Thursday, August 11, 2005

Economic news behind the hype

The US economy is employing people to sell
things, to move people around, and to serve them
fast food and alcoholic beverages. The items may
have an American brand name, but they are mainly
made off shore. For example, 70% of Wal-Mart’s
goods are made in China.
In the 21st century job growth in the US economy
has consistently reflected that of a Third World
country--low productivity domestic services jobs.
This goes on month after month and no one catches
on--least of all the economists and the
These questions are too difficult for
economists, politicians, and newscasters.
Instead, we hear that “last month the US economy
created 207,000 jobs.”

Television has an inexhaustible supply of
optimistic economists.

...and a host of other twits.