- Oct 30, 2004
Of course we will have a large and broad underclass--after all--the third world nations' we are merging our economy with also have large and broad underclasses. Basic economic principles dictate that when the supply of available labor increases dramatically--such as a merger of the U.S., Indian, Chinese, and Mexican populations--relative to a relatively fixed demand for that labor--that wages--the price point, must decrease. Since we are continuing to allow foreign outsourcing, H-1B and L-1 visas, and mass immigration (legal and illegal), it is inevitable.Interesting you mention that, economist Nouriel Roubini who predicted crash, has said that there are two US economies emerging. One where people that have jobs and businesses that are still viable and on the other hand there are roughly 20 million households who are simply not going to recover ever. Or about 50 million people.
We will become stratified like Mexico, with peasants, serfs, plebeians, begging in the streets while some in the middle class maintain their position and top controls all wealth.
I personally don't put much stock in it understanding Americans will cause enough social disorder to make a system like that untenable for long.
But will Americans rebel against the Demopublican Party? I don't see it happening. Many nations are fairly stable while a large percentage of the populace lives in abject poverty, such as the South American nations. I think Americans will just accept widespread poverty as being a natural part of the free-market and will continue to uphold their dogmatic belief in meritocracy.
If Americans were smart enough and energized enough to rebel, we wouldn't be in this position in the first place.
Are you ready to become a part of Third World America?