China

China Trade Deficit Has Cost the United States 3.2 Million Jobs

If anyone believes offshore outsourcing jobs is passé and not impacting U.S. labor markets think again.  The Economic Policy Institute has published a new study showing America has lost millions of jobs to China's cheap labor market.  From 2001 to 2013, the massive trade deficit with China has cost the United States 3.2 million jobs.

How to Create 5.8 Million Jobs Pronto - Stop Currency Manipulation

Want to know how to create up to 5.8 million jobs in three years?  End currency manipulation.  So says a new study released from the Economic Policy Institute.  If currency manipulation was stopped, the U.S. trade deficit would shrink by up to $500 billion in three years, annual GDP would increase up to $720 billion, the federal budget deficit would be reduced by $100 billion each year and 40% of the new jobs created would be in manufacturing.

Manufacturing Matters

On Manufacturing and Innovation

Manufacturing was once widely recognized as the outstanding strength of America and the basis of its prosperity, but manufacturing also has a more recent history of being almost a pariah.  This newer view equated computer chips with potato chips, asserted that manufacturing is better left to others, and suggested that the nation is actually fortunate to be losing manufacturing and aiming to replace it with design, research, and services.

The Fiscal Cliff Hoax - Our Collapsing Economy and Currency

fiscal cliffOriginally published by Institute for Political Economy

Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used.

The fiscal cliff is the result of the inability to close the federal budget deficit. The budget deficit cannot be closed because large numbers of US middle class jobs and the GDP and tax base associated with them have been moved offshore, thus reducing federal revenues. The fiscal cliff cannot be closed because of the unfunded liabilities of eleven years of US-initiated wars against a half dozen Muslim countries–wars that have benefited only the profits of the military/security complex and the territorial ambitions of Israel. The budget deficit cannot be closed, because economic policy is focused only on saving banks that wrongful financial deregulation allowed to speculate, to merge, and to become too big to fail, thus requiring public subsidies that vastly dwarf the totality of US welfare spending.

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