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The incredible shrinking middle class.
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<blockquote data-quote="diesel96" data-source="post: 290012" data-attributes="member: 9859"><p>Wkmac, as always, another upfront imformative post, we all should prescribe to a more dogmatic demeanor that you display without crossing the line of incivility.</p><p></p><p>Anyhow back to topic.</p><p>An artcle written by</p><p><span style="color: #990000"><em>Paul Craig Roberts</em> (Economist) <em>was Assistant Secretary of the Treasury in the Reagan Administration. AKA "The father of Reagonomics"</em></span></p><p></p><p><a href="https://web.archive.org/web/20110726230007/http://vdare.com/roberts/060820_jobs.htm" target="_blank">https://web.archive.org/web/20110726230007/http://vdare.com/roberts/060820_jobs.htm</a></p><p>Although it's a year old, it's still a good barometer to todays economy.</p><p>:here's an excerpt from this link;</p><p></p><p>In the US today, government employs 7.7 million more people than does manufacturing. Little wonder we have an $800 billion annual trade deficit when the government sector is larger than the manufacturing sector.</p><p>American economists are yet to face up to the fact that offshoring high productivity, high value-added jobs that pay well and replacing them with waitresses and bartenders is a knife in the heart of the US economy. Charles W. McMillion of MBG Information Services reports that compensation is falling behind price rises and that the US economy has been kept afloat by consumers overspending their disposable incomes by drawing down their accumulated assets and going deeper into debt.</p><p></p><p>I also reccomend to read his bio in wikipedia: A very interesting point of view from someone who is a critic of both Democratic and Republican administrations.</p><p><a href="http://en.wikipedia.org/wiki/Paul_Craig_Roberts" target="_blank">http://en.wikipedia.org/wiki/Paul_Craig_Roberts</a></p></blockquote><p></p>
[QUOTE="diesel96, post: 290012, member: 9859"] Wkmac, as always, another upfront imformative post, we all should prescribe to a more dogmatic demeanor that you display without crossing the line of incivility. Anyhow back to topic. An artcle written by [COLOR=#990000][I]Paul Craig Roberts[/I] (Economist) [I]was Assistant Secretary of the Treasury in the Reagan Administration. AKA "The father of Reagonomics"[/I][/COLOR] [url]https://web.archive.org/web/20110726230007/http://vdare.com/roberts/060820_jobs.htm[/url] Although it's a year old, it's still a good barometer to todays economy. :here's an excerpt from this link; In the US today, government employs 7.7 million more people than does manufacturing. Little wonder we have an $800 billion annual trade deficit when the government sector is larger than the manufacturing sector. American economists are yet to face up to the fact that offshoring high productivity, high value-added jobs that pay well and replacing them with waitresses and bartenders is a knife in the heart of the US economy. Charles W. McMillion of MBG Information Services reports that compensation is falling behind price rises and that the US economy has been kept afloat by consumers overspending their disposable incomes by drawing down their accumulated assets and going deeper into debt. I also reccomend to read his bio in wikipedia: A very interesting point of view from someone who is a critic of both Democratic and Republican administrations. [url]http://en.wikipedia.org/wiki/Paul_Craig_Roberts[/url] [/QUOTE]
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