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Kevin Wolf

...and still able to connect to the U.S. market in real time.

This jumped out at me in addition to all you cite and discuss. You can connect to the US market pretty damn fast from here in the US. Just sayin.'

The middle class is being decimated, and its members seem to have no idea why, beyond the misleading ideas put in their heads by Fox News.

KC45s

The Boomers’ big mistake was trusting their future to a system...

I'd say the Boomers' big mistake was letting people talk to them like this guy ... and run the economy into the ground ... and game the aforementioned system ... and not go down to the newspaper office, the board room, and Wall Street and punch these a**holes in the face. (Still not enough but I don't want the FBI at my door.) Just me, though. And I'm sure I'll get my own chance soon enough.

actor212

Here's the problem with business reporters. It's not unlike sports reporters (oddly, LGM is having this discussion from the sports writer POV).

They get caught up in the subject they report on.

Business is a logical function of some pretty solid mathematical laws: for example, if you raise revenues, you raise profits, so long as you don't raise expenses. It really is an elegant model. It's very logical and very easy to explain.

This makes reporting on business a bit of a...well, boring thing. So you end up filling your articles not with analysis but with other people's opinions. All of whom nod and agree, yes, it's an elegant, logical thing.

Which completly ignores the fact that the vast majority of people aren't logical, and don't give a rat's ass about elegance, because they're just trying to feed their families. But you see, that's a story that can't be told easily in facts and numbers, unless the numbers are so overwhelming (25% unemployment, as an example) that even business can't ignore them or poo-poo them as...wait for it...a cost of doing business.

Business reporters ought to be consigned to writing obituaries the minute they take a CEO out to dinner.

actor212

@Kevin,

I used to work in commercial credit, so let me thrown in my two cents about "real time".

In the old days pre-email and Internet, international transactions that needed documentation required either a fax or Telex (usually called a Twix or a SWIFT-- which retains that moniker to this day in terms of money transfers). That meant you had a dedicated telex operator who would type up the order, let's say, and send it over to your factory in Southeast Asia, then wait for confirmation which also had to be typed and coded and then unencoded at the other end.

This discouraged CEOs from sending work overseas, because things get garbled, phone lines go down, delays happen that pile on top of shipping delays. Now, it's two clicks of a mouse and the CEO can rest assured that his million-dollar buy will be manufactured and delivered on the next boat.

Yea, same thing applies here, but what's happened is an obstacle to efficiency and oversight has been elminated, leaving one less rationale for retaining jobs here.

Rugosa

Well, yes, it is our own fault. Remember Reagan Democrats? I never voted for the old SOB, but more than enough of my contemporaries did. Unfortunately for our children, they are inheriting a world voted for by have-nots who thought Reagan and the right were going to keep the wrong people from getting government handouts. Reagan Democrats believed, without benefit of critical thinking, that cutting taxes and social welfare spending would bring prosperity for all.

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