Quote:
Originally Posted by JamesGw
The only way I see this decreasing unemployment is by decreasing overhead for businesses so they can hire more professionals. I guess there would be fewer jobless teens? Maybe? I dunno.
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It will only mean lower wages for those in the bottom of the ladder jobs. People higher up the ladder will still demand the same wages.
Will it mean that the US can manufacture goods in the US, that currently are made in the third world by people on very low ages? No, it won't.
The hole the West has dug itself into is obvious. It send so many manufacturing jobs abroad believing the "New Technologies" would save them. Then the old Third World started to get into the "New Technologies" fields.
And yet the West continued to live above it's means by borrowing money thinking it would all be fine. The banks crashed through greed and the house of cards collapsed. Idiots who think The West will continue to dominate the financial markets are delusional. Would you put your money into the hands of the bankers? Well neither will China, India and other Third World Countries.
Remember who told you this first.