No, everything is NOT ALRIGHT with the US economy

Discussion in 'Economics & Trade' started by LafayetteBis, Jul 22, 2019.

  1. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    From here: Trump Says U.S. Economy Is 'Best It Has Ever Been,' But Facts Tell A Different Story - excerpt:
    Yes, the economy has recovered from the Great Recession, and not the "goodness" has not been for everybody. Which is the true measure of how well an economy is functioning.

    And the reason is that we are exiting the Industrial Age and entering the Information Age, where a higher post-secondary diploma showing credentials is necessary for a decent job.

    Yes, all the metal pot-bashing and plastics has left our shores and high-tailed it the Far East - and we helped that along because of our bent to buy the "cheapest price, cheapest price, cheapest price".

    What goes around, comes around in this Brave New World of ours ...




     
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  2. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    And furthermore (from the same document linked above):
    This is not the first time (and wont be last) that I have harped about Market Consolidation that has been rampant over the last 30 years in America. The consolidation has ruined internal competition as markets "agglomerate". Which is called in economic circles "oligopolization".

    The key effect upon market-competition is to reduce it from the many contestants to the few. And why do we let that happen. Because companies settle into a cozy mutual-pricing mechanism that diminishes competition and increases corporate revenues of the "winners".

    Over the past two decades the US has embarked upon a rabid "buy-out" of market participants (that has made millionaires of some lawyers) that reduces competition but is entirely legal. There is NO EVIDENT&PROVABLE COLLABORATION amongst market contenders. It all happens "naturally" because governments (both Replicant and Dems) tacitly allow it to happen.

    Even under the Obama Administration there was no forceful effort to maintain competitive but open-market competition. But, where's the proof? Start here:
    *The New Yorker (April 15, 2013]: The Oligopoly Problem - excerpt:

    *Washing Center for Equitable Growth (March, 2017): Market power in the U.S. economy today - excerpt:

    And so, the question remains, "If the above recognizes the problem, then what is the solution" ... ? (And don't go looking for answers at the responsible administration - because the Justice Department doesn't even recognize the question!)
     
    Last edited: Jul 22, 2019
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