Bureau of Labor Statistics Wrote:
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> But seriously, I can quote BLS statistics all day
> long without mentioning the fact that the faux
> hyperstimulation of the economy that created the
> trickle-down illusion of prosperity by its
> citizens PLUS the record deficit, record foreign
> borrowing and the two wars were the precipitating
> factors behind the statistics that I so quote.
>
This is a valid discussion. The fact is the Federal deficit has been shielding the reality that since the 2000 recession, America hasn't been generating new jobs as a result of wealth creation. Instead, the Federal government has been subsidizing job creation (first through war spending and the housing bubble - artificially low rates and overly lax regulation - and now through the stimulus package).
America's ability to generate wealth has been exported to India and China. Fundamental economics dictates that wealth is generated when raw materials are processed into value-added items through manufacturing or some other method. That doesn't take place in America now on the scale needed to maintain our current standard of living. Instead, we are shipping our raw resources and garbage to China to be processed while Americans work as door-greeters at Wal-Mart. It is an unsustainable model.
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http://bible.cc/1_corinthians/13-11.htm
Edited 1 time(s). Last edit at 01/23/2010 10:47AM by WashingTone-Locian.