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Originally posted by semperfortis
You don't believe the Government reports.
You don't believe the economic factors.
You don't believe the statistical information.
Thank the Lord, the country is not being run by your "gut" instinct or whatever it is your basing your "facts" on.
The Economy Remains Strong, And The Outlook Is Favorable
* Employment Increased In 48 States Over The Past 12 Months Ending In July.
* Over The First Half Of This Year, Our Economy Grew At A Strong 4.2 Percent Annual Rate – Faster Than Any Other Major Industrialized Country.
* Productivity Has Grown A Strong 2.4 Percent Over The Past Four Quarters, Well Ahead Of Average Productivity Growth In The Last Three Decades. Strong productivity growth helps lead to GDP growth, higher real wages, and stronger corporate profits.
* Per Capita Disposable Income Has Risen 9.2 Percent In Real Terms Since The Beginning Of 2001.
* Total Wage And Salary Income Increased In Real Terms At An Annual Rate Of 3.3 Percent In The Second Quarter. This follows an 11 percent surge in the previous three months.
* Manufacturing Production Has Risen 5.6 Percent Over The Past 12 Months. Manufacturing productivity has grown 3.8 percent over the past four quarters. www.whitehouse.gov...
Mr Eberstadt points out that while nutrition, adequate shelter and health care were big problems for the poor when America’s poverty measure was devised, the picture is different today. Obesity is now the chief nutritional woe facing America’s poor.
And those under the poverty line now have nearly as much house space and amenities as the average family in 1980.
This does not mean that the poor are leading lives of plenty but it does indicate that their lot is getting steadily better, an improvement not reflected in official figures.www.economist.com...
And Brian Westbury (WSJ) said:
During a quarter century of analyzing and forecasting the economy, I have never seen anything like this. No matter what happens, no matter what data are released, no matter which way markets move, a pall of pessimism hangs over the economy.
It is amazing. Everything is negative. When bond yields rise, it is considered bad for the housing market and the consumer. But if bond yields fall and the yield curve narrows toward inversion, that is bad too, because an inverted yield curve could signal a recession.
The latest employment numbers are hugely important as I mentioned this morning on CNBC's "Squawk Box." November's numbers from the Labor Department are a sure sign of strength here at home.
Our optimistic economy is producing jobs, the stock market is rising and gasoline prices continue their downward trend. This is all very good news.
As to your latter observations, there are many studies (the most noteable authored in 2004 by the Chief Economist at Bear Stearns and frequent LK guest) that clearly suggests just the opposite of what you contend--that higher paying white-collar professional and service jobs requiring higher levels of education (in accounting, finance, marketing, science, law, commerce, education, medicine) are replacing lower paying jobs requiring little education at the mill, factory, plant, mine and farm.
This process is moving along at a glacial pace, but it is unstoppable. Just look at the 30 year ever declining trend in union membership for some solid clues.
And yes, some service jobs in retail and food is of the substandard ilk that you describe, but growth in the much higher paying end is offsetting.
Though a waste of time, you wont believe this either. Maybe there may be some on here with open minds.