950 requires the
President to make sure that we can produce in- country those articles
necessary for our national defense. Enforcing this law would limit
the campaign contributions. Under Section 201 of the trade laws,
the President is supposed to take action, like impose tariffs or
quotas, when a certain production is endangered. Not only endangered,
our automobile production has been bankrupted. But all the President
does is give Detroit bailout welfare. The President doesn't want
to limit the campaign contributions.

The same with Congress. Senator Byron Dorgan of North Dakota long
ago tried to allocate the tax incentive for foreign jobs and
production to domestic jobs and production. The Business Roundtable
and the U. S. Chamber fought it like a tiger and killed it.

As the President said in his West Point talk, there is fierce
competition in international trade and globalization. All countries
move to protect and build their economies while the United States
goes out of business. The one advantage that the U.S. has is its
richest market in the world. It is fast becoming the poorest market
and the U.S. is losing any clout to maintain a strong economy.

The economy is in the hands of Summers, Bernanke and Geithner.
Campaign contributions are in the hands of David Axelrod and Rahm
Emanuel. The poor President is smart, diligent and working his head
off campaigning. But he is inexperienced and not governing, and the
Congress is in a Mexican standoff over an archaic filibuster rule
that reveres democracy by the minority.

Of course, the media, which knows this and keeps it top secret, is
owned by big business.

If I don't meet you in the breadline, my children will.

Merry Christmas!

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