March 7, 2018

America's Productivity Problem: Turns out that Bitcoin is just part of the problem.

Bitcoin.


Turns out that people's addiction to Social Media isn't the only reason for problems with America's productivity.

We can blame Bitcoin, too.

This fascinating New York Times article (read it here) looks at the crypto currency Bitcoin and its influence on America's productivity, as well as Bitcoin's enormous use of electricity.  The article also points out another startling statistic:
Roughly 20% of adults in the United States, who are in their prime working years and are not otherwise disabled, are neither working nor actively looking for work. Those people are not included in the published federal unemployment rate.
Just think about that.  If we were to include that 20% segment of the United States adult population, the true unemployment rate would not be 4.1 % (the latest available government published national unemployment rate, as of October 2017), but nearly 25%.

Yes, a true United States federal unemployment rate of nearly 25%.

And to think I grew up with a rotary dialed telephone and a small TV with an attached antenna and manually dialed channel selector.  And we actually walked to school.  Today's younger generations probably wonder how us 50 plus year olds survived!

About Mary Rae Fouts, EA

Mary Rae Fouts, EA provides tax, insurance consulting, and expert witness services to clients who have technical or complex concerns.  For more information visit FoutsFinancialGroup.com.

Mary Rae Fouts

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