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  • Pain From Free Trade Spurs Second Thoughts
    The original Industrial Revolution the move from farm to factory unquestionably boosted living standards but triggered an enormous change in how and where people lived how they educated their children the organization of businesses the form and practices of governments He says today s trickle of jobs overseas where they are tethered to the U S by fiber optic cables is the beginning of a change of similar dimensions and American society needs similarly far reaching changes to cope I m trying to convince a bunch of economists who are deeply skeptical and hard to convince he says Mr Blinder 61 years old a Princeton college graduate with a Ph D from Massachusetts Institute of Technology has been on the Princeton faculty since 1971 He is known for his work on macroeconomics and a liberal bent captured by the title of a 1987 book Hard Heads Soft Hearts Tough Minded Economics for a Just Society When he talked about trade in the past Mr Blinder emphasized its great benefits His undergraduate economics textbook first published in 1979 says the facts are not consistent with the popular notion that cheap foreign labor steals jobs from Americans and puts pressure on U S businesses to lower wages When Mr Blinder went to Washington in 1993 to join President Clinton s Council of Economic Advisers he became even more convinced of the benefits of free trade He saw steel aluminum and farming lobbyists fight for export subsidies or protection from imports and then passing the costs to consumers I came out a much more radical free trader than I went in he says As a Clinton aide he helped sell the North American Free Trade Agreement with Mexico and Canada although he says he disagreed with the administration pitch that it would create jobs in U S Economic theory teaches that trade changes the types of jobs in an economy not the overall number But he bowed to Mr Clinton s political savvy If he had left the salesmanship to me Nafta would have failed he says Mr Blinder left the White House after 18 months for the Fed in 1994 and immediately was mentioned as a possible successor to Alan Greenspan He left in 1996 and returned to Princeton where he still teaches introductory economics Six years ago he cashed in on his prominence by joining former Clinton banking regulator Eugene Ludwig in a firm that advises troubled banks and another that deciphers the Fed and other central bankers for a hefty price At Princeton he began to reassess some of his views on trade Visiting the yearly business gabfest in Davos Switzerland in January 2004 he heard executives talk excitedly about moving jobs overseas that not long ago seemed anchored in the U S He was silent when his former Princeton student N Gregory Mankiw then chairman of President Bush s Council of Economic Advisers unleashed a political firestorm by reciting standard theory but appearing indifferent to pain caused to those

    Original URL path: http://www.911omissionreport.com/free_trade_spurs_second_thoughts.html (2016-02-14)
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  • Where are the jobs? For many companies, overseas
    Meanwhile consumer demand in the U S has been subdued Despite a strong holiday shopping season Americans are still spending 3 percent less than before the recession on essential items like clothing and more than 10 percent less on jewelry furniture electronics and big appliances according to MasterCard s SpendingPulse Companies will go where there are fast growing markets and big profits says Jeffrey Sachs globalization expert and economist at Columbia University What s changed is that companies today are getting top talent in emerging economies and the U S has to really watch out With the future looking brighter overseas companies are building there too Caterpillar maker of the signature yellow bulldozers and tractors has invested in three new plants in China in just the last two months to design and manufacture equipment The decision is based on demand Asia Pacific sales soared 38 percent in the first nine months of the year compared with 16 percent in the U S Caterpillar stock is up 65 percent this year There is a shift in economic power that s going on and will continue China just became the world s second largest economy says David Wyss chief economist at Standard Poor s who notes that half of the revenue for companies in the S P 500 in the last couple of years has come from outside the U S Take the example of DuPont which wowed the world in 1938 with nylon stockings Known as one of the most innovative American companies of the 20th century DuPont now sells less than a third of its products in the U S In the first nine months of this year sales to the Asia Pacific region grew 50 percent triple the U S rate Its stock is up 47 percent this year DuPont s work force reflects the shift in its growth In a presentation on emerging markets the company said its number of employees in the U S shrank by 9 percent between January 2005 and October 2009 In the same period its work force grew 54 percent in the Asia Pacific countries We are a global player out to succeed in any geography where we participate in says Thomas M Connelly chief innovation officer at DuPont We want our resources close to where our customers are to tailor products to their needs While most of DuPont s research labs are still stateside Connelly says he s impressed with the company s overseas talent The company opened a large research facility in Hyderabad India in 2008 A key factor behind this runaway international growth is the rise of the middle class in these emerging countries By 2015 for the first time the number of consumers in Asia s middle class will equal those in Europe and North America combined All of the growth over the next 10 years is happening in Asia says Homi Kharas a senior fellow at the Brookings Institute and formerly the World Bank s chief economist for

