Glenn Hutchins, globalist whore, former economic advisor to Bill Clinton, member of the Council of Foreign relations, aside from co-founding the gigantic $26b private equity firm, Silver Lake Partners — is a plotting bitch and the Wikileaks emails have proved it.
First, he schemed with Podesta to ambush Trump in a CNBC forum about the economy
“I am going on CNBC between 8 and 9 AM on Monday morning and expect, among other topics, to be asked about HRC. My plan is to contrast the Rs whining after the CNBC debate with her masterful performance before the Benghazi panel and pose the question of who looks presidential,” Hutchins wrote to Tanden and Podesta. “As I prepare, any input from you two would be welcome.”
“I think you may get asked about the debate and Paris. I will send you ideas post debate,” Tanden said.
“Turns out now that Trump is calling in between 8 and 8:10. So I am going on at 7:45 in order to be in place for to call,” Hutchins replied. “I am trying to craft one question to ask him in case I get a chance. Any thoughts?”
Podesta suggested ambushing Trump with a question about minimum wage.
“Maybe given his wages are too high which he has walked back to only being about the minimum wage: ask him [s]ince so much low wage work is concentrated in the service sector from fast food workers to housekeepers, why would raising the minimum wage affect US competitiveness?” Podesta wrote.
“Neera: can someone please send me what Trump has said about the minimum wage?” Hutchins wrote back.
Hutchins later sent Tanden and Podesta his question: “You have said that raising the minimum wage would make America uncompetitive. But virtually all minimum wage jobs [see graphic below which I will send to CNBC in advance] are in services industries that don’t export like your hotels and resorts. How do you explain that?”
Podesta replied he liked it.
Indeed, Hutchins did ask his Clinton campaign-approved question on Monday, November 16, 2015 during a lengthy phone interview Trump conducted with CNBC.
“Hello, Donald, we’re going to be talking about the U.S. economy and economic policy later in the show today,” Hutchins began, reciting the question almost word-for-word. “You said that raising the minimum wage would make the U.S. uncompetitive. But almost all minimum wage jobs are in services industries that don’t export like your hotels and resorts. How do you explain that?”
Trump replied in part that U.S. wages were “uncompetitive,” adding that “we have to keep our wages down or I feel strongly we would be more and more non-competitive.”
To make matters exponentially worse, this little shit had a candid discussion about the deleterious effects that globalism was inflicting on the U.S. economy. After describing his views on the economy, Podesta asked for him to dumb it down so his retard level IQ could understand. Glenn did exactly that.
you have (characteristically) gone right to the heart of the most difficult problem. In response to your specific question, over that last 15 years, the capacity of labor to demand a greater share of profits from productivity gains have been overwhelmed by several factors: 1) globalized wage competition as incomes have slowly equilibrated around the world, 2) the increasing portion of our economy that is generated by service work (as opposed to good production) that is less susceptible to productivity improvement, 3) the use of technology to generate productivity gains (so that the benefits accrue to capital rather than labor), 4) the overhang on the labor market and wages from discouraged workers who dropped out and the long-term unemployed, 5) the replacement of lost middle wage jobs with lower wage jobs, and 6) more recently, the change in the nature of work itself which is now more part-time, project (or “gig”) oriented and based on an independent contractor model.
>> >> All of this had led to both stagnant wages and rising income insecurity – both of which are far more relevant than income inequality. I think some smart candidate for public office is going to figure this out and start talking about the modern economy in a way that resonates with workers’ actual experience.
>> >> The public policy response can be a re-tooling of the policies that touch on work – unemployment insurance, OSHA, worker’s compensation, retirement savings etc – in a way that is relevant to the modern economy, refocusses the debate in an innovative way and proves that the candidate(s) understand the world in which the voters live.
> >> >> >> Glenn Hutchins
Neera Tanden from American Progress loved his analysis, explaining the mysterious and alarming drop in productivity.
This is phenomenal. I have seen the discussion of declining productivity — one question I have is why is it rational for workers to be more and more productive if they don’t see gains from productivity in their paychecks? From an economically rationalist perspective, stagnant wages should inexorably lead to declined productivity, no? Is there an alternative view of why there’s a decline in productivity? Our econ team said productivity increased 30% btwn 2000 and 2013, with no corresponding increase in wages. 30% for that time period is not great, but it’s also not an historic low.
>> > >> > Would love to understand why people would expect increasing productivity in the world we live in.
Bing-fucking-OH. These people get it in private. They know precisely what needs to be done and it all meshes very well with Trump’s policies. But they’re shills first, Americans second, so we get shafted.