What is wrong with American economy and why average people suffer

[retaxis]

America economy is completely based on industries that don't provide any meaningful jobs or important jobs to its society which is why the living standards and homelessness/prison population keeps increasing.

For example, companies worth hundreds of billions if not trillions use to employ millions of people and directly/indirectly support millions of more jobs

But America economy is based on companies like youtube, facebook, twitter, google, instagram etc that provide insignificant amount of jobs to others and only the billionaires become far richer but the average person gets poorer and no jobs. Furthermore America economy is also based on so much useless legal fees/education in trans studies/pencil pusher jobs that is why the economy exports so little.

For example two companies with not much difference in total net worth is Youtube and Toyota.

Youtube hires 2800 employees
Toyota hires 366283 employees

Toyota is providing 150x the number of jobs compared to an internet company like youtube and therefore provides a far greater service to society. Meanwhile Youtube helps its major share holders become extremely wealthy while the Rest of the population does not even get bread crumbs.

We know why America living standards have fallen tremendously and crime has elevated significantly due to internet companies such as facebook, youtube, apple, twitter, paypal etc making the american economy look huge but in effect, only the major share holders/owners make the money while the rest of America is suffering because of no jobs/no money and working 3 part time jobs to survive.

 

[Hamartia Antidote]

Youtube hires 2800 employees
Toyota hires 366283 employees

You are only looking at a narrow small picture.

Toyota has 375,235 employees worldwide but 135,000 of them are in the US.

Meanwhile youtube has a minuscule number of employees in Japan.

Yes, 50 years ago we had a ton of people on mindless menial assembly lines making things like Christmas decorations for a low wage (only 11% of the population had a college degree).

In the 1970's due to pollution laws increasing the cost of manufacturing those jobs were sent to China where education levels were low (and so were pollution laws) and they were happy to take those jobs.

You are correct the people that lost those jobs now are likely part of the urban poor as the liberals thought everybody could get degrees and work in white collar jobs (yeah right!). Now they just "solve" that jobless problem with welfare.

Meanwhile in 2023 only 53% of people between 25 and 64 have college degrees. Not exactly 100%. White-collar jobs are approximately 60-65% of the workforce. In my state it is over 70%.

BTW China it is still only 8% with degrees.

 

[retaxis]

Toyota has 375,235 employees worldwide but 135,000 of them are in the US.

Like how pretty much all the jobs for Apple etc are overseas?

Meanwhile in 2023 only 53% of people between 25 and 64 have college degrees.

And 85% of them are mickey mouse degrees like bachelors of african women history and bachelors in gender studies or worse, bachelor of arts. All that does is make poor indebted college students who give up on life and work at Mcdonalds making $9.50 an hour with a masters degree

 

[Hamartia Antidote]

Like how pretty much all the jobs for Apple etc are overseas?

Most are in the US but your question is moot since you are talking about manufacturing jobs and almost all of Apple's employees are white collar workers. They outsource almost all of the physical labor jobs to companies like Foxconn.

And 85% of them are mickey mouse degrees like bachelors of african women history

All that does is make poor indebted college students who give up on life and work at Mcdonalds making $9.50 an hour with a masters degree

If minorities are going to get degrees in fields with low job prospects then that certainly is contributing to the problem.

 

[Menthol]

Yes, the job will be less.

But tech companies pay their workers much higher than blue collar worker salary.

To be honest, the people themselves don't want to become blue collar workers as well.

I think USA economy is not sustainable in the long run as automation becomes more and more common.

The only solution is to adopt a free basic salary for those who are not working.

USA will become a half-communist country, but of course the politicians need to invent a new word for it, to lie and manipulate the public so it's not sound like communism.

 

[fitpOsitive]

America economy is completely based on industries that don't provide any meaningful jobs or important jobs to its society which is why the living standards and homelessness/prison population keeps increasing.

For example, companies worth hundreds of billions if not trillions use to employ millions of people and directly/indirectly support millions of more jobs

But America economy is based on companies like youtube, facebook, twitter, google, instagram etc that provide insignificant amount of jobs to others and only the billionaires become far richer but the average person gets poorer and no jobs. Furthermore America economy is also based on so much useless legal fees/education in trans studies/pencil pusher jobs that is why the economy exports so little.

For example two companies with not much difference in total net worth is Youtube and Toyota.

Youtube hires 2800 employees
Toyota hires 366283 employees

Toyota is providing 150x the number of jobs compared to an internet company like youtube and therefore provides a far greater service to society. Meanwhile Youtube helps its major share holders become extremely wealthy while the Rest of the population does not even get bread crumbs.

We know why America living standards have fallen tremendously and crime has elevated significantly due to internet companies such as facebook, youtube, apple, twitter, paypal etc making the american economy look huge but in effect, only the major share holders/owners make the money while the rest of America is suffering because of no jobs/no money and working 3 part time jobs to survive.

What's wrong with US economy? Well it's not competitive anymore. That's the reason why China rose, because China was competitive. But now India is winning because it is becoming more competitive. Tomorrow it might be Pakistan and day after tomorrow may be someone else.