High Priests of Finance Plan World of Migrant Workers
While Congress is busy grandstanding before the American public, pretending to tackle immigration and labor issues with the cooperation of an oppressive Mexican government, the high priests of finance from the 25 member-nation EU and their counterparts from 13 Asian economies plan for a global economy based on dismantling protectionism and increasing migration.
Ministers had a detailed discussion on opportunities and challenges posed by the process of globalisation and the emerging international division of labor. Therefore, while protectionism has to be resisted, effective policies need to address the challenges posed by adjustment costs and to seize the opportunities provided by globalisation.One massive unprotected global labor camp.
They further agreed that such polices should include a certain number of common features valid across all countries, irrespective of their level of income, notwithstanding important differences in immediate priority areas for action and practical details.
Key to seizing the opportunities is a climate conducive to business and infrastructure investment, flexible product and labour markets, abundance of adequately qualified labor, functioning financial markets and a policy focus on education and research and development. Of equal importance to tackle the challenges is an adequate system of social protection, with a focus on empowering disadvantaged and vulnerable groups.At the expense of the middle class, of course - not the rich.
They concurred that adequate protection of vulnerable groups both in developed and less developed countries does not only have social and humanitarian value, but that a well designed system can enhance incentives to work and support productivity growth.People must be healthy enough to work, but not wealthy enough that they have time to think.
A functioning social safety net, which enhances the right balance between security and flexibility, can also help secure broad and sustained support for an open and liberal system for global trade and investment which is the backbone of a dynamic global economy. In the ASEM context, the exchange of best practices regarding labor market flexibility and social protection systems is most welcome.
They agreed that both countries of origin and destination of migration had to safeguard smooth and orderly migration flows, combat human trafficking and exploitation of migrants and enable remittances to be transferred safely and cheaply. Ministers opined that increasing migration flows require intensive cooperation between countries of origin and countries of destination.By the time they're through with the world, there will be no such thing as public resources or the 'middle class.' Everyone will be a 'temp' or a migrant worker clamoring for sustenance from their elite industrialist overlords.
Immigration is not the problem. People who are comfortable where they are DO NOT move.
Global finance is a global problem that requires a global solution. But, we can start by striking at the heart of this grotesque financial edifice - the FED.