Friday, November 13, 2009

How Many More Jobs Will America Lose?

Have you ever wondered why America has suffered such a remarkable decline, consider; more than 315 major American companies with literally millions of high paying jobs have moved off shore. The list follows!

But consider also that every major bank and manufacturing company has outsourced its employees and actually moved its business to an off shore P. O. Box to avoid taxes, leaving America as a service oriented economy. Jobs are only growing in the following market place e.g. waiters and waitresses; janitors and cleaners; food preparation; nursing aides, orderlies and attendants; cashiers; customer service representatives; retail salespersons; registered nurses; general and operational managers; and post-secondary teachers, only service oriented jobs remain in America.

For decades America practiced the “best” aspects of colonialism, while avoiding the burdens. Unlike other nations which strove to bring the exploited nation into the “system”, America simply exploited.

There was originally no attempt to conquer, colonize, settle, and create an “off shore” America ; it was cash and carry, that is until recently, until America began its current phase of Empire or imperialism.

This worked well in supplying American companies with raw materials and cheap labor so finished products could be sold at many times the cost of production. But as hours and wages began to rise and overtime pay was required, and with laws against pollution being enforced the venues used by American business became less viable. The mega corporations saw the “handwriting” on the wall, and before the final bell, moved to another venue. American business began to look elsewhere, but even as business began to look off shore it needed co-operation from the government.

When Japan became too “expensive” in the 1950s, Korea and Taiwan were utilized. As these countries achieved a level of sophistication, American businesses moved into Third World nations, creating “free zones”, where locals could be exploited and tax breaks obtained.

By the 1980’s Reagan and Bush provided the necessary help in the form of grants, which along with those provided through Mexico and south American nations allowed our manufacturing segment to relocate free of expense, in some cases manufacturing plants were funded by the foreign government.

But as more nations reached the stage America had been in the 1950s/60, competition arose.

By the late 1990s America did not seem aware that China , for example, had taken over the American factories and was producing ‘American’ products under other names and selling them far cheaper.

By the 2000s, many American companies went out of business and/or have been purchased by foreign holdings. Though the company may be registered in America , its factories, labor force, even its owners are located in another country.

The bottom line is that there are fewer jobs for Americans, and less profit remains in America .

The Stock Market Bubble

An example of the mischief caused by this reverse colonialism, where the exploited nations turned around, and invested in American companies, until they literally or virtually, owned them, is that each nation, Korea, India, China, Brazil, etc use the balance of payments deficit to reinvest is American assets, “ownership” in American companies. It is this foreign corporate and national investment in America that is partially responsible for the buoyancy in the Stock Market, through what is called “sovereign wealth funds” (SWF).

SWF Foreign investment funds are funds owned by national governments and financed by the country's foreign currency reserves (dollar, euro, yen), often through their central banks or via direct investments.

The term sovereign wealth fund was introduced in 2005, but the first SEF was introduced in 1953 by the government of Kuwait (' Kuwait Investment Authority,' a commodity SWF). These funds are now major players in the world financial markets.

The combined assets of the major SWFs (owned by 20 governments) have reached over five trillion dollars, and are expected to reach over 10 trillion dollars by 2012. Although the current total amount makes up only some 4 percent of the world's traded securities, the SWFs already have tremendous concentrated financial power. Over half of the SWF assets are owned by oil and gas exporting nations, and about one third by Australia , China , and Singapore . SWFs are aggressive investors and have bought into firms as diverse as Morgan Stanley, General Electric, and Sony.

Although the great meltdown of the American economy seemed to have happened ‘overnight’ it was a long developing series of events, which can only be corrected by returning American manufacturing to America .

Simply put, Americans have no jobs, and no money, so they can not help in any effort to stabilize the economy.

In closing; I would remind the reader that a country cannot close nor balance its trade deficit if its economy is being moved offshore.

Offshore production hits the trade deficit from both ends: goods once produced domestically become imports, and as production moves offshore the ability to export declines. When a U.S. business moves a factory to China , that factory's products cease to be potential exports and become imports.

The following list of corporations that have moved off shore is current as of 2003, more have moved off shore since. This will give you some idea why America is in a state of decline and why the economy is in shambles.
Accenture; Adaptec; ADC; Adobe Systems; Advanced Energy Industries; Aetna; Affiliated Computer Services; A.G. Edwards; Agere Systems; Agilent Tech.; AIG; Alamo Rent A Car; Albertson's; Allen Systems Group; Alliance Semiconductor; Allstate; Alpha Thought Global;; AMD; American Express; American Household; American Management Systems; American Standard; Amphenol Corp.; Analog Devices; Andrew Corp.; Anheuser-Busch; AOL; Apple; Applied Materials; A.T. Cross Company; AT&T; AT&T Wireless; A.T. Kearney; Automatic Data Processing; Avanade; Avery Dennison
Bank of America; Bank of New York; Bank One; BearingPoint; Bear Stearns; Bechtel; BellSouth; Best Buy; Black & Decker; BMC Software; Boeing; Brocade; Bumble Bee
Cadence Design Systems; Capital One; Carrier; Cendant; Cerner Corporation; Charles Schwab; ChevronTexaco; CIBER; Ciena; Cigna; Circuit City, Inc.; Cisco Systems; Citigroup; CNA; Coca-Cola; Cognizant Technology Solutions; Columbia House; Comcast Holdings; Computer Associates; Computer Sciences Corporation; CompuServe; Continental Airlines; Convergys; Cooper Tire & Rubber; Cooper Tools; Countrywide Financial; COVAD Comm.; CSX; Cummins; Cypress Semiconductor
Dana Corporation; Delco Remy; Dell Computer; Delphi; Delta Air Lines; Direct TV; Discover; Document Sciences Corp.; Dow Chemical; Dun & Bradstreet; DuPont
Earthlink; Eastman Kodak; Eaton Corporation; EDS; Electroglas; Electronics for Imaging; Eli Lilly; EMC; Emerson Electric; En Pointe Technologies; Equifax; Ernst & Young; Ethan Allen; Evolving Systems; Expedia; ExxonMobil
Fair Isaac; Fedders Corporation; Federated Dept. Stores; Fidelity Investments; Financial Techologies International; First American Title Ins.; First Data; Fluor; Ford Motor; Franklin Mint; Franklin Templeton; Freeborders; Fruit of the Loom;
Gateway; GE Capital; General Electric; General Motors; GlobespanVirata; Goldman Sachs; Goodrich; Google; Greenpoint Mortgage; Guardian Life Insurance;
The Hartford Financial Services Group; HealthAxis; Helen of Troy Corp.; Hewitt Associates; Hewlett-Packard; The Holmes Group; Honeywell; HSN; Humana
IBM; iGate Corporation; IndyMac Bancorp; Infogain; Innodata Isogen; Innova Solutions; Intel; Intl. Paper; Intuit; Invacare; ITT Educational Services
Jabil Circuit; Jacobs Engineering; Jacuzzi; JDS Uniphase; Johnson Controls; Johnson & Johnson; JPMorgan Chase; Juniper Networks
KANA Software; Kaiser Permanente; Keane; KeyCorp; KLA-Tencor; Kraft Foods; Kulicke and Soffa Industries; Kwikset;
Lawson Software; Lehman Brothers; Levi Strauss; Lexmark International; Lifescan; Lillian Vernon; Linksys; Lionbridge Technologies; LiveBridge; Lockheed Martin; Lowe's; Lucent
Maritz; Marshall Fields; Mattel; Maytag; McDATA Corporation; McKinsey & CO; Medtronic; Mellon Bank; Merrill Corporation; Merrill Lynch; Metasolv; MetLife; Microsoft; Monsanto; Morgan Stanley; Motorola
Nabco; National City Corporation; National Life; National Semiconductor; NCR Corporation; neoIT; NETGEAR; Network Associates; Newell Rubbermaid; New York Life Insurance Co.; Northwest Airlines
Office Depot; Ohio Art; ON Semiconductor; Oracle; OshKosh B'Gosh; Otis Elevator Co.; Outsource Partners International; Owens Corning;
palmOne; Parker-Hannifin; Parsons E&C; Pearson Digital Learning; Pericom Semiconductor; Perot Systems; Pfizer; Pitney Bowes; Planar Systems; Portal Software; Pratt & Whitney; Primus Telecom; Procter & Gamble; ProQuest; Providian Financial; Prudential Insurance;
Quark; Qwest Comm.
Rainbow Technologies; Radio Shack; Rawlings Sporting Goods; Raytheon Aircraft; RCG Information Technology; Regence Group; Rogers; Rohm & Haas; RR Donnelley & Sons; Russell Corporation
Sabre; SAIC; Sallie Mae; Sanmina-SCI; SBC Comm.; SEI Investments; Siebel Systems; Sikorsky; SMC Networks; Solectron; Sovereign Bancorp; Sprint; Sprint PCS; Stanley Furniture; Stanley Works; Starkist Seafood; State Farm Insurance; State Street; StorageTek; StrategicPoint Investment Advisors; Sun Microsystems; SunTrust Banks; Supra Telecom; SurePrep; The Sutherland Group; Sykes Enterprises; Symbol Technologies; Synygy
Target; Tecumseh; Telcordia; Teleflex; TeleTech; Tellabs; Teradyne; Texas Inst.; Textron; Thrivent Financial for Lutherans; Time Warner; Tower Automotive; Toys "R" Us; Trans Union; Travelocity; Triquint Semiconductor; Tropical Sportswear; TRW Automotive; Tyco Electronics; Tyco Intl.
Union Pacific Railroad; Unisys; UnitedHealth Group Inc.; United Online; United Tech.; USAA
Valence Technology; VA Software; Veritas; Verizon; VF Corporation; Vishay
Wachovia Bank; Washington Group Intl.; Washington Mutual; WellChoice; Werner Co.; West Corporation; Weyerhaeuser; Whirlpool; Wolverine World Wide;
WorldCom; Wyeth