Steve20423

Unemployment: It's Even Worse than You Think

In the great reshuffle America will feel like we are the hardest hit because we have such a high standard of living. many third workd countries the workers are walking or riding bicycles to work.
Our wages must come down to meet the global market place wages. But this is good thing because this depresses the cost of living which in turn reduces pressure on Social Security. As was seen this year payments are fixed for next year ie no COLA .
Meanwhile our natural resources are diminishing.
The problem is developing countries don't pay "Fair Wages". They pay wages that barely allow life to be sustained but not to buy excess of consumer goods and allow savings to occur. So how much growth can those markets yield?

I agree with the comment that we are creating a permanent underclass that will likely be always dependent on the goverment.
Healthcare reform will result in confiscatory taxes that will mark the point of no return to prosperity because no entitlement has ever been cut, and the goverment is powerless to effect cost containment.

To quote musicians as is done in the article;

It's the end of the world as we know it....and I feel fine!

REM