RBC replaces Canadian staff with foreign workers
- Thread starter djk
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I don't think it's worth my time to engage with you. If you're oblivious to the "Free Market" devastation in the US and unable to derive any conclusions from that, well....I might as well try to talk to a Tea Party ideologue.Three pinkos!
Do not sell your self short
Let's see what's happening in N.America right now (worse in the US):RBC securities asking for unpaid free labour.
a. Under 30: no jobs or part time/volunteer positions. You slog and slog in the hopes of getting a foot in the door towards a career.
b. 30-55: you have a career but no job security. If you get laid off, you have to leverage industry connections to hopefully land a contract before severance (no severance in the "free market" USA because that's "communism") runs out and tide it over to retirement. If you can retire at 60, you're super lucky.
c. Over 55: good luck, you're on your own. It's not so bad in Canada because this is a socialist country but you can read about the US conditions: http://www.nytimes.com/2013/02/03/b...-hardest-hit-by-recession.html?pagewanted=all
What this does to the society on account of people in 20s and 30s being under or unemployed is that they defer having children, people are not too sure about buying homes and family life suffers. But hey, the "free market" might fix that too!These Americans in their 50s and early 60s — those near retirement age who do not yet have access to Medicare and Social Security — have lost the most earnings power of any age group, with their household incomes 10 percent below what they made when the recovery began three years ago, according to Sentier Research, a data analysis company.
24 domestic banks, ~25 subsidiaries, and 23 branch bank isn't a monopoly. Yes, there are some limitations, especially on personal banking, but that not the major business of many banks. Then there are 400+ credit unions. Yes, there are the big 5/6, but they are not a monopoly, just big, really big. They were bigger relative to the rest of the world at one time, but not now. RBC use to be the third largest in NA about 30 years ago, but not now.They have a charter that eliminates foreign competition, where is BofA, HSBC, WellsFargo, etc? They aren't allowed in except to do limited business. Seems to be a monopoly to me.
You're getting way too deep for CM.Let's see what's happening in N.America right now (worse in the US):
a. Under 30: no jobs or part time/volunteer positions. You slog and slog in the hopes of getting a foot in the door towards a career.
b. 30-55: you have a career but no job security. If you get laid off, you have to leverage industry connections to hopefully land a contract before severance (no severance in the "free market" USA because that's "communism") runs out and tide it over to retirement. If you can retire at 60, you're super lucky.
c. Over 55: good luck, you're on your own. It's not so bad in Canada because this is a socialist country but you can read about the US conditions: http://www.nytimes.com/2013/02/03/b...-hardest-hit-by-recession.html?pagewanted=all
What this does to the society on account of people in 20s and 30s being under or unemployed is that they defer having children, people are not too sure about buying homes and family life suffers. But hey, the "free market" might fix that too!
So how do you explain the massive government bailouts after the financial crisis?Dude
that system may not be perfect, however it fosters innovation, progress and the willingness to assume risk
free markets are the reason you are able communicate on the internet, buy pussy, have easy access to material goods as well as clothe and feed yourself.
they have cycles, some good, some not so good
However in the long run it is far and away better than any alternative
The surest way to fuck it all up is to have greater govt intervention or bigger govt
History has shown that state planned economies just do not work
If the top 400 people have more wealth than 50% of the population, then rest assured that those 400 people are the ones putting
How do you think companies like Microsoft, Amgen, Ford or even GE got started?
Good ideas, Part of he answer. But nothing happens without risk capital
Some rich dude was willing to put their money at risk.
Nitwits like you do not understand this and you want to change it , just because it does not seem fair
Well if you want a state controlled economy go try Cuba or North Korea & see how that feels
no uber rich people there, just poor ones
Hell even the Chinese figured out that state controlled economies (after 50 years of trying0 just do not work & have embraced capitalism like nobody before
Agreed^^this is right wing economics at work. replace employees with temporary foreign workers and unpaid interns not attending school
Yes. But look who you are arguing against. Knowing that the majority on TERB likely vote PC (it's obvious in this thread and many others), they likely have jobs that are currently unable to be off-shored. However, notice the trend... First produce-pickers, now IT services. Wonder what's next?The people only care when people come to take jobs that they are willing to, working at rbc is a lot different than picking produce.
