Re:The coming long-run slowdown in corporate profit growth a...
by consteval on Thursday September 05, 2024 @12:56PM
(#41458443)
> It’s hard to image scenarios where the American economy shrinks while other countries have growing prosperity
I don't understand this viewpoint - this seems like the obvious end result of the last 50 ish years of tomfoolery.
The US doesn't make anything anymore, our economy is purely theoretical. We're lying on a huge scale and scamming, and that's how we have our economy. We gave up entire industries - and almost all of them - to foreign countries. China, Korea, Japan, Bangladesh and on and on.
Yes, these companies are "American". In name only. All the capital, all the means of production - which is the actual "economy" here - is being held by not us. We literally just gave up our means of production.
What we did then is made up a bunch of fake jobs to justify these companies in the US and to extract money from these developing countries.
It's only a matter of time before they wisen up and realize they have all the capital.
Granted, not all industries are like this. Just most.
I don't understand this viewpoint - this seems like the obvious end result of the last 50 ish years of tomfoolery.
The US doesn't make anything anymore, our economy is purely theoretical. We're lying on a huge scale and scamming, and that's how we have our economy. We gave up entire industries - and almost all of them - to foreign countries. China, Korea, Japan, Bangladesh and on and on.
Yes, these companies are "American". In name only. All the capital, all the means of production - which is the actual "economy" here - is being held by not us. We literally just gave up our means of production.
What we did then is made up a bunch of fake jobs to justify these companies in the US and to extract money from these developing countries.
It's only a matter of time before they wisen up and realize they have all the capital.
Granted, not all industries are like this. Just most.