US economic growth

#26
#26
Vol Main said:
Why? Because the wealthiest Americans have moved so much money into offshore tax havens that the economy cannot function as it should be functioning. Putting money into peoples' pockets increases demand which leads to increases in supply and general economic activity. You should know that the annual budget cannot accommodate a $100 Trillion stimulus. Even if it could, it's hard to spend that much money with effectively reasoned processes. It is not what is needed.
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Sorry, the real lesson is that globalism has moved so much manufacturing out of the US that we are really dealing with the fact that without workers and their incomes you have no consumers. In this case covid and shutdowns drove the point that everybody is trying mightily to ignore. Service industries alone don't get it; you have to have manufacturing; you have to put in labor (sweat equity) to make something worth more than the sum of the material input. Wealth is derived from the labor and the ingenuity used to turn raw materials into a finished product.
 
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#30
#30
I recall hearing how the US economy was moving towards a service economy and away from a manufacturing economy 30 years ago and thought to myself that would be the biggest mistake in the history of the country. You can't buy a toaster, an IC chip, cell phone or anything else people use everyday made in the US anymore. We're screwed and China owns us. We just better make sure we keep those 8" floppy discs running our nukes away from magnets.
 
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#34
#34
VolStrom said:
I recall hearing how the US economy was moving towards a service economy and away from a manufacturing economy 30 years ago and thought to myself that would be the biggest mistake in the history of the country. You can't buy a toaster, an IC chip, cell phone or anything else people use everyday made in the US anymore. We're screwed and China owns us. We just better make sure we keep those 8" floppy discs running our nukes away from magnets.
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Friction in the system - fuel, overhead, and especially taxes and regulatory fees - all insure a constant drain on the cashflow needed to sustain a service economy. Since most of it is really maintenance (even food preparation), the capital drain essentially grinds it all to a halt. There is no such thing as perpetual motion, and the cost of minimal government alone would be the parasite that kills the process even without the constant benefit expansion that accelerates the end.
 
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#39
#39
While I realize there are many in need, in the end all this debt is nothing more than fire starter cocktail. But hey, shutdowns work! Enjoy the show.

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#42
#42
Orangeburst said:
They are ruining us AM...and we sit and watch. What happens after will be the true totalitarianism
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There's almost no real analysis of anything these days, and a lot of it has to do with the divide and conquer concept. If you can group people into opposing camps, then there is no need for real analysis; you just push opposing party lines. As long as there is a pro and con based on assumptions, hopes, desires, etc, then reality is of no consequence ... until unravels; and as you say, that's when totalitarians step in to slow and control the demise - for their benefit.
 
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#47
#47
Remember when Trump had 37% growth in one quarter? Just as stoopid as this thread and CNN
 
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#50
#50
VolStrom said:
I recall hearing how the US economy was moving towards a service economy and away from a manufacturing economy 30 years ago and thought to myself that would be the biggest mistake in the history of the country. You can't buy a toaster, an IC chip, cell phone or anything else people use everyday made in the US anymore. We're screwed and China owns us. We just better make sure we keep those 8" floppy discs running our nukes away from magnets.
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What's the more valuable skill - having the idea for designing the iPhone, or being able to follow the instructions on how to assemble one? There is a gigantic pool of labor that exists today where the lower value-added tasks will go.

The US will be in trouble when the high-end skills and intellectual content are not here.
 
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