The trouble with reaching 50 is that it enables one to have a personal view of the paradigm shift that has overwhelmed America and its economics. It was not that long ago in the scheme of things that “imported” usually held the connotation that the item was a special, to be coveted item. The phrase “made in” was universally seen as cheap junk and trinkets from Hong Kong or India.
Today it is estimated that over 60% of our consumer goods are manufactured abroad. I doubt that this figure includes the American produced goods that are assembled from materials and components made elsewhere. The rationale given by producers is that these sort of production systems make items more affordable for the consumer, and meet demand for the product.
The reality is that much of the demand is artificial due to marketing and an artificially suppressed price tag due to cheap foreign labor. We as citizens are convinced to buy cheaply made disposable goods—all in the name of profit for the corporations that funnel them to the retail market. So, let’s all roundly boo the big bad corporation.
Incredibly enough this control is largely financed by debt—borrowing against other debt financed ventures to keep it afloat. This economic house of cards bears a remarkable resemblance to a legal Ponzi scheme.”
Bashing the company is a pastime that has its roots in the 20th century labor movement, but now is little more than a shadow of the meaning behind the original stereotype. Consumers conveniently forget that old John D. and his ilk are long gone and the real control of a corporation and its course are now completely held hostage by the power of its stockholders. Incredibly enough this control is largely financed by debt—borrowing against other debt financed ventures to keep it afloat. This economic house of cards bears a remarkable resemblance to a legal Ponzi scheme. Continue reading “America For Sale” »