Support NeoGAF

[ToxicAdam]

It looks like Republicans were wrong. We were already heading to be a socialist nation. :lol

Industry Change, May 1999-2009
(thousands of jobs)*
Private healthcare 2898
Food and drinking places 1567
Gov educ 1390
Professional and business services 885
Gov except health and ed 843
Social assistance 796
Private education 772
Arts, entertainment, and recreation 188
Gov health 148
Mining 133
Financial activities 130
Utilities -40
Transportation and warehousing -43
Retail -91
Accomodations -119
Wholesale -166
Construction -238
Information -525
Manufacturing -5372
*Gov health and gov educ based on April 2009 estimates
Data: BLS

Free trade is going to save us all! Thanks 1990's policy decisions!

So, what say you GAF? The inevitable transition to a service-based economy, or the beginning of the end?



http://www.businessweek.com/the_thread/economicsunbound/archives/2009/06/a_lost_decade_f.html

 

[perfectchaos007]

thats not so bad, i thought we would be in negative percentages for growth

 

[OnPoint]

thats not so bad, i thought we would be in negative percentages for growth

You might not be wrong for long, based on that progression

 

[Phobophile]

Manufacturing -5372

No wonder I lost my job in January. :lol :lol

 

[SIP YEK NOD]

thats not so bad, i thought we would be in negative percentages for growth

with 30 million+ new americans in that period, 0% growth might as well be in the negatives.

 

[Zyzyxxz]

I dont think there is much in terms of public jobs for people who wants to get into a culinary position like me.

Unless I like cooking for prisoners.

 

[DoomGyver]

mmm porn

 

[Forkball]

Should I change my major to agriculture so I can get a job on one of Obama's collective farms?

 

[ItAintEasyBeinCheesy]

I think its time for all ye landlubbers to take a page out of ye o'l Somali book and turn Pirate yarr, i high life on the 7 Sea's is where the adventure and work be.

 

[xbhaskarx]

"Free trade is going to save us all! Thanks 1990's policy decisions!"

You bolded the -525,000 lost Information jobs, but were those jobs lost because of free trade or because those numbers are from May 1999 to present, when 1999 was the high point for tech jobs before the dot com bubble burst for reasons totally unrelated to free trade?

 

[ToxicAdam]

"Free trade is going to save us all! Thanks 1990's policy decisions!"

You bolded the -525,000 lost Information jobs, but were those jobs lost because of free trade or because those numbers are from May 1999 to present, when 1999 was the high point for tech jobs before the dot com bubble burst for reasons totally unrelated to free trade?

You would have to think that some (maybe most?) of those jobs lost were due to outsourcing.

http://www.news.cornell.edu/chronicle/04/10.21.04/outsourcing_jobs.html

 

[slidewinder]

What kind of a future are you hoping for for your kid there, TA?

 

[ToxicAdam]

What kind of a future are you hoping for for your kid there, TA?

The avatar picture is not my kid.

I don't really project my hopes and dreams onto my children. It's not a healthy way to raise a child. So, I don't spend an ounce of time thinking about it.

 

[slidewinder]

Well, good for you, although that's obviously not what I was asking. This isn't a Little League sign-up sheet, after all.

Where do you suppose your little critter(s) are going to fit into the economic order of things as you a) see them unfolding and b) see them unfolding if you had your druthers* (said druthers presumably accounting for said critter(s) to some extent, said extent to be hopefully accounted for and detailed by yourself)?

 

[ToxicAdam]

I would imagine they will probably get educated in-state (cheaper) and then move to one of the coasts. The industrialized midwest is going to become a desolate wasteland (Think Detroit, repeated many times over) in the next 50 years. Although that is probably a bit harsh, as I think each state will have one city that will remain a place of growth moving forward. Usually the state capitol (as funds and initiatives are usually steered to bolster the local economy).

 

[reggieandTFE]

Do you have any similar chart with wages indexed for inflation, corporate profits and productivity? A lot of research I've gone over doesn't include the 2000s.

 

[reggieandTFE]

I would imagine they will probably get educated in-state (cheaper) and then move to one of the coasts. The industrialized midwest is going to become a desolate wasteland (Think Detroit, repeated many times over) in the next 50 years. Although that is probably a bit harsh, as I think each state will have one city that will remain a place of growth moving forward. Usually the state capitol (as funds and initiatives are usually steered to bolster the local economy).

Environmental issues (ie water supply) are going to constrain the sunbelt immensely over the next decades and the transplanted manufacturing in the South will eventually move to lower wage areas in other countries as capital flows demand. These regions are light years behind the coasts (and even the midwest) in education levels and will suffer even more calamitous economic declines than the rustbelt is currently reeling from.

The midwest is going to suffer and never be what it was, but it's going to be much more rapid decline for those regions in the next few decades.

 

[Jackl]

We sold production overseas and we expanded government enormously. We tax, teach, and medicate ourselves to pay ourselves.

Yea, job openings in my area are down 50% from last year alone. I've been looking for months while reading rosey reports like this one. Pretty depressing. I wonder when I finish college if there will be a job to be had. Last I heard only 20% of graduates even see one in the first year.

 

[GuyIncognito]

i didn't see the word "graph" at first and thought the porn industry was struggling

thank god i was wrong.

 

[Mustaphadamus]

It looks like Republicans were wrong. We were already heading to be a socialist nation. :lol



Free trade is going to save us all! Thanks 1990's policy decisions!

So, what say you GAF? The inevitable transition to a service-based economy, or the beginning of the end?



http://www.businessweek.com/the_thread/economicsunbound/archives/2009/06/a_lost_decade_f.html

the u.s. economy or as we shall call it here the F.I.R.E. economy has been serviced base since the death of U.S. manufacturing. F.I.R.E. stands for Finance, Insurance and Real Estate which are the service based industries that have governed our economy for the last 30 yrs or so. What you are seeing now is the death of that economy. No country on the face of the planet can consume more than it produces indefinitely, which is what we attempted to do.

I really really really feel sorry for many people. What is coming will wipe out many people. Their savings, their careers and the trinkets they have worked hard to accumulate. People need to take a long hard look at what they think is coming and if you are in school switch to majors you feel will be in demand. If you are studying to be a grade school teacher, abandon ship.

youtube Gerald Celente, he is one of my favorite economist. Also George Soros, Peter Schiff, Eric janzen, Nour el Roubini, Nicholas Talebi, Mark Farber. These guys should point you in the right direction. Also try to understand how our monetary system works because that too is about to go the way of the dinosaur. Youtube two videos "money as debt" which is a 5 part series and the other is "I.O.U.S.A byte sized". If anyone here tries to tell you the monetary system doesn't work like how this video depicts it then they do not know what they are talking about. I have my degree in economics. That is first year stuff. There is also a video put ou by the discovery channel called the U.S. mint. That also says the same thing the money as debt video says, just not as in depth.

Happy hunting.

 

[theBishop]

Markets FTL.

 

[Monroeski]

You would have to think that some (maybe most?) of those jobs lost were due to outsourcing.

http://www.news.cornell.edu/chronicle/04/10.21.04/outsourcing_jobs.html

My first thought on seeing the numbers.