[quote=joec]I agree with a lot of these points. However, one point that needs to be said is that a lot of people actually want to work, but the problem is that the pay/work, etc is simply very very poor. I was watching bloomberg today and the wage gap between rich and poor is the highest it’s ever been in the history of the US. Among the industrialized nations, the US has the widest gap, even though it is common across all countries and growing as well.
The richest 1% control like over 50% of all wealth and I think it said the top 10% control like 80%+ maybe more…forget the exact %.
All that said, unless you work in hi-tech or have an awesome job, like flu says, I think it’s simply incredibly hard to actually make it big…even if your parents did very well. The youth has huge unemployment and unless you code and work in SV, most paying jobs are pretty weak.
Having worked in SV with the whole stock option thing and all that and working in different industries and now self employed, it really is different in terms of pay outside of a select few areas/professions. Most people make no where near enough to survive I think…in most normal jobs, even professional ones.
One risk is also if you get laid off or work in a field that’s slow (like someone said about architecture), you’re going to have a very very hard time finding something half decent. Maybe it’s just been my experience having been laid off, been on unemployment, etc…but unless you’ve been there, I can see why some people like some of these entitlement programs.
The main problem it’s very hard to get out. Also, woe to the engineer now who is making good money, then gets laid off with a mortgage, kids, wife, etc…
Even with savings, family might not be doing that well to help out.
It sounds radical, and I think not anytime soon, but there eventually will be more riots and more revolutionary type stuff since more and more people will be in poverty and quite upset about it.
We’ll end up like Europe with higher unemployment long term and with entitlements similar to become a ‘socialist’ country.
I believe the “best days” of the US are behind it for most Americans…sadly.[/quote]
+1 joe. It IS sad that many young people will never have the opportunity to enjoy the fantastic lives many of us who are a bit older have had. Doesn’t really matter who is to blame, the net result will still be the same.
Don’t know if I’ll see the complete unraveling of America in my lifetime. I hope not.
