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Post by blueneck on Mar 10, 2007 12:56:52 GMT -6
The pundits are already spinning the weak job numbers , 97,000 last month as some sort of "good news". Huh???
And most were service sector. Manufacturing and construction continue to lose ground.
Most of the rust belt has higher than the national "average" unemployment - and these are some of the more populated states.
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Post by unlawflcombatnt on Mar 11, 2007 3:47:26 GMT -6
There've been 8 straight months of manufacturing job loss. And those are allegedly being compensated for by an increase in service sector jobs.
So there are more people employed in sales while less workers are producing anything to sell. We have more real estate agents to sell less homes to less buyers. We have more store clerks to sell more foreign imports to American consumers.
We're producing less and employing less production workers, but we have more people to sell goods and services. We're producing less wealth, but we have more people employed to redistribute that wealth, and more people to assist us in selling this decreased amount of wealth.
Service sector jobs don't create any real wealth. They just allow more people to extract wealth from what has already been produced.
As a doctor, people pay me to provide a service from the money they make. If they aren't creating any wealth, where do they get the money? Most get it from income from non-productive financial transactions, non-productive resale of someone else's production, or borrowing off artificial wealth created from asset inflation.
Little is being produced in the U.S. How can the "personal wealth" of Americans be increasing? Only through inflation of assets from the artificially increased demand from easy credit and easy borrowing. There's little real increase in "personal wealth."
Our economy is surviving on borrowed time with borrowed money. It is not sustainable. And every day we see new proof of this unsustainability, like the subprime loan decline, evolving into a generalized mortgage and housing decline.
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