The causes of the Second Depression we’re now entering are three-fold.

  • The internet facilitated a virtual invasion of America which no one talks about, except….oh…you and me and we don’t count for squat.

  • Imagine, if you will what would happen if 25-million Indians applied for H1B visas? Why, the RRRR (rabid right radio ranters) would bo berserk. But did they say “OMG – We’re being virtually invaded by cheap labor! Not a frigging word. They got paychecks to defend.

  • Thanks to zero-cost labor, what was once “valuable human capital” – some of us still have memories of a well-trained workforce – that has disappeared from corporate bookkeeping. Everyone’s disposable…me included. You included. Toss in consumer supersaturation as a bonus.

  • There is no purchasing-power-parity adjustment on a country-by-country basis due to business-crafted anti-work/anti-human legislation embodied in documents like the General Agreement on Tariffs and Trade which institutionalized the “old paradigm” in 1949 and then handed off “paradigm preservation to the World Trade Organization in 1995. Labor of participating countries had virtually no voice in the process whereas the corporate-government types had wide voice. What’s worse, when president Obama took 200+ top US businessmen to India last year, the clear objective was to bring in even more least-cost labor into the equation…