Posted on 05/19/2022 8:29:13 AM PDT by Timber Rattler
I have seen this all before. US policy on oil and gas production was much, much worse in the 70’s. Indeed, on oil and gas the real dereg didnt come in till the Reagan administration.
Patience grasshopper. This too shall pass.
So, you think that the only thing wrong with our economy right now is the US Policy on oil and gas production? That is a good one!
Output value? R U kidding? The USA offshored entire industries. Consumer electronics is the prime example. So the IS AND CONITNUES TO DE INDUSTRIALIZE AND TRUMP WAS A SPEED BUMP ( so far).
Some of those guys probably are relieved to be relieved, depending what happens to them next.
You have a talent for assumptions.
I think the US is suffering from the malaise of late capitalism, as predicted by Schumpeter, where “mature” industries have consolidated, created connections with an expanding bureaucracy, to create conditions where it is too expensive and risky to compete. It is a condition of corporatism, where growth and innovation are stifled.
The question is whether improving technology (growth is almost entirely determined by the rate and effectiveness of technological adoption) can overcome the decadent mechanisms Schumpeter predicted so accurately. Tech is a force of its own and is very hard to stop.
In any case, this will keep the (relative) decline slow. The accumulated capital involved (human, institutional, physical) is stupendous. It will take my remaining lifetime at least to make a dent in it.
Sadly, you are the one who is making incorrect assumptions. And believe me... I wish that you were not.
Consumer electronics was “offshored” in the 1960s-70s. Most of that has become completely obsolete and was replaced by entirely new paradigms, which was “onshored” again in the 80’s, and then offshored again. In the meantime other industries were created - I was in Silicon Valley in the days of its glory. And now the hardware side of that is mutating, and much of it has been offshored. And much of it is now coming back again!
Do not assume that “industries” are discrete and perpetual things. They can change profoundly, and in new forms come right back.
Well only history will tell which of us is correct as to the “big picture”. I do assume the US will run into a great crisis fairly soon, but it will be a social/cultural/tribal conflict, not about economics or production or tech as such. This crisis will pass, but probably it will be bloody. So say I, being as I am the Nostradamus of our times.
“History will absolve me!” - Fidel Castro
We to put America First. We need tariffs and to stop ALL FORMS OF IMMIGRATION. Sorry that is the only hope...
All I can say is good luck with that.
The world is profoundly changed, constantly, by the churn of technology, and this kind of static thinking is always getting overturned and carried off in these raging waters. We and our desires, or what we think are our desires, are just motes in the stream of history. We can wish, but always we are just carried off. Maybe where we want to go, but usually not. Its always better to deal. To swim, not to sink.
As for me, I no longer live in your country, so you can have that at least.
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