The offshored jobs were not replaced with the promised “New Economy” jobs. No one has seen any sign of the mythical New Economy jobs. The “New Economy” is the transformation of the once powerful US economy into a third world labor force where new jobs exist only in domestic non-tradable services (services that cannot be exported) such as retail clerks, hospital orderlies, waitresses, and bartenders. As there are not enough of these jobs to go around, the labor force participation rate has dropped sharply.
The United States is an economic basket case. Washington has given away the US economy to Asian countries with lower labor costs. The owners and mangers of capital have benefitted, but the vast bulk of Americans have suffered. As capital’s owners and managers are not sufficiently numerous to drive the economy with their expenditures, the fabled American economy is no more.
http://www.paulcraigroberts.org/2015/04/29/dwindling-us-economy-paul-craig-roberts/
Have you by chance heard the blather coming out of Marco Rubio's mouth about a "new American century"?
Dear Marco: Neither you nor anyone in government can create a "new American century". Neither you nor anyone in government can create decent jobs for all the Americans who need them. Neither you nor anyone in government can make the undocumented workers go away. Neither you nor anyone in government can do anything the bankgangsters, oligarchs, and their collaborators in the one percent don't want. And they don't want a strong US middle class or well paid workers.
Stop lying to us. We've heard it all before, and it's utter bullshit.
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