Tuesday, July 27, 2010

Now we know where the bailout money went

Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night. -- Karen Mracek and Thomas Beaumont

America is bleeding.

For decades, American corporations without any fidelity to the country of their birth have been outsourcing the manufacturing base and economic infrastructure of America to India and China for slave labor wages and usurious profits.

At least since 1983 to 2004 2 million manufacturing jobs are estimated outsourced to foreign countries. The trend has not slowed and is not reversing in the years subsequent 2004 until now.

2 million manufacturing jobs that are estimated to have moved offshore since 1983. These numbers are predicted to rise. Management consulting firm McKinsey & Company's economic think tank, the McKinsey Global Institute, predicts that white-collar offshoring will increase at a rate of 30 percent to 40 percent over the next five years. By 2015, Forrester predicts, roughly 3.3 million service jobs will have moved offshore, including 1.7 million "back office" jobs such as payroll processing and accounting, and 473,000 jobs in the information technology industry. --Sharon Otterman, Council on Foreign Relations (source)

In a one, two punch first to the abdomen and then to the head, America has been hit by treacherous corporate practices meant to empower and enrich the new “International Corporations” that have divest themselves from their mother country through decades of outsourced American jobs . Now the coup de grace American tax payers were forced to bailout Goldman Sachs and AIG who plotted, planned and executed the Global financial meltdown and then acted as a front to send  Billions of America's taxpayer money to foreign banks. Again, America is bleeding.(see article) (see 5:13min video)

All of this is happening because the guardians of the American people, the U.S. Congress and the U.S. president are complicit in the bleeding of the America people. It was the Congress and the President who approved the bailouts, it is Congress and the President that continue to heap mountains of debt on the American people in the middle of the greatest economic depression since the great depression and it is Congress and the President that are using this economic crisis to advance their expensive Progressive Socialist Big Government plan.

"We thought originally we were bailing out AIG. Then later on ... we learned that the money flowed through AIG to a few big banks, and now we know that the money went from these few big banks to dozens of financial institutions all around the world."-- Sen. Chuck Grassley, R-Ia.

In addition, it is Congress and the President that continue to preside over a jobless economy with no plans to hold “International Corporations” responsible for gutting the U.S. economic infrastructure.

The only plan that this Congress and this president has is asking for more American taxpayer money to enlarge the federal government. This is what they call job creation and job stimulus.

America is bleeding. The bleeding is called, spreading America’s wealth around the world or the bleeding is called the great transference of wealth from the West to the East. Whatever one calls it know this, American is bleeding jobs and taxpayer moneys and our Congress and president are complicit in the bloodletting.