Your Economy (No Politics)

[skono4]

The lack of job growth in higher productivity, higher paid occupations associated with the American middle and upper middle classes will eventually kill the US consumer market.
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Geez Ernie, I'm from Pittsbugh area where my father, grandfather and all the uncles and in-laws worked in the steel industry. They were losing their jobs and familes were sucking wind and going in the hole almost two generations ago by my measure. Why is Paul Craig Roberts interpreting the August jobs data as if we're hitting some crescendo of economic chaos. This isn't a train wreck where a 100MPH commuter train runs into a car trying to sneak around the gates. This whole globalization is happening more analogous to a freight train hauling hundreds of cars up over the mountain pass at 10-15 MPH top speed.

It's pretty foolish to get hit by a passenger train going 80MPH through an urban area. It's almost impossible to get hit by the freight train unless you lay down in the tracks and wait there until the spider webs are covering you.