The Booming Economy

The U.S. and global manufacturing sectors are collapsing, which is absolutely no surprise.

In their insane pursuit of profits, corporate CEOs offshored most of our manufacturing base to third world countries, which in the end was suicidal. Workers in third world nations and countries such as China work for slave wages and cannot afford the products they make. The products they made were almost entirely for export to industrialized countries, mainly the United States. And as for the U.S. (not to mention Europe and other industrialized countries, but the U.S. mainly), the workers thrown out of work because of offshoring either had to take "service" sector jobs paying far, far less than what they made in manufacturing, or else they stayed unemployed. And in the end, THOSE workers couldn't afford the products being made overseas, either.

If there are no decent paying jobs, nobody can buy the products, and if nobody can buy the products, still more people are thrown out of work.

In the end, even the CEOs can't make it, either.