I see that there is tons of outsourcing going on. I call up my computer company and my phone company for tech support and they are all Indians. The other day I get a call for some timesharing deal, the guy, who was obviously from India, says his name is Jim Smith. What a joke that was. I'll never forget that. He said he was from Georgia, but the area code on the caller ID was from the state of Washington. Since most people are on the do not call list, I assume that doesn't apply if the call comes from outside the US? So these US companies decided to just go to India and find workers to hawk their wares. Perhaps it was a big con just to justify firing all of their American sales people and hire overseas workers for cheaper labor. A big company can fire 100,000 US workers and say they save $40k/year in salary expense, they'll profit an extra $4 billion and pay around $1.4 billion in corporate income taxes, assuming a 35% corporate income tax rate, and the top executives will be happy and so will the IRS. Only the 100,000 fired workers will not be happy, but who cares about them and their families, we (top level executives) just want our stock to go up, so we can then unload it at the top to the poor workers that were fired, who are trying to desperately make money, so they invest in the stock market with the little money they have left and then lose everything.
When most worker's jobs in this country have been outsourced, how will they have the money to buy goods and services from the companies that outsource? Don't these companies know that eventually the US consumer will be tapped out, their sales will suffer, and the stock has a good chance of suffering.
When most worker's jobs in this country have been outsourced, how will they have the money to buy goods and services from the companies that outsource? Don't these companies know that eventually the US consumer will be tapped out, their sales will suffer, and the stock has a good chance of suffering.