Today, CNNMoney.com reported a loss of 79,000 jobs in the U.S. economy. Most of these were from goods producing businesses – 76,000 to be exact. As reported by Automatic Data Processing, the largest sector of losses was in manufacturing with about 44,000 production jobs lost.
More and more jobs disappear by the month in America. When will our leaders wake up and smell the coffee, hear the music, or see the writing on the wall. Manufacturing is gone in America and it’s not coming back -- not today, not tomorrow, not ever. America is no longer living in the industrialization age. We’re now in the information age.
America must take three steps in order to address our current situation.
1. The federal government must invest heavily in America and Americans to stimulate new industries and new job growth – supply side economics.
2. The federal government must decouple America’s economy from finite natural resources and instead base it on the potentially infinite resources of the human mind – intellectual capital.
3. Our current economic models and their assumptions must also be changed to follow suit with steps 1 and 2.
Such tasks are not small. But if America hopes to maintain its status as a world economic power, we must make these changes now before it’s too late.