Where is the US economy headed?

Rama, I believe you are wrong; our economy today differs greatly from the time of Jefferson, Lincoln, or Roosevelt; it is much more complex today.

C I
Agree.
We are in a different time. But the system has not changed and it warrants corrections.

"A Look At The Economy For 2007
Where is the US economy headed in 2007? Any prognosis must take into consideration the defining features of the current recovery period, including inequality as well as instability?-that is, how far and for how long the living standards of average households fall or lapse.

The US economy is not doing well by its workforce in this current period. In fact, excluding the gains enjoyed by the top twentieth or even hundredth of households, the situation over the past three years does not resemble a recovery at all.

Long-term trends in housing, consumer spending, and wages point to another slowdown and recession. And while the Bush administration has insisted since before the end of the recession that the economy is stable and growing, the daily record-breaking and speculative anarchy of Wall Street belie the official line and beg the question, "for whom?"
http://annotatedlife.blogspot.com/2006/12/look-at-economy-for-2007.html

c.i. wrote-



Cripes c.i. It is a fundamental tenet of American thinking that the dearer a thing is the more status it has. Gold bath taps don't work better than stainless steel mass produced ones. Perhaps less good.

Why should we make five ordinary Yanks coffee and donuts (is that how you spell it?) for $10 when we could get $10 off one if he's a posh Yank.

We don't mind a few posh Yanks coming over but a bunch of bloody ignorant skint commoners whingeing about the price of things we can well do without. You'll be wanting soup kitchens next.

$10 for coffee and donuts is a ticket to an exclusive enclosure.

spendi, Gold doesn't rust.

spendi: $10 for coffee and donuts is a ticket to an exclusive enclosure.

No, it's not 'exclusive' by any measure; it's located on Picadilly Circus not far from McDonalds (on a corner location).

I know a few people who work for American owned companies and I've been on the premises in a handful. It looks boring. It might be more efficient and clean but who wants to take efficiency uo 1% at the cost of a working life of boredom.

The consumer only wants efficiency when she's buying not when she's producing.

I've never been in a McDonalds in my life and have no intention of ever doing so. They mix shite in a bowl and add spice. And Piccadilly Circus is a dump you won't come across me in either.

OK- Gold taps last but they don't make sense. You can have gold on paper and then nobody can steal it and you can buy or sell on the blower. No need to take them out of the bath when you think the gold price has peaked. Not that I do think that mind you.

They only have them for the flash. Dear is posh, cheap is nasty and tawdry. Do you not know your Veblen?
Bernie will explain that. He was into costume decor the last I heard. Not bling. Bling is for fish gutters and toilet swabbers.

Some posh women keep some bling for when they want a night out at the rough end. Out of sight of their minders.

I can still get a decent lunch here in Silicon Valley for $10. Why would I want to go to London for coffee and donuts for the same price?

I also know for a fact, most people who work in London doesn't make all that much $$$ or pounds.

From the London Guide:

Per Capita Income: London has a GDHI per capita of £12,935.

Indeed, CI once bought me a very decent lunch in Silicon Valley. It consisted of maybe two pounds of super-yummy, Silicon Valley-grown cherries.

That's about $26,000 US, but here in Silicon Valley, the per capita income is about $75,000.

Christ, I just had a decent lunch here in Berkeley for $5. You guys need to shop around some!

Cycloptichorn

Berkeley? Isn't that what our Stanford tour guide called "that other university"?

Well, Thomas, come back to Silicon Valley, and you can get another two pounds of cherries from Olson's - in season.

Probably so; I can't vouch for this place. Compared to my alma mater (University of Texas) both schools are like annoying little flies.

Great food selection here though, yum....

Cycloptichorn

On plastic tables, with plastic condiments and plastic spoons and plastic music and plastic waitresses and plastic bucket seats.

Orange juice is now $6/gallon in the Boston area.

Sounds like a load of fun...

They're now $5-6/pound in the Boston area...

I'll bet the Kaopectate cost a bunch, though...

You can get the 12 oz liquid for $7.29 or 100 tabs for $20.