Not quite what I recall. They were saying that the country would run out of taxpayers - not enough new workers to pay for all the new retirees. Used to be that the ratio of geezers on the dole to workers shelling out taxes was something like 1:7. But forecasts were suggesting the future average (~2030 or so) would be 1:2. That's crazy go nuts numbers and requires HUGE cuts in SS plus MASSIVE tax increases.
the strong survive and the weak lose their jobs. people will have to learn to "work" again and realize that a college degree and a title are just bogus. you cant sit around and do nothing and expect something. you earn your keep or you get out. if we do make it beyond this , it will be amazing the boom we will have because the strong will become stronger. they will have sharpened their skills that werent as sharp when there was room for error. some of the weak will start to step up to the plate. for the ones that dont, too bad. to the republican comment above this mine. - dems breed and embrace laziness - if you ask why i say that, think about why dems want govt to have their hand in everything. really think about it.
America is gonna fall like the Ottoman Turk empire did. Read up on the History of the Ottoman Turks and it compares to our nation.
Well up until the mid 90's we still had a lot of manufacturing jobs here Now we mostly just sell crap to each other that was made in another country. The reason we peaked as an economy in the 90s is because we were in the middle of transferring from a manufacturing based economy to a consumer based economy. Most people still had their jobs but we also had an influx of cheap stuff from china. win-win
so is there a solutiuon to it? why not stop syphon off $100billion on wars budget for a start? Stop immigration. The UK is even worse! --------------------------------------------------- well, we still have massive 'guest' worker programs the country that's a dumping ground for the world's unemployed is going to have an unemployment problem
One of the main reasons is that there was a lot of mal-investment due, largely, to the gov't and the fed. Give tax breaks, low interest rates, etc. to homebuyers and that eventually fuels a lot of jobs and offshoot jobs. When that all stops, we lose them. There are other reasons, of course, but all these distortions with the markets give wrong signals and lead to pain/unintended consequences down the road.
Job creating has been pathetic since 2002. The only reason the unemployment rate went down is because a lot of people dropped out, living off debt, home equity etc. We have too much labor supply because business got scared that there was going to be a big labor shortage due to boomer retirements (and they got greedy with labor arbitrage). Overseas investment played a roll as well. Productivity was increased in the US (less jobs) and the money was re-invested overseas created jobs there, instead of here.
Because the most dangerous gang of all (old, white money) found that 1/3 rd of the world will work for 14cents/hr, 16 hrs/day, 7 days a week, no union, no pension, no healthcare, no bathroom breaks. Ask any Republican or business owner where his single greatest cost of doing business is and before you finish your question he will tell you "labor" Pay less for similar labor = good for the bottom line. And the bottome line IS the bottom line. Nations be damned. It's not about loyalty, it's about opportunity. Besides you never heard of a rich man getting a job from a poor one did you? Quit your whining about closing Maytag plants and moving em to Mexico, it's gooood for the economy not my bank account. Pay no attention to that Gulf stream for my hookers. My kids are already going to Harvard so what do I care if tuition ramps up to 50k-100k/year. Get a second/third job you slacker. In the 80's and 90's you the consumer could get away with that because the coming entropy hadnt reached your job or these shores. YET. Keep Chargin that Visa, let the good times roll, where's my freakin 50 inch plasma tv. I cant pay for my bowling ball and have a negative savings rate, but thats just conversation. Meanwhile Mr China and Mr India marshall their strength and wait... And train... and see the decadence of the fat, dumb American who has had too much for too long and whose future generation throw a hissy fit if AT*T network is too slow for them to text on their tricked out Iphone. And after 25 years of this, the genie is out of the bottle. Whitey has lost his hold on the reins of power. And the rest of the world doesnt want to wear Levi's. They want to OWN Levis plants and have YOU buy them. But now the problem is: you got to EARN the dough to purchase from THEM. No more credit. Time to work. And building a internet site does not qualify as "work" Using a shovel does though. Hope you have a strong back. Would you like fries with that? You have only seen the end of the beginning, not the beginning of the end. The sh*t is just starting to hit the fan. Mr Politician is selling you out now. He's got to git while the gittin is good. Game on, now. Good luck.