Reflections

The rest of the world produces, and America consumes. Well, what exactly does America make anymore? We're not that great at making cars, or computers, or anything high-tech. And we're too high and mighty to go into manufacturing - textile, etc. We're going to end up as a nation good at making only block-buster movies and rap music. While the rest of the world - especially China and India - have made economies favoring production and exports, we have an economic structure that is based on solely consumption. Our economic stays afloat with the real estate market, and only 40% of all housing purchases are made by people who actually bought houses to live in. The rest is all speculation. There is something wrong with this picture.