Glenn Beck finally gets what I said in 2008: We have destroyed America’s productive capacity

by 1389 on August 6, 2013

in "Obamacare", "The Great Recession", 1389 (blog admin), outsourcing, tuition bubble, unemployment

Here’s an excerpt of what I said in 2008 – before “Obamacare” and before the bursting of the tuition bubble:

The scope of the problem

See for yourself what already happened to a part of the US that lost its productive capacity:

With trees growing up through abandoned buildings, large parts of Detroit have already come to resemble scenes from the grim speculative documentary Life After People.

By now, the US economic decline has spread far beyond Detroit and the Rust Belt.

Think about it: When was the last time you saw the label “Made in USA” on any product, good or bad?

And no, it is not possible to sustain a “service economy” without a viable manufacturing infrastructure. Not that there is a service economy to sustain – the real estate bubble has already burst, the remains of our financial sector are being artificially propped up with money that we do not have and cannot earn, and much of our service sector employment has already been outsourced! It should surprise no one that the unemployment picture is considerably worse than the official figures would lead us to believe (see The really, really bad news about the unemployment rate). Newspapers throughout the US report that state and local tax revenues are shrinking due to declining income and property values.

What is left?

I recently heard yet another self-styled pundit of the US employment scene recommending three areas where there still seem to be some jobs for Americans. The only available jobs are in health care, education, and government work – because they cannot be outsourced.

Wow.

Will someone please explain to me who is going to pay for this health care, education, and government work? Does anyone care to predict what will happen after we go into debt to educate the next generation, knowing that there will be no jobs for them after they finish school?
[…]

Glenn Beck: Economic Woes

http://www.youtube.com/watch?v=xOeTiQ62PGM

Published on Aug 5, 2013 by RightSightings

Glenn looks at a list of the top 5 companies in the U.S. in 1955 compared to today.
The Blaze

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