What’s all this about an economic depression? Without going too much into it and typing so much, here are a few videos that explain what is going on.
The American, Canadian, and Western national economies used to be saving, producing economies. Canada/USA’s total manufacturing economic output (making things) was about 30 per cent 30 years ago and has been steadily eroding down to what it is today; about 10 per cent. Why is this important? It leaves only services and resource extraction as the main economic outputs.
The problem here is that services largely do not produce wealth because they are jobs like retail, healthcare, programming, and maintenance. Programming and other “knowledge based economy” jobs were long touted as a replacement for the manufacturing base, but this is not reality because these jobs can easily be sent to another part of the globe in a very short time.
In essense, we are a Western bloc of consumers (80% of American economy is consumption based) and we do not produce much, nor do we employ Americans to the extent we used to. You can say automation has replaced many jobs, and this would be right, but if this were the case, why are the jobs in China, Mexico? Because they do not have the minimum wages, environmental protections, labor laws like we do in the West.
Who’s to blame for these facts? Our governments sold us out by signing onto international agreements like (especially this) B’nai B’rith, the General Agreement on Tariffs and Trade, the International Monetary Fund, the United Nations, The World Trade Organization, The World Bank, the Trilateral Commission, the Council on Foreign Relations, to name a few.
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