"Despite this unprecedented negative performance, most economists, pundits and elected officials are remarkably blasé about what has transpired."
Shock Doctrine Comes Home to Roost
Manufacturing Employment
"each day since the year 2000, America had, on average, 17 fewer manufacturing establishments than it had the previous day"
"there was no net job growth in the 2000s, principally because manufacturing jobs fell so sharply. When an economy loses 1,276 manufacturing jobs a day, and then another approximately 2400 jobs because of the multiplier effect (for a total loss of approximately 3,676 a day), it generates a stiff headwind for the American jobs machine to overcome."
1930s Depression manufacturing job loss versus 2000s
[Note: that during the worst part of the 2000s recessions, GDP dropped ~ -3.3%, whereas GDP dropped 45% between 1929 and 1933.]
"Deindustrialization" by Country
The "triumph" of the Anglo-American disposable economy, visualized
The "triumph" of the Anglo-American disposable economy, visualized
The Bush McJobs all evaporated within a few months after Lehman, stay tuned for future events...
The bottom line is that the United States, compared to other developed countries, treats its employees like disposable cannon fodder. The U.S. economy devolved into a zero sum game between profits and labour, in a "winner take all" pyrrhic victory, now featuring declining revenue and an obliterated middle class. U.S. employees have fewer labour protections, benefits, and now lower wages and fewer jobs than most developed countries.
Something to think about for the future, when the frat boys get turfed out of office.
