Economic downturns are engineered by international financiers to bring down wages and asset values. Flooding the labour market with more workers increases competition in the labour market and the workers will have to accept lower wages if they want to keep their jobs. The big winners are: international financiers and multi-national companies. Tax payers funds are used to bail out businesses too big to fail time and time again.
Manufacturing and unskilled labour jobs are being outsourced to save companies money on labour costs. Semi-skilled labourers, professional jobs and skilled jobs can be carried out by cheaper Asian workers who will do the same job for one fifth of the pay. Asian countries have competitive advantage over the western world. Developed nations lose more jobs to developing nations which save companies on labour costs. The Asian markets are far more cost effective than expensive labour markets in the developed world.
Too many jobs are being outsourced by multi-national companies and there is very little the government can do about it. Making IR laws more flexible and reducing wages is the only way of keeping jobs in the country. Average people around the world are constantly getting screwed over by the evil banks and finance traders. No wonder lots of people do not trust banks.
Businesses too big to fail are constantly being bailed out by governments in the developed world during engineered economic downturns. These tax payer funded economic packages are going to lead to higher debt and the outsourcing of more jobs overseas to cheaper labour markets. No job and no industry is safe. Unskilled, semi-skilled and skilled professional jobs can be outsourced to cheaper labour markets and cost companies less in labour costs.
The multi-national companies should pay their own debts and fail instead of being bailed out. The multi-national companies and the banks are crying poor during and economic downturn so they can justify ripping off more tax payers. More jobs will be lost in the developed world to developing nations. The government will need to hide up the poor victims who are left to burn from every single corporate bail out.
BTW: The above is my opinion/view on economic downturns and the link with international financiers. Please feel free to argue for or against and discuss the subject matter.
