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(141,322 posts)

22. It undergirds the economy with its use across different sectors

Thu Sep 5, 2024, 05:01 PM

Sep 5

but only contributes about 9% - 11% of the GDP - https://www.statista.com/statistics/1239480/united-states-leading-states-by-tech-contribution-to-gross-product/

The biggest sector, which includes many many "forgotten people", are the "services", covering 70+% of the GDP - https://www.statista.com/topics/7997/service-sector-of-the-us/

This visualizes it -

(from here - https://www.visualcapitalist.com/visualizing-u-s-gdp-by-industry-in-2023/)

If you are ignoring the "AI bubble", then I'm not sure what else to tell you. Even "crypto", that is using massive amounts of "tech" to even exist, is going in and out of "bubbles", and it's only a matter of time.

But again, it is a very narrow segment of the whole economy and certainly the "profit" thing is not unique to "tech" but is a major driver to just about everything in our economy (the healthcare sector "chasing profits" is going through issues now as well).

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"We are sliding into "recession" territory." BumRushDaShow Sep 5 #3

Thanks. Agreed. And, continue to be surprised stopdiggin Sep 5 #6

It's an artifact of past practices and their unfortunate aftermath BumRushDaShow Sep 5 #7

couldn't agree more. and what concerns me further is that this stopdiggin Sep 5 #9

Needless to say I don't share your optimizing. lapfog_1 Sep 5 #18

For some bizarre reason BumRushDaShow Sep 5 #21

Remember... BrianTheEVGuy Sep 5 #4

I'm not aligned BrianTheEVGuy Sep 5 #17

Not really accurate BrianTheEVGuy Sep 5 #20

It undergirds the economy with its use across different sectors BumRushDaShow Sep 5 #22

I see where our misalignment is now BrianTheEVGuy Sep 5 #23

To reply BumRushDaShow Sep 6 #24

It's different from the 80s or even the 00s BrianTheEVGuy Sep 6 #26

Again to reply BumRushDaShow Sep 6 #28

Ugh BrianTheEVGuy Sep 6 #29

Your entire discourse in this subthread BumRushDaShow Sep 6 #30

Lower interest rates already!!! JFC! They are waiting for a recession??? LymphocyteLover Sep 5 #5

It was inevitable, I was hoping for after the election IronLionZion Sep 5 #10

So far, the ADP numbers have been miles apart from the DOL ones BumRushDaShow Sep 5 #11

142,000 from BLS this morning IronLionZion Sep 6 #25

Yup BumRushDaShow Sep 6 #27

Nothing like squelching business with ultra high interest rates WhiteTara Sep 5 #13

"Nothing like squelching business with ultra high interest rates" BumRushDaShow Sep 5 #15

This was the Fed's plan, right? maxsolomon Sep 5 #16