Jim
Geraghty points to a number of hopeful signs, and advises us to quit putting our savings into gold and scouting out property in Belize:
Faith in the future is returning; we're making more new Americans — a.k.a. "babies" — again:
The newest child birth rate numbers have just been released by the Centers for Disease Control and Prevention (CDC), and the report indicates that there were 4,736 more births in 2013 than there were the year before, which shows an increase that America hasn't seen in five years.
We're doing this while reducing teen pregnancy, births, and abortions: In examining birth and health certificates from 2010 (the most recent data available), Guttmacher Institute found that approximately 6 percent of teenagers (57.4 pregnancies per 1,000 teenage girls) became pregnant — the lowest rate in 30 years and down from its peak of 51 percent in 1991. Between 2008 and 2010 alone, there was a 15-percent drop.
At 34.4 births per 1,000 teenage women, the birthrate was down 44 percent from its peak rate of 61.8 in 1991. The abortion rate is down too: In 2010, there were 14.7 abortions per 1,000 teenagers, which is the lowest it's been since the procedure was legalized. . . .
The scale of the U.S. energy boom is jaw-dropping: "According to the U.S. Bureau of Labor Statistics, the number of new jobs in the oil-and-gas industry (technically a part of mining) increased by roughly 270,000 between 2003 and 2012. This is an increase of about 92% compared with a 3% increase in all jobs during the same period. The BLS reports that the U.S. average annual wage (which excludes employer-paid benefits) in the oil and gas industry was about $107,200 during 2012, the latest full year available. That's more than double the average of $49,300 for all workers."
We're at the dawn of the era of private spaceflight: "SpaceX, Boeing and Sierra Nevada are building new manned spacecraft with the goal of restoring U.S. human spaceflight capability by 2017."
. . . As David Plotz lays out, there has never been more news published than there is today; web sites of media organizations from the New York Times to Fox News publish literally hundreds, sometimes thousands, of new items a day. Sure, you can say a lot of it's crap. A lot of anything is crap. But the barrier to entry in the news world is obliterated. We're no longer in an era where the number of pages and column-inches in the New York Times, and the time limits of the nightly news,set the limits for what the public sees and reads. Despite the commencement mobs and the political-correctness enforcers, this is a golden age for free speech.
Many millionaires came into existence during the Great Depression. The huge wealth transfer from inflation and f currency.
ReplyDeleteSo sure, lots of people will get rich in a double dip depression. Democrats usually. Politically and blood line connected Democrats, specifically. One tier down would be the bureaucrats, like VA union (supposedly) members with six figure salaries and IRS managers.