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Sad News for my county-another 130 employees laid off

Posted: Nov 6, 2012

The last garment factory that survived for 112 years is now gone. They just couldn't hang on any longer. They did last 4 years longer than the 90 year old company, but imports killed all of those factories. It was nothing to have 3-4 garment factories in each town.

Some of the workers were employed there for 40 years and that's all they knew. The only opportunities they have now is Wal-Mart or picking orders in big box warehouse jobs 20 miles away or whatever is left in the closest city 50 miles away. Some choice, huh? :-(

;

That is sad for the long-term workers and for a local tradition. - nm

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x

Kind of like the boat that many, many MTs are in. nm - VTMT

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.

Forward! Obama economy - the new normal. - LM

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nm

He didn't invent the global economy. US, Japan expansion - started in the 1980s.

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and the ubers raking in the dough have kept the GOP in their pockets ever since. Too late to turn back now. Forward is definitely the way to go.

Free Trade - backwards typist

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It was started by Reagan, then Bush but it was only supposed to be an agreement between the U.S., Canada, and Mexico. It was ratified by the legislatures of the three countries in 1993. The U.S. House of Representatives approved it by 234 to 200 on November 17, 1993. The U.S. Senate approved it by 60 to 38 on November 20, three days later. Clinton signed it into law on Dec. 8, 1993.

Clinton said he hoped the agreement would encourage other nations to work toward a broader world-trade pact.

So, in my view, Clinton had pushed for a broader pact with the rest of the world because they expanded it in 1995. If I'm correct, Clinton was still president?

Of course, in your view, it's Clinton's fault. - The global economy phenom bigger than the US

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US and Japan were the initial players. It caught on, then evolved. In this arena, the US does not call all the shots and is not The Boss of all the players.

Once underway, we could either try to buck the trend or get with the program. Like it or not, it's called progress. As you know, in the world of capitalism, it's survival of the fittest, and how well this turns out for us in the long run will depend on creative and innovative we can be as a People and how well we come together (or not) to face the challenge. As it stands now, I'm not all that optimistic, given the deeply rooted partisan divides we cultivate amongst ourselves, being played out in this hairline election, and its attendant rancor and hatred in its more extreme forms.

Whichever way we decide go, the rest of the world will continue to move forward. We can either get good at the game or be left in their dust.

Tell me where and when it was U.S. and Japan. Show me a link to it - backwards typist

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You keep posting that info, but no link that I can read about it.

I just remember how the U.S. hated Japan after WWII, especially the veterans, and it continued well into the late '50s, early '60s.

No one said anything about a partnership. - More like a spontaneous competition

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that arose from the size and prominence of their economies at the time. They started loosely cooperating with each other more around the mid-80s. My post only commented on most recent stages of globalization, which has been with us in one form or another since the Hellenistic Age, when spheres of trade alliances evolved spontaneously in separate parts of the globe, beginning around 3000 BC. It's just a tad more complex in modern times, especially with the advent of computer-generated connectivity, which has accelerated its progression. My point is it's not going away. Not now, not ever.

Where you go to read about it is up to you. It's an extremely vast subject that I learned about in an economic anthropology course I took in school. You could start with Googling globalization, world economy, or US-Japan trade relations.

Wow! ,Never heard of economic anthropology. - backwards typist

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All kidding aside - is that a real class and is that what it's really called? What type of degree does it go along with, world economics, stock funds, other financial courses?

I did read some sites on economics and US/Japan trade relations, but I was specifically speaking about NAFTA style agreements; IOW the ones where the governments of different countries sign paper agreements.

It was during Clinton's presidency where the US, Mexico and Canada had signed trade agreements and then he started the expansion to the rest of the Americas.

did those companies relocate? - and if so, to where

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?

CEO Walter Meck says - he attributes the closing to

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weak consumer spending, fresh competition from Asia, tighter credit standards that he said prevented the factory from getting a desperately needed loan, and a lack of interest from private investors and potential buyers. They had been expanding operations when the recession hit in 2008.

IMO, this translates to well documented decades of stagnant wages and salaries of shrinking middle class consumers and its effect on purchasing power, out-of-control outsourcing, the stranglehold banks maintain over small business owners with their tight lending policies, a scarcity of investors and entrepreneurs capable of identifying the value of preserving stability and traditions vis-a-vis megaprofit-oriented ventures. Partisan resistance to the addressing these problems effectively has not helped. It's really sad.

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