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Common Dreams reports:
In yet another reminder of how corporate-friendly the Trump administration has been—despite campaign pledges to defend American workers and "buy American, hire American" rhetoric—a new study out [April 25] reveals that the president continues to reward U.S. companies who ship jobs overseas.
According to the analysis (pdf), conducted by Good Jobs Nation along with Public Citizen's Global Trade Watch, "the flow of federal contract awards to major offshorers has continued unabated since Trump's inauguration."
The outsourcing of American jobs to other countries is a major issue for American voters, and helped propel President Donald Trump's victory in a number of economically distressed rust-belt states.
Despite this, as many as "56 percent of the top U.S. firms awarded the largest taxpayer-funded contracts in fiscal year (FY) 2016 engage in offshoring", the report notes. Further, 41 of the top 100 federal contractors--which in 2016 received a combined $176 billion in taxpayer dollars--have shipped jobs overseas and "many continue to do so today".
[...] "Even though he's signed over 60 executive orders during his first 100 days, he has yet to use the power of the pen to stop corporations that receive taxpayer dollars from shipping American jobs overseas", said Joseph Geevarghese, director of Good Jobs Nation.
(Score: 2) by ikanreed on Wednesday April 26 2017, @08:30PM (14 children)
I'm gonna blow your mind here, but it's been a decade since the last one. Lehman was mid-fucking '07. Big crash was late '08.
The one before that was dotcom in '00, and before that was savings and loan in like... 90? 91? I was too young for it. But we're duuuuuue.
(Score: 2) by kaszz on Wednesday April 26 2017, @08:39PM (10 children)
What do you think will set it of this time?
Over priced stocks?
Saving and loans?
Specific sector bubble?
Financial services firm?
Economic depressions are great because then you can buy many assets cheaply.
Oh well.. if you got money..
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @08:46PM
Uber fires all the drivers.
(Score: 4, Interesting) by ikanreed on Wednesday April 26 2017, @09:06PM (3 children)
I told you the two big ones I had my eye on: Silicon Valley(we learned nothing from dotcom, nothing) bullshit startup speculation, and the fact that we're riding a wave of overproduction from OPEC that's going to end soon.
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @09:09PM
We learned two things from dotcom: Open Source is free labor! and Cloud scale means we can build it bigger!
(Score: 2) by kaszz on Wednesday April 26 2017, @09:55PM (1 child)
So a stock market downturn but how bad? and high oil prices soon then?
Any idea on how soon this will occur?
I know it's all probability so it's hard to make deterministic answers.
(Score: 0) by Anonymous Coward on Thursday April 27 2017, @03:39PM
The ground hog DOES see his shadow
(Score: 2) by Phoenix666 on Wednesday April 26 2017, @09:39PM (4 children)
Student loan bubble bursts.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @09:54PM (3 children)
The education industry hasn't imploded yet? Students are young and naive as ever.
(Score: 2) by kaszz on Wednesday April 26 2017, @10:00PM (2 children)
Ah they will sue the university if the compiler dears to output a ERROR which will break their safe space? ;-)
But then employers don't need anyone. They can just google all of it! :p
Let's hope the naivety is limited to non-STEM subjects.
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @10:08PM (1 child)
Python coders love their safe spaces.
(Score: 2) by kaszz on Wednesday April 26 2017, @10:12PM
Is it that indentation nazigrammar that gives them a hardon? ;-)
(Score: 1, Insightful) by Anonymous Coward on Wednesday April 26 2017, @08:43PM (2 children)
Sure technically the recession ended but it was a jobless recovery. Employment seems high only if you deliberately neglect to count the permanently unemployed who don't participate since the economy just doesn't need as many employed people anymore. If you look at the state of the workforce today, the Great Recession is ongoing. It's the entire decade of 2007-2017 much like the Great Depression was the entire 1930s.
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @09:11PM (1 child)
Jobs for all! Build a wall!
(Score: 2) by bob_super on Wednesday April 26 2017, @09:43PM
That's the plan. Still a repeat of the 1930s
1) Have the Hugest War
2) Wait up to 16 years
3) Build wall to divide people