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there is big difference now compare with the pst
in the past when the US is in trouble the world is also in trouble
now us is in deep trouble while most other countries epsicailly in asia and south america is doing just great growing at the average of 6%
us is just no longer competitive
it wasted all its resources in warsThis article follows the familiar dialog that holds several misconceptions about our current situation.
#1 Manufacturing is roughly 20% of our economy. Thinking that an increase in manufacturing is going to lead us out of this recession is unrealistic. Of course we want manufacturing to be profitable and grow if possible, but the service sector is still what supports our economy and several elements of it are heavily influenced by housing (foreclosure) problems, unemployment and real estate devaluation. Add to that business is still very leery of tax increases and budget deficits that can business growth and compete for business capital. Analysts have been exhibiting low expectations for businesses as they report. It makes for good news for stock markets but realistically doesn't give much strength to sustained economic growth.

The media grabs onto every feel good story they can, but when you get to the detail of many of these stories they are full of broad generalities and lack real specific detail of what is going on. The markets are being driven by daily low volume trading by a select group of "high frequency" computer traders that keep driving the markets in an effort to establish new highs for stock prices. Recently the trading has become range bound and the media is making loud cries of "get in now, don't miss the rally!" This is just the unfortunate situation that draws in a lot of people who get stung when the markets fall.