OT: New grad/profession/school pay….

[Arraya]

[quote=equalizer]. Worse yet, were funding cut off, there would be student outrage over it when stopping funding is exactly what is needed to bring costs down.”

[/quote]

Wait until the outrage from several years of graduates not being able to find jobs while having unserviceable debt.

This is another slow-moving, debt-induced social catastrophe on our hands, in which we’ll blame the victims.

Something like 60% of the 780 billion in debt is either deferred or in default. A few months ago I read about kids fleeing the country to get away from the debt.

In most industrialized nations you can go to college for free while getting health insurance. Even if it was logistically possible, most americans, from a cultural perspective, would consider it distasteful. I guess, clawing down basic things like an education in such a competitive, reptilian environment makes people hard.

[Arraya]

They considered the economic problems of the 70s to be excessive power of labor(greedy unions) to capital, so the outsourcing was kind of explained away as market punishment to teach them a lesson with the Thatcher/Reagan, neo-liberal economic doctrine. Of course, over this time period CEOs pay went from 50 x the average worker to 400x.

During this time period, since real wages were going down, people were told to take out their credit cards. So we racked up stupendous debt on all levels to fuel the emerging market boom. Of course, finance, that set up the debt orgy, benefited on both ends. Actually, from looking at the capital flows of the 90s(trillions), it’s pretty obvious that the top .1% interests are much more in line with the average chinese than they are with the average american. Also, it’s pretty obvious who was the major beneficiary of the housing bubble, besides finance.

Now is the tricky part, 80-90% of americans and europeans have to accept a quick few steps down(while they are being told they are in recovery) in living standard and Asia has to learn to walk on its own. Since their “growth” was one of a parasite, fueled by unsustainable debt, it won’t be easy.

[Arraya]

They considered the economic problems of the 70s to be excessive power of labor(greedy unions) to capital, so the outsourcing was kind of explained away as market punishment to teach them a lesson with the Thatcher/Reagan, neo-liberal economic doctrine. Of course, over this time period CEOs pay went from 50 x the average worker to 400x.

During this time period, since real wages were going down, people were told to take out their credit cards. So we racked up stupendous debt on all levels to fuel the emerging market boom. Of course, finance, that set up the debt orgy, benefited on both ends. Actually, from looking at the capital flows of the 90s(trillions), it’s pretty obvious that the top .1% interests are much more in line with the average chinese than they are with the average american. Also, it’s pretty obvious who was the major beneficiary of the housing bubble, besides finance.

Now is the tricky part, 80-90% of americans and europeans have to accept a quick few steps down(while they are being told they are in recovery) in living standard and Asia has to learn to walk on its own. Since their “growth” was one of a parasite, fueled by unsustainable debt, it won’t be easy.

[Arraya]

They considered the economic problems of the 70s to be excessive power of labor(greedy unions) to capital, so the outsourcing was kind of explained away as market punishment to teach them a lesson with the Thatcher/Reagan, neo-liberal economic doctrine. Of course, over this time period CEOs pay went from 50 x the average worker to 400x.

During this time period, since real wages were going down, people were told to take out their credit cards. So we racked up stupendous debt on all levels to fuel the emerging market boom. Of course, finance, that set up the debt orgy, benefited on both ends. Actually, from looking at the capital flows of the 90s(trillions), it’s pretty obvious that the top .1% interests are much more in line with the average chinese than they are with the average american. Also, it’s pretty obvious who was the major beneficiary of the housing bubble, besides finance.

Now is the tricky part, 80-90% of americans and europeans have to accept a quick few steps down(while they are being told they are in recovery) in living standard and Asia has to learn to walk on its own. Since their “growth” was one of a parasite, fueled by unsustainable debt, it won’t be easy.

[Arraya]

They considered the economic problems of the 70s to be excessive power of labor(greedy unions) to capital, so the outsourcing was kind of explained away as market punishment to teach them a lesson with the Thatcher/Reagan, neo-liberal economic doctrine. Of course, over this time period CEOs pay went from 50 x the average worker to 400x.

