Tapsearch Com EditorGreenspan celebrates at the altar of greed (LINK)
December 31st 2007 00:33
Bizarre Politics Reports:
Greenspan at the altar of greed
Continuing our review of Alan Greenspan and his book The Age of Turbulence - by Ray Tapajna - part of the Greenspan from the trenches series
Coming into the 1990s, Alan Greenspan celebrates at the altar of greed with President Bush the first and President Bill Clinton. It is the end of an era of human dignity in the workday.
IBM introduced the PC compatible micro computer in 1981. It became the micro computer revolution. Most of IBM's mainframe competitors were gone. The mini-computers took over with bundled software. IBM never bundled software with their hardware. The software industry was leading the way in application software. IBM chose Bill Gates DOS operating system for their micro computers and MicroSoft became a monopoly overnight.
The PC Micro revolution becomes an economic nightmare with more than a million workers losing their jobs in the computer industry
The word on the street in the computer world, was all about IBM just wanting to throw a monkey wrench into micro computer battle and protect their mainframe business. For the first time in their corporate history they chose outside sources for parts to assemble their new PC computer. With everyone else able to get the same parts, the computer became a compatible model. IBM was forced to be cautious. They were still in many anti-trust legal battles. They even gave parts of their corporations to settle some of the anti-trust law suits. This is one of the reasons, IBM made the PC a compatible for others to copy.
Bill Gates and Microsoft did not have to do the same with the operating software. . Gates kept complete property rights to the operating system. Just think what history would be like if Gates also made the software a compatible product.
IBM never suspected their compatible PC to take off as it did. It filled the need for distributive processing. IBM however, wanted to put a wall in front of their mainframe business based on central processing.
However, with the branded name being IBM, the PC became the standard overnight. This came after others struggeled for years to gain a top position in the market. Microsoft DOS tied into the IBM branded name became the standard of the industry too overnight. IBM history of not bundling systems caught up with them. Going outside for the components proved to be a fatal mistake for many of their divisions. There were libraries of software ready to go.
We wonder who was steering this unusual happening in history. IBM usually had everything covered when they did their thing in the past. It was unusual to see IBM make such a blunder - or perhaps they were part of something much bigger, but that gets into conspiracy theories we do not need to tell our story. Perhaps IBM found they had to shed the high wages they paid their employees.
Thousands of new PC computer dealers, system houses and software companies were started. It appeared the PC revolution would instigate an economic revolution too. It did not.
Less than a decade later most of the new PC related companies were gone. They found it impossible to compete in a global setting where cheap labor from abroad ruled the game.
My big mistake was to think the people and the business community would not let this happen. I fought all the way for the last micro computer made in the USA. However, a domino affect took over taking out businesses across the USA>
1990 was the turning point. More than 2,000 factories were moved to Mexico with many being in high tech. Application software creation was outsourced to other countries. Impoverished workers were used to make the parts. Most any component could be copied abroad. I was a trouble shooter supplyer for U.S. industrial computers at the time and the end came here too after a many years of success. The U.S. industrial computer manufacturing engineers were unable to work with the components coming from Asia. There were no standards.
Then President Clinton consummated Free Trade and Globalization steering the passage of NAFTA and GATT trade agreements in 1994. The number of factories moved to Mexico jumped to more tha 4,000 overnight. Millions lost their jobs in the most massive dislocation of jobs in U.S. history. Many companies went bankrupt with many pension programs going the same way. Now the Federal Pension Insurance Program is running out of funds paying for many of the pensions in the private sector that went bankrupt. Workers who will never get pensions are paying the toll. Free Trade has taken tariffs off products and have put them on workers.
I serves three major industrial computer manufacturers. They have either closed down completely or moved part of their manufacturing outside the USA. The company that created most of the magnetic coating technology for hard disk and disk storage was put out of business by foreign competition. The company helped start Seagate hard drives too. It used the profits to defend their survival but lost. Seagate went on to become the top hard drive producer in the world. However, only 10,000 workers were left in the USA. 90,000 Seagate employees were employed outside the USA making hard disks. An end of an era had arrived. All the investments in research and development were lost.
Soon after President Clinton took office, just between IBM and AT&T / NCR computers about 300,000 workers lost their jobs. More than a million workers lost their jobs in the computer industry surrounding this time leading to the Y2k crisis.
