The rich don't work because they don't feel they need to and thus they want to. They spend years in expensive universities pretending to attend useless degrees. The poor need to work but they don't want to. They keep on begging, getting food stamps, stealing, hustling, pimping, pushing drugs. The middle class is getting unemployed. So who will work in America? Illegal immigrants? China/India via imports/outsourcing?
Are traders doing any productive or useful work? I learn to trade partly due to lack of any decent jobs for people my age. If you are over 40 and don't think you can afford to retire by 50 or so, get a government job or start your own business. Private sector has little use for you once you are in your 50's.
China, half and fully automated machinery. Will convert resources to consumable products. India, automated systems, illegal immigrants. Will provide various services.
americans will just enjoy the fruits of others' labor through our entitlements. i mean we were born in america which clearly shows we deserve free food, utilities, cars, color tvs, cell phones and a bit of spending money on the side- o yeah and healthcare and a retirement after all our long hours spent sitting on our fat asses eating the fruits of others' labor.
Well that would continue to be true, if only America could realize that constant technological advancement is what makes America what it is. America has stopped innovating, and other countries are catching up through reverse engineering or buying technology from one another. Basically America is losing its edge. If America doesn't continue to innovate at the speed and pace it used to, US will be the new UK and very soon. We all know what a hellhole and shithole UK is. Obama has achieved nothing. He is totally incompetent.