September 23, 2016

The economy stinks, but we're just peachy, according to white working class.

http://money.cnn.com/2016/09/23/news/economy/white-working-class-economy/index.html?iid=H_BN_News

Oh what doomers and tin-foiled econ-"truthers" hath wrought with their endless bullshit about the falsity of official data and countless lies about the US economy.

Even if we ignore the intrinsic contradiction of the article's theme, their main gripes are just the result of the dunghills of lies they have absorbed thanks to doomers.

No, SSI isn't running out of money any time soon despite increased longevity and lower birth rates (in fact it only recently started paying out more than it takes in, and has an enormous muti-trillion dollar surplus), and can be easily rendered secure for the foreseeable future with minor tweaks.

https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html

The US gives less in foreign aid than the vast majority of developed nations - just 0.19% of GDP (in polls, estimates hover around 28% - way to inform folks, guys), less than half that of beleagured Spain and below even basket-case Greece. Despite jingoistic attempts at revisionism, no, military imperial outposts don't count as foreign aid, although I'm sure a few bar and brothel owners in their host nations would miss them.

http://www.statisticbrain.com/countries-that-give-the-most-in-foreign-aid-statistics/

And the granddaddy of all doomer lies. We don't make disposable low-end clothing or cheap WalMart tchochkes that much these days, it's true. But people who can see past their own rectum know that this is because we are too busy making more valuable capital goods and higher profit higher-IP protected products as well as leveraging our natural resources (and no, Zephyr Buttercup, military hardware isn't even close to the top of manufacturing by category). 30% less industrial output than China!!!!! Well sure, with 75% less population that's an obvious travesty.

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_sector_composition


But we're way down historically!!!! Nope - output has grown since the supposed manufacturing boom of the 70s. We make a crapload more, in constant dollars, now than we do then (this chart ends mid-recession and has increased greatly since btw), we just do so with fewer people.

http://mercatus.org/publication/us-manufacturing-output-vs-jobs-1975