Unrelenting Global Economic Crisis: A Doomsday View of 2012

Prof. James Petras

Introduction

The economic, political and social outlook for 2012 is profoundly negative. The almost universal consensus, even among mainstream orthodox economists is pessimistic regarding the world economy. Although, even here, their predictions understate the scope and depth of the crises, there are powerful reasons to believe that beginning in 2012, we are heading toward a steeper decline than what was experienced during the Great Recession of 2008 – 2009. With fewer resources, greater debt and increasing popular resistance to shouldering the burden of saving the capitalist system, the governments cannot bail out the system.

http://www.infowars.com/unrelenting-global-economic-crisis-a-doomsday-view-of-2012/

You might have kept that until after the New Year so that we can all enjoy the holiday!

What a pessimistic view. It takes some fantasy to take a 5% growth in India (for example) as a bad sign. In fact, this is the time for Asia, and we will see more growth over here, while the US and the EU suffer. Mainly because the salaries are so high and the unions so strong that even US/EU companies move their production plants to Asia.

The EU and US will not collapse. At some point common sense of a sort will emerge. Not that I can see it from my bunker...

Do you think these companies ever wonder who is going to buy their junk if they keep relocating to where they can pay lower wages?

Who do they think will be able to afford an iPad on $50 a week?

double post

I reckon the issue is more related to labour laws. ie In SEA there aren't many at all. That's a much easier field to operate in.

Also none of the Elf & Safety nonsense neither......you don't need to be a bad employer to find all of the regulations ridiculous.

A bit of common sense and things could iron themselves out....but now I'm in the H&S game myself I hope it continues to be the cash cow for many more years!

I'm now teaching Basic Life Support to Cardiac surgeons..... At considerable expense an all....

If you have doubts about elf and safety you've obviously never worked outside an office. (Although paper cuts can be very nasty).

Try going up to the Plain of Jars and counting the average number of hands on Lao landmine clearers if you think e&s is only union bullshit.

If you have doubts about elf and safety you've obviously never worked outside an office. (Although paper cuts can be very nasty).

Try going up to the Plain of Jars and counting the average number of hands on Lao landmine clearers if you think e&s is only union bullshit.

double post

I reckon the issue is more related to labour laws. ie In SEA there aren't many at all. That's a much easier field to operate in.

Also none of the Elf & Safety nonsense neither......you don't need to be a bad employer to find all of the regulations ridiculous.

A bit of common sense and things could iron themselves out....but now I'm in the H&S game myself I hope it continues to be the cash cow for many more years!

I'm now teaching Basic Life Support to Cardiac surgeons..... At considerable expense an all....

Offices make me feel sleepy . Ergognomics are definatley an elf and safety issue .

Do you think these companies ever wonder who is going to buy their junk if they keep relocating to where they can pay lower wages?

Who do they think will be able to afford an iPad on $50 a week?

Some of the richest people in the world live in Asia. Of course, that's not the point. The point is that there is an emerging or increasing middle class in many Asian countries, and these people buy the iPad (to work with your example).

Thailand's biggest trading partner used to be the US. Now it is ASEAN, i.e. trade within the pact, and I am very sure that if you count ASEAN+3 or ASEAN+6, the US or the EU will fall behind in importance.

To keep with the example of Apple, they are an American company. Many of their products are manufactured in Asia. How much of their revenue comes from Asia? What will the percentage be in five years from now?

If you have doubts about elf and safety you've obviously never worked outside an office. (Although paper cuts can be very nasty).

Try going up to the Plain of Jars and counting the average number of hands on Lao landmine clearers if you think e&s is only union bullshit.

Not sure which post you are referring to, as you did not quote anything at all.

But union "bullshit" is not so easily dismissed. In Europe, they had a very important role 100 years ago to protect working from basic health problems (which is what I think you are referring to). Nowadays, they are about increasing wages and reducing working hours (at least in Europe). Refusing to look at the big picture and the world market, they are effectively destroying jobs in Europe.

I don't know details abut the US, but can assume that the situation is no different.

Lao landmine clearers are a totally different issue. Of course they need protection, but that has nothing to do with the manufacturing jobs that we are discussing here.

I saw on the news yesterday more than once how the US economy is turning so by election time in November all will be better than ever.

If you have doubts about elf and safety you've obviously never worked outside an office. (Although paper cuts can be very nasty).

Try going up to the Plain of Jars and counting the average number of hands on Lao landmine clearers if you think e&s is only union bullshit.

