The amazing thing is that the neocons have actually convinced the American middle class to side with corporations who act consistently against the economic interest of the American Middle class.
It's a double-edge sword. Corps that relocate operations overseas, outsource to India, or, like Walmart, use low-cost foreign suppliers for their merchandise, do indeed undermine US jobs, but they also increase the buying power of the US consumer. And the buying power of the US consumer is what drives the world economy. Otherwise, why would all those foreign banks be converting their dollars into US treasury bonds, praying it all stays afloat, staving off worldwide depression? On the other hand, every time a new Walmart opens, the local economy is depressed because they undersell everyone else, driving wages down wherever they go, while they use every slick trick to prevent their employees from organizing. It's musical chairs. At some point, when consumer spending takes a dip, when foreign banks start selling US treasuries, when interest start going up again, the music is gonna stop. |
