Skip to main content

And the winner is.......

It depends on one's perspective but one needs to ask who the winner has been for Americans given it's involvement in at least 2 wars post 9/11 plus the GFC largely orchestrated by Wall St.

First, this "The Cost of bin Laden: $3 Trillion Over 15 Years" from the National Journal:

"The most expensive public enemy in American history died Sunday from two bullets.

As we mark Osama bin Laden’s death, what’s striking is how much he cost our nation—and how little we’ve gained from our fight against him. By conservative estimates, bin Laden cost the United States at least $3 trillion over the past 15 years, counting the disruptions he wrought on the domestic economy, the wars and heightened security triggered by the terrorist attacks he engineered, and the direct efforts to hunt him down.

What do we have to show for that tab? Two wars that continue to occupy 150,000 troops and tie up a quarter of our defense budget; a bloated homeland-security apparatus that has at times pushed the bounds of civil liberty; soaring oil prices partially attributable to the global war on bin Laden’s terrorist network; and a chunk of our mounting national debt, which threatens to hobble the economy unless lawmakers compromise on an unprecedented deficit-reduction deal."

Or is it this? - from TomDispatch in "How the McEconomy Bombed the American Worker":

"Think of it as a parable for these grim economic times. On April 19th, McDonald's launched its first-ever national hiring day, signing up 62,000 new workers at stores throughout the country. For some context, that's more jobs created by one company in a single day than the net job creation of the entire U.S. economy in 2009. And if that boggles the mind, consider how many workers applied to local McDonald's franchises that day and left empty-handed: 938,000 of them. With a 6.2% acceptance rate in its spring hiring blitz, McDonald’s was more selective than the Princeton, Stanford, or Yale University admission offices.

It shouldn’t be surprising that a million souls flocked to McDonald's hoping for a steady paycheck, when nearly 14 million Americans are out of work and nearly a million more are too discouraged even to look for a job. At this point, it apparently made no difference to them that the fast-food industry pays some of the lowest wages around: on average, $8.89 an hour, or barely half the $15.95 hourly average across all American industries.

On an annual basis, the average fast-food worker takes home $20,800, less than half the national average of $43,400. McDonald's appears to pay even worse, at least with its newest hires. In the press release for its national hiring day, the multi-billion-dollar company said it would spend $518 million on the newest round of hires, or $8,354 a head. Hence the Oxford English Dictionary’s definition of "McJob" as "a low-paying job that requires little skill and provides little opportunity for advancement."

Of course, if you read only the headlines, you might think that the jobs picture was improving. The economy added 1.3 million private-sector jobs between February 2010 and January 2011, and the headline unemployment rate edged downward, from 9.8% to 8.8%, between November of last year and March. It inched upward in April, to 9%, but tempering that increase was the news that the economy added 244,000 jobs last month (not including those 62,000 McJobs), beating economists' expectations.

Under this somewhat sunnier news, however, runs a far darker undercurrent. Yes, jobs are being created, but what kinds of jobs paying what kinds of wages? Can those jobs sustain a modest lifestyle and pay the bills? Or are we living through a McJobs recovery?"

Comments

Popular posts from this blog

Reading the Chilcot Inquiry Report more closely

Most commentary on the Chilcot Inquiry Report of and associated with the Iraq War, has been "lifted" from the Executive Summary.   The Intercept has actually gone and dug into the Report, with these revelations : "THE CHILCOT REPORT, the U.K.’s official inquiry into its participation in the Iraq War, has finally been released after seven years of investigation. Its executive summary certainly makes former Prime Minister Tony Blair, who led the British push for war, look terrible. According to the report, Blair made statements about Iraq’s nonexistent chemical, biological, and nuclear programs based on “what Mr. Blair believed” rather than the intelligence he had been given. The U.K. went to war despite the fact that “diplomatic options had not been exhausted.” Blair was warned by British intelligence that terrorism would “increase in the event of war, reflecting intensified anti-US/anti-Western sentiment in the Muslim world, including among Muslim communities in the

An unpalatable truth!

Quinoa has for the last years been the "new" food on the block for foodies. Known for its health properties, foodies the world over have taken to it. Many restaurants have added it to their menu. But, as this piece " Can vegans stomach the unpalatable truth about quinoa? " from The Guardian so clearly details, the cost to Bolivians and Peruvians - from where quinoa hails - has been substantial. "Not long ago, quinoa was just an obscure Peruvian grain you could only buy in wholefood shops. We struggled to pronounce it (it's keen-wa, not qui-no-a), yet it was feted by food lovers as a novel addition to the familiar ranks of couscous and rice. Dieticians clucked over quinoa approvingly because it ticked the low-fat box and fitted in with government healthy eating advice to "base your meals on starchy foods". Adventurous eaters liked its slightly bitter taste and the little white curls that formed around the grains. Vegans embraced quinoa as

Climate change: Well-organised hoax?

There are still some - all too sadly people with a voice who are listened to - who assert that climate change is a hoax. Try telling that to the people of Colorado who recently experienced horrendous bushfires, or the people of Croatia suffering with endless days of temps of 40 degrees (and not much less than 30 at night time) some 8-10 degrees above the norm. Bill McKibben, take up the issue of whether climate change is a hoax, on The Daily Beast : Please don’t sweat the 2,132 new high temperature marks in June—remember, climate change is a hoax. The first to figure this out was Oklahoma Senator James Inhofe, who in fact called it “the greatest hoax ever perpetrated on the American people,” apparently topping even the staged moon landing. But others have been catching on. Speaker of the House John Boehner pointed out that the idea that carbon dioxide is “harmful to the environment is almost comical.” The always cautious Mitt Romney scoffed at any damage too: “Scientists will fig