Quote:
Originally Posted by ThatOtherGuy
PornGuy, Kane...
Both wrong.
Problem is Middle Class Jobs are gone. It has nothing to do with Middle Class spending.
Middle Class spending was staple to the economy but since no more middle class jobs are about that spending is now gone from the economy.
Where did Middle Class Jobs go? Off shore.
If poiticians were serious about getting the American Economy back on its feet they would pass measure that encourage corporations to come back to America and start manufacturing again. Right now Corporations are virtually paid to go offshore and send the shit into America at nearly no cost and cheaper unsafe, un-insured labor found offshore.
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That is a huge part of it. Middle class spending is the engine that fuels this economy. Middle class overspending is a different sort of thing.
In a way it is the perfect storm. Jobs were there that allowed people with just a high school diploma to earn enough money to create a middle class life for themselves. It was all good. Those people then used credit to live a bigger, more extravagant life than they would normally live. They overextended themselves, were up to their eyes in debt and living well beyond their means. So long as they had the job they were treading water. Then the job goes away and the new jobs are being made offshore so those middle class wage jobs are no longer in existence.