Midwest economy recovering faster

Kansas belongs to a nine-state bloc covering the Midwest and Plains states that Creighton University in Omaha watches for economic progress. Its latest report is encouraging.
The Business Conditions Index for the Mid-America region grew to 56.2 in September, compared with 48.4 in August and 51.7 in July. A score above 50 suggests economic growth in the next three to six months, the AP reported, adding this comment from Ernie Goss, Creighton economist who heads up the survey:
“This month’s large bounce is a welcome surprise and further evidence that economic recovery is under way.”
Not only are businesses and industries doing more business, but jobs are finally being created in our area. Goss warn-ed, however, “that job gains are likely to be very modest until well into 2010.”

ECONOMISTS HERE and elsewhere worry aloud that the United States may be facing a jobless recovery. That is, that business activity may pick up but that unemployment will re-main high.
One of the ways to fight that trend is to revive the manufacturing sector of the American economy. For years now, American capital and America’s entrepreneurs have been devoted to so-called service in-dustries: finance, insurance, computer software and similar non-thing things. All the while, industrial jobs fled the U.S. for other countries, forcing America to im-port much of what it used to make.
Examples abound. Most American homes have two or more television sets, none made in the U.S. Few American men own a shirt or a pair of socks made in the U.S. When did you last see a camera for professionals made here?
Ford is left alone as a profitable U.S. car manufacturer.
The leading edge of American business shifted from making things that people need to practicing more sophisticated ways to create wealth because so much more money could be made so much quicker and could be concentrated in a much smaller number of hands. A new plutocracy was created in a remarkably short period of time. Multi-million dollar annual incomes for individuals became unremarkable.
As a result, capital that could have been invested in factories making wind turbines, solar panels, cars that people would buy and houses that working families could afford went instead to money manipulators, who had discovered ways to multiply thousands into millions and millions into billions without creating a single usable, tangible thing in the process. (It all happened electronically, without even creating enough paper in which to wrap a fish.)
The rest of the story is that those clever folks outfoxed themselves and the rest of us and brought the economy down in shambles.
Peering out from the wreckage some might decide that the way forward is to retrace our steps and become manufacturer to the world again. Ah, for a map to that long lost land.

— Emerson Lynn, jr.