An Epic Rant!

[One_Tycoon]

America simply produces nothing, and has become a nation of consumers who's GDP is dependent on the service sector - the financial service sector to be specific.

You got this part right...but it goes downhill from there.

A lot of people talk about needing less regulation or more regulation, well actually we need both. Unfortunately, the banks and other financial services have received less regulation, and more tax loop holes since the Reagan administration, which culminated in the retraction of the Glass-Steagal act in the 90s by Clinton, which basically gave the banks free reign to speculate with other peoples money, which resulted in housing market crash in 2008.

Half correct. The problem is not the repeal of Glass-Steagal in and of itself if you look outside of the framed monetary box that is part of the progressive fiat money system. The problem is the idea of the Govt insuring deposits in the first place [through the FDIC]. If we had 'Free Banking' there would be no need for regulating banks as the moral hazzard of gambling with other ppl's money would not be there.

In fact, if I remember correctly, the only time America's economy was a similar situation was in the 30s, and it required massive Government spending on WW2 after the great depression to kick start their economy.

This is keynesian rubbish. The economy did not "require" anything but to be left alone. Govt spending on WW2 did not end the depression, it prolonged it on top of the already existing New Deal spending. The end of of WW2 ended the depression. The economy was in lousy shape during the war. In fact it was in worse shape as consumer goods were much scarcer. Only when the Govt cut spending and economic resources were diverted back to the private sector did the economy grow in real terms, once factories retooled and started making consumer products instead of weapons for the war.

The problem is, because the Government and economists in the US (and the west in general) have become obsessed with austerity they won't invest money in infrastructure, and manufacturing which is what's needed to dig us out of the abyss.

I don't see this problem which you speak of. Most economists [govt approved economists] follow the fallacious Keynesian school and advocate for more govt spending along with buying into the idea that Demand comes before supply...therefore justifying stimulus spending to increase demand as if paper money comes before the production that gives that paper value in the first place.

We don't need more govt spending...we never did, particularly not on manufacturing. Manufacturing takes care of itself without the govt's help...just let the free market work. It's only during the good times that the govt can even afford to spend [i.e. on things like infrastructure]. Quasi Socialist spending is still not a good thing but at least the economy can afford it. How "economists" came to the conclusion that spending money you don't have during a bad economy makes sense...is mind boggling. It's putting the economic cart before the horse.

[SlySlickSmooth]

As natural resources only become scarcer than they already are in America, how does America become a manufacturing powerhouse? For example you could say we fought the Iraq War for (the need of) oil or that there's been needs for more reusable energy and these trends will continue to grow.

I'm starting to think about how I suggested we manufacture more goods and export those goods, to help out the blue-collar while still contributing to the American economy. But if we don't have the natural resources to create products, then what stops other countries from keeping us being a manufacturing powerhouse?

Not sure what I'm getting at myself but yeah.

[One_Tycoon]

http://fortune.com/2015/02/11/domest...uction-record/

http://www.ft.com/cms/s/0/37afc468-f...#axzz3f0OOSJIc

http://money.cnn.com/2015/04/13/inve...uction-record/

[Monaco Slim]

You got this part right...but it goes downhill from there.





Half correct. The problem is not the repeal of Glass-Steagal in and of itself if you look outside of the framed monetary box that is part of the progressive fiat money system. The problem is the idea of the Govt insuring deposits in the first place [through the FDIC]. If we had 'Free Banking' there would be no need for regulating banks as the moral hazzard of gambling with other ppl's money would not be there.



This is keynesian rubbish. The economy did not "require" anything but to be left alone. Govt spending on WW2 did not end the depression, it prolonged it on top of the already existing New Deal spending. The end of of WW2 ended the depression. The economy was in lousy shape during the war. In fact it was in worse shape as consumer goods were much scarcer. Only when the Govt cut spending and economic resources were diverted back to the private sector did the economy grow in real terms, once factories retooled and started making consumer products instead of weapons for the war.




I don't see this problem which you speak of. Most economists [govt approved economists] follow the fallacious Keynesian school and advocate for more govt spending along with buying into the idea that Demand comes before supply...therefore justifying stimulus spending to increase demand as if paper money comes before the production that gives that paper value in the first place.

We don't need more govt spending...we never did, particularly not on manufacturing. Manufacturing takes care of itself without the govt's help...just let the free market work. It's only during the good times that the govt can even afford to spend [i.e. on things like infrastructure]. Quasi Socialist spending is still not a good thing but at least the economy can afford it. How "economists" came to the conclusion that spending money you don't have during a bad economy makes sense...is mind boggling. It's putting the economic cart before the horse.

God shut up about the "free market" already. The last time the government left you idiots alone, you crash tested cars at 2 miles per hour and everyone started buying Japanese cars instead.