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A comment on How does the economy work? A new Fed paper suggests nobody really knows. Parent comment

Re:How does the economy work? A new Fed paper suggests nobod... by G3rn0ti on Sunday October 03, 2021 @10:01AM (#28737195)
> Maybe that’s true, but it also hollowed out the U.S. manufacturing base and consequently the middle class.

Citation needed.

Edit: Just as a counter point consider reading this article: https://www.latimes.com/opinion/op-ed/la-oe-schiller-shrinki...

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Re:How does the economy work? A new Fed paper suggests nobod... by TrispusAttucks on Sunday October 03, 2021 @10:23AM (#28737370)
[1] China really is to blame for millions of lost U.S. manufacturing jobs, new study finds

[1] https://www.marketwatch.com/amp/story/china-really-is-to-bla...

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Re:How does the economy work? A new Fed paper suggests nobod... by ItsMonkk on Sunday October 03, 2021 @11:24AM (#28737880)
I encourage everyone who cares about this space to watch the 1994 Charlie Rose episode with Sir James Goldsmith[0]. He nailed it.

[0]: https://www.youtube.com/watch?v=wwmOkaKh3-s

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Re:How does the economy work? A new Fed paper suggests nobod... by naasking on Sunday October 03, 2021 @10:27AM (#28737414)
The middle class in cities is probably doing fine. Rural areas not so much, and that's where the manufacturing base was gutted. Offshoring has had a large negative impact there and also made our supply chains more fragile as we found out during COVID. These facts are a big reason why Trump's anti-China message really resonated in those areas.
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Re:How does the economy work? A new Fed paper suggests nobod... by notfromhere on Sunday October 03, 2021 @12:55PM (#28738576)
Cities had pretty substantial manufacturing bases before deindustrialization.

Middle class in cities is shrinking, and most American cities of any notable size are split between knowledge workers and a service worker underclass. That’s why so many American cities are split between very nice neighborhoods aNd those that resemble 80s Detroit.

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