20 reasons why the US economy is dying and is simply not going to recover. (debt, mortgage)

[70Ford]

20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

We haven't had a good doomer thread in a while.
I liked that mortgage chart. "You are here." That was awesome.

[Grandpa Pipes]

Getting this info out to the public is going to be hard if not impossible since the public ,IMO, in general is living in denial of the storm about to drown us all..

The water a risen' in the boat and nobody's got a pail ,without a hole in the bottom, to bail with!

[user_id]

A lot of that is just gibberish, of the things mentioned that are actually problematic...well they can be solved.

The only reason the US will "die and not recover" is if Americans fail to innovate and work hard.

[Grandpa Pipes]

Originally Posted by user_id

A lot of that is just gibberish, of the things mentioned that are actually problematic...well they can be solved.

The only reason the US will "die and not recover" is if Americans fail to innovate and work hard.

How can the public "innovate" or "work hard" when the jobs are all overseas?

America's industrial base is in ruin so if you don't make anything how can you generate new wealth or innovate to grow the economy? You can''t..........

[user_id]

Originally Posted by Tightwad

How can the public "innovate" or "work hard" when the jobs are all overseas?

Firstly the idea that "jobs are all overseas" is just hyperbole. The vast majority of Americans still have jobs even right now. Secondly, your standard worker is not going to be the one innovating...rather the entrepreneur. The your average worker can work hard though and can try to contribute to his/her community and nation.

Originally Posted by Tightwad

America's industrial base is in ruin so if you don't make anything how can you generate new wealth or innovate to grow the economy? You can''t..........

No, its not. All sorts of things are made in the US and more can be made if there is a will to do so.

Furthermore, industrial jobs are not the only sorts of jobs. Fewer and fewer are going to work in these sorts of jobs going forward due to technological innovation.

[jazzlover]

Yep, all 20 are dead-on true. The unmentioned #21--actually it should be Number 1--is our massive waste and depletion of our (and a lot of other places) cheap petroleum reserves and our continuing embrace of an unsustainable automobile-dependent living arrangement. A lot of our current problems have that as their underlying base. Of course, we're still in massive denial about that, too. So, it is going to be a rotten time economically for Americans for a very long time. The bigger question is whether or not our representative democracy can survive it. Given the quality--or rather the glaring lack of quality--of America's current national political leadership, I have real doubts about that. The crooks and idiots in American leadership right now couldn't lead this country satisfactorily in the best of trouble-free times; they are totally clueless in this environment. Of course, so are an awful lot of their constituents.

[StoneOne]

The article showcases serious problems very well, and I think it's safe to say that the era of absolute U.S. economic leadership has already come to an end.

That said, the U.S. still has a lot of underlying value that will allow it to deal with its debt problems in way that may be unpleasant but won't be Armageddon. Among the factors contributing to underlying value:

1) Rule of law - arguably about the best in the world
2) Continued attraction of immigrants
3) Best universities and R&D overall
4) Wealth of natural resources
5) Major debt weaknesses in our closest competitors (i.e., the EU)

[Grandpa Pipes]

Originally Posted by user_id

Firstly the idea that "jobs are all overseas" is just hyperbole. The vast majority of Americans still have jobs even right now. Secondly, your standard worker is not going to be the one innovating...rather the entrepreneur. The your average worker can work hard though and can try to contribute to his/her community and nation.


No, its not. All sorts of things are made in the US and more can be made if there is a will to do so.

Furthermore, industrial jobs are not the only sorts of jobs. Fewer and fewer are going to work in these sorts of jobs going forward due to technological innovation.

Everything you refer to is hard to do on minimum wage jobs. The workers in America are all competing in a race to the bottom.

[user_id]

Originally Posted by Tightwad

Everything you refer to is hard to do on minimum wage jobs. The workers in America are all competing in a race to the bottom.

Its hard to work hard and help your community and nation when you're making minimum wage? Why is that?

Also, the people making minimum wage are generally speaking not the ones that are going to be innovating and creating new companies. But the vast majority of the workers in this country are making more than minimum wage. Even jobs that require almost no skills, like fast food, provide raises for valued employees.

[Grandpa Pipes]

Originally Posted by user_id

Its hard to work hard and help your community and nation when you're making minimum wage? Why is that? I don't get what you're driving at here.

Also, the people making minimum wage are generally speaking not the ones that are going to be innovating and creating new companies. Really? How so? But the vast majority of the workers in this country are making more than minimum wage. I kinda doubt this at least not a "vast majority". Even jobs that require almost no skills, like fast food, provide raises for valued employees.Only as a way to keep drug free employees.

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