Chris Hedges: Karl Marx Was Right - Chris Hedges - Truthdig

[Jerome Park]

The on-shored jobs from the so-called manufacturing renaissance in America
is something to keep an eye on. How many of these jobs that left America to
find cheap workers and avoid  regulations on the environment, taxes,
utility costs...are now returning to automated factories? And China too is
building huge automated plants. The glut of commodities, mostly from
production and productivity gains made during the boom continues unabated,
even in oil, as America drives down costs with new and improved
technologies that bring up WTI at $30, now looks like a reverse of the
so-called super cycle, a BRIC driven cycle that lasted a not so super 10
years. The reverse cycle may be truly super and may last decades, driving
wages down and forcing workers to work forever. The politicians pander.
Germany tick down the retiree for a bit, Greece will have to raise its, but
in the end, a so-called early retirement will become a thing of the past.
Where will the pensions find safe yield? They won't, as interest rates will
not respond to QE or any other central bank maneuver to inflate late
capital. Financial repression does help the poor, the indebted, and it
obviously helps those who have inflated assets, stocks, but it squeezes the
worker in a vice. China is the key right now. How the US and China work
together is the key. And China wants to lifts its poor, still 90% of the
people, and that means the developed worker will have to work more for
less. It's that simple. Then there is India....

Certainly good news for the poor, especially in countries like Brasil,
where the workers party has been in power for 12 years and, despite the
headlines and protests by the new "middle class", have the support of the
poor, who now vote.

Not good news for the developed worker, who will bleed on the edge of a
brave new world.

On Wed, Jun 3, 2015 at 6:41 AM, Mark Kohut <mark.kohut at gmail.com> wrote:

> Yeah, we Old World Privileged have to export commas and other
> entertainment while real workers have to be replaced
> by 'coolies'. (Just read about how global deflation has been
> exacerbated because of a non-stop glut of cheaply-made
> Chinese goods.)
>
> This too is in Against the Day.
>
> What a world, what a world.
>
> On Wed, Jun 3, 2015 at 5:55 AM, Jerome Park <jeromepark3141 at gmail.com>
> wrote:
> > Loved The Wire. Hope you all have been checking in on The Roosevelts on
> your
> > public television station.
> >
> > The Big Force that most Marxist diagnosticians are ignoring is China. The
> > elephant in the room is China. The Capitalists know it. It's not the
> BRICs,
> > though these so-called emerging economies are a big enough force, but
> It's
> > China & Capital that are deflating the global economy and driving labor
> into
> > slavery. There is no solution in the short term and in the long run we
> are
> > all dead. And I'm an optimist. This is about as good as it gets fro
> workers
> > in our lifetimes folks. Get used to it.
> >
> >>
> >>
> >>
> >
>
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