as someone who's lived through this 50-year period in non-finance private sector, I don't attribute decline of core industrial capacity primarily to Wall St, as opposed to broader social and cultural failure to value such industries, esp by academic and public sector elites
-
-
-
2/ a particularly pernicious mechanism has been enormous offshore (China) financing of public sector deficits. The other side of this coin was the huge trade surplus in manufactured goods, which put so many factories and companies out of business.
- 3 more replies
New conversation -
-
-
Remember that thing called a domestic economy?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
I think this can be more attributed to trade policy and the Chamber of Commerce than the Wall Street and “finance.” There is some overlap in that Venn diagram, but trade deserves more blame. Good column though.
-
Both. Am Chamber of Commerce didn't have to work with labor unions by outsourcing, labor savings increased profits, this increased stocks, Wall St happy. But financialization definitely had a very big role in all of this.
End of conversation
New conversation -
-
-
Key to this financialization are stock buybacks - not legal 30 years ago. If a CEO buys back shares then over time he can fairly easily guarantee a price/share increase. He can't as easily guarantee this price/share increase by investing in his own company.
-
And of course CEO pay is tied to price/share, making the incentive to buy back shares, rather than invest in the company, even more perverse.
End of conversation
New conversation -
-
This Tweet is unavailable.
-
-
What did Mao say about selling the capitalists the rope by which they will hang?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
How are we supposed to supply basic items to our military with a budget of only a trillion dollars a year?!?! get with the program Tracey!
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Nah, this is a tangent and couldn’t be further from the truth. In fact, the practice this article is suggesting, and it is a suggestion without connectivity to what happens, is a violation of strict federal acquisition regulation.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
When manuf. & war profiteer halves of world collide. Americans expect rules don’t apply to them, in part due to never paying consequences of war— why war mongering w/ Iran is perilous. We can’t imagine being isolated / sanctioned by rest of the world. China doesn’t really need us
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Reading this and other articles, it seems that the Pentagon's preference for smaller numbers of highly advanced weapons e.g. the F-35 has created a death spiral of higher costs and fewer suppliers. Fine with me.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Trusting a nations defence to the corporate mic is insane ..they are only interested in high volume sales and pocket lining for the 0.01%. Do like Russia did keep it in house
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
What isn't made in China, these days?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Very good article: “The national ability to produce is a national treasure. If you can’t produce you won’t consume, and you can’t defend yourself.” I think destroying the USA is a strategic goal for a New World Order with China as a role model.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
It's also (sort of) a really simple way to get in touch with mehttp://www.linkedin.com/in/financetize
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
china wins
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
> “hollowed out the US defense industrial sector” The war machine ought to be dismantled. Humanity is waking up.
#EndAllWarspic.twitter.com/7YgZ3NS3O2
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Isn’t Congress a fantastic group of patriots?! It’s a shame that the backs of middle class Americans are continually burdened by the federal government to support its obesity while it irresponsibly spends our tax dollars abroad and does virtually nothing for those American$
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.