The current economic mess in Western Europe and the US China Viet Nam New England . Before that, the textile industry left New England , went to the South. Then it left the South, went to... last heard from in China India China
The problem then is how to restart the economy. The housing industry is supposed to lead us out of the slump (historically) but there are at least two problems: an overhead of foreclosed houses and -- ta daaa -- no one with a job that pays enough to buy a house. While "no one" is an overstatement, it does express the large contrast with the 40s, 50s, 60s, 70s and 80s. So, although liquidity is necessary, stimulus isn't stimulating the economy because there are so few jobs that pay more than minimum wage. Nor are the shareholders of the large banks, oil companies, and so on, getting big dividends Because the good-old-boy-&-girl network that runs the boards of directors, each for the other, has authorized billions to be spent, quite unnecessarily, on bonuses, thus removing the money from dividends and, for practical purposes, from the economy.
