The USA needs to educate their children better in the sciences and mathematics fields in elementary, intermediate, and high school. Otherwise, we will continue to have a surplus of workers in this country that are only able to perform "low-level" jobs. Education is key in order for the USA to avoid a lower quality of life in the future, and allow us to compete for jobs vs the rest of the world, and more importantly Asia-Pacific.
Says that the Community College system is vital to helping workers getting "re-trained" in our Economy.
Why doesn't everyone (in America) just open an IB account and daytrade the minis? Screw math and science...starting in kindergarten, children can train 6 hours a day on a realtime trading simulator. Now longer would it be the jocks getting all the chicks. It would be the dude pulling 15 ES points out of the market everyday who had the HOT blonde. We can have the rest of the world produce our goods while we sit in front of the screens all Day.
If anyone is listening 2 what greenspan has 2 say they R a douche .......jobs coming back 2 the US ....come on thats like believeing that mfg is gonna come back 2 the US ....lemme c I can pay some chinese 120 a month 2 do what it wud cost me 25x that here in the US ,...... makes sense think that eco recovery right around the corner .........2 3 trillion $ deficit no problem
You fail to grasp the point that Alan Greenspan was making in regards to Education in the United States and how it effects our Standard of Living. If you are not able to educate the workforce in the sciences and mathematics, then you wind-up with a workforce that is not able to create and develop "new" technologies that will allow for what Joseph Schumpeter called the "Economics of Creative Destruction" You laugh about what the BIG DEAL is when it comes to paying a Chinese guy $120 per month two do your labor for you, yet you obviously have no understanding that if a large majority of a country's workforce winds up working for $120 per month because they have fallen behind the rest of the world in EDUCATION then you have a country with a very low Standard of Living . . . For example, 65% of the college graduates in Japan have engineering degrees. Only 6% of United States college grads have engineering degrees. The only current "growth" industry that we have right now is that of EXPORTING DEBT under George Bush! You my friend are the douche-bag for not being able to realize this.
Who is Greenspan to say what the market demands from workers in the way of qualifications? Such a claim is pure arrogance, but I guess thats why he is a central banker.