    Original URL path: http://www.911omissionreport.com/where_are_jobs.html (2016-02-14)
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  • U.S. Approved Business With Blacklisted Nations
    that attended its passage the 2000 law allowing agricultural and medical exceptions to sanctions was ultimately the product of economic stress and political pressure American farmers facing sharp declines in commodity prices and exports hoped to offset their losses with sales to blacklisted countries The law defined allowable agricultural exports as any product on a list maintained by the Agriculture Department which went beyond traditional humanitarian aid like seed and grain and included products like beer soda utility poles and more loosely defined categories of food commodities and food additives Even before the law s final passage companies and their lobbyists inundated the licensing office with claims that their products fit the bill Take for instance chewing gum sold in a number of blacklisted countries by Mars Inc which owns Wrigley s We debated that one for a month Was it food Did it have nutritional value We concluded it did Hal Eren a former senior sanctions adviser at the licensing office recalled before pausing and conceding We were probably rolled on that issue by outside forces While Cuba was the primary focus of the initial legislative push Iran with its relative wealth and large population was also a promising prospect American exports virtually nonexistent before the law s passage have totaled more than 1 7 billion since In response to questions for this article companies argued that they were operating in full accordance with American law Henry Lapidos export manager for the American Pop Corn Company acknowledged that calling the Jolly Time popcorn he sold in Sudan and Iran a humanitarian good was pushing the envelope though he did give it a try It depends on how you look at it popcorn has fibers which are helpful to the digestive system he explained before switching to a different tack What s the harm he asked adding that he didn t think Iranian soldiers would be taking microwavable popcorn to war Even the sale of benign goods can benefit bad actors though which is why the licensing office and State Department are required to check the purchasers of humanitarian aid products for links to terrorism But that does not always happen In its application to sell salt substitutes marinades food colorings and cake sprinkles in Iran McCormick Co listed a number of chain stores that planned to buy its products A quick check of the Web site of one store Refah revealed that its major investors were banks on an American blacklist The government of Tehran owns Shahrvand another store listed in the license A third chain store Ghods draws many top officials from the Islamic Revolutionary Guards Corps which the United States considers a terrorist organization The licensing office s director Mr Szubin said that given his limited resources they were better spent on stopping weapons technology from reaching Iran Even if the connections in the McCormick case had come to light he said he still might have had to approve the license the law requires him to do

    Original URL path: http://www.911omissionreport.com/blacklisted_nations.html (2016-02-14)
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  • Return of outsourced jobs not good for US: Obama
    t be good for our economy for a bunch of these jobs to come back because frankly there s no way that people could be getting paid a living wage on some of these jobs at least in order to be competitive in an international setting The online meeting a new take on President Franklin Roosevelt s fireside chats was streamed on the Internet from WhiteHouse gov Obama said a lot of the outsourcing has to do with the fact that our economy if it s dependent on low wage low skill labour it s very hard to hang on to those jobs because there s always a country out there that pays lower wages than the US And so we ve got to go after the high skill high wage jobs of the future he said That s why it s so important to train our folks more effectively and that s why it s so important for us to find new industries building solar panels or wind turbines or the new biofuel that involve these higher value higher skill higher paying jobs So what we ve got to do is create new jobs that can t be outsourced

    Original URL path: http://www.911omissionreport.com/obama_outsource_good.html (2016-02-14)
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  • US firms offshore 22,000 green jobs to India
    Report an annual industry study conducted by Brown Wilson Group found that green technology jobs are being created faster in India than in the US since Obama took office The report which was released two weeks ago surveyed 4 000 businesses around the world including Xerox Accenture IBM Global CSC Capgemini Oracle HP ED S Aramark SITEL and Perot Doug Brown co author of the Green Outsourcing Report told The New Indian Express We see the green job offshoring trend increasing There are few suppliers who match credentials and outcomes of Indian firms Soaring energy costs and regulatory pressure have put pressure on firms in the US and Europe to embrace green technologies 84 of companies outsourcing green jobs are doing so because of skyrocketing energy costs compared to 12 and 18 in the past few years respectively Most corporations seeking to outsource a service or product require impeccable green credentials in their suppliers before handing over work the report says US corporations focusing on survival strategies during the long lasting recession have offshored more than 22 000 new green collar jobs to India alone Firms seeking stabilized energy and labor costs while trying to convince consumers of their eco

