[Info-vax] HP Cuts Salaries

[JF Mezei]

AEF wrote:

> Well, that's pretty damn good in today's economy! The only others I
> know that are making a profit are McDonald's, Walmart Mart, and some
> of the oil companies (I think at least one of oil companies recently
> posted a quarterly loss).


Wall Mart is actually the poster child of the massive problems caused to
the USA economy.

1- It offer lower prices by importing cheap knock offs from china,
thereby killing USA manufacturing jobs.

2- redued economic activity in the USA (due to imports) results is
lesser tax revenus which means USA govt has to borrow more.

3- By importing so much stuff from China, the USA has effectively
transfered all its wealth to china.

4- With china having all the money, China is now in a position where it
can buy USA bonds to save the USA govwernment, invest in USA banks to
help bail them out etc etc etc.


In essence, Wall Mart has caused the USA to lose its sovereignty and
wealth, just so people could save a buck when buying a shirt.

I use Wall Mart because it is the poster boy for this problem. But
any/all companies that have outsourced to india (and yes, HP that goes
for you too), they have cut wealth production in the USA and then
transfered wealth over to south east asia.

Don't be surprised if India's TATA motors ends up buying one of the USA
car firms, and a chinese car maker buying the other.


Same thing with oil. The refusal of the precious administration to raise
car standards and implement energy saving measures has resulted in
cosumption to continue to rise, sending oil prices to $140/bbl and as a
result, sending huge wads of USA cash to foreign countries, moving USA
wealth offshore, and it is now that offshore which can come in and
impose their conditions to help bail out the USA govt debts or save USA
corporations from collapse.