Archive for July, 2010

Middle Class Under Siege

July 24th, 2010

I have long pointed out in this blog and newsletter that the moving of factories abroad has put our middle class under intense pressure by taking away those good manufacturing jobs.

Here is an interesting article from The Business Insider backing up that position somewhat:^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA

However, his points about the American worker’s expense miss the boat on the other key reasons the playing field is not level with China, etc.. Those include foreign government protection, unsafe products and working conditions abroad, China’s currency manipulation, foreign company’s lack of being liable for safety or patent infringement issues, etc.

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