Quote:
Originally Posted by lovecrowds
https://thehill.com/policy/finance/4...vel-since-2008
https://www.bls.gov/news.release/empsit.t17.htm
No wonder trade deficits and government deficits are skyrocketing.
How many consultants? managers? social workers? analysts? designers? lecturers? government workers? debt-hustlers? realtors? brokers? can an economy have.
A vast majority of the service industry is either government spending completely, heavily government subsidized, heavily financed by debt.
20 million goods-producing jobs, 22 million government jobs and 105 million service-sector jobs
The economy seems like a huge pyramid scheme. Only 6% of American population works making tangible products.
So much of the economic growth is jobs from companies that are swimming in debt, debt hustling finance jobs are skyrocketing also, heavily government subsidized health care, education and social assistance is also on a roll.
Lots of jobs in the service are heavily indebted companies and than there is the massive amounts of health care and social service jobs that are majority government funded and subsidized.
Goods-producing industries are tangible. Nothing more America than constructing housing and buildings, manufacturing tangible products that can be used for decades or traded with other countries and mining American coal, oil, natural gas and other minerals from the surface to enhance the world
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That's one way to look at it.
The other way - is to take the amassed capital and start moving it around the globe, creating the jobs and "secondary markets" for corporate goods. In the process, two things suppose to happen; number one - increase of profits for the few on top, and increase of domination of the Wall Street/American corporations around the world.
The downside of it of course, was the drop of the living standards for the rest in the US ( while the living standards in the third world countries went up, since for the creation of the secondary markets it was a necessity.
Besides, now the US corporations had to share their profits with the local elite of the third world countries, since they wanted their cut for helping in "arrangements." This, in turn, yet again diminished the "trickling" part of the "trickle down economy" back home in the US.)
When back in the nineties I remember Americans were asking what they were supposed to do, when the jobs were increasingly shipped overseas, they've been told that "college education" was the answer.
So by now a good chunk of American population is "college educated" with worthless degrees as the result of it all.
And now you are complaining about the "huge pyramid scheme?"
Why?
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