    Original URL path: http://www.911omissionreport.com/green_jobs_india.html (2016-02-14)
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  • U.S. To Train 3,000 Offshore IT Workers
    outsourcing and call center support USAID will also help the trainees brush up on their English language proficiency USAID is contributing about 10 million to the effort while its private partners are investing roughly 26 million To help fill workforce gaps in BPO and IT USAID is teaming up with leading BPO and IT English language training companies to establish professional IT and English skills development training centers the U S Embassy in Colombo Sri Lanka said in a statement posted Friday on its Web site Courses in Business Process Outsourcing Enterprise Java and English Language Skills will be offered at no charge to over 3 000 under and unemployed students who will then participate in on the job training schemes with private firms the embassy said USAID is also partnering with Sri Lankan companies in other industries including construction and garment manufacturing to help create 10 000 new jobs in the country which is still recovering from a 30 year civil war that ended in 2009 But it s the outsourcing program that s sure to draw the most fire from critics While Obama acknowledged that occupations such as garment making don t add much value to the U S economy he argued relentlessly during his presidential run that lawmakers needed to do more to keep hi tech jobs in IT biological sciences and green energy in the country He also accused the Bush administration of creating tax loopholes that made it easier for U S companies to place work offshore in low cost countries As recently as Monday Obama speaking at a Democratic fundraiser in Atlanta boasted about his efforts to reduce offshoring The President said he s implemented a plan that s focused on making our middle class more secure and our country more competitive in the

    Original URL path: http://www.911omissionreport.com/3000_offshore_workers.html (2016-02-14)
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  • Food Stamps Create Jobs...in India
    of Columbia It also provides child support debit cards in 15 states and unemployment insurance cards in seven states The 130 000 food stamp families in West Virginia have their calls routed to India according to Jerry Luck program director for the state We have no complaints with the call center We get very good service he said I was born and raised in Pittsburgh There s sometimes a communication issue between somebody from Pittsburg and somebody from Harrisburg Pa The state s contract with JP Morgan expires on Aug 31 In requests for a new contract West Virginia has requested a domestic call center because of political concerns The 488 000 households in Tennessee also have their calls sent to JP Morgan call centers in India The state s contract runs through February 2012 and there are currently no plans to change it according to Michelle Mowery Johnson director of communications for state s Department of Human Services She noted that there are no federal or Tennessee state laws prohibiting the outsourcing call center operations Unemployment in West Virginia is now 6 9 percent and 9 6 percent in Tennessee Other states struggled to answer questions about their call center locations Who would have ever thought it would be such a difficult question to answer said Amy Kempe spokeswoman for the governor s office in Rhode Island She eventually learned that JP Morgan was sending the state s food stamps calls to India but now keeps them all domestically Kempe later told ABC News however that JP Morgan was still routing calls for unemployment benefits to India Unemployment in Rhode Island now stands at 10 5 percent Following a congressional mandate in 1996 states started moving toward electronic delivery of food stamp benefits now called Electronic Benefit Transfer or EBT States Save by Outsourcing States found it cheaper to outsource these services By switching to debit cards for food stamps and other benefits states save millions of dollars in processing and administrative fees Companies including JP Morgan filled the niche For a fee the bank will provide debit cards to benefit recipients Each month they will load money onto the cards and on a daily basis process transactions at stores For unemployment insurance the providers also process ATM cash withdrawals For instance in Michigan JP Morgan allows unemployment recipients two free withdrawals from its network of ATMs For each addition withdrawal the bank takes a 1 50 fee If somebody loses their card the first replacement is free The second costs 7 50 The banks also get a fee for each case they handle Take Indiana JP Morgan gets 62 to 64 cents for each food stamp case handled monthly there With 296 245 cases right now that means the state is paying JP Morgan 183 672 a month on top of any other fees it collects Indiana eliminated 100 full time employees when it hired JP Morgan to make the program cost neutral according to Marcus Barlow spokesman

    Original URL path: http://www.911omissionreport.com/food_stamps_india.html (2016-02-14)
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  • 'Nine in 10 UK jobs go to foreigners'
    were born outside the UK according to the Office for National Statistics The figures have been uncovered by a former Labour minister who is urging the Government to urgently restrict immigration from eastern Europe to help young Britons gain employment Frank Field the former welfare minister said that since 1997 the number of skilled Britons in the workplace those with a National Vocational Qualification at level two as a minimum had increased by 2 8 million However there had been only a 310 000 net increase in the number of Britons in work in that time and the number had actually dropped since 2003 after mass immigration from eastern Europe Mr Field said yesterday What the Government needs to do is face up to the fact that we need to restrict the movement of labour from eastern Europe We had the ability to do that but now we would need to ask the European Commission for permission And the Government seems unwilling to do that Controversy over the employment of foreign born workers has increased since Mr Brown pledged to create British jobs for British workers last summer After initially publishing incorrect data last autumn the Government was forced to

    Original URL path: http://www.911omissionreport.com/nine_in_10_uk_jobs.html (2016-02-14)
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