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Inside America's Economic Machine - An Infographic
Every now and then, US taxpayer money goes for something useful and surprisingly informative. Such as this infographic from the US Census Bureau deconstructing the "American Economic Machine" or at least justifies its generally accepted popular representation in the aftermath of the recently concluded Census. The graphic cites facts dealing with manufacturing, services, retail trade, construction, government and much more as seen through the numerous economic programs and surveys conducted by the Census Bureau. And while entertaining, we urge readers to remember that there is no such thing as a free lunch, and that the American "economic machine" is merely the culmination of a global financial system that is full to the gills with credit money to the tune of $707 trillion as shown in this infographic previously. Is the trade off worth it? We will find out in the coming years when at some point, we hope, the economy will be allowed to take off on its own and attempt to recreate the virtuous cycle, however without the training wells of the world's central planners who day after day steal from the future to preserve today's house of cards. We are not very hopeful.
[Source: U.S. Census Bureau]
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BS redesigned and with a proper layout - but it remains to be BS.
Unreliable source. Refuse to read. Might as well be NewsCorp style "people familiar with the matter" asshattery.
Billionaire Bill Gross Calls Market "A Ponzi Scheme"
I don't know.... 170 billion in the paper business alone.... guess who's buying the paper.... sounds about right to me.... buy the paper, print 50$ on it in funky colours....
$170 billion in paper products yearly? That's $500 per person or $2000 per household. Seems high, even considering the amount of toilet paper I use.
What the fuck are "charges"? They aren't taxes.
They aren't property or income taxes... My guess would be excise taxes, business licensing, fines/citations/penalties, charges for governmental utilities/water/sewage/garbage/electricity/etc., and bribes?
Fees they charge you for having the temerity to want to try to earn a living. Fucking regulatory scum.
papabear wants to collect retirement while going back to work for the state.
Too... Many... Gears... /epilepsy
Got Sand?
Must be the KDE version
(Giving KDE a bad name)
GNOME2 or bust. KDE stands for Kids' Desktop Environment.
Cinnamon or Enlightenment if you want a desktop environment that isn't a processing time hog.
$850 billion state and local on education...a pile of money to spend to get so little.
rt
khan academy is where it's at!
State and Local Governments: Revenue 2.1T - Expenditures 3.0T and Revenue includes 0.5T from Federal Gov.
And this is why there is practically no decentralized government in the U.S. at the present... and this is also why states and municipalities are going to be clawing at the throats of multinationals and other interests wherever they can (mortgage fraud, skipping out on recording fees, libor, etc.)... given the money from uncle sugar isn't guaranteed and doesn't necessarily come without any strings attached.
To all the state and local employees out there, get ready for a pink slip as contraction consumes your area... and please don't expect your pensions.
They use gears as a metaphor - as if the economy was functioning like a "well oiled machine".
Where are the broken gear teeth, the snapped springs flying, and the "clunk-clunk-boing!" sound effects?
Great metaphor, gears with different dimensions standing still with nothing connecting them. One efficient economic machine.
Anytime I encounter this metaphor, Jethro Tull's Locomotive Breath jumps into my head, but instead of "Old Charlie" I substitute Greenspan.
Ian Anderson for president.
"So you ride yourselves over the fields
And you make all your animal deals
And your wise men don't know how it feels...
To be thick as a brick."
"If X is less than the cost of doing a recall, we don't do it,"
Relaxen und watchen das blinkenlights!
How much money goes to save Bank and keep stock market elevated ?
http://www.freefdawatchlist.com/2012/08/trading-volatility-s-index-vix.html
You ask that question as if it's quantifiable.
(My answer was "yes")
America's economy is not a machine. this is what the presumptuous goverment intellectuals want you to believe. A machine can be fixed. in reality the econmoy is a network of billions and trillions of voluntary exchanges every day 365 days a year. this network CAN NOT be fixed and not be CONTROLED. The only fix is to LEAVE IT THE FUCK ALONE.
Reality: Two rats chasing each other's tails on a spinning plate, with Bernanke the clown close by to catch them when they fall.
One of the rats died 4 years ago and the other broke his leg. Ben alone is doing the spin.
626 billion in retail auto sales and only 28 billion in auto loans ?....Really?
re-hypothecation
They meant to say "retail" auto sales.
Channel-stuffing FTMFW!
The auto loans number is revenue from interest and fees to the banks. That does seem small for $626 billion in auto sales. Perhaps it is after the losses to defaults and reposessions, etc?
I stand corrected...still seems whacky
Also no one walks into a bank nowadays for a car loan. Most major car manufacturers just finance in house. I.E. I pay "Toyota financial services" every month.
