USA, China and Japan Lead Manufacturing Output in 2008
"The first chart shows the USA's share of the manufacturing output, of the countries that manufactured over $185 billion in 2008, at 28.1% in 1990, 27.7% in 1995, 32% in 2000, 28% in 2005, 28% in 2006, 26% in 2007 and 24% in 2008. Chinaâ€™s share has grown from 4% in 1990, 6% in 1995, 10% in 2000, 13% in 2005, 14% in 2006, 16% in 2007 to 18% in 2008. Japanâ€™s share has fallen from 22% in 1990 to 14% in 2008. The USA has about 4.5% of the world population, China about 20%."
Middle Class Families from 1970-2005
John Hunter, Elizabeth Warren
Webcasts of speech by Elizabeth Warren. Interesting data. Looking at standard family (Mom, Dad and 2 kids from 1970 to 2005), in inflation adjusted dollars: earnings increased a great deal (due to women working much more) but disposable income decreased. This is because basic expenses increased: health care, housing, transportationâ€¦ (and this is with assuming employer provided health care â€“ which has really been decreasing in likelihood over time). Those families are also more deeply in debt and reliant on 2 incomes. And if either income producer losses their jobs the economics of the family fail. Which means the family is much more at risk.