The system is broken.
In the last two decades, there has been a significant rise of income inequality, with the middle class and low-skilled workers (Workers without college degrees), being dealt a heavy blow. As China, Mexico etc. are low-wage countries (Relative to the U.S. and Canada), production of goods once made in the U.S. have moved, and then exported to the U.S. for sale. In fact, manufacturing exports to Mexico and Canada grew at less than half the rate after NAFTA than in the years before it.
Corporations promised they would create more factories under NAFTA but instead have fired U.S. workers and shifted production to Mexico. Data shows that more than 525,000 workers have lost work to offshoring under NAFTA. This has created downward pressure on middle- class wages as U.S. workers need to compete with low-wage workers in Mexico. Additionally, 66% of displaced manufacturing workers who were rehired saw wage reductions of 20% or more. Perhaps the most damning piece of evidence is that the average U.S. wage has grown less than 1% annually even as productivity grew at 3%. As a result, the share of national income collected by the richest 10% has risen by 24%, while the top 1% has risen by 58% since NAFTA.
As people face greater scarcity, executive functions decline. Racism and sexism will actually start to increase.
Originally posted by Surtur
low life thugs ceasing the rioting could help quell anger
Someone mentioned something that blew my mind. Why do we not riot and loot? We have a social contract. That’s ultimately what society is right? A social contract. That’s why you get a pit in your stomach when they do loot. It’s why I do too. They’re breaking our norms.
But now I ask myself, why shouldn’t they? If systemically, society has been breaking that contract and been failing you, why shouldn’t you loot a target? I don’t blame them tbh, people who have nothing better to look forward to, no future prospects have nothing to risk losing.
And tbh, there’s far worse looting going on:
https://www.bnnbloomberg.ca/private-equity-lands-billion-dollar-backdoor-hospital-bailout-1.1444295
The worst criminals went to Ivy League and wear suits. I speak as someone in banking. I’m actively recruiting for PE right now, but will avoid predatory buy out funds like KKR and focus more on distressed debt shops like Oaktree.
Originally posted by Rage.Of.Olympus
The system is broken.In the last two decades, there has been a significant rise of income inequality, with the middle class and low-skilled workers (Workers without college degrees), being dealt a heavy blow. As China, Mexico etc. are low-wage countries (Relative to the U.S. and Canada), production of goods once made in the U.S. have moved, and then exported to the U.S. for sale. In fact, manufacturing exports to Mexico and Canada grew at less than half the rate after NAFTA than in the years before it.
Corporations promised they would create more factories under NAFTA but instead have fired U.S. workers and shifted production to Mexico. Data shows that more than 525,000 workers have lost work to offshoring under NAFTA. This has created downward pressure on middle- class wages as U.S. workers need to compete with low-wage workers in Mexico. Additionally, 66% of displaced manufacturing workers who were rehired saw wage reductions of 20% or more. Perhaps the most damning piece of evidence is that the average U.S. wage has grown less than 1% annually even as productivity grew at 3%. As a result, the share of national income collected by the richest 10% has risen by 24%, while the top 1% has risen by 58% since NAFTA.
As people face greater scarcity, executive functions decline. Racism and sexism will actually start to increase.
Originally posted by Rage.Of.Olympus
Someone mentioned something that blew my mind. Why do we not riot and loot? We have a social contract. That’s ultimately what society is right? A social contract. That’s why you get a pit in your stomach when they do loot. It’s why I do too. They’re breaking our norms.But now I ask myself, why shouldn’t they? If systemically, society has been breaking that contract and been failing you, why shouldn’t you loot a target? I don’t blame them tbh, people who have nothing better to look forward to, no future prospects have nothing to risk losing.
And tbh, there’s far worse looting going on:
https://www.bnnbloomberg.ca/private-equity-lands-billion-dollar-backdoor-hospital-bailout-1.1444295The worst criminals went to Ivy League and wear suits. I speak as someone in banking. I’m actively recruiting for PE right now, but will avoid predatory buy out funds like KKR and focus more on distressed debt shops like Oaktree.
Very good posts, I think you are spot on about the economic causes of all these problems.
Originally posted by Rage.Of.Olympus
Someone mentioned something that blew my mind. Why do we not riot and loot? We have a social contract. That’s ultimately what society is right? A social contract. That’s why you get a pit in your stomach when they do loot. It’s why I do too. They’re breaking our norms.But now I ask myself, why shouldn’t they? If systemically, society has been breaking that contract and been failing you, why shouldn’t you loot a target? I don’t blame them tbh, people who have nothing better to look forward to, no future prospects have nothing to risk losing.
And tbh, there’s far worse looting going on:
https://www.bnnbloomberg.ca/private-equity-lands-billion-dollar-backdoor-hospital-bailout-1.1444295The worst criminals went to Ivy League and wear suits. I speak as someone in banking. I’m actively recruiting for PE right now, but will avoid predatory buy out funds like KKR and focus more on distressed debt shops like Oaktree.