There are plenty of local auto dealers making a fucking killing on these inhouse financing methods...
I love how "Federal Sources" is counted as revenue for municipalities...and 25% of it too, at that.
The Federalies have to get their cut first, then 'distribute' what's left.
Wow, 25%? I've been tracking locally for a few years, and I don't think they've ever been much over 10%.
I do though, fully expect the number to rise to over 50% eventually as Wall St. finishes off Main St. and the only remaining "source" of funds is Uncle Sugar and his offers not to be refused.
It'll be like FDR all over again, except with trillions rather than the paltry billions he had to work with.
And no forthcoming american exceptionalism when the rest of the world's manufacturing base isn't destroyed...
Well, this time there won't be any pent-up purchasing power out there, so even if manufacturing capabilities in the rest of the world aren't physically destroyed the results will likely differ little: kind of like the survivors of a nuclear holocaust being nearly indistinguishable from the dead.
Who gives a fack about female owned or minority owned businesses
Anybody who wants to obtain a government contract.
The wit is strong from you today!
You get tax breaks for being a minority or women run business. Take a guess as to how many are actually ran by minorities or women.
About as many as truly handicapped people who park in the spaces.
"Who gives a fack about female owned or minority owned businesses"
Think that thru..................
Me, Mr. Whitey, wants to start a biz.
Mr.Whitey has wife who was going to help
Mr. Whitey is turned down for bank loan b-cuz well, he's white.
However Mrs. Whitey qualifies for super-size low interest loan!
Wife and I launch Whatchamacallit International, Inc.!
Leroy, my friend whos ancestors happened to be from Africa, and I want to start a biz.
Me, Mr. whitey, is turned down for bank loan b-cuz well, I'm white.
However,Leroy qualifies for super-size low interest loan!
Leroy and I launch Thingamajig International,Inc.
Minority owned business gets contract and subs it out to the guys who were quota'ed out of the bidding. Been happening for decades. Inflates costs a good 10-20%.
I don't see student loans as part of the financial services. I guess $1 Trillion in student loans disappearing is as inconsequential as Rumsfeld losing $2 Trillion.
Rumsfeld lost $2 tillion??? When did this happen? How come I didn't hear about this?? Oh that's right - They timed the release of that news on the day before 9/11 happend. Just a coincidence, I'm sure.
I have a toe with a fungal infection do i qualify as a minority?
No.
But your fungal infection probably qualifies for assistance...
HTH.
No, but the fungus does...
Have you ever seen the old Nazi or Soviet propaganda posters?
While the financial system is ready to crack because of Europe and other debt stresses, it is helpful to remember that we are members of the greatest economic machine ever assembled. If any country has the ways and means to survive another financial crisis, it is the United States of America. Check out the infographic provided by the US census by way of ZeroHedge if you have any doubts. Our computer services sector is worth $340bn a year, which is larger than the entire economy of Greece and most of the other countries in the world.
http://dareconomics.wordpress.com/
After a century of absurdly stupid policies, military coups and political chaos, Argentina still survives as a country and has a per capita income that most Africans would associate with paradise. Therefore, "survival" is too low a bar to set for a country, methinks. Argentina used to be the fourth richest country in the world in 1900 - had it maintained its position, today it would be as rich (per capita) as Switzerland.
Argentina's GDP is larger than Chile's. Talk about reality-defying luck.
Nominal per capita is lower. But then again, there is no reason on earth why Argentina shouldn't be a prosperous country with a decent quality of life. The country is huge, its population is small, the land is extremely fertile and the country has been even at the worst of times in a big food surplus. Argentinian beef is still the best in the world in my opinion - nothing beats lean hungry cattle feeding on fresh grass in open country (and certainly cattle fed on corn in American feed lots can't match that taste).
South Florida beef from small-medium local farms is grass-fed. Really good stuff. Can't speak for the rest of the country though, don't know what other states do.
'Therefore, "survival" is too low a bar to set for a country, methinks.'
"Survival" is really another word for "sustainable," in which case if you're not operating at an sustainable level then that means that it ain't going to persist.
But, about levels of living set by States/Countries, isn't that a bit absurd? Shouldn't people, through their own uninhibited associations, be allowed to determine what their living standards should be? (those selecting the non-sustainable paths are free to become extinct)
Where's Banzai7 to "fix" this infographic?
Calling Dr. Banzai7. Please report to Zero Hedge stat. :)
Bills gonna need some spare parts for this one
More proof that the USCB (along with a shitload of other agencies and departments!) need to be shit-canned ASAP!