During this time period, since real wages were going down, people were told to take out their credit cards. So we racked up stupendous debt on all levels to fuel the emerging market boom. Of course, finance, that set up the debt orgy, benefited on both ends. Actually, from looking at the capital flows of the 90s(trillions), it’s pretty obvious that the top .1% interests are much more in line with the average chinese than they are with the average american. Also, it’s pretty obvious who was the major beneficiary of the housing bubble, besides finance.

Now is the tricky part, 80-90% of americans and europeans have to accept a quick few steps down(while they are being told they are in recovery) in living standard and Asia has to learn to walk on its own. Since their “growth” was one of a parasite, fueled by unsustainable debt, it won’t be easy.

[Arraya]

They considered the economic problems of the 70s to be excessive power of labor(greedy unions) to capital, so the outsourcing was kind of explained away as market punishment to teach them a lesson with the Thatcher/Reagan, neo-liberal economic doctrine. Of course, over this time period CEOs pay went from 50 x the average worker to 400x.

During this time period, since real wages were going down, people were told to take out their credit cards. So we racked up stupendous debt on all levels to fuel the emerging market boom. Of course, finance, that set up the debt orgy, benefited on both ends. Actually, from looking at the capital flows of the 90s(trillions), it’s pretty obvious that the top .1% interests are much more in line with the average chinese than they are with the average american. Also, it’s pretty obvious who was the major beneficiary of the housing bubble, besides finance.

Now is the tricky part, 80-90% of americans and europeans have to accept a quick few steps down(while they are being told they are in recovery) in living standard and Asia has to learn to walk on its own. Since their “growth” was one of a parasite, fueled by unsustainable debt, it won’t be easy.

[no_such_reality]

[quote=bearishgurl]
“. . . The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. [/quote]

The word is skilled labor. The silver lining is once that desperate worker gets a job, they’re kids don’t want it. They’ve got a taste of our lifestyle and the kids there want our lifestyle.

So in the end, the big question is: are Americans going to actually build the equipment for powerplant windmills or will we leave that to the largest manufacturer, China. Will we mine the materials needed, or will we leave that to China. Will we smelt our own ores, or will we leave that to China. Will we produce our own engineers, meaning we need to encourage and help our children study, or will we attempt to import them from China.

Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.

[no_such_reality]

[quote=bearishgurl]
“. . . The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. [/quote]

The word is skilled labor. The silver lining is once that desperate worker gets a job, they’re kids don’t want it. They’ve got a taste of our lifestyle and the kids there want our lifestyle.

So in the end, the big question is: are Americans going to actually build the equipment for powerplant windmills or will we leave that to the largest manufacturer, China. Will we mine the materials needed, or will we leave that to China. Will we smelt our own ores, or will we leave that to China. Will we produce our own engineers, meaning we need to encourage and help our children study, or will we attempt to import them from China.

Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.

[no_such_reality]

[quote=bearishgurl]
“. . . The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. [/quote]

The word is skilled labor. The silver lining is once that desperate worker gets a job, they’re kids don’t want it. They’ve got a taste of our lifestyle and the kids there want our lifestyle.

So in the end, the big question is: are Americans going to actually build the equipment for powerplant windmills or will we leave that to the largest manufacturer, China. Will we mine the materials needed, or will we leave that to China. Will we smelt our own ores, or will we leave that to China. Will we produce our own engineers, meaning we need to encourage and help our children study, or will we attempt to import them from China.

Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.

[no_such_reality]

[quote=bearishgurl]
“. . . The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. [/quote]

The word is skilled labor. The silver lining is once that desperate worker gets a job, they’re kids don’t want it. They’ve got a taste of our lifestyle and the kids there want our lifestyle.

