The Jobless Summer - only 1 in 4 teens employed in US

Already said. It refers to a reduction in the importance of industry (typically defined in employment or share of GDP terms), but one also needs an appreciation of how economic evolution (referring to the consequences of productivity and income growth) differs from coerced problems (such as Thatcherism).

Outsourcing blubbering ain't going to be useful. It essentially corrupts aspects such as product lifecycle theory (and the consequences for capital mobility) and ignores the consequences of the innovation process

 

think about it for a moment.....most of the industry went to china correct? Interesting how now there is a huge trade imbalance with china and how china has this huge foreign exchange reserve

 

Teach yourself Macro 101. Any trade imbalance reflects the savings rate.

 

teach yourself "REAL" economcs...not that keynessian crap.....china will soon take over the US as the dollar loses its reserve status...and you can put the blame squarely on this de-industrialization...that and fiscal mismanagement of course!

 

You're ignoring economic reality in order to push an ideology (an ideology inconsistent with libertarianism too).

This is very basic stuff:

[Y-T-C] (i.e. private saving) + [T-G] (i.e. public saving) + [M-X] (i.e. foreign saving) = I

That's all you need to refer to how the trade imbalance reflects low private saving (i.e. X - M = S - I). Simple identity!

 

that doesn't explain why through trade imbalance china has developed a huge foreign exchange reserve and is using those funds politically to increase its dominamce all over the globe.....in greece by buying greek bonds they are forcing the greeks to political idealogies as gratitude for china's help......same in portugal...even here in canada they purchase companies that would of otherwise gone bankrupt and use the companies as leverage.

My point is simple.....china is slowly but surely taking over....the USA is too blind to know it yet!

 

Standard boo-hooing over the relative decline of the US! This produces all sorts of dangerous thinking and encourages a skewing of policy away from rationality. Accept your lot andd focus on maximising the potential of the economy: high minimum wage and support of technical progress

 

Did you figure that out for yourself, or did you hear it from Glenn Beck? I heard him saying exactly the same thing.

 

I have not watched Glen Beck for years now.....but what I just said is common knowledge with many austrian thinkers so it dont surprise me!

 

Austrain thinkers? A 1930s variety perhaps! The whinge about US relative power is merely imperialism 101, an approach that has led to influence cost disaster such as the military-industrial complex

 

Imperialism is good if you do it right. If you call the middle east wars imperialism, then it's a bad thing. The western expansion of imperialism was a good thing.

 

the military industrial complex is probaby the only thing left that the US can export.....things like missels or fighter planes....they have offshored everything else!

 

Ex-laborers from the manufacturing lost are filling the service sector, which was typically the entry level for teens. Now, they are all being lured to college, for indoctrination of globalist thought, a lifetime of debt, just to find out in the end only 1 in 4 will still be employed.

 

Military-industrial complex analysis refers to how waste is inflamed through a lack of accountability. Add in the effects of 'spin-in technologies' and the effects of the arms industry can be substantially negative

 

yes I know that anything the government touches is extremely wastefull, but the point I was trying to make is that its the only thing that has not been offshored so its the only thing that can still be exported!

 

Technically agriculture is the only thing still being protected. Those rich people can't offshore, already use illegals for cheap labor here, so of course the government for higher swings that way in said industry because those rich want that industry protected. What a great government we have. So noble. So ethical. We needed to fight yesterday. We should have fought today. No doubt, excuses will be made to mask the cowardice of our people tomorrow.

 

as I have said many times this will not end well

 

You don't have a point. You misunderstood the nature of MIC analysis and have twinned it with 'end is nigh' nonsense over outsourcing. A standard right wing avoidance of economic comment!

 

Perhaps, this is really all they've got?

 

ya think? then tell me what all those unemployed workers are supposed to do? If you want to have consumer spending increase then you need to have consumers with money!

 

what we have is facts and not a bunch of keynessian witchcraft formulas!

 

No. The problem is they take a bunch of theories and say it is exact science, when there is a counter theory for every theory. Only the theories to which support what they want are deemed "credible" from "credible sources". They use economic terms out of context hoping no one will catch on. The favorite being "comparative advantage", which has everything to do with companies making what is best on a local scale, but they have turned into global conglomerates treating labor as a commodity, which is actually absolute advantage. They pretend to encourage people to learn economics, but truly, the last thing they want is for workers to know what they're talking about. They would be hung as traitors by morning. It is simply selling out their home markets as long as the government will allow them to do so, via an ignorant, and/or scared of said elitist controlled state apparatus, public.

 

No, you have deliberate avoidance of economic analysis. Randomly throwing in some nonsensical reference to Keynesianism won't hide that

 

And that's a proper shame! Question for you: Why do you think the US, compared to other Western countries, has such an abundance of low paid labour?

 

Invest more in science and technology. That's all you need to know about economics.