Recently, Spawny Get linked to an RT economics opinion program that had a nugget of wisdom in it. In the old economy, workers were valued for their contributions in labor, their ability to save, and their need to consume. In the present econmy, they can’t compete with Chinese wages and their savings are small potatoes compared to what the Fed can generate. As for consumption, that is all he has left. and he can’t compete against women who can spend all their money and their husband/boyfriend’s too. Now I am beginning to understand why men are taking a backseat in this economy and it is being socially enforced through government.
I would like to know how an economy can operate without a balance between production and consumption. Well, it seems to through borrowing and that is what has gotten us to owing more in the national debt than we make in a year by the gross domestic product. Conventional wisdom has it that if you owe more in credit card debt than you make in a year, you are effectively bankrupt.
Labor is not valued. Factor in inflation and there has been no improvement in wages since the seventies. Nearly all manufacturing has been moved overseas. Manufacting matters because it adds value and it’s highly produtive. Service jobs can’t be because most of them involve dealing directly with the public.
Savings have no value compared to what the Federal Reserve can generate out of thin air. This is reflected in the embarassing rates that banks will pay.
That only leaves consumption. While I think its overstated. women are purported to spend eighty fie cents out of every discretionary dollar. What I think could well be true but, it is what business, industry, and government believe. That goes a long way to explaining why you can’t turn on a TV without seeing ads that bash men. Women are superior consumers and they need to flattered. They don’t care that it is at the expense of men.
Finally, our legislators have done nothing to address the abuses that led to the Great Recession. They have kicked the can down the road and it will happen again. That may be a good thing because someone may see that there needs to be a balance between consumption and production.
It may happen in China first. They have taken on a lot of debt to build cities that aren’t lived in. Then, there is the story of auto workers there not being paid enough to own the cars they make.
I hope this starts a good thread. Feminism is insididious and seeks to run the economy. There is only one problem. They have not considered that wealth has to be generated.