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I see an economic diasater coming...

Started by the_big_m_in_ok, September 03, 2009, 01:05:30 AM

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Do you think the American economy will ever improve?

Yes, definitely
Possibly, in the long run
No, it will worsen
Undecided

triffid


At its peak, for two and a half years from April 1998 through August 2000, Mr. Romney and his Brookside Capital Partners Fund, affiliate of Bain, invested approximately $23 million in the Global-Tech sweatshop in Dongguan, China.
Mr. Romney was there when the Race to the Bottom in the global sweatshop economy was launched.  Mr. Romney noted "the pittance they earned"â€" just 24 cents an hour in 1998 and less than $2.00 a day.  Wages in Global-Tech were less than 2 percent of U.S. wages.
Despite his investment and power as Bain's CEO, Mr. Romney apparently failed to urge Chinese management to even modestly improve Global-Tech's gross working and living conditions or the pitifully low wages of its workers.
If Mr. Romney had spoken up, conditions at Global-Tech might be far better today.  Sadly, in 2012, Global-Tech remains a brutal sweatshop, where workers are paid starvation wages of $1.00 an hour and have no rights.   
According to the Institute for Global Labour and Human Rights' investigation, conditions at Global-Tech are abysmal: primitive, filthy dorm conditions are the norm; routine 15- to 16-hour shifts prevail, along with grueling 105- to 112-hour, seven-day work weeks.
Eight hundred student interns â€" many exhausted children, just 16 years old â€" are forced to work the grueling 15- to 16-hour shifts with no overtime pay.
In the context of Mr. Romney's present "get tough on China" stance, it would be critical for Mr. Romney to clarify exactly what he and Bain Capital did at the Global-Tech factory in Dongguan, China to push back against the evident abuses in the factory and to assure respect for human, women's and workers' rights.


triffid

I cannot believe the incredible GREED OF THESE PEOPLE.Its like you go to a banquet and right in front of your eyes.Out of 1000 guests there are 10 people who put their hands in every plate.Making sure they have touched your food you are about to eat.Making sure they did not wash their hands.


ITS ALL ABOUT POWER.
THERE IS ENOUGH FOOD FOR EVERYONE.
ENOUGH MONEY TOO.


TRIFFID

triffid

I have known for about a year that our system is so broken.So broken that theres very little you can do about it as an individual.When we think about 9/11/2001.We forget that about 13 months before in the stock market that we were told to buy this stock,buy that stock.Many Americans were incouraged to buy stocks that were over priced,no earnings to speak of and over a peroid of 13 months many people had a reduction in wealth to the tune of 166,666 dollars each.


from martin weiss"the ultimate safe money guide"
published 2002
WORD FOR WORD
ALL TOLD,THE TOTAL MARKET VALUE OF THE MORE THAN 4300 STOCKS LISTED ON THE NASDAQ PLUNGED FROM 7.6 TRILLION DOLLARS ON MARCH 10,2000 TO 2.4 TRILLION  DOLLARS ON APRIL 6,2001.INVESTORS LOST 5.2 TRILLION DOLLARS---MORE MONEY THAN WAS LOST IN THE WORST CRASHES OF ALL RECORDEDHISTORY,THE EQUIVALENT OF NEARLY HALF THE THE ENTIRE GROSS PRODUCT OF THE MOST POWERFUL ECONOMY OF THE WORLD.ALL GONE IN JUST 13 MONTHS.

triffid

Misinformation was the tool that did this.The critical information you and I needed was passed through a series of filters,each removing  some piece of bad news,each adding a new layer of hype,distortion ,and even outright lies.Most times the companies did not have the earnings that had been expected.So people who bought into the hype lost big time.Thinking back to that time ,before 9/11/2001
I knew some people at work who were well off before the big decline.Ones stock account had reached over 900,000 dollars she said then watched it decline to about $300,000 when she suddenly passed away.Another guy I knew had a plan to buy Yahoo and leverage $300,000 into a million based on what the company had done 7 times in the last seven years(stock price wise).It had been at 100 dollars a share then go up over a 300 dollars a share.The year he did this He bought at 100 dollars a share and watched it drop to 13.00 dollars a share.2000-2001.

triffid

So the information was doctored by those who wanted to sell stocks.Weiss calls it "The Great Stock Market Scam".People were told that these stocks were ok to buy by those who wanted to sell them.triffid