Obama’s visit to Nike isn’t about US jobs, it’s about US profits

So… I figured out in my high school economics class that having an economy built almost entirely around the service industry is a really bad idea, and yet here we are, 15 years later, still heading down that road. Why is it a bad idea to focus on service industries? Because eventually we get to the point where there’s no one left who can afford the services that we’re all desperately trying to sell. Common sense. But as long as there’s a profit to be made, why worry about common sense?

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