This is an inaccurate description of the "service sector", and you can't, just as willie green tried and couldn't on other threads, dispute the constantly rising standard of living over the last 30 years across all income levels while manufacturing jobs were steadily disappearing.
Funny thing ....during the same 30 years educational standards amongst our population have been falling. It is morally repugnant and economically dangerous that we abandon our manufacturing and pursue the "cleaner" occupations.
What is occurring in the Middle East is a blue print for every other corrupt and incorrigable regime we cater to to support our insatiable desire for cheaper and cheaper goods.
The "Thugs" are the regimes who use the Clintoonian method of triangulation to appease their workers( read damn yankee imperialists ) and keep their exports( read cheap goods to USA ) moving.
Gordon Gecko was wrong! Greed is not good
"greed" is good, without everyone pursuing their self-interest, you have no economic efficiency at all, and you wind up with a soviet-style economy that serves nobody well
Well, there is a difference self interest is different from aa insatiable appeptite for money and power.While they are really different points on the same line they are as different in degree as the temperature of Mercury and Pluto. The Nasdaq and NYSE excesses exposed how far we have moved away from a healthy self intersest toward greed.
What have we really saved by buying products that have consumed steel a below cost prices? An overvalued stock market bubble that has burst and an overvalued real estate market bubble that is about to burst.
If you like the first act in Japanese, you will love the next act in English.
true, and this is the single thing that most threatens future standards of living. uneducatedand unskilled morons will no longer be protected and saved by union extortionists
It is morally repugnant and economically dangerous that we abandon our manufacturing and pursue the "cleaner" occupations
morally repugnant? hardly, it's economic reality and inexorable as capital seeks profitable uses
and, "we" aren't abandoning anything, decisions are made by thousands of individual owners and investors, and have nothing to do with how "clean" a business is
Well, there is a difference self interest is different from aa insatiable appeptite for money and power.... The Nasdaq and NYSE excesses exposed how far we have moved away from a healthy self intersest toward greed
which only means that people act stupidly at times
markets are about mass psychology, and always get overdone on both the upside and downside, and always will unless the laws of human nature are repealed
stupidly pursued self-interest results in lessons learned and a return to reality
What have we really saved by buying products that have consumed steel a below cost prices?
obviously, the amount of the foreign subsidies, and we should thank the foreign idiots for continuing to throw money into their bottomless subsidy pits
an overvalued real estate market bubble that is about to burst
on this we agree, the party in real estate has ended and the next few years will be grim
If you like the first act in Japanese, you will love the next act in English.
exactly, and i doubt that greenspan has a clue yet, even after 10 futile cuts