Massachusetts’ economic growth slowed significantly over the summer while the national economy showed a modest pickup, according to two reports released Friday.
The diverging trajectories highlight the difference between the consumer-driven US economy and the Massachusetts economy, which is more dependent on business spending. Nationally, consumer spending increased solidly while overall business investment declined.
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It's no wonder the Massachusetts economy is stumbling, some of its biggest employers are busy off-shoring thousands of Massachusetts jobs and the Boston Globe continues to not report this story despite its huge impact on all of us.. You can thank Mayors Menino and Mayor Koch for facilitating firms like State Street Corporation's efforts to send 750 Fund Adminsitration jobs to INDIA in a JV or Joint Venture with SYNTEL (SYNT) Corporation of Troy MI. Indian nationals are being trained on the thuird floor of the John Hancock tower to take jobs like Financial reporting, Fund Accounting, SEC/IRS Compliance, and Custody controller positions, which are perfect for College Grads or anyomne else for that matter who is looking to enter the workforce. State Street is essentially using an $11.5 Million tax break from the you to train INDIAN nationals to take jobs that your college aged kid would have had if Mayor Menino put his foot down and refused to give tax breaks to a frim that is in the process of sending 750 Boston Jobs to INDIA in order to make the CEO, Jay Hooley and his Joint Venture Director - Allen Greene, incredibly wealthy. THIS IS WHY the Massachusetts economy is floundering, its now mystery as the Globe pretends it is....