As giant chains close locations en masse (and almost arbitrarily), and mall developers declare bankruptcy, we're reminded once again why locally-owned, locally supported businesses are important.
Woe be to the city that places too much trust on big chain restaurants and retailers without encouraging a "deep economy" of locally owned businesses. This will be something I'll attempt to emphasize for as long as they let me serve on the Economic Development Commission - - you'll see more on the topic here in coming weeks, as my first meeting with the Commission (which I will write about in the very near future) did not seem to address that issue.
Didn't see it coming? "The highest standard of living... for a country of our size."
We began having to use qualifiers for America's economic health as far back as this exchange between Representative Bernie Sanders and Alan Greenspan - back in 2003:
REP. BERNIE SANDERS (I-VT): Mr. Greenspan, I have long been concerned that you are way out of touch with the needs of the middle class and working families of our country, that you see your major function in your position as the need to represent the wealthy and large corporations.
And I must tell you that your testimony today only confirms all of my suspicions, and I urge you -- and I mean this seriously, because you're an honest person, I think you just don't know what's going on in the real world -- and I would urge you come with me to Vermont, meet real people. The country club and the cocktail parties are not real America. The millionaires and billionaires are the exception to the rule.
(AFP/Stephen Jaffe)
We have a $4 trillion national debt, 1.4 million Americans have lost their health insurance, millions of seniors can't afford prescription drugs, middle-class families can't send their kids to college because they don't have the money to do that, bankruptcy cases have increased by a record-breaking 23 percent, business investment is at its lowest level in more than 50 years, CEOs make more than 500 times of what their workers make, the middle class is shrinking, we have the greatest gap between the rich and the poor of any industrialized nation, and this is an economy that is improving.
I'd hate to see what would happen if our economy was sinking.
Now, today you may not have known this -- I suspect that you don't -- but you have insulted tens of millions of American workers.
You have defended over the years, among other things, the abolition of the minimum wage -- one of your policies -- and giving huge tax breaks to billionaires.
But today you have reached a new low, I think, by suggesting that manufacturing in America doesn't matter. It doesn't matter where the product is produced. We've lost 2 million manufacturing jobs in the last two years alone; 10 percent of our work force. Wal-Mart has replaced General Motors as the major employer in America, paying people starvation wages rather than living wages, and all of that does not matter to you -- doesn't matter.
If it's produced in China where workers are making 30 cents an hour, or produced in Vermont where workers can make 20 bucks an hour, it doesn't matter. You have told the American people that you support a trade policy which is selling them out, only working for the CEOs who can take our plants to China, Mexico and India.
You insulted Mr. Castle. Mr. Castle, a few moments ago -- a good Republican -- told you that we're seeing not only the decline of manufacturing jobs, but white-collar information technology jobs.
Forrester Research says that over the next 15 years, 3.3 million U.S. service industry jobs and $136 billion in wages will move offshore to India, Russia, China and the Philippines.
Does any of this matter to you? Do you give one whit of concern for the middle class and working families of this country? That's my question.
ALAN GREENSPAN: Congressman, we have the highest standard of living in the world.
SANDERS: No, we do not. You go to Scandinavia, and you will find that people have a much higher standard of living, in terms of education, health care and decent paying jobs. Wrong, Mister.
GREENSPAN: May I answer your question?
SANDERS: You sure may.
GREENSPAN: Thank you. For a major industrial country, we have created the most advanced technologies, the highest standard of living for a country of our size.
Published on Wednesday, July 16, 2003 by CommonDreams.org
True: The only more populous countries than America are China and India, and after us come Indonesia and Brazil. (Deep Economy, page 104). Not so great.
See entire exchange in extended
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