The Y2k crisis was a economic nightmare but it proved to be an economic blessing for President Clinton and Alan Greenspan - see next post.
Coming into the 1990s, Alan Greenspan celebrates at the altar of greed with President Bush the first and President Bill Clinton. It is the end of an era of human dignity in the workday.
IBM introduced the PC compatible micro computer in 1981. It became the micro computer revolution. Most of IBM's mainframe competitors were gone. The mini-computers took over with bundled software. IBM never bundled software with their hardware. The software industry was leading the way in application software. IBM chose Bill Gates DOS operating system for their micro computers and MicroSoft became a monopoly overnight.
The PC Micro revolution becomes an economic nightmare with more than a million workers losing their jobs in the computer industry
The word on the street in the computer world, was all about IBM just wanting to throw a monkey wrench into micro computer battle and protect their mainframe business. For the first time in their corporate history they chose outside sources for parts to assemble their new PC computer. With everyone else able to get the same parts, the computer became a compatible model. IBM was forced to be cautious. They were still in many anti-trust legal battles. They even gave parts of their corporations to settle some of the anti-trust law suits. This is one of the reasons, IBM made the PC a compatible for others to copy.
Bill Gates and Microsoft did not have to do the same with the operating software. . Gates kept complete property rights to the operating system. Just think what history would be like if Gates also made the software a compatible product.
IBM never suspected their compatible PC to take off as it did. It filled the need for distributive processing. IBM however, wanted to put a wall in front of their mainframe business based on central processing.
However, with the branded name being IBM, the PC became the standard overnight. This came after others struggeled for years to gain a top position in the market. Microsoft DOS tied into the IBM branded name became the standard of the industry too overnight. IBM history of not bundling systems caught up with them. Going outside for the components proved to be a fatal mistake for many of their divisions. There were libraries of software ready to go.
We wonder who was steering this unusual happening in history. IBM usually had everything covered when they did their thing in the past. It was unusual to see IBM make such a blunder - or perhaps they were part of something much bigger, but that gets into conspiracy theories we do not need to tell our story. Perhaps IBM found they had to shed the high wages they paid their employees.
Thousands of new PC computer dealers, system houses and software companies were started. It appeared the PC revolution would instigate an economic revolution too. It did not.
Less than a decade later most of the new PC related companies were gone. They found it impossible to compete in a global setting where cheap labor from abroad ruled the game.
My big mistake was to think the people and the business community would not let this happen. I fought all the way for the last micro computer made in the USA. However, a domino affect took over taking out businesses across the USA>
1990 was the turning point. More than 2,000 factories were moved to Mexico with many being in high tech. Application software creation was outsourced to other countries. Impoverished workers were used to make the parts. Most any component could be copied abroad. I was a trouble shooter supplyer for U.S. industrial computers at the time and the end came here too after a many years of success. The U.S. industrial computer manufacturing engineers were unable to work with the components coming from Asia. There were no standards.
Then President Clinton consummated Free Trade and Globalization steering the passage of NAFTA and GATT trade agreements in 1994. The number of factories moved to Mexico jumped to more tha 4,000 overnight. Millions lost their jobs in the most massive dislocation of jobs in U.S. history. Many companies went bankrupt with many pension programs going the same way. Now the Federal Pension Insurance Program is running out of funds paying for many of the pensions in the private sector that went bankrupt. Workers who will never get pensions are paying the toll. Free Trade has taken tariffs off products and have put them on workers.
I serves three major industrial computer manufacturers. They have either closed down completely or moved part of their manufacturing outside the USA. The company that created most of the magnetic coating technology for hard disk and disk storage was put out of business by foreign competition. The company helped start Seagate hard drives too. It used the profits to defend their survival but lost. Seagate went on to become the top hard drive producer in the world. However, only 10,000 workers were left in the USA. 90,000 Seagate employees were employed outside the USA making hard disks. An end of an era had arrived. All the investments in research and development were lost.
Soon after President Clinton took office, just between IBM and AT&T / NCR computers about 300,000 workers lost their jobs. More than a million workers lost their jobs in the computer industry surrounding this time leading to the Y2k crisis.
The Y2k crisis was a economic nightmare but it proved to be an economic blessing for President Clinton and Alan Greenspan - see next post.
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