US Decoupled, Depressed and Unemployed
The rest of the world is partially decoupling from the US economy. When you look around the world, you find that many nations are doing fine economically while america is stuck in depression. How can this happen you ask? Hubris.
The US felt it could simultaeneously export jobs overseas to enjoy cheaper goods, automate to improve productivity and regulate business to provide some futuristic utopia where unicorns danced beneath rainbows. Instead we have destroyed the greatest job creating economy that the world has ever known by exporting jobs and introducing automation. Read Zuckerman for the details.
The motives may be altruistic, but it killed america's economy in extremis. As real wages declined over decades, our leadership decided that manufacturing stuff cheaply overseas would make americans feel wealthy. These same leaders believed that simply automating manufacturing would keep the US globally competitive and retain just enough jobs to satisfy americans. They also thought that they could shift maufacturing pollution overseas without compromising america's wealth.
But fantastic investment returns from overseas business caused a stampede of exported jobs. Simple greed of individual investors, pension funds and corporations gutted america's manufacturing base until nearly nothing was left.
The wealth generated from overseas investments made americans feel wealthy, so they bought their McMansion, asked the governent to regulate everything and to top it off, redistribute income to the lower class so the americans would feel better about themselves.
But the foreigners were smarter than americans and demanded a controlling share of the overseas enterprises. They used their control to look out for the interests of their own nation, unlike americans who only sought wealth. Now that they have arrived, they are figuring out how to manufacture what they need and keep US exports out.
In the mid 80s I complained when the company I worked for exported semiconductor manufacturing equipment to Shanghai. I believed that we were cutting our own throats. Management laughed at me and said the US would always rule the global semiconductor industry. Now the Asians have 1.5 million semiconductor jobs while the US has 166,000 and declining jobs. Who's the fucktard now?
Unless americans can lookout for themseves first and have value for this nation, it will be in perpetual decline. Chasing wealth alone is a fool's errand. I don't hold out much hope because things have gone too far and there is no us in the US.
The US felt it could simultaeneously export jobs overseas to enjoy cheaper goods, automate to improve productivity and regulate business to provide some futuristic utopia where unicorns danced beneath rainbows. Instead we have destroyed the greatest job creating economy that the world has ever known by exporting jobs and introducing automation. Read Zuckerman for the details.
The motives may be altruistic, but it killed america's economy in extremis. As real wages declined over decades, our leadership decided that manufacturing stuff cheaply overseas would make americans feel wealthy. These same leaders believed that simply automating manufacturing would keep the US globally competitive and retain just enough jobs to satisfy americans. They also thought that they could shift maufacturing pollution overseas without compromising america's wealth.
But fantastic investment returns from overseas business caused a stampede of exported jobs. Simple greed of individual investors, pension funds and corporations gutted america's manufacturing base until nearly nothing was left.
The wealth generated from overseas investments made americans feel wealthy, so they bought their McMansion, asked the governent to regulate everything and to top it off, redistribute income to the lower class so the americans would feel better about themselves.
But the foreigners were smarter than americans and demanded a controlling share of the overseas enterprises. They used their control to look out for the interests of their own nation, unlike americans who only sought wealth. Now that they have arrived, they are figuring out how to manufacture what they need and keep US exports out.
In the mid 80s I complained when the company I worked for exported semiconductor manufacturing equipment to Shanghai. I believed that we were cutting our own throats. Management laughed at me and said the US would always rule the global semiconductor industry. Now the Asians have 1.5 million semiconductor jobs while the US has 166,000 and declining jobs. Who's the fucktard now?
Unless americans can lookout for themseves first and have value for this nation, it will be in perpetual decline. Chasing wealth alone is a fool's errand. I don't hold out much hope because things have gone too far and there is no us in the US.
posted by lugh lampfhota at 8:30 PM
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