As glad as I am about seeing an economic recovery that is finally starting to gain steam, I do not want to see it based on housing, credit, and consumption like the last time. We need an economic recovery based more on manufacturing exports, savings, and investment.
Guys, all economic growth is dependent upon consumption.
No, it isn't.
You can't consume something unless someone is producing it. Therefore economic growth is based upon both consumption as well as production. Ours, for too long, was based upon consumption at the expense of production, which led to our recession.
Not a difficult concept to grasp. Therefore, Opebo is wrong -as usual.
Well obviously there needs to be stuff produced for consumption... But I don't think US manufacturing has any problems with that considering all the closed plants. Obviously both sides could be improved with proper government spending and publicly owned industry, respectively.
