Very, very true. The first is hard to fight, although we should at the least all be able to agree to stop policies that actually subsidize American companies moving offshore. The second should be easier to fight, just lower legal immigration and actually fight illegal immigration. An over-supply of anything destroys its value, and labor is no different.
The American dream was essentially a blue collar dream. The well-educated do pretty well everywhere, but America was unique in that an uneducated but reasonably intelligent person willing to work hard to become quite successful, owning a house, later an automobile or even two, sending his kids to college. That one-two punch is emasculating the uneducated hard worker, destroying his chances to own a house or send his children to college so that now government is taking over those responsibilities. And that's a very bad thing indeed.
Even if the U.S. were to to have 10 million PhD-level researchers and engineers, there wouldn't be 10 million new jobs waiting for them.
I personally know perpetual post docs or waiter post docs in civil engineering/chemistry and so forth.
The ugly truth despite politicians pimping education education education, and setting up next bubble which will crash banks, the education bubble, is the number of positions available for high-end researchers, designers, etc. is intrinsically small.
In the value chain of production there are few $100 an hour jobs, and many $5-10 an hour jobs.
Totally stripping out visa vi globalization religion the $5-10 jobs causes us to tax higher get in debt more so 100 million people can sit at home watching TV to prop up the current status quo and is unsustainable.
Never mind the fact the vast majority of mere mortals do not have the brainpower or drive to become research scientists, doctors, top-level designers, etc. so shipping out everything below that that top level in the value chain basically is planning for high unemployment levels on purpose.
Americans have been betrayed by bought shill economists and politicians who broke the "social contract" for large corporate profits and criminal theft from future taxpayers to fund our current consumption.
Another thing is personnel debt levels are insane as Americans faked being middle class by taking by equity they had and mortgaging it to fund consumption e.g. HELOCs, CC and so forth. Banks were more than willing to extend and pretend. This mask has disappeared with housing implosion and people are finally starting to feel the effects heretics like Ross Perot talked about. Took 20 years but effects are real for plenty. American dream is DOA for even many college grads and really dead for working class.