Originally Posted by Captainron
"Restoring the American economy is not going to be a matter of simply jump-starting consumer spending, or even business investment. It’s going to take a long, hard, focused effort to move away from a parasitic consumer economy in which profits are largely made through speculation, and towards a real economy that actually makes things that people both here and around the world need. "
So what will we be able to export----at competitive prices---in this new century? Simple and dependable American technology gave us an edge in the post-WW2 world until the ruse of planned obsolescence took over. That did help to keep the profits coming in....until upstaged by sturdy and cheap---if rather unreliable----export products from Asia. Our exports of intellectual property----the IT revolution---will soon be overtaken by other countries.
So how can this country redevelop an export base and at the same time prevent American companies from outsourcing production? I think the Republican Party dropped the ball on this issue, although I have seen some signs of hope that they are getting it. Obama was certainly promising to deal with it---as witnessed by his concentrated efforts in the upper Midwest before the election. But I don't know if his financial policies will allow him to deliver on it.