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OT where the middle class went and why

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The U.S. industrial comeback, an idea embraced by President Barack Obama and some economists as 12 years of factory-job losses gave way to three annual gains, is now sputtering. Even with nonfarm payrolls up 1.1 percent in 2013 to 136.1 million, manufacturing has stagnated at less than 12 million. Factories added more than 500,000 positions after falling in February 2010 to the lowest since 1941.

That left the factory workforce through August about 13 percent smaller than the 13.7 million when the U.S. fell into recession in December 2007. In 2000, the tally was 17 million.

?I know all of us are concerned about manufacturing, but it?s not going to come home to the degree that it used to be,? Federal Reserve Bank of Dallas President Richard Fisher said at a Sept. 5 event in Dallas.

Reply to
F. George McDuffee
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$2.10 with free shipping from Hong Kong

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Yet, to ship the same item from the US to Hong Kong would cost ~$11.48

Reply to
PrecisionmachinisT

Example of over regulation and over taxation in the USA.

. Christ>> That left the factory workforce through August about 13

Reply to
Stormin Mormon

Nope, it's a matter of well-thought-out government subsidy in China.

Reply to
PrecisionmachinisT

While many of the symptoms and characteristics have been identified, we still have not yet [publicly] identified the root causes or problems. FWIW the root problems/causes do not appear to be technical, thus it is futile to attempt technical solutions.

Some highly suspect areas are a highly arcane, archaic and opaque tax code which aids and abets tax evasion, financial engineering which has been allowed to run amok, and total lack of the long view by either the political or industrial "leadership," who apparently are increasingly ignorant of, or hostile to, the history, mission, activities and reason for existence of the organizations/industries they nominally lead.

While excessive tax levels for the 1% and supranational corporations are frequently mentioned, the actual results do not indicate this to be the problem, in that the fraction of total wealth owned/controlled by these entities continues to rapidly increase, which is not consistent with over taxation.

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Forbes says America?s super rich continued to increase their wealth over the past year, with the 400 people on the annual list posting a combined net worth of $2 trillion, up from $1.7 trillion a year ago.

That marks the super-wealthy group?s highest combined value ever, with 61 American billionaires not even making the cut.

Reply to
F. George McDuffee

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