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Is the American Economy sustainable with the way the prices are?

Author : ?

Submitted : 2018-06-15 05:39:18    Popularity:     

Tags: Economy  American  prices  sustainable  

I notice i buy less things than i did 5-10 years ago but somehow i have spent more money. I cancelled a lot of my bills keeping to a minimum of gas, food, rent, and phone. but yet i am saving less. I read somewhere consumer spending went up and savings a

Answers:

The American Economy is not sustainable because we are now a service economy instead of a production economy (that sells to the world at a high profit - which funded our healthcare, etc). In a service economy I pay you to do one local labor job and you pay me to do another. [You pay me to babysit your babies, and I pay taxes to pay you to be a teacher for my children instead of both of us staying home and tending to our own children.]

A simpler example is: I pay my neighbor $10 a haircut (once a month) to cut my hair, and he pays me $10 to cut his hair once a month. We are both employed, but not making any headway (excuse the pun). ... now, about the $15 minimum wage idea ... deciding we were not making enough we raised our rates to $15 ... and then the IRS heard, and charged us each $1 in tax per haircut - meaning we are actually losing ground.

sustainable for how long?

The US national debt is 175k for every taxpayer (thats just the debt the US owes as a country - it dotn include the debt individuals owe)
The debt for individuals (credit cards, mortgages) is 58k

so the total debt for the US - about 250k (1/4 million) for every person who pays tax in the US

and both kinds of debts are increasing

In the long term this is not sustainable - but nobody knows how long that term will be

"My question is how can the American economy sustain itself if this continues where the prices rise higher than what most people can make almost forcing them to spend more than their earnings? "
Think your starting point aint correct- -From what I have seen americans "buy" far more than they need - And when they spend they buy the wrong stuff
for example - "Fast foods" is a huge business in the US cos they are supposedly cheap - But they are neither "fast" nor "cheap"
Sure they are served fast- but 1st you got to get there, then you got to go home - Take the total time taken you can cook a meal at home in less time - AND it can be cheaper (and healthier ) and THAT dont take into account the cost of getting to the fast food then home

it cant- they can only spend more than they earn by borrowing - But they can only borrow when somebody will lend
When they stop lending the economy collapses

"I feel like we as Americans are going into the brink of insanity thinking this will work out the way its going."
People aint interested in it "working out" as such - All they are interested in is survival, and they hope the sh//t dont hit the fan before they will not be in a position to care (i.e they are dead)
(I dont blame them much
If you were starving, had a credit card but no job - would you not buy food cos you know you couldnt pay off the card , or would you buy it and let somebody else worry about the bill?
thats what they are doing

The problem with the US is that for decades its been a land of plenty and mostly "cheap plenty" - result is - its population has grown up with a mentality of "I want it,I want it now,I will do whatever is necessary to get it, and I am gonna let tomorrow look after itself"

Eight years of the Obama economy was eight years of stagnation. That is how Socialist economies work. They try to maintain the status quo while everything deteriorates, and everyone's standard of living drops. Progressives think it is easier to manage the economy if it is static. Donald Trump is trying to jump start the economy. A growing economy means unemployed people go back to work, and working people's wages start going up. Electing Democrats (or RINO's which is the same thing) means going back to a stagnant economy. Voting Republicans means a growing economy, and a better standard of living for most people.

The American middle class has lost ground, slowly but continuously, for 40 years now. Raises have not kept up with inflation while Fortune 500 Execs have done better and better. Wealth is growing more and more concentrated all this time. This has been going on under presidents of both parties.

GW Bush, in particular, bragged constantly that the economy was making huge strides (until it crashed). And it was true on average, on paper. But ALL the gains were going to the richest 1%. And every Republican president has changed the tax code to shift the burden of taxation off the rich and onto the middle class.

Meanwhile the govt. actually rewards companies for exporting all our good-paying manufacturing jobs overseas. And we're destroying our educational system so American kids won't grow up with good-paying skills, so the children of the rich won't have to compete with the riff-raff for the few good jobs that will be available when they get out of school.

Not sure. My crab has gone up $3 per lb. That is an outrage.



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