Central Valley

OPINION: How Did So Many People Lose Their Jobs

Thomas Benigno

I have been watching the great tragedy in America, watching millions of American citizen’s lose their jobs. It seems as though it started in the year of 2004 when we were in the third year after the 911 attack on the Twin Towers. America seemed to be in shock that it could have happened here in the strongest country in the world, so we thought at the time. Seven years later we are still at war and still spend billions to maintain the war. President Bush’s staff still maintained that there were weapons of mass destruction in Iraq, and the surrounding areas. One of the main reasons the war went on as long as it did. The military build up continued as did the war, but something was wrong. The economy seemed to slip into a major recession from that period and never has recovered to this day. Many of those who supported the war thought that the money machine would continue forever, and the whole nation would benefit from the military buildup of arms and ammunition.

During that period many of the the largest companies in America were shutting down for some reason but no one would question why, especially the stock holders, who stand to gain most of the profits from the military buildup. As we have seen, the eight years of the Bush administration and now the third year of a new president, Obama and his administration, are having doubts whether the economy will turn around. THE BIG QUESTION IS, WHY DID SOME 12 MILLION PEOPLE LOSE THEIR JOBS DURING THAT PERIOD? No one seemed to have the answers. To date the Obama administration says we will have 60% of those 12 million back to work by next year. My question is, why and where did those jobs go? Many say it was because many jobs were being out-sorced at a time when the war effort was creating more jobs overseas. That was good for government jobs and military personell, but the private sector struggled to keep up with inflation, that was killing most middle class Americans.. So again to ask why and what happened?

The largest myth we experienced was the housing industry. More and more houses were being built and sold to people who couldn’t afford to buy them. Then when there were no jobs the housing market crashed, destroying the people who had ligiment ownership or equity in their homes. Many saw the forest through the trees and bailed out leaving a gaping whole in the economy. To add insult to injury, the real estate industry started to create a program to short sale those homes to those who had jobs and no homes. The program helped the major banks receive more money, and the government was bailing out those banks. Instead of holding the value of the homes up by lowering the payments for those who were about to be foreclosed on due to NO JOBS, the banks called in millions of loans. The rest is history. The economy is still in the tank and those who made mega bucks from the war effort, were and still are buying up those foreclosed homes. Now the trick comes to light. The homes are being rented to those who have come to America and took jobs away from those poor citizen’s who lost everything.

THE BIGGEST SLAP IN THE FACE TO MANY IS THAT OUR GOVERNMENT HAS BAILED OUT THOSE BANKS FOR FORECLOSING ON THE LOANS. Many say stop complaining and just accept what happens as a change in the times. Go tell that to those who will never recover their looses on their homes and business. If the economy is going to be so good why aren’t investors and corporate business’ hiring people? The government is still helping those business’ stay afloat, by bailing them out. The people aren’t asking to be bailed out. JUST GIVE US THE JOBS WE WERE PROMISED.

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One thought on “OPINION: How Did So Many People Lose Their Jobs

  1. As businesses, universities, states, counties, cities stumble through the recession some find themselves in a phase of creative disassembly. Hundreds of thousands of jobs are shed. World class University of California Berkeley Chancellor Birgeneau ($500,000 salary) and his $7 million outside consultants are firing employees via Birgeneau’s “Operational Excellence (OE)”: 2,000 axed by end 2011. Yet many cling to an old assumption: the implied, unwritten management-employee contract.

    Management promised work, upward progress for employees fitting in, employees accepted lower wages, performing in prescribed ways, sticking around. Longevity was good employer-employee relations; turnover a dysfunction. None of these assumptions apply in the 21 century economy. Businesses, universities, public institutions can no longer guarantee careers, even if they want to. Managements paralyzed themselves with a strategy of “success brings successes” rather than “successes brings failure’ and are now forced to break implied contract with employees – a contract nurtured by management that future can be controlled.

    Jettisoned employees are discovering that hard won knowledge earned while loyal is no longer desired in employment markets. What contract can employers, employees make with each other?

    The central idea is simple, powerful: job is a shared partnership.
    • Employers, employees face financial conditions together; longevity of partnership depends on how well customers, constituencies needs are met.
    • Neither management nor employee has future obligation to the other.
    • Organizations train people.
    • Employees create security they really need – skills, knowledge that creates employability in 21st century economies
    • The management-employee loyalty partnership can be dissolved without either party considering the other a traitor.

    Sustained employability in the 21st century economy is security. Employability: are you employable in the job market?

    Posted by Milan Moravec | November 18, 2011, 12:11 pm

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