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View Diary: The Single Fact that Explains Why this Recovery is Slow (100 comments)

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  •  It's much simpler than that: (4+ / 0-)

    China.  China.  China.

    When a country's economy is transformed the way ours has been over the past 15 years, you need a steep recession to shake off the no longer needed personnel that linger on well past the time that offshoring to China has made them redundant.

    Our economy was packed up in steamer trunks and shipped to China, and the level of employment we now have is not really the new "normal"...it is just a transitional phase while even more jobs get outsourced.  

    That's why job growth has been so tepid over the course of the last 3 recessions...The economy is shedding jobs permanently.  They won't be replaced.  Period.

    Because we have no national policy that corresponds to any semblance of an industrial plan, other than shipping jobs to the most low cost labor source on the globe, regardless of the policies of that particular country, or the irreparable harm it does to this country.

    On that item, both Republicans and Democrats are in complete agreement.

    Oregon: Sure...it's cold. But it's a damp cold.

    by Keith930 on Wed Aug 29, 2012 at 04:14:09 PM PDT

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