There’s really no evidence that deflation is going to help workers improve their lives. Spain is a good example. Not sure 50% unemployment for people under 30 is really that great. Nothing like a lost generation of youth to screw a few score of speculators.
Europe’s benefits looks ok at the moment, but wait another 10-20 years. Their issues with entitlements looks way worse than the US.
For the balance to shift back to workers, what’s needed is higher labor cost growth outside the US, increased employment, and more middle-tiered skills jobs in the US. At the end of the day, it’s supply and demand.
[quote=spdrun]Overly rapid industrialization of third-world pestholes, impacting the global environment.[/quote]
Why wouldn’t other countries try to get to the same quality of life as 1st world countries?
