Those two assumptions are about 2008 and a tight labor market.
We are looking at the Gross private domestic investment portion of the GDP.
Notice how in Qtr. 1 of 2006 it topped out and continued down until Qtr. 3 of 2009?
I believe this lack of investment actually caused the so called sub-prime mortgage crisis.
As an example, I’m a software developer and around 1997 or so I was just coming into my own because like anything else, it takes about 10,000 hours to get truly good at something.
I bought one of those sub-prime mortgages around 1999 for $189,000 at 4391 S. Pearl St in Las Vegas, NV and settled in for what I thought was a bright future.
All of a sudden around 2000 I couldn’t find work anymore to make my $1,600 per month mortgage payment.
I was able to get out of that mortgage without being foreclosed on, but I lost the money I had put down.
In 2001 I’m working again and I buy a similar sub-prime mortgage at 4451 S. Pearl St in Las Vegas, NV and once again settled in for what I thought was a very bright future.
In February of 2003 we repeat the process, and I haven’t had steady work since then.
Yet I had, and still have, the technology skills that our employers say they can’t find.
Wanting to get back to work, I have now spent 20 years studying jobs and opportunity, so I think I now know more than the so called experts who will rattle off the same propaganda that they have done for decades like the consumer accounts for 70% of GDP.
Looking at the May 2021 OES data, we find the following:
Over the last 20 years I’ve worked with numerous people from India and some from China.
To understand what is happening better about jobs, I will always ask them.
Do the people who move here from other countries, do they do business with American owned businesses, or do they seek out people from their own country to trade with?
In every case, I am told they do not hire Americans, nor do they do business with Americans unless they have no other option.
Whether this is right or wrong, we need to investigate it to truly understand what is happening in the economy.
In this article, I show how the number of Americans working is no higher now than it was in 1996.
The majority of Americans that I have talked to that are being forced out of the labor market like myself worked in NAICS 54.
NAICS 54 consists of:
- Legal Services
- Accounting, Tax Preparation, Bookkeeping and Payroll Services.
- Architectural, Engineering, and Related Services.
- Specialized Design Services
- Computer Systems Design and Related Services
- Management, Scientific, and Technical Consulting Services
- Scientific Research and Development Services
- Advertising and Related Services
- Other Professional, Scientific and Technical Services.
As I demonstrated in the Beginning Chart, 2006 was when I believe our businesses began investing in China and India rather than America, and I believe this actually caused the sub-prime mortgage crisis because quite simply, people like myself who were making between $70,000 to $150,000 suddenly couldn’t find work.
Now lets look at the purchasing power of Americans in America if the foreign born workers were eliminated from this data because they will not do business with Americans in America.
For those that will call me racist, I will simply explain that there is no racism in math, and I simply want to work again, and I’ve followed this trail for decades and this is where it leads.
What would I do different if I had the resources to do so?
I would demand that the Department of Labor actually track all jobs instead of hiding behind the excuse that our data cannot be utilized to calculate job gains year over year, and I would demand that since they started tracking foreign born and native born employed in 2007, that they make it possible so that we can truly study the effects of offshoring and importing a tidal wave of non-immigrant guest workers so that we can build a better future for all, regardless of the country that they migrate from, or live in.
Because right now, we are elevating one family by destroying another family and this is what is causing the inequality in our World.
The jobs data spreadsheet can be downloaded via the following link: