Saturday, July 2, 2011

A local look at 315 lives lost to the Great Depression V. 2.0

I've added this article from the local Pensacola News Journal as an example of how the Great Depression V. 2.0 is killing the life out of our economy, and our society.

It's the story of shuffling 315 people between two companies in order to avoid paying any severances. The master company, Clearwire - an entity that gives every impression of being near-bankrupt - and TeleTech, a sub-contractor who agreed to accept the 315 people Clearwire wanted off the payroll.

TeleTech announced it would take them, but in just one month, announced all 315 would be terminated. An obvious scam to get around the federal WARN Act, a toothless bit of feel-good legislation that some sold-out stooge of the ruling elite bragged about at re-election time.

I took this article as an opportunity to note that we are in The Great Depression Version 2.0, and we need to admit it.

See the article for how people are being destroyed in this economic disaster, and take a look at the following commentary to think about why, and what can be done to fix it.


The Great Depression Version 2.0 - it's time we began to deal with our economic realities admitting the truth about us being in a Depression.

Depressions are long-term events. That's why you hear the foolish talk about this being the upside of the now-ended Great Recession.

But the truth is that if you look at the Great Depression of the '30s, you'll find the same ups and downs. The economy doesn't just hit a certain level and stay there. It varies up and down; what makes it a Depression is that the long-term range of economic activity remains unacceptably low. Recessions are part of the Depression's long-term record.

In our local experience, we see in the Clearwire debacle the reality of the modern internationalism of the economy. The lesson here is simple: No owner is going to pay more for labor than absolutely necessary.

You can't beat the cheap overseas wages.

And if the CEO didn't go for those low-cost jobs, he or she would be unemployed by the Board in short order.

That's the Real World folks.

The real problem with our economy is that people are out of money. They've shut down the credit cards, the homes are being foreclosed, the cars and trucks are being repossessed, and the energy industry is celebrating with the finance industry the cold-blooded looting of our wallets.

When your economy is based on consumerism - 70% of ours is powered by your ability to purchase - then what you better do is figure out how to get money back into our hands.

We can't afford welfare - and we can't afford warfare. We can't shelter the Third World within our borders, and we can't continue to emulate the Roman Empire and bankrupt ourselves with endless wars.

End the "welfare enslavement" of urban America, and end the "foreign aid enslavement" of America's population.

Put the money back into our pockets, and we'll pop right back to prosperity.

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