Quote:
Originally Posted by Rochard
Of course you know better. Sure sure.
For example, you understand the workforce participation rate has little to do with the economy, right? The workforce participation rate has been on a downward trend for the pasty forty years, while the economy has not. The workforce participation rate has to do more with the age of workers. In very simple terms, the baby boom generation is aging out of the workforce....
It's always comical how when we discuss unemployment, you want to talk about something else - the "true" unemployment rate (which has also been cut in half in the past seven years) and now the "workforce participation rate".
I don't think Obama is our savior; I just want the economy to do good.
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There you get it spot on. So what happens when all those people are thrown out of a job?
There are parallels to your system. Wages for the masses being barely enough or no jobs. With a tiny elite make billions and producing a great economy.
Chinese Farmer income to reach 11,000 (US$1,175) yuan in 2015
The average assembly worker in Shenzhen now makes 2000 RMB ($328) per month
But China added 2 million millionaires in 2014 alone, a nearly 50% increase from 2013.
China 213 Billionaires in 2015
This is a country that 50 years ago couldn't feed itself. Where did this progress come from?