We now have more poeple employed in government than manufacturing and construction.
—– Graph from Contrary Investor, 9 December 2008 — subscription only.
It’s a milestone. But to what end does this road lead us?
See these reports for For other perspectives
(1) “Factors Underlying the Decline in Manufacturing Employment Since 2000“, Congressional Budget Office, 23 December 2008 (8 pages)
(2) See Can you see the signs of spring in the coming of winter? A note about the recession (10 September 2008). Esp note graph #2, “US exports of goods and services as a % of GDP.” It is often said that “the US no longer makes things.” Not so, as exports have grown as a fraction of the US economy for 30 years. That is important and good news. America must earn its way in the world, and by some means other than as a largely unwanted global policeman.
Afterword
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To read other articles about these things, see the FM reference page on the right side menu bar. Of esp interest these days:
- About the Financial crisis – what’s happening? how will this end?.
- About The End of the Post-WWII Geopolitical Regime.
- Good news about America, a collection of articles!
Implications for the future, about structural changes to America from this crisis
- Treasury Secretary Paulson leads us across the Rubicon, 9 September 2008
- Say good-bye to the old America. Welcome to our new socialist paradise!, 17 September 2008
- Another voice warning about the nationalization of AIG, 18 September 2008
- Another step away from our Constitutional system, with applause, 19 September 2008
- America appoints a Magister Populi to deal with the financial crisis, 21 September 2008
- Legal experts discuss if the Paulson Plan is legal, 21 September 2008
- German Finance Minister Peer Steinbrück explains how the world is changing, 30 September 2008
- America has changed. Why do so many foreigners see this, but so few Americans?, 1 October 2008
- America is changing. Read some chillling words from a liberal economist, 2 October 2008