Confused over economy?

i don't believe in economic theory because its only a theory

'The economy' is the 'economy' of a steadily diminishing handful of trans national corporations. In the last decade most of the cash these mega-corporations have amassed has gone to buy each other out to increase market share. Very little has gone to 'increase production' because world production is already at 100%. Mechanical efficiency and computer streamlining has reduced the number of workers needed to serve the machines and almost all of those workers are now low wage Chinese, indian and other 3rd world people. The US has essentially been mined out and clear cut by corporate entities. Our glut of insane buying using easy credit has bankrupted a large part of our population....there's no more 'effective demand' to drive our domestic economy. The employment universe has shrunk as a large percent of production has been shipped overseas. Meanwhile our population has increased much faster than employment opportunities. The trans national corporation's policies have wiped out the American middle class, but have increased the middle class of both China and India. Why bother with our 300 million mostly broke or semi broke American consumers when you have several BILLION chinese and indian consumers? Certainly 'the economy' is recovering, but that doesn't translate to an employment rich environment for the American wage earner. We used to consider a 5% unemployment figure a reasonable economic fit. Today realistically if we can get to any thing under 10% we're doing good. Low wages and high prices for basics like food, housing, medical care, utilities, education and transportation will prevent much of a resurgence of worker prosperity. If we could restructure our trade polices to favor the American worker we could improve the employment situation, but the trans national corporations are happy with low wage workers, paying bribes to 3rd world thugs instead of US taxes and they aren't ever going to accept most of the environmental laws of this country...why bother when a small bribe gets them home free in Bangladesh or Mexico? The economy of wealth is going strong...the economy of the American working class isn't...and it won't be no matter who we 'elect'....the same corporations run the world though under a democratic regime things will be somewhat better for the American wage earner. It will be totally messed up under a GOP/Teabag/Fox 'News' Axis regime....they work exclusively for the corporations.

""Beyond a certain point ... the United States would be forced into a position of defaulting on its debt.

And the implications of that on our financial system, our fiscal policy and our economy would be catastrophic," he told the National Press Club."

"Beyond a certain point"...

Bernanke meant playing repub politics with the Budget is a Dangerous mistake

Corporations economy is Cash Rich, their problem what to do with the cash they made from laying off employees, and productivity from the scared straight leftovers.

1.Increase the dividend, 2.Buy Back Stock, 3.Invest the money in new prospects.

Un employment doesn't prove it, but all other indicators prove that the economy is creeping back up.

wall street is climbing the Wall of Worry...repub wall of worry for Votes.( you might notice that repub senators are no longer knocking the economy)..just the Sheeple.

For the month of January, only 30,000 new jobs were created. So, it's more like a stagnated economy for the moment.

An article from yesterday makes me worry:

"Federal Reserve Chairman Ben Bernanke on Thursday issued a stern warning to Republican lawmakers that delays in raising the United States' $14.3 trillion debt limit could have "catastrophic" consequences." http://news.yahoo.com/s/nm/20110204/ts_nm/us_usa_f...

How is 14.3 trillion in the hole not enough?