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Special Report: Is America the sick man of the globe?

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CLANG Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 03:34 PM
Original message
Special Report: Is America the sick man of the globe?
http://www.reuters.com/article/idUSTRE6BF28720101216

"The recession merely revealed a reality that has been with us for a long time. We faced a growing gap in education and skills that we tried to fill with debt and credit, which gave us the illusion of growth."

After World War Two, unskilled blue-collar jobs in manufacturing -- typified and in many ways defined by the auto sector -- became America's easy path to the middle class. As U.S. manufacturing declined, starting in the 1980s Congress and successive administrations focused instead on the financial sector and relied on debt -- its own and that of the U.S. consumer -- to foster economic growth.

At the same time, U.S. companies faced a growing competitive challenge, largely from Asia -- both in terms of manufacturing prowess and lower wages and legacy costs -- that hastened the nation's exodus from the sector.

That in turn created lop-sided trade imbalances, with the U.S. invariably in the red. The U.S. trade deficit with China, for instance -- a nation that tightly controls its imports -- hit a record of $268 billion in 2008 and could reach $270 billion this year.
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 03:39 PM
Response to Original message
1. The lack of 'education and skills' is BS. They are another attempt to blame the victims of the
corrupt economic system that has taken over our government.
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CLANG Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 03:42 PM
Response to Reply #1
2. You think our education system and it's product is just great?
And at that point you gave up on a 10 page article. Remember, this is Reuters, and they operate outside our propaganda machine.
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 04:08 PM
Response to Reply #2
3. I think the GOP has been working feverishly to destroy our education system as long as I have been e
alive. I know that the reason we don't graduate more Science and MAth graduates is because we don't ave the JOBS for them.
I know that the NUMBER ONE barrier to having more educated Americans is the FOR PROFIT educational system.
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CLANG Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 04:14 PM
Response to Reply #3
4. Lots of future openings for doctors and dentists.
Unfortunately most people couldn't afford to get the required education.
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Vincardog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 04:23 PM
Response to Reply #4
5. Word
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madmax Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-17-10 01:58 AM
Response to Reply #3
9. +1 exactly
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 07:28 PM
Response to Original message
6. America Is Run By Psychopaths in Business and Government
It makes us People oppressed, not sick.
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 07:42 PM
Response to Original message
7. Well fuck yeah.
It's been all downhill since WWII. When does someone get held accountable in our so-called democracy?
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CLANG Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 10:22 PM
Response to Reply #7
8. That, is the $64,000 question.
With inflation probably worth a few mil.
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