"the world's central planners who day after day steal from the future to preserve today's house of cards.
..good one.
There was a comment on ZH by someone that the Bernank himself is touting a feel good metric like the Kingdom of Bhutan's Gross National Hapiness.
So no need for infographics.
with increased pressure on cash flow and a general tightening, is it possible health care providers and services may have topped and will, with inevitable short falls, also begin to fall?
Yes. More so if ObamaCare is not repealled.
Got nothing to do with SIZE, everything to do with (eventual) time-frame. Given the US's demographics the path that leads to the cliff is pretty clearly laid out. Figure that more younger people will be spending energy administering to older people and you've got an environment that's not looking like anything that could be labeled "manufacturing powerhouse:" yeah, robots will continue to operate, for a while, but as economies of scale reverse even the costs of running robots will become too much (to support volume output).
The economic engine is so strong that people should be paid not to work.
And as the wealth is re-distributed from the banksters that have stolen most of it more people should be paid not to work.
I hate work. Its like building the f'n pyramids. Why the hell would anyone in their right mind want to do that? Let the machines do the work and if you want a buck extra for helping the machines so be it.
And get rid of all those politicians and that financial sector who needs them. No one likes the fuckers anyhow.
I'm young and I've got my health, what would I want with a job?
And what work is it that the machines will be doing? Keep in mind that debt loads are increasing and "consumption" (esp of disposable income stuff) decreasing. Economies of scale reversing is going to really put a hammer blow to all of this (and then there are the energy issues).
“A small debt produces a debtor; a large one, an enemy.”
Publilius Syrus Quotes
“And to preserve their independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.”
Thomas Jefferson Quotes
“Debt is the slavery of the free.”
Publilius Syrus Quotes
“I go on the principle that a public debt is a public curse.”
-James Madison
“The borrower is servant to the lender.”
-The Bible
When you get in debt you become a slave.”
-Andrew Jackson
Funny the biggest job creator was home health care - something that used to be done anyway for free by the families concerned. In what way is this better? No new value is created that wasn't already, just someone now has to pay.
Nobody needs to position themselves to inherent by caring for their elderly relatives. There is nothing left to inherent.
Conversely, those that do have money don't trust their relations to care for them... machine might 'accidentally' breakdown just when it's needed. They would rather be drained of their last dime than trust their relations.
For those not paying attention, when you clicked on this article a cookie from the Census bureau was put onto your computer. Now they can track you too! Enjoy.
I advise to put a bandaid over your camera, at least they can't see you.
I find the government can be an excellent source of information on a variety of subject matters such as weather, agriculture, nutrition and the law. Oftentimes, for-profit enterprises rely heavily on government sources and then turn around and disseminate much the same information for a profit. I prefer to bypass the middleman with all his javascript ads and instead go straight to the government website source.
That entire graphic should have just been one giant steaming pile of shit.
You have 27 million businesses, 5.8 million of which are large corproations which take in 97% of reciepts. 20% takes in 97% of the cash.
How much do you want to bet that <5% of the 5.8 million take in 90% of the reciepts?
Small business doesn't matter to the economy anymore. What is funny is that realtors are counted in that 3% of receipts. How much of the 3% comes from the bullshit transfer of housing? Does real small business ever account for 1% of GDP?
Then you have the $5.5 trillion value of all manufacturers shipments, which seems extremely high. Most of which is big ticket items. Somehow there is another $10 trillion in economic activity coming from somewhere.
How much of our GDP is the same items being counted multiple times?
It's all bullshit. The entire economy is one giant cooked book.
"That entire graphic should have just been one giant steaming pile of shit."
And a FAKE pile at that, cause real shit at least has compost-able value!
Somewhere we've got to get (back?) to basing things on "value," rather than just some numeric abstract that allows the Controllers to control.
Its out of date
What's that you say?...NO! NO! NO!...
Time to stop waiting for our demise, and turn this mother around! We need to first take care of the CRIMINALS! How?...Come on you thinkers, let's have some ( NO JAIL TIME!) good ideas!...
Our livelihoods, DEPEND ON IT
Who Runs the World ? – Network Analysis Reveals ‘Super Entity’ of Global Corporate Controlalso here
http://www.newscientist.com/article/mg21228354.500-revealed--the-capitalist-network-that-runs-the-world.html
Couple things I noticed that I thought were interesting. For instance, the section on manufacturing is immediately below the section on growing industries, I'm sure because as soon as they finished the first part, someone said "oh shit, these are all in the service sector!", and something had to be done to paper over that.
I also noticed that in the section on what people buy online, there is a misspelled word. Porn is not spelled o-t-h-e-r.