Bachus Getting Frank on Bush
From Bennie and the Feds Senate testimony....
In opening remarks, (Barney)Frank said the Bush administration's view that globalization offered only benefits, and that businesses should feel no constraint about moving to wherever costs were lowest, was causing U.S. workers widespread unease.
"Increasingly, the average citizen in America and in other countries has come to doubt that growth that results from this policy of entirely free capital to move wherever it finds its best return ... is in their interest," Frank said. Really, do you think?
Bernanke said jobs were begging for American workers who had the appropriate training and skills, and repeated observations he made in a timely speech a week earlier in which he urged spreading economic opportunity by making education more readily available.
I wonder how all the "over 35" aged based layoff's feel these days, seeing how there is a multitude of unemployed yet highly qualified MBA's & PHD's.
This is the same big business funded disinformation and propaganda campaign that ITAA spreads in an attempt to justify raising H1B visa quotas. Just ask anyone in software development or nursing...
Other committee members, including ranking Republican Spencer Bachus of Alabama, joined the fray, saying the economy was healthier now than during the Clinton administration years when the longest U.S. economic expansion on record occurred.
"I see a structurally sound economy performing as well as it did in the 1990s in what we now know was an artificial economic bubble," Bachus said.
A comment of bacchanalian proportion, as dot.com was artificial, but at least the dollar was strong and housing was still "reasonably" priced.
The cheap money housing bubble ATM with it's debauched dollar, $60+ oil, stagnant wages and hyperinflation isn't better by any stretch of the imagination.
Structurally sound? With globalization's complete cannibalization of US manufacturing, textile and automotive sectors, there's little to fall back on when this "house of cards" collapses.
In opening remarks, (Barney)Frank said the Bush administration's view that globalization offered only benefits, and that businesses should feel no constraint about moving to wherever costs were lowest, was causing U.S. workers widespread unease.
"Increasingly, the average citizen in America and in other countries has come to doubt that growth that results from this policy of entirely free capital to move wherever it finds its best return ... is in their interest," Frank said. Really, do you think?
Bernanke said jobs were begging for American workers who had the appropriate training and skills, and repeated observations he made in a timely speech a week earlier in which he urged spreading economic opportunity by making education more readily available.
I wonder how all the "over 35" aged based layoff's feel these days, seeing how there is a multitude of unemployed yet highly qualified MBA's & PHD's.
This is the same big business funded disinformation and propaganda campaign that ITAA spreads in an attempt to justify raising H1B visa quotas. Just ask anyone in software development or nursing...
Other committee members, including ranking Republican Spencer Bachus of Alabama, joined the fray, saying the economy was healthier now than during the Clinton administration years when the longest U.S. economic expansion on record occurred.
"I see a structurally sound economy performing as well as it did in the 1990s in what we now know was an artificial economic bubble," Bachus said.
A comment of bacchanalian proportion, as dot.com was artificial, but at least the dollar was strong and housing was still "reasonably" priced.
The cheap money housing bubble ATM with it's debauched dollar, $60+ oil, stagnant wages and hyperinflation isn't better by any stretch of the imagination.
Structurally sound? With globalization's complete cannibalization of US manufacturing, textile and automotive sectors, there's little to fall back on when this "house of cards" collapses.
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