Bloomberg BusinessWeek
Edited from Bloomberg BusinessWeek for Sept 25, 2017:
Page 12: The dearth of wage increases is a serious problem for the global economy.... insufficient fiscal spending and excessive government spending ... Without fatter paychecks, the average household can't spend more, and that's bad for growth... Household incomes in the US jumped ... Yet, that is not because of wages ... median earnings of full-time workers didn't materially change in 2016 ... Americans are simply working more ... workers have been suffering for a long time... median weekly earnings ... a paltry 5.7% higher than a decade earlier.. . wage stagnation ... caused by globalization of the work force ... direct competition with workers in other countries, often with large differences in wage levels.... the long term trend is so disheartening ... (need) worker protection.
Page 44: As part of President Trump's crackdown on undocumented immigrants, ICE arrests spiked about 40% ... Labor groups ... by the union for collective bargaining agreements, a company would be restricted from letting ICE agents into the work place ... banned ... from checking their status using the voluntary E-Verify program.... It really seems like the antithesis of the purpose of a labor union, to protect the interests of labor. Normally you think of American labor.... labor unions ... organizing the growing ranks of immigrant workers became a do-or-die proposition for the shrinking unions... among union members, 37% voted for Trump despite union presidents' near-unanimous endorsements of Hillary Clinton.
My comments:
1. Globalization hurts the workers of countries with mature industrialized economies like the EU and the USA. The exception being Germany with 46% of its economy from exports. Germany, Merkel, loves globalization while the other countries get hurt.
2. American business leaders and union leaders both want more immigrants to the detriment of American citizen workers.
3. Union leadership and the Democrat party abandoned the American citizen worker to patronize immigrants.
4. Trump is the only voice today who represents the American citizen workers.
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