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stansd.
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November 30, 2007 at 11:23 AM #11029November 30, 2007 at 11:32 AM #105576
GoUSC
ParticipantI see where he is going but if American’s (or foreign people) don’t consume there would be no reason for companies to invest. Peter is a little too much doom & gloom and, at the end of the day, the answer is somewhere in the middle.
November 30, 2007 at 11:32 AM #105666GoUSC
ParticipantI see where he is going but if American’s (or foreign people) don’t consume there would be no reason for companies to invest. Peter is a little too much doom & gloom and, at the end of the day, the answer is somewhere in the middle.
November 30, 2007 at 11:32 AM #105699GoUSC
ParticipantI see where he is going but if American’s (or foreign people) don’t consume there would be no reason for companies to invest. Peter is a little too much doom & gloom and, at the end of the day, the answer is somewhere in the middle.
November 30, 2007 at 11:32 AM #105707GoUSC
ParticipantI see where he is going but if American’s (or foreign people) don’t consume there would be no reason for companies to invest. Peter is a little too much doom & gloom and, at the end of the day, the answer is somewhere in the middle.
November 30, 2007 at 11:32 AM #105725GoUSC
ParticipantI see where he is going but if American’s (or foreign people) don’t consume there would be no reason for companies to invest. Peter is a little too much doom & gloom and, at the end of the day, the answer is somewhere in the middle.
November 30, 2007 at 12:33 PM #105606stansd
ParticipantI think he’s right on. He’s not bemoaning consumption, but consumption beyond your productivity (which will ultimately drive your salary) and the fundamental value of your assets.
I won’t paint the full story here, but I work at a Fortune 500 Tech Company in finance. I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. They can hire in Mexico or India for half the salary and 3/4 the productivity.
This has been going on in IT for some time, but it is rapidly working it’s way up the food chain. I’m 31, and I expect my inflation adjusted income to roughly tread water over the next 10 years while I get promoted and take on additional responsibilities that would have doubled my inflation adjusted income if I’d started 20 years ago.
I’m better positioned than most, but the average American has absolutely no concept of how their lifestyle is going to change.
Stan
November 30, 2007 at 12:33 PM #105756stansd
ParticipantI think he’s right on. He’s not bemoaning consumption, but consumption beyond your productivity (which will ultimately drive your salary) and the fundamental value of your assets.
I won’t paint the full story here, but I work at a Fortune 500 Tech Company in finance. I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. They can hire in Mexico or India for half the salary and 3/4 the productivity.
This has been going on in IT for some time, but it is rapidly working it’s way up the food chain. I’m 31, and I expect my inflation adjusted income to roughly tread water over the next 10 years while I get promoted and take on additional responsibilities that would have doubled my inflation adjusted income if I’d started 20 years ago.
I’m better positioned than most, but the average American has absolutely no concept of how their lifestyle is going to change.
Stan
November 30, 2007 at 12:33 PM #105696stansd
ParticipantI think he’s right on. He’s not bemoaning consumption, but consumption beyond your productivity (which will ultimately drive your salary) and the fundamental value of your assets.
I won’t paint the full story here, but I work at a Fortune 500 Tech Company in finance. I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. They can hire in Mexico or India for half the salary and 3/4 the productivity.
This has been going on in IT for some time, but it is rapidly working it’s way up the food chain. I’m 31, and I expect my inflation adjusted income to roughly tread water over the next 10 years while I get promoted and take on additional responsibilities that would have doubled my inflation adjusted income if I’d started 20 years ago.
I’m better positioned than most, but the average American has absolutely no concept of how their lifestyle is going to change.
Stan
November 30, 2007 at 12:33 PM #105737stansd
ParticipantI think he’s right on. He’s not bemoaning consumption, but consumption beyond your productivity (which will ultimately drive your salary) and the fundamental value of your assets.
I won’t paint the full story here, but I work at a Fortune 500 Tech Company in finance. I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. They can hire in Mexico or India for half the salary and 3/4 the productivity.
This has been going on in IT for some time, but it is rapidly working it’s way up the food chain. I’m 31, and I expect my inflation adjusted income to roughly tread water over the next 10 years while I get promoted and take on additional responsibilities that would have doubled my inflation adjusted income if I’d started 20 years ago.
I’m better positioned than most, but the average American has absolutely no concept of how their lifestyle is going to change.
Stan
November 30, 2007 at 12:33 PM #105730stansd
ParticipantI think he’s right on. He’s not bemoaning consumption, but consumption beyond your productivity (which will ultimately drive your salary) and the fundamental value of your assets.
I won’t paint the full story here, but I work at a Fortune 500 Tech Company in finance. I’m seeing a huge mind shift toward outsourcing, even for finance jobs that require a significant amount of judgment and expertise. They can hire in Mexico or India for half the salary and 3/4 the productivity.
This has been going on in IT for some time, but it is rapidly working it’s way up the food chain. I’m 31, and I expect my inflation adjusted income to roughly tread water over the next 10 years while I get promoted and take on additional responsibilities that would have doubled my inflation adjusted income if I’d started 20 years ago.
I’m better positioned than most, but the average American has absolutely no concept of how their lifestyle is going to change.
Stan
November 30, 2007 at 12:53 PM #105708kewp
Participantstansd,
If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.
I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.
Given that we over-consume anyway, can’t say that I think this is a bad thing.
November 30, 2007 at 12:53 PM #105768kewp
Participantstansd,
If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.
I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.
Given that we over-consume anyway, can’t say that I think this is a bad thing.
November 30, 2007 at 12:53 PM #105752kewp
Participantstansd,
If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.
I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.
Given that we over-consume anyway, can’t say that I think this is a bad thing.
November 30, 2007 at 12:53 PM #105743kewp
Participantstansd,
If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.
I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.
Given that we over-consume anyway, can’t say that I think this is a bad thing.
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