Mon, Jul 23, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The end of good jobs in America

Monday, October 02, 2017

Bailey McCann, Opalesque New York:

This week, President Trump released the outline of his tax plan, a proposal many on Wall Street were anticipating. To hear business tell it, America might as well be France. Shackled under the yoke of regulation and taxes it's a wonder America has any economy at all. Tax reform was supposed to solve at least one part of that, making it cheaper for business to do business. But, the plan, which has been widely panned even on the Street is largely a giveaway to the already wealthy. Early analysis of the plan suggests it will do little to amp up economic growth or create new jobs.

Trump's tax plan comes with few surprises to anyone who has watched the debate over economic growth in recent years. Over the past few decades, America's middle class has slowly resigned itself to the end of new, "good" jobs. Workers have seen wages fall, benefits get cut, pensions and home values evaporate all while the cost of living steadily increases year after year. New jobs now, often mean a few hundred service jobs with low wages and few if any benefits. A new book - The End of Loyalty: The Rise and Fall of Good Jobs in America, by Druker Institute researcher Rick Wartzman, offers a brief history of how we got here.

The book starts with a meeting of 19 American CEOs in March of 1943. The group sat down at the Harvard Club in New York to craft a plan to keep the economic boom driven by World War 2 alive. With the Depression in the backgr......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Northern Trust combines private equity and hedge fund admin units[more]

    From GlobalCustodian: Northern Trust has merged its private equity and hedge fund administration businesses to create a new North America Alternative Fund Services unit. The new division will provide fund administration, accounting and data solutions to its global hedge funds, private equity manager

  2. 7 ETFs that act like a hedge fund[more]

    From US News: To say 2018 has been volatile for investors borders on understatement. The first quarter saw the CBOE Volatility Index spike. Stocks churned in Q2 as the Federal Reserve raised rates again and signaled continued tightening to come. And the third quarter is off to a choppy start, thanks

  3. Investing - Hedge funds circle around debt-binge firms, Hedge funds pin macro hopes more on U.S. yield[more]

    Hedge funds circle around debt-binge firms From Hedge funds and private equity firms are positioning to profit from the collapse of companies in Europe that have binged on debt. Investors have built up their distressed debt businesses by the most in at least two years in t

  4. Funds of hedge funds are opening at a record pace in China[more]

    From Bloomberg: An investment offering that most of the world has shunned is suddenly all the rage in China, and money managers from UBS Group AG to SkyBridge Capital are moving to grab a slice of the bounty. Funds of hedge funds, which allocate client money across multiple managers, are opening

  5. Preqin: Hedge funds take a dip in June[more]

    From Hedge funds tripped again in June, recording the asset class' third negative month, as gauged by the 2018 Preqin All-Strategies Hedge Fund benchmark. June saw a 0.5% loss for the benchmark, giving the standard its worst start to a year in more than a decade. That benchmark is barely