How a New Jobless Era Will Transform America

http://www.theatlantic.com/magazine...-new-jobless-era-will-transform-america/7919/

 

The article is right on, the problem is many believe this is going to be a quick recovery, no one understands that the jobs created over the last 20 years were created during the biggest expansions in our history. Those biggest expansions being nothing but asset bubbles. No one understands that these jobs created over the last 20 years came from speculation and greed.
The problem now is that everyone is trying to push new jobs into the economy by spending trillions of dollars, however jobs cannot be forced on a slowing economy, they have to come naturally. The problem is that most jobs millions of people had just 2 years ago will never ever come back.

Just this last month we heard that the stimulus plan put into play totalling nearly $1 Trillion dollars saved and created 2 million jobs, now I do not believe this to be true, the reason being is that these jobs that were saved by the stimulus plan will eventually be slowing once the stimulus is pushed through. The only reason why these 2 million people they say have a job is because of the stimulus, once this stimulus is done with and all these projects created through the stimulus plan are finished, people will once again be looking for jobs. The stimulus is just a quick fix to see if the economy can hold on long enough to get out of the deep recession its in.

The creation of 125,000 jobs is what the economy needs right now to absorb any new labor force coming in, is this possible, sure it is, can it able to be maintained? I highly doubt it, once stimulus drys up and the government backed programs completely stop the economy will be left to stand on its own, I really think it will be hard for an economy receiving free hand outs for the last few years being able to stand on its own. The only way this economy grows is through asset bubbles and we have learned this time and time and time again, why most have no clue about this is beyond me, they need to understand that natural economic growth is gone for good.

 

Once American employees will be more attractive to hire than Chinese, Mexican and Indian Slaves will we see unemployment go down.

All assuming the US can survive the coming financial tsunami put in place as we speak by it's incompetent and corrupt government and politicians.

 

Great article. In 2005, I had to make a decison....switch careers. Best move ever. Many are facing such a move, in order to keep income.

Structural unemployment is alive.

 

You do realize that articles like this are written and published right about the time that the exact opposite thing is about to happen ... expect an employment boom soon.

 

Eric

What are you doing now? PM me.

 

Then just about everyone is wrong, including GS, the government, the FED, ...,...,...

I think jobs will trickle in assuming no double dip recession, whose delta is much higher than people think. But there are jobs that are asta la vista forever, many jobs that were held by people that are middle aged and have almost no alternatives.

It is a dire situation that has no easy solution. We may see "projects" away from cities where people are housed en-mass in tents. You think I am kidding?

 

What's the answer to this though? We need some new technologies to dump money into. We have none except defense and military. That's all we've got.. excluding wall street, which is talent gone to waste in my eyes.

Really its a problem of focusing on the long term and not the short term, and part of the blame can go to the government, they don't seem to put a lot of thought into anything that happens, in addition to that, bipartisan politics is bullshit(flawed), it's one candidate away from a dictatorship. Not having any choice is always a bad thing. It's practically an oligopoly in representation of the people.. almost a monopoly, which even government and anyone with half a brain frowns upon.

On top of it, when the right people in this country don't get rewarded, they're going to stop producing anything meaningful, that's all there is to it.

 

If you take nothing from that article, remember this :

"...Strong evidence suggests that people who don’t find solid roots in the job market within a year or two have a particularly hard time righting themselves. In part, that’s because many of them become different—and damaged—people. Krysia Mossakowski, a sociologist at the University of Miami, has found that in young adults, long bouts of unemployment provoke long-lasting changes in behavior and mental health. “Some people say, ‘Oh, well, they’re young, they’re in and out of the workforce, so unemployment shouldn’t matter much psychologically,’” Mossakowski told me. “But that isn’t true.”..."

 

In order for that to happen the US wages should be lower than the Chinese wages

Now, that is impossible