Will There Be Any Jobs Left In America?
Large corporations are abandoning the US. I work for IBM. Here is a snapshot of IBM's US headcount:
2010 98,000 estimate
These are all good paying jobs that can support a family and pay taxes.
Today, 75% of the total headcount is overseas. The overseas revenue is 65%. The company reported record profits last year. IBM decided to stop reporting their US headcount this year.
You know that many companies are moving their resources overseas. China is the new spot to build development centers. These incremental loses are adding up. But the saddest thing is that they are giving away the building blocks for innovation.
I just read a few weeks ago the Applied Material is planning to replace their US research center for a new one in China. That is another example of what is going on.
And no venture capitalist would attempt to build a solar panel factory from scratch in the US. The costs and the EPA will prevent that.
Please tell this story.
Sign me: Just Another Voice in The Dark
From Mish's Blog....
IBM has reduced its American workforce by almost 40% in the past five years. Unemployment among architects is over 60%. New home construction is down 80% in the past few years. Commercial consturction has come to a grinding halt. New car sales are down around 50%.
With fewer and fewer Americans working, tax receipts to government are evaporating.
YET GOVERNMENT WORKERS ARE GETTING RAISES???????
YOU HAVE BEEN WARNED....pretty soon, there will be so few Americans working at a living wage....that the system as we know it will collapse.