Ah yes the double standards which seems to go over the heads of some here.
Seems if theyre white and in an office wearing a suit, then at worst they are breaking the law.
But if theyre black and on the streets then they are terrorist animals. Words that wont even get thrown at a white cop brutally murdering a black man on camera. Thats just wrong and to be condemned.
Originally posted by Rage.Of.Olympus
Someone mentioned something that blew my mind. Why do we not riot and loot? We have a social contract. That’s ultimately what society is right? A social contract. That’s why you get a pit in your stomach when they do loot. It’s why I do too. They’re breaking our norms.But now I ask myself, why shouldn’t they? If systemically, society has been breaking that contract and been failing you, why shouldn’t you loot a target? I don’t blame them tbh, people who have nothing better to look forward to, no future prospects have nothing to risk losing.
And tbh, there’s far worse looting going on:
https://www.bnnbloomberg.ca/private-equity-lands-billion-dollar-backdoor-hospital-bailout-1.1444295The worst criminals went to Ivy League and wear suits. I speak as someone in banking. I’m actively recruiting for PE right now, but will avoid predatory buy out funds like KKR and focus more on distressed debt shops like Oaktree.
Problem with that excuse is, the looting isn't being restricted to the mega-rich corporations. a lot of mom and pop stores are also being hit.
Also, all the people that have been killed/murdered during these riots, what social contract did they break that justifies their death?
Originally posted by Rage.Of.Olympus
The system is broken.In the last two decades, there has been a significant rise of income inequality, with the middle class and low-skilled workers (Workers without college degrees), being dealt a heavy blow. As China, Mexico etc. are low-wage countries (Relative to the U.S. and Canada), production of goods once made in the U.S. have moved, and then exported to the U.S. for sale. In fact, manufacturing exports to Mexico and Canada grew at less than half the rate after NAFTA than in the years before it.
Corporations promised they would create more factories under NAFTA but instead have fired U.S. workers and shifted production to Mexico. Data shows that more than 525,000 workers have lost work to offshoring under NAFTA. This has created downward pressure on middle- class wages as U.S. workers need to compete with low-wage workers in Mexico. Additionally, 66% of displaced manufacturing workers who were rehired saw wage reductions of 20% or more. Perhaps the most damning piece of evidence is that the average U.S. wage has grown less than 1% annually even as productivity grew at 3%. As a result, the share of national income collected by the richest 10% has risen by 24%, while the top 1% has risen by 58% since NAFTA.
As people face greater scarcity, executive functions decline. Racism and sexism will actually start to increase.
If we consider following facts about black people:
1. Life expectancy greatly improved
2. educational attainment has greatly improved,
3. poverty were all improving since 2011 before these protests happened
4. And we hit record highs of black employment (in decades)
Then how to reconcile the problems you talked about? The facts don't fit with the picture you're painting.
Also, the income inequality idea you talk about is a myth. Quality of life is vastly superior, today, even for a poor black person than the average white person in 1900. Quality of life has improved for everyone across the board, despite the fact of the ultra rich are getting richer. I don't know where this notion came from that all of us should be rich but it's not feasible. Almost every last one of us has a smart mobile phone with access to the internet, clothes to wear, and food to eat. We have a ton of improvement left to do especially with our children and elderly but it's not like you make it seem to be.
I think your facts and your point would be more accurate in 2004. I think your position was accurate in 2004. But I also think it is outdated and no longer the case.
If you were making a point about the COVID-19 lockdowns causing this economic civil unrest due to lack of jobs, food, certainty, etc. Fair enough and you're 100% right. Ignore everything I just said.
Originally posted by Darth Thor
But if theyre black and on the streets then they are terrorist animals.
Not all are terrorists. I would say a majority of them are not terrorists.
I'll take it a step further: an extreme majority of this rioters, looters, and violent thugs are NOT terrorists. Only a small, very specific group of people in this mess are actual terrorists by the government's definition. The people organizing and committing crimes, facilitating and instigating the crime. You know, the people pulling over next to groups of black people and handing them bricks; the people in crowds suggestion they burn things, flip cars over, or set things on fire; and the people literally paying others to riot and loot. Those are the terrorists. And they comprise a very tiny portion of the protesters.
Many people are just opportunistic thugs. Some of them harming (financially and physically) the very people that the protesters are taking a stand for.
In one of the cities I live in, there are 3 planned protests on Monday. I support the first 2 protests and oppose the 3rd protest. The third protest is "Storm City Hall I Hate the Mayor." That's either someone gaslighting or it's legit hate about to be a bunch of crime going on...
Far far more people, good people, will be in the first 2 protests. If there is a 3rd, organized, protest to storm city hall and the down town area around city hall, that was clearly organized by terrorists.
Capisco? I feel like I'm rambling.