D_Stanford Dedwillie III
Just Browsing
That's a load and you know it, this is a recession based on the collapse of pure and utter bullshit. Most of the jobs lost are lost, we only had "growth" in recent years because it was made up, there wasn't actually any.
Things will not return to the way they were, and many people are projecting double digit unemployment as a mainstay. We don't produce anything in America, and many businesses and industries were held aloft by credit, and money people did not have.
Things will not be hunky dory, they may get better, but will not be as they were.
It's not a load. I agree that the recession was spurned by the collapse in credit markets...and that credit will never be the same.
But we will return to roughly 3% GDP growth year over year, as we have for the last 100+ years.
When you say we don't produce anything what exactly are you referring to? Our manufacturing sector is shrinking; but the service sector has been growing at a nice clip for some time.
We still dominate in the production of technology. There are more jobs in technology growth than in making sneakers and handbags.