Service Sector shrinks..our bread and butter (real estate, debt, companies)

[HappyTexan]

Be prepared..it's coming.
Service sector shrank "unexpectedly" to below 50 which is a sign of contraction. Don't know who was surprised by this though..this number should have been expected.

And service makes up 80% of US activity now so this is bad news.

Services sector shrinks sharply in October: ISM - Yahoo! News

[gwynedd1]

Originally Posted by HappyTexan

Be prepared..it's coming.
Service sector shrank "unexpectedly" to below 50 which is a sign of contraction. Don't know who was surprised by this though..this number should have been expected.

And service makes up 80% of US activity now so this is bad news.

Services sector shrinks sharply in October: ISM - Yahoo! News

Hi HappyTexan,

Just about every gardener can comprehend the "complex" economics behind this. When they turn the valve to the left they get water pressure but unless they let water out the end of the hose nothing will be watered. As I have been saying the bailout is meaningless without addressing that our currency is a debt instrument. Because people cannot take on more debt and the real estate sponge is soaked the system can't take anymore.
Until someone can explain to me the mechanics of how we are going to make people take on debt in a depression who have little or devaluing collateral, I am going to keep posting things expressing my complete bewilderment.

[tallrick]

I say good riddance. We really do not need such a large service sector. Only need service technicians and let people do their own housework.

[HappyTexan]

Originally Posted by tallrick

I say good riddance. We really do not need such a large service sector. Only need service technicians and let people do their own housework.

Don't say good riddance to what drives the economy. This will make things worse. Production will NOT be coming back to the US.

How do you recover from a deficit driven economy ?

[hindsight2020]

Originally Posted by HappyTexan

Don't say good riddance to what drives the economy. This will make things worse. Production will NOT be coming back to the US.

How do you recover from a deficit driven economy ?

Why do you think I DIDN"T vote this election cycle? Precisely BECAUSE I want to see America shed it's dependence on the service economy (the two party system won't change that). Like gwynedd said, you can't continue concocting ways to increase the pressure on the hose as a solution, while totally disregarding the fact that the end of the hose is plugged and won't let water out! You can't sit on your hands and say "uuuuuuhhh, we need the service economy cause we just don't know any better, so we better keep propping this sucker cuz manufacturing ain't coming back...uhhhhhh". I just don't subscribe to the assertion that the service economy is all we got folks and good night. That's what keeps us trying to prop up the current crappy concessionary system.


It all revolves around the instruments of debt we use as currency, the rest unfolds from there. The methodology by which you free yourself from such currency has been discussed on this forum in length, but no one in power will hear it. Get rid of the fed by systematically raise the reserve requirement as you clear the debt, take away the private banks ability to create money out of thin air, give the people's government the sole right to create money (as our non-Hamiltonian forefathers envisioned), then shake the system into an economy that's incentivized to produce instead of using debt as "currency". There ya go service economy gone.

So yeah good riddance is right. The only way you get Americans to act is when you attack their personal checking account. Maybe they'll stop watching the football game for once and amass enough popular inertia to create the kind of economic base needed to solidify our position, and kill the service economy racket once and for all. Will it happen? I doubt it, baby boomers are trying to hold on to this thing, politically at least, a little while longer before it all implodes on our grandchildren.

[GeminiGal]

Do you D&G types really hate this country so bad that you can't wait to see the rest of us down on your level? Will you be happy then? Sorry, but I for one have plenty of fight left in me that I won't let you win! Go service sector !!! I think I'll go take some clothes to the cleaners now!

[HappyTexan]

Originally Posted by hindsight2020

So yeah good riddance is right. The only way you get Americans to act is when you attack their personal checking account. Maybe they'll stop watching the football game for once and amass enough popular inertia to create the kind of economic base needed to solidify our position, and kill the service economy racket once and for all. Will it happen? I doubt it, baby boomers are trying to hold on to this thing, politically at least, a little while longer before it all implodes on our grandchildren.

I totally agree with you but we don't have a good path to get there.
Big box has driven most of the local vendors out of business.
Big Corp has off shored most of their manufacturing.

Gov't favors big business over their own citizens.

It looks like the only path is to crash and burn and then pick ourselves up and start all over again.

[hindsight2020]

Originally Posted by GeminiGal

Do you D&G types really hate this country so bad that you can't wait to see the rest of us down on your level? Will you be happy then? Sorry, but I for one have plenty of fight left in me that I won't let you win! Go service sector !!! I think I'll go take some clothes to the cleaners now!

Yeah I hate this country sooo much I serve in her defence as a US military Servicemember. Yeah, you got me, I hate her, that's it. ...*ugh*

This country needs some tough love. There's no free lunch, put the lollie down and buck up. The service economy is a racket and more specifically a concessionary siphon of wealth; our recent collective standard of living is a facade. "Our" corporations are the epitomy of treason and our complacency has allowed said institutions to take away the Republic from our hands. Your rooting for the service economy is like a marksman with parkinson's; it's so misguided one doesn't know if to treat it or pity it. It is also endemic of Americans, always "voting" against their economic interest, most of the time while not knowing about it, which is the disturbing part to me.

It's hard to tell the baby that taking away the candy that's killing him is good for him, in spite of his observation that it doesn't FEEL GOOD. You call it hate, I call it perhaps the purest form of patriotism, and I didn't even vote. Feel free to miss the point though....

[texdav]

Well if we get out of iraq you will see service memebers being cut just like after dessert storm. They will eliminate many by their fitness reports first and then other factors. Had a load of them that came to work for my company after DS.Felt sorry for them as many had like 9 years and wanted to reitre military.What branch are you in;been to Iraq?

[Full-Blooded American]

Originally Posted by HappyTexan

Production will NOT be coming back to the US.

It will if we tax unpatriotic companies to the point where they have no choice but to hire Americans.