NAFTA has been the biggest betrayal to the working class of North America according to Chris Hedges. Now skilled labor/good jobs are being taken away from Canadians, which is not fair to the people here that CAN do these jobs.
Telling J.L. that is like banging your head against a wall. He'll say 'supply and demand' and be done with it.Dude, we have the USoA where the unregulated, uncontrolled free market system has been proven to be a failure. Look at the wealth disparity, look at the fact that top 400 people have more wealth than bottom 50% of the population (that's 150 million people).......again: I don't propose throwing away the capitalist baby out with the bath water. Human beings need to strive to be better and work hard but that doesn't mean that corporations go cannibalistic and destroy middle class in N.America while finding modern day slave labor in China and India where they have no labor rights, environment regulations or anything close to what USA and Canada have built over the past 100 years!
S
**Sophie**
I think qualified Canadians should have first pick of jobs, and then everyone else. Just sayin' JMHO
Legal services (including junior lawyers), Medical diagnostic services, accounting services, financial analysis......ANYTHING AND EVERYTHING that can be done remotely from India or China.First produce-pickers, now IT services. Wonder what's next?
This is the reason why the under-30 crowd has no jobs, because everything that used to be done by new grads is now being done in India. The over-30 crowd are either working literally around the clock OR they know they could be next.
HelloExactly. "Protection".
So let's have these Big 8 banks and telcos work in Canadian interest and not the interest of India and China. A country of 35 Million people can't afford to do that.
They work for the interest of the shareholders.
Do you want to nationalize the banks ?
And you are oblivious to how the world worksI don't think it's worth my time to engage with you. If you're oblivious to the "Free Market" devastation in the US and unable to derive any conclusions from that, well....I might as well try to talk to a Tea Party ideologue.
But please continue complaining, everyone needs a skill !
The bailouts in Canada were to save the UNION jobs of GM and Chrysler workers whose unions made the two auto companies uncompetitive..So how do you explain the massive government bailouts after the financial crisis?
Yes, let's get rid of all the Russian and Swedish hockey players.I think qualified Canadians should have first pick of jobs, and then everyone else. Just sayin' JMHO
Im talking about the bailouts in the US...the ones that bailed out the free market loving financial sector. Come to think about it, how come the canadian government didnt need to bail out the canadian banks?The bailouts in Canada were to save the UNION jobs of GM and Chrysler workers whose unions made the two auto companies uncompetitive..
Actually, I'd love to see Gord Nixon move himself and his family and live in India and work for offshore level of wages and save RBC shareholders money and make RBC more profitable. Same for his head of HR.Why don't they replace foreign CEO too? Not going to see that happen.
I wonder why they don't do that? Since they all claim that they're working in the interest of the shareholders, I'm sure that the shareholders would love to save a few million on C-level compensation and what's good for the goose is good for the gander, right?
This is a Canadian Company with the majority of its operations in Canada.Actually, I'd love to see Gord Nixon move himself and his family and live in India and work for offshore level of wages and save RBC shareholders money and make RBC more profitable. Same for his head of HR.
I wonder why they don't do that? Since they all claim that they're working in the interest of the shareholders, I'm sure that the shareholders would love to save a few million on C-level compensation and what's good for the goose is good for the gander, right?
I am pretty sure the CEO & EVP of HR would not be very effective if they were re-located to India.
Unfortunately it appears your motivation is spite & you may not be capable of viewing this issue in a rational and objective manner.
Your statement is odd to say the least, child-like at best
Because Canadians did not borrow way more than they could afford to repayIm talking about the bailouts in the US...the ones that bailed out the free market loving financial sector. Come to think about it, how come the canadian government didnt need to bail out the canadian banks?
Some people called them bailouts. Others call them investments. I think the government bought their bank investments at fire sale prices and reaped huge profits when they liquidated their investments. If the government can take money (taxes) when times are good, then they have a responsibility to help when times are temporarily bad.Im talking about the bailouts in the US...the ones that bailed out the free market loving financial sector. Come to think about it, how come the canadian government didnt need to bail out the canadian banks?