That's exactly why H&S was first introduced to protect people from injuries in the workplace. Fact is its now become an industry of its own....these guys are lobbying for more and more regulations which conveniently suggest using their products or services. Add on the inevitable directorships or fact finding missions and you have your answer.

If you have doubts about elf and safety you've obviously never worked outside an office. (Although paper cuts can be very nasty).

Try going up to the Plain of Jars and counting the average number of hands on Lao landmine clearers if you think e&s is only union bullshit.

That's exactly why H&S was first introduced to protect people from injuries in the workplace. Fact is its now become an industry of its own....these guys are lobbying for more and more regulations which conveniently suggest using their products or services. Add on the inevitable directorships or fact finding missions and you have your answer.

I suppose its about making sure there are hard hats in the factory, in preference to expensive presents to potential customers. Making sure that drains are properly checked; that flues are well-ventilated; that spray from the paint booths is not leaking to where other staff are working. Ensuring that the migrant workers have basic training in the safety of materials that they work with.

I've never been in a scrap yard in the UK that was as untidy and downright unsafe as the site I was on in Mumbai.

Unfortunately, too few people in the UK take health and safety seriously enough to be able to argue competently with the jobsworths who can use it to furnish their own empires.

As I've posted previously, my dear old Uncle passed on from cvancer which may have been caused by coal dust. Or by excessive smoking. We are lucky that nowadays, the risks that my brother is exposed to (in more or less the same industry) are much more controlled and limited.

SC

It's always hard to get the old guys to take notice of H&S, they lose their hats and masks deliberately, you have to get at the young workers, make them accept it as part of the job, as natural as putting on their pants.

A few years back one of the most employer hated unions in Australia caused a ruckus when they announced that no one would enter the work site with out the proper safety equipment.

A few years back one of the most employer hated unions in Australia caused a ruckus when they announced that no one would enter the work site with out the proper safety equipment.

Which is the rule we introduced on our construction site when it started nearly three years ago. The labour and security guards quickly learnt the basics and, on the whole, followed the rules, even if they thought the rules were Western fussiness. But the management of the main civil contractor were another matter. The project director was eventually thrown off the site, as he persisted in walking round the site in soft shoes, no hardhat or hi-vis vest. (Talking to his staff - he thought that putting on such safety gear reduced his status to that of a worker).

There is no knowing where 'face' is important in SE Asia.

(But it was nice taking his badge off, sending him to the gate with security people, as if he'd been caught thieving)

As I've posted previously, my dear old Uncle passed on from cvancer which may have been caused by coal dust. Or by excessive smoking. We are lucky that nowadays, the risks that my brother is exposed to (in more or less the same industry) are much more controlled and limited.

SC

I lost an uncle the same way SC. He was 44 when he passed away although I will say he smoked 40 Capstan full strength cigarettes a day.

On another note his widow received no pension as he died before reaching 45. If he had she would have received a widow's pension. Very sad business.

There is some good news.

A Maya culpa on end of world

THE last New Year's Day in human history has come.

You may not believe it, but millions do. They are convinced that ancient Maya priests calculated December 21, 2012, as the end of the world. The only problem is, the ancient Maya predicted no such thing.

Read more: http://www.theage.com.au/world/a-maya-culpa-on-end-of-world-20120101-1ph5o.html#ixzz1iDhwoC00

As I've posted previously, my dear old Uncle passed on from cvancer which may have been caused by coal dust. Or by excessive smoking. We are lucky that nowadays, the risks that my brother is exposed to (in more or less the same industry) are much more controlled and limited.

SC

I lost an uncle the same way SC. He was 44 when he passed away although I will say he smoked 40 Capstan full strength cigarettes a day.

On another note his widow received no pension as he died before reaching 45. If he had she would have received a widow's pension. Very sad business.

How much cheerier can this thread get?

My mate lost his job, and he can't leave the country to find work because he can't get a passport for his adopted daughter.

SC

What, still alive at fifty-two,

A fine, upstanding guy like you?

Like enough you won't be glad

When they come to hang you, lad;

For bacon's not the only thing

That's cured by hanging from a string.

(slightly adapted; sorry, I don't know the author)

Housman... A Shropshire Lad?

No, a parody of same. I know it was off topic, but I just wanted to cheer people up.

What I'm waiting for is somebody to say, But I'm 52! The original parody was 22, but I doubted whether there'd be anybody on the forum at that age.