Forum Post: Jobs are becoming obsolete because it is more profitable to make money on money than it is to make money on labor.
Posted 12 years ago on Dec. 2, 2011, 5:01 a.m. EST by warriorjoe7
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Jobs are becoming obsolete because it is more profitable to make money on money than it is to make money on labor.
well unlessthe labor is children working in sweatshops for $1 a day
Just Say No To Financial Products
The undesirable result is that the value of money declines because there is nothing physical backing money made from money. Money backed by physical substance has more value. The stuff should be cars, oil, coal, gold, or anything made in the USA.
The USA invented great stuff that changed the world then outsourced its manufacture to cut labor costs rather than keeping their manufacture in the country: airplanes, telephones, televisions, computers, transistors, Internet, PCs, biotechnology, GPS, and more.
Housing Market and Economic Crisis Explained
https://www.youtube.com/watch?v=45h6E-CyvLQ
Mayor Bloomberg - Mayor in Conflict
https://www.youtube.com/watch?v=Ijg-ekd_EY0
Mike Bloomberg's fortune grew from $4 billion to over $30 billion during his 3 terms as Mayor of NYC through 88% ownership of Bloomberg LP and sales of the profitable Bloomberg Terminal.
The Bloomberg Terminal was invented in 1981. Here Bloomberg's wealth is backed by Bloomberg Terminals. The Financial Industry may not be able to explain how the Bloomberg Terminal is helping them make money. The Housing Bubble was backed by fraud. If Bloomberg Terminal works then why are economic bubbles still being created? Why is Federal Reserve engaging in Quantitative Easing still necessary? Why is insider trading still occurring? If the top tier financial management understood the exotic models why are we still on the edge teetering on a recurring recession?
It would be better if the decline in the price of products was the objective instead of the ever increasing price spiraling upward.
China is making so much of our stuff we have less physical substance made in the United States backing the US dollars, this means more made money is available to increase the price of stuff because there is less stuff than there should be with so much money in circulation floating around without having to pay fair labor costs that would be injected into the economy buying stuff workers want.
Absolutely correct. A lot of money is collecting interest in vaults instead of paying salaries and wages for building things here in America. The big Banks and Government are interested in making money not building a great country. Interest rates on savings used to be higher than 7% when Reagan was President. Now interest rates are less than 1% on savings accounts.
Savings Calculator
http://johnawman.com/SavingsCalculator/SavingsCalculatord.htm [right click]
Banks used TARP noney to speculate on foreign currency instead of lending money to Main St.
Michael Hudson on Currency Wars http://www.democracynow.org/2010/11/5/new_600b_fed_stimulus_fuels_fears [right click]
1% says how much our money is worth these days; one gets nothing for it.
but notice how the price of toilet paper is going up.
Or slave labor. How many millions of slaves are there? Inflation created by the Fed creating billion$, makes the risk of production less attractive than poker with a stacked deck.
Publicly owned corporations, the stock market, and other forms of pure wealth extraction, of which no value is added.... this includes many insurance businesses and various other "middle men" industries, should be abolished.
some people can make money by investing moneys, they are called bankers and they are the problem that OWS should focus on
nationalize the banks http://www.youtube.com/watch?v=iKRKZqdgBXg&feature=related
well unlessthe labor is children working in sweatshops for $1 a day
http://www.youtube.com/watch?v=4Z9WVZddH9w
If that were true, companies would shut down and the bosses would just invest their money. Most rich people like Bill Gates made money with products.
Actually the clothing company I worked for did shut down due to cheep Chinese imports and I decided to learn stock trading because there was more money doing that than using a skill I spent 25 years learning. The up side of it was when the banks crashed I knew enough about the market to really understand what has happened. I really do think it's disgusting that America's best and brightest end up on wall street making bizarre derivative self destructing products and computer programs that steal nickles and dime out of the middles class's 401k's day after day. I do see a place for wall street but it shouldn't be in our banking system or at the fed window borrowing money to bet with. 7 trillion in fed loans to cover bad bets 7 trillion