pigdog67

The Greatest Depression Is Coming

The analysis given basically follows that of Ravi Bhatra. It is very good. It cannot predict when but what. Unfortunately the worst has not come yet. No one has taken a hard look at the affect of offshoring. 10s of millions of jobs will go overseas in the next few years, to India and China. The middle class in the USA is going to experience a 50% drop in the standard of living very quickly. This is presaged by the 45% drop in housing prices in some locations. Most people will struggle to survive, feed themselves, pay there rent, healthcare and heat. The rich will start to get hit to as the 'globs' of money to be made from 'managing' offshoring will itself move offshore and the foreign multinationals will come into existence. Why have Cisco when you can have Huawei much cheaper. Why cheaper? Because their management gets paid a small fraction of Cisco's management. US multinationals will continue to struggle and then die wondering 'Why Me?' as the steamroller they started runs them over. Think about it. Many multinationals now have 70-85% of their workers overseas. Don't those people have the skills to eliminate the multinational and start their own foreign based companies. Especially when they see the ludicicrous salaries that bloated mostly incompetent US executives get. They will say 'I would be happy for one twentieth of that salary and I could do a better job'. Hmmm, the light bulb goes on....
Maybe then we will see some outcry about offshoring????