PBS's "Wall St. Weak" w/Fortune last night. Outsourcing Dem plot

Last night's PBS "Wall Street Week With Fortune Magazine" interviewed some stock analyst last night who said the Dems purposefully manipulated "Outsourcing" into a campaign issue in hopes of whisking Kerry into the White House.

After gagging, I continued watching and heard that the economy is doing great now and any concerns about 'outsourcing' of US jobs overseas was just Democratic histrionics.

This appears to be contradicted by reports in my morning paper, such as James Pinkerton's column on the potential for a China 'bubble':

"So is the economic picture here (in China) sunny? Some see stormy weather ahead. A leading American hedge-fund manager, Peter Thiel of Clarium Capital Management in San Francisco, sees China's enormous expansion as "a bubble," created in part by interest rates so low that they have actually turned negative. That is, because of anomalies in the relationship between the Chinese yuan and the U.S. dollar, lenders are, in effect, paying borrowers to take their money. Needless to say, such money is not always well spent. And of course, such flukish financial circumstances won't last long." from

http://www.newsday.com/news/columnists/ny-
oppin104170226mar10,0,4100063.column?coll=ny-news-columnists

So, it looks like PBS/WSWwF commentators have a vested interest in keeping the globalization and outsourcing of US jobs going for a bit longer, in order to bleed as much out of the system until the realization that China is indeed a 'bubble' sinks in.

As further proof of that, with yesterday's trade deficit numbers up, Sen Byron Dorgan, D-ND, "called the deepening trade deficit a national crisis and said President Bush should convene a summit to develop a comprehensive deficit reduction plan. 'The Bush administration and the Congress have to stop ignoring this crisis in international trade,' Dorgan said, 'The longer we ignore it, the more American jobs will move overseas.'"

So, for all of you out there who's jobs were 'outsourced', don't expect accurate reporting by MSM or PBS (with emphasis on the 'b.s.'). The message is that the economy is doing great, there's no problem, and the only one's talking about outsourcing in a negative light are those manipulating Democrats.

This is to keep the money coming in, last fool in pays the tab !

And those news jobs that were created recently provide a living wage. Yeah....sure.....outsourcing works....I'm richer now too......where is my meds?

Tux, I'm still wondering when the 'net' new jobs Bush's administration touts are coming. As far as I can tell the economy isn't keeping up with population growth and most new jobs are going to immigrants, both legal on visas and illegal.

>snip>

"In the past four years, the number of immigrants into the US, legal and illegal, has closely matched the number of new jobs. That suggests newcomers have, in effect, snapped up all of the new jobs.

"There has been no net job gain for natives," says Andrew Sum, an economist at Northeastern University...

What employers really want in many cases by hiring immigrants is to hold down wage costs, experts say"

>snip>

From 'Why the new jobs go to immigrants'
http://www.csmonitor.com/2005/0310/p17s01-cogn.htm