Tag: economic decline

The US Faces Ignored Challenges

Guest Post by Paul Craig Roberts

For the longest time, Bureau of Economic Analysis jobs reports show that industrial and manufacturing jobs–jobs that have high value added and produce good incomes–are declining in the United States. For some time US corporate profits have been based on sending Americans’ jobs to Asia where labor  costs are lower.  The stock market boom was a product of low interest rates, which meant Federal Reserve liquidity, and reduced labor costs from offshoring.  It was not a sign of a vibrant US economy.

Today and for a couple of decades the US exists as a market for foreign made or offshored goods of US corporations.  Americans have been separated from the income associated with the production of the products that they consume.  This is the avenue to Third World Existence.

Continue reading “The US Faces Ignored Challenges”

“Black Friday:” Symbol of America’s Economic and Cultural Decline

Guest Post by Antonius Aquinas

Black friday photo

The day after Thanksgiving in recent times has become known as “Black Friday,” a day where retail businesses who have been in the red recoup losses while profitable firms widen their income margins. The day is also a supposed boon for consumers where goods are significantly discounted and new products are first displayed.

The Establishment has long since been a promoter of Black Friday, encouraging Americans, with often patriotic rhetoric, of their duty to frequent shopping malls and the like despite economic conditions or safety concerns from either domestic unrest or international threats.

While not explicit about post-Thanksgiving Day shopping, President Obama made it a point to reassure Americans about their security in light of the recent Paris attacks: “It’s understandable that people worry something similar could happen here. As we go into Thanksgiving weekend, I want the American people to know that we are taking every possible step to keep our homeland safe.”*

The financial press and academia are also big proponents of Black Friday since they are under the mistaken Keynesian belief that consumer spending is the most important component of economic life and the key indicator in the measuring of growth. Thus, retail sales over this period and up until Christmas are closely monitored by financial commentators.

Continue reading ““Black Friday:” Symbol of America’s Economic and Cultural Decline”