"Knowledge economy is leaving some behind; The gap is widening between the poor and the rich in Massachusetts" by Edward Mason | Globe Correspondent, October 27, 2013
Chameise Few, 21, of Dorchester, is among the thousands of Massachusetts residents with limited education who continue to experience Depression-era levels of unemployment some four years after the last recession.
Related: Boston Globe Knee-$lapper
$ome recovery, huh?
As the economy accelerates its shift toward knowledge-based industries, rewarding the best educated and wealthiest households, people like Few are getting left further behind, according to a new study from Northeastern University’s Center for Labor Market Studies.
The result is a widening gap between the rich and poor that threatens to become more entrenched as education and skills play larger roles in the economy, said Andrew Sum, the center’s director. Class — education and income — increasingly determines not only earnings, but also whether some people have jobs at all....
Haven't I been typing that for years?
That's why the corporate pre$$ fills us with all sorts of division and diversion over race, gender, sexual preference, or anything else they can use to divide.
Related: Sunday Globe Special: H1-B Hijacking
Oh, all the education and class crap was just a lame-a$$ excuse promoted by my agenda-pushing paper, huh? That's why increased work visas are part of immigration "reform."
The gap becomes more pronounced using a broader measure of unemployment that includes people working part time because they can’t find full-time jobs, and those who have given up looking and are no longer counted as unemployed....
Meaning the unemployment rate is way higher than official lies, 'er, pronouncements.
. . .
Blue-collar workers were hit hard in the recession. That has left blue-collar workers competing for lower-paying service jobs, often against young college graduates having difficulty breaking into a tough job market.
Maybe they can go into babysitting.
. . .
At one time, manufacturing jobs provided the first step on the economic ladder for those with limited education, allowing them to make good livings, support families, and send children to college. As those opportunities vanish, Northeastern’s Sum said, the state and nation need to target lower-income groups with education and training programs linked closely to employers, while trying wage subsidies and other incentives to encourage hiring the unemployed and underemployed.
To do what? The manufacturers have been moved offshore! That's why "opportunities" have "vanished."
“What we really need,” Sum added, “are employers creating a lot of jobs to put these people in.”
Workforce training agencies are beginning to reshape programs to provide pathways to degrees. Jewish Vocational Service in Boston now enrolls about 100 people a year in Bridges to College, a 24-week program to help young and working adults get into college-credit programs, typically at community colleges.
Do I really even need to note such things anymore?
Related: Jewish caretaker tends to historic church pipe organ
Case f***ing closed!
Also see: Israel's Organ Harvesting Operation
Not so much print about that which has faded down the old PP memory hole.
“Five years ago, we didn’t have that service,” said Jerry Rubin, the JVS chief executive. “What drives so much growth in Massachusetts is health care, life sciences, finance, and higher education. It requires a postsecondary education to get a better job.”
Tharp recognizes his lack of schooling put him in a hole....
Related: Sunday Globe Specials: Ma$ter's Degree
Who benefits?
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Who the Boston Globe tells me can fix the problem:
"Kim trying to overhaul the World Bank" by Deirdre Fernandes | Globe Staff, October 27, 2013
Income inequality is threatening the stability of countries from Egypt to Brazil and should be a growing concern to global leaders, World Bank president Jim Yong Kim said in a recent interview.
Kim, a former Dartmouth College president, became World Bank president last year, and has made tackling economic inequality one of the international development organization’s primary goals.
An in$titution that has helped create the problem is going to fix it?
The World Bank has promoted economic growth in developing countries throughout its nearly 70-year history, Kim said, but it also needs to ensure that prosperity is shared among the people of these nations.
As long as they come with austerity policies!
“What we’ve seen all over the world is that if you don’t pay attention to that bottom 40 percent, you can have fundamental instability in your society,” Kim said, pointing to the popular movements of the Arab Spring and this past summer’s mass protests in Brazil over inequality. “Even in countries that have made so many gains in lifting people out of poverty, the bottom 40 percent were still saying, ‘But wait a minute, we want more.’ ”
Those greedy bottom 40 percent!
Related: What sprouted in the Arab Spring
Israel Benefits as World Loses
Btw, did you know the term "Arab Spring" was coined by neo-con Charles Krauthammer?
