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Thread: We were warned of the economic collapse, and we ignored that warning...

  1. #21


    Quote Originally Posted by Mycroft View Post
    I thought a huge part of the problem is that America doesn't have any big businesses -- large producers -- anymore? (Asking, not being sarcastic.) I.e., that we have all of these ancillary (or parasite, to be less flattering but perhaps more accurate) industries like the so-called "finance" industry shifting money around according to voodoo formulas and producing precisely squat.
    Well, I agree that the lack of real productive industry is a problem for the US economy. People can go on all they want about the service economy, but at the bottom of the economic system one must have real production generating real income or there won't be anyone who can afford to pay for all those lovely services.

    That said, rumors of the death of US manufacturing are greatly exaggerated. I myself am sitting right now in a pharmaceutical manufacturing plant, a two-minute walk from the sound of a production line conveyor belt.

  2. #22
    Senior Member Array
    Join Date
    Nov 2009


    China is now the second largest slurper of oil, and probably the biggest exporter now. Be afraid, be very afraid =]

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