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Recovery ? To What?

Sorry Folks it won't, indeed, can't happen  unless---

We gain a new unsubsidized export manufacturing industry. Our cred has been destroyed so we can't borrow to import so we will have to match imports from low wage countries with something that they need and only we can produce.

Got any ideas? I and the nation would like to hear them for to do anything more than stabilize at a much lower level of economic activity, as now measured, we need jobs in unsubsidized manufacturing to bring up the wages that will then be spent.

No new jobs, no new spending, no recovery. 

In all honesty, I can see nothing in terms of employment recovery that could sop up the huge numbers of un and under employed workers we have in inventory that continue to drain our economy. These growing numbers are, and seem destined to claim bigger and bigger hunks of our resources as legitimate users of our taxes rather than being on the positive side, as contributors.

What brought us here? The sale of our credit, our now questionably valued dollars, that are loosing their desirability as items for payment and storage in international markets.  

As one old sage once said "don't give me compliments, don't offer me love or money what I need and demand is the truth". What do we have to trade for the $3 a day labor available in the simpler living outside growing world.

Perhaps we can develop a new metric of national success and health as the giggling of  classic economics has failed.

Be well,

 

Bindlepete