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When the majority of our economy is based upon consumer spending and not manufacturing or technology- we've got a huge problem.
Think about what has happened- the government, in league with corporations- created the false bubble which we are now seeing burst. They sold the infrastructure of this nation out through travesties like NAFTA and outsourcing. It was good for them in the short term- they were able to make large profits up front, but this kind of thinking is unsustainable and disastrous. It's the equivalent of selling the roof off your house when the weather is good just to have some extra pocket change.
Even if most Americans could afford to buy a flat screen TV right now, it won't help us. Where are those TV's made? China. Nice. So all of that money that could be re-circulating in our own economy gets sent overseas where it disappears. All because the people at the top thought a service economy was better than an economy based upon manufacturing.
