Middle-Class Sold Out by Corporate Soldiers of Fortune

Since we bailed it out, GM has become General Tso Motors, and in the process sent 6,000 jobs to China and killed off 78,000 jobs here at home.-Dick Young

The Republican party has sold its soul to Fortune 500 companies. Where have all the Reagan Democrats gone? As Pat Buchanan tells us, “Answer: For a generation, when forced to choose between Middle America and corporate America, on NAFTA, most-favored nation for China, and free trade, the GOP establishment opted to go with the Fortune 500. In the GOP the corporate conservative rides up front; the social, cultural and patriotic conservatives in the back of the bus.”-E.J. Smith

America’s middle-class has been left behind by its own corporate soldiers of fortune as Buchanan points out here:

“No longer committed to a particular place, people, country or culture, our largest public companies have turned globalist, while abdicating the responsibility they once assumed to America and its workers.”

Citing Joel Kotkin’s work, Patterson adds, “the worst offenders are Apple, Facebook, Google, the high-tech firms secluded in Silicon Valley, a dreamland where the information age glitterati make Gilded Age plutocrats look bourgeois.”

Google has five times GM’s market capitalization but employs only one-fourth the number of GM’s American workers. Steve Jobs’ Apple has “700,000 industrial serfs” working overseas.

Since we bailed it out, GM has become “General Tso’s Motors,” creating 6,000 new jobs in China while shedding 78,000 U.S. jobs here.

Marco Rubio today leads Senate Republicans in doing the bidding of corporate America, which, in payback for its campaign contributions, wants amnesty for 12 million illegal aliens.

Agribusinesses need more peons. Restaurant chains want more waitresses, dishwashers, busboys.

Construction companies want more ditch-diggers. Silicon Valley demands hundreds of thousands more H-1Bs — foreign graduate students who can be hired for half what an American engineer might need to support his family.

“Merchants have no country,” said Thomas Jefferson. “The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.”

Amen to that.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.