Friday, February 1, 2013


Ten Reasons for Declining GDP Growth Over Time
Townhall Finance – Mike Shedlock – 2/1/2013

Ten Reasons for Declining GDP Growth

  1. Changing social attitudes towards consumption and debt in all age groups
  2. Demographics of an aging workforce
  3. A severe lack of high-paying jobs for college graduates
  4. Kids fresh out of college have delayed marriage, family formation, and home purchases
  5. Many coming out of college are effectively debt slaves having no way to pay back student loans
  6. Debt overhang from the housing bust
  7. Boomers headed into retirement have insufficient savings
  8. Shrinking middle-class plagued by declining real wages
  9. Rapidly changing technology negates skills
  10. Technology, especially robots, currently eliminates more jobs than it creates
READER COMMENT:  This article left out the biggest reason which is the cause for most of the other reasons. Most of the jobs than can be offshored have been offshored. The reason why Economists lie about the economy is because short sighted investors, blinded by obscene profits have bitten off the arms that feed them. Our dollar is backed by the faith and trust the world has in the productivity of the American worker. Workers that for the most part don't have jobs (productive jobs that I like in manufacturing). Unless we manage to bring jobs back to the US our dollar will become worthless and that vast wealth hoarded by the wealthy will disappear overnight.

READER COMMENT:  "overnight" is an exaggeration. It only appears to happen overnight because most people do not see it until it is far too late. The "vast wealth hoarded by the wealthy" has been disappearing for many decades already. We are just in a later stage of the 'redistribution'. Where the CHANGE is occurring is how our government now runs our economy, or most of it. This is CHANGING as the government percentage continues to grow. And guess what? Our government does not do nearly as good a job as we do.

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