Facts Are Stubborn Things

"We transitioned from an industrial to service-based economy,"



That's the key, our service based economy can't support the needs of 311 million people. Either we bring back industry or we drastically alter our economy to accommodate the needs of all of the American people, not just a privileged few. You can't support a consumer economy with stagnant and depressed wages and tens of millions of Americans un or under employed. There is no way to square that circle. Hyper-crony Capitalism is a finite game, and acts like a debilitating cancer on the underpinnings of society. If we don't make things for export, and if we don't have millions of Americans employed creating those export items, and earning wages that can go back into the economy we are on an irreversible spiral downward, no matter how we tax or cut spending. Reagan began the move from an inclusive economy to an exclusive economy and that is what has brought on the crisis. We need to contemplate where we are and determine the structural change to the economy required. Adapting to the new normal isn't enough, and the people won't tolerate that their children are condemned to a life of privation because "that's the way the ball bounces". Any Elite who is thinking in those terms is kidding themselves.
Read the Article at HuffingtonPost