I've always had my own theory on the US economy.
I think that even if 9/11 would not have happened that the US economy was going to crash either way. And yes, I do think that 9/11 and the wars that followed didn't help matters I don't think they were the end all be all of the crash.
I always have thought that advances in technology, while great for us in the early to late 90's led to a decline of middle class jobs. For example, I work in the printing industry, the place I am at used to have 8 printing presses, always printing multimedia. Now we have 3 presses that hardly have work anymore. (That's just one example) I remember when things were great in the US (around 1996) one of President Clintons financial advisers addressing when jobs were leaving the US by saying something along the lines of "We don't need those jobs, we dont WANT those jobs"
I think that developing countries using more resources (food,oil..etc..) has caused many of our commonly used things to rise in price. Therefore taking more money out of our pockets.
And with all of the baby boomers retiring it is putting a great pressure on our financial system (this had been talked about since the 1980s). And now it is finally happening.
Thats just a few of my thoughts.
Agree/Disagree?
I think that even if 9/11 would not have happened that the US economy was going to crash either way. And yes, I do think that 9/11 and the wars that followed didn't help matters I don't think they were the end all be all of the crash.
I always have thought that advances in technology, while great for us in the early to late 90's led to a decline of middle class jobs. For example, I work in the printing industry, the place I am at used to have 8 printing presses, always printing multimedia. Now we have 3 presses that hardly have work anymore. (That's just one example) I remember when things were great in the US (around 1996) one of President Clintons financial advisers addressing when jobs were leaving the US by saying something along the lines of "We don't need those jobs, we dont WANT those jobs"
I think that developing countries using more resources (food,oil..etc..) has caused many of our commonly used things to rise in price. Therefore taking more money out of our pockets.
And with all of the baby boomers retiring it is putting a great pressure on our financial system (this had been talked about since the 1980s). And now it is finally happening.
Thats just a few of my thoughts.
Agree/Disagree?