Reply #6: Offshoring. [View All]

Ed Schultz said yesterday that 2.4 million manufacturing jobs have been moved offshore. He's probably not too far off though I don't really know. Add to that all the customer service jobs and now computer jobs and other information-based jobs like accounting/bookkeeping, medical information, etc. and it's a wonder that the official unemployment rate isn't even higher than it is.

I've wondered if Congress is wary of doing anything serious to discourage offshoring for fear that it would tank the stock market which could lead to an electoral blowout. :shrug:

Of course if people don't have jobs in the first place due to massive offshoring then they won't be putting much if anything into the stock market anyway.