Ten Reasons for Declining
GDP Growth Over Time
Townhall Finance – Mike Shedlock
– 2/1/2013
Ten Reasons for Declining GDP Growth
- Changing social attitudes towards consumption
and debt in all age groups
- Demographics of an aging workforce
- A severe lack of high-paying jobs for college
graduates
- Kids fresh out of college have delayed marriage,
family formation, and home purchases
- Many coming out of college are effectively debt
slaves having no way to pay back student loans
- Debt overhang from the housing bust
- Boomers headed into retirement have insufficient
savings
- Shrinking middle-class plagued by declining real
wages
- Rapidly changing technology negates skills
- 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
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.
Northwoods Patriots - Standing up for Faith, Family, Country - northwoodspatriotscomm@gmail.com
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