Daniel, our full employment rate is decreasing, and we have lost jobs during Busch’s tenure. The economy would meet my standards of doing well if we were as productive as our consumption. As it is today, our economy produced $330 billion per year LESS than we consume. So we have become a debtor nation.
ach year, more types of jobs are outsourced to countries with an educated lower-paid work force. I had read about radiology outsourcing some years ago, but thought that surgery was a safe profession. Not any more. Elective and scheduled expensive surgeries are now outsourced, as are CPAs (thousands of Ernst & Young CPAs are Indians). Lawyers?
Daniel, what are the millions of new jobs that you refer to?
Yes, living standards improved, but only because China is willing to give us IOUs; once they cannot continue doing so, our standard of living will come crashing down to the level where we can consume only what we produce. Any country that consumes more than it produces, or whose work force cannot afford the goods it produces, has a weak economy. Perhaps the US economy can turn around, but it is not looking good at all. It is downright scary.
Daniel says the economy does “pretty well”, and “overall we’re in pretty good shape”. That doesn’t sound very convincing. Do you mean we are average, chugging along, or do you see any hopes for improvement? Will we ever leave behind the debtor nation label and become a producer nation again?
What bright spots does anyone on this forum see for our economy?