So in the end, the big question is: are Americans going to actually build the equipment for powerplant windmills or will we leave that to the largest manufacturer, China. Will we mine the materials needed, or will we leave that to China. Will we smelt our own ores, or will we leave that to China. Will we produce our own engineers, meaning we need to encourage and help our children study, or will we attempt to import them from China.

Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.

[no_such_reality]

[quote=bearishgurl]
“. . . The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. [/quote]

The word is skilled labor. The silver lining is once that desperate worker gets a job, they’re kids don’t want it. They’ve got a taste of our lifestyle and the kids there want our lifestyle.

So in the end, the big question is: are Americans going to actually build the equipment for powerplant windmills or will we leave that to the largest manufacturer, China. Will we mine the materials needed, or will we leave that to China. Will we smelt our own ores, or will we leave that to China. Will we produce our own engineers, meaning we need to encourage and help our children study, or will we attempt to import them from China.

Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.

[Arraya]

[quote=no_such_reality]
Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). [/quote]

Actually, we could run basic necessities, food, utilities, transportation etc.. on like 5% of the population with properly applied technologies. The reality is we don’t need that many people working and we certainly don’t want millions trained for our remaining jobs lowering our skilled workers wages. Heck, one of the ways we keep employment up is making shitty products that break down all the time and shipping plastic crap around the world that wind up in land fills within six months.

[quote=no_such_reality]
Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.[/quote]

Agreed, late-stage capitalism is going to be ugly. But, abundance of cheap labor? It was feudalism for God’s sake! I do agree with ignorance part, which was public policy. We were burning scientists at the stake for going against religion, kind of like we do today with environmental scientists.

[Arraya]

[quote=no_such_reality]
Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). [/quote]

Actually, we could run basic necessities, food, utilities, transportation etc.. on like 5% of the population with properly applied technologies. The reality is we don’t need that many people working and we certainly don’t want millions trained for our remaining jobs lowering our skilled workers wages. Heck, one of the ways we keep employment up is making shitty products that break down all the time and shipping plastic crap around the world that wind up in land fills within six months.

[quote=no_such_reality]
Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.[/quote]

Agreed, late-stage capitalism is going to be ugly. But, abundance of cheap labor? It was feudalism for God’s sake! I do agree with ignorance part, which was public policy. We were burning scientists at the stake for going against religion, kind of like we do today with environmental scientists.

[Arraya]

[quote=no_such_reality]
Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). [/quote]

Actually, we could run basic necessities, food, utilities, transportation etc.. on like 5% of the population with properly applied technologies. The reality is we don’t need that many people working and we certainly don’t want millions trained for our remaining jobs lowering our skilled workers wages. Heck, one of the ways we keep employment up is making shitty products that break down all the time and shipping plastic crap around the world that wind up in land fills within six months.

[quote=no_such_reality]
Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.[/quote]

Agreed, late-stage capitalism is going to be ugly. But, abundance of cheap labor? It was feudalism for God’s sake! I do agree with ignorance part, which was public policy. We were burning scientists at the stake for going against religion, kind of like we do today with environmental scientists.

[Arraya]

[quote=no_such_reality]
Cheap labor may be taking all of the unskilled labor now. That’s the leftovers of Ford’s biggest invention. Eventually, robotics will replace all of them, (I hope). [/quote]

Actually, we could run basic necessities, food, utilities, transportation etc.. on like 5% of the population with properly applied technologies. The reality is we don’t need that many people working and we certainly don’t want millions trained for our remaining jobs lowering our skilled workers wages. Heck, one of the ways we keep employment up is making shitty products that break down all the time and shipping plastic crap around the world that wind up in land fills within six months.

[quote=no_such_reality]
Frankly, I don’t think so, I think we’re about to stall into a second stagnant medieval period, stalled just like then, by the abundance of cheap labor caused by surging populace and ignorance.[/quote]

Agreed, late-stage capitalism is going to be ugly. But, abundance of cheap labor? It was feudalism for God’s sake! I do agree with ignorance part, which was public policy. We were burning scientists at the stake for going against religion, kind of like we do today with environmental scientists.

[Author]

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