stagflation?

[StageLeft]

Originally posted by: 91TTZ

Originally posted by: Skoorb
I should note that in regards to foreign labour, as places like India take more and more jobs their economies will get better, and before you know it a guy who used to work for $10k is now requiring $15k for the same job.

That's true to an extent, but you have to take the numbers into consideration. The USA only has 280 million people, while India alone has 1.06 billion people. And China has 1.3 billion people. So our 2 main outsourcing countries have 7.6 times as many people as us. It will have a huge effect on the US while only a small effect on those very populous countries.

It's like emptying a glass of water into a bucket. The glass will go empty long before that bucket gets full.

Well hopefully our standard of living will not go down, but rather theirs will go up, all afforded by a worldwide ravaging of the environment, as there's no other way to pay for it.

 

[smc13]

Originally posted by: 91TTZ

Originally posted by: Skoorb
I should note that in regards to foreign labour, as places like India take more and more jobs their economies will get better, and before you know it a guy who used to work for $10k is now requiring $15k for the same job.

That's true to an extent, but you have to take the numbers into consideration. The USA only has 280 million people, while India alone has 1.06 billion people. And China has 1.3 billion people. So our 2 main outsourcing countries have 7.6 times as many people as us. It will have a huge effect on the US while only a small effect on those very populous countries.

It's like emptying a glass of water into a bucket. The glass will go empty long before that bucket gets full.

You need to take numbers into consideration as well. Look at how many/few jobs have outsourced and look at what fields. Look at how much/little effect it has had on the economy.
Now, predict what the effect will be here and there in 5 years, 10 years, 20 years. As Indian salaries rise, will Indian companies decide it is cheaper to outsource? As Indian salaries rise, will we find it cheaper to outsource somewhere else? What will the effects be?

 

[upsciLLion]

Originally posted by: Skoorb

Originally posted by: 91TTZ

Originally posted by: Skoorb
I should note that in regards to foreign labour, as places like India take more and more jobs their economies will get better, and before you know it a guy who used to work for $10k is now requiring $15k for the same job.

That's true to an extent, but you have to take the numbers into consideration. The USA only has 280 million people, while India alone has 1.06 billion people. And China has 1.3 billion people. So our 2 main outsourcing countries have 7.6 times as many people as us. It will have a huge effect on the US while only a small effect on those very populous countries.

It's like emptying a glass of water into a bucket. The glass will go empty long before that bucket gets full.

Well hopefully our standard of living will not go down, but rather theirs will go up, all afforded by a worldwide ravaging of the environment, as there's no other way to pay for it.

As natural resources become more scarce (read: more expensive), technological advancements will have to step in and innovate so that consumers have something to substitute away to. They will demand it if the price of natural resources becomes too high.

 

[shilala]

My point with the unemployment numbers was to try and expand FlyLice's narrow view of the economy as stated in numbers.
I think Skoorb's, upscillion's and 9ITTZ's views show so much more of what it's about.
Our economy is in the tank. It's getting worse.
The war hasn't bolstered the numbers. When the war is over, we'll have much less use for durable goods as impacted by technology (the intersne, communications, etc.).
The whole tech age is wonderful, but it's tough to replace the jobs lost making vehicles, machines, and so on with jobs making cellphones and computers.
The world is changing rapidly and we're missing the boat.
9ITTZ's comments about the economy's imminent collapse of is right on target, IMHO. If I had to predict a timeframe I'd choose 18 months after the last troops come home from Iraq. To take this one step further, I'd use this same line of thinking to assure that George keeps troops overseas as long as he's in office.
The overspending for the war effort is the only thing keeping this country from stepping on it's dick right now.