Kinda calls into question all these revolts, at least the origins of
them. I suspect it was the globe-kickers attempt to replace stale old
dictators with their new men, the side benefit being if any Islamist
party won governance (Egypt) the place would be targeted for covert
destabilization to prove Islamic (or Muslims, let's face it, that's the
message from my jewsmedia) democracy just doesn't work. Looks more and more like the protest promotions in the paper were and are controlled-opposition agenda-pushers. Despite all that it is obvious the elite rulers of the world are scared. They know there are a hell of a lot more of us than them. That is why Kim is saying what he is saying.
Also see: Slow Saturday Special: Brazil Protests Fizzled
Some are not, and the tell is the lack of coverage.
Kim was in Boston Thursday to accept an award from the Harvard School of Public Health. A physician by profession and cofounder of Partners in Health with Paul Farmer and others, Kim was a surprise choice to lead the World Bank. The bank’s past leaders have included bankers, politicians, diplomats, and former defense officials.
The bank, which provides low-interest loans and grants to developing countries, was established in 1944. Last year, it lent $53 billion with the United States providing a large bulk of the funds. While the bank has 188 member countries that act as shareholders, the United States holds the most voting power and traditionally selects the bank’s president.
Translation: The World Bank is nothing but an arm of U.S. policy.
Kim, a Korean-American, is 15 months into his five-year term and has promised to restructure the organization as it works to end extreme poverty by 2030.
After they worked so hard creating it?
About 21 percent of the world’s population lives on less than $1.25 a day; the World Bank’s goal is to cut that to 3 percent.
“It’s a huge task,” Kim said. “For us, in setting the target of 2030, we knew business as usual wouldn’t get us there.”
As part of the bank’s new strategy, it will focus on creating more partnerships between government, business, and private development groups and investing in large “transformational” efforts instead of smaller pilot projects. For example, Kim said, the World Bank needs to undertake more projects such as building an electricity grid in Myanmar to show nascent democracies that there are financial benefits to opening up their governments.
We call them bribes.
Kim also sees a role for the World Bank in helping rapidly growing Brazil, Russia, India, and China — commonly referred to as BRIC countries — balance the health care needs of both their expanding middle- and upper-middle classes and their more rural communities.
Many of these countries are experiencing an “epidemic of hospital building,” investing in expensive equipment and new facilities to meet the demands of well-off, urban residents, while struggling to provide basic health care for citizens who live far from major cities, Kim said.
“I’m trying to bring, more than anything else, a sense of urgency” about addressing such disparities, he said.
That is when the brakes need to be hit and heels dug in.
The World Bank is being forced to adapt as global charitable organizations, such as the Bill and Melinda Gates Foundation, take on a greater role financing roads, schools, and hospitals, diminishing some of the bank’s influence.
Related: Stroking You With This Post
But, Kim said, the challenges of lifting millions of people out of poverty are so great, they require the efforts of both public and private groups.
“What we now understand, is that official development assistance can’t meet the needs of all these countries,” he said.
And never could. They were just ways of enslaving populations with debt that benefited the country's elite.
Despite the emergence of China and other nations, the United States continues to play an outsized role in the global economy, especially among developing countries, Kim said....
That's because the dollar is the reserve currency. Once that is taken away you can forget about U.S. influence.
Many of these countries and their markets have already been shaken by anticipation that the Federal Reserve will soon back off its $85 billion-a-month bond purchasing program, which has kept interest rates low in the United States. Investors, who had poured money into developing countries in recent years, started to pull their money out this past summer in anticipation that they would get better returns in the United States.
Of course, this is all about curing and $olving poverty not making money off investments, right?
The recent weak US jobs reports and the drag on the economy from the government shutdown and debt ceiling debate likely mean the bond-buying program will continue for a little longer, Kim said.
Actually, it is never going to end. Those purchases are propping up Wall Street, and the Fed is the only one buying the crap anymore.
The World Bank has encouraged developing countries to make structural changes to their economies and bring down their own debts, which could help buffer against Fed tapering and rising interest rates.
That's AUSTERITY, folks... as they are trying to help all you poor people!
“We think every time there is a delay of the tapering, this is good news for developing countries,” he said....
How PATHETIC is it that he would try to claim that the Fed's propping up of Wall Street matters to developing countries!
Man, this paper REALLY IS being written for the WEALTHY ELITE!
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I need a drink after reading that.
