C
Cut-Throat
Guest
I posted this on another forum. It has scary implications for not only those who are working, but also anyone trying to calc a SWR.
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There are thousands of very highly educated young people pouring out of Universities in India and other countries. A highly skilled engineer with a Masters Degree will work in these countries for $250 a month ! $3 Grand a year. This is too tempting for U.S. companies that are exporting jobs by the thousands. They are working at U.S. companies over the phone lines. This is real, is happening and is growing by leaps and bounds!
If you do your work over a telephone and computer, you are at risk. If this continues and we keep bleeding jobs there will be no sustained recovery. When unemployment rises in the U.S. to levels not seen since the depression, jobs will be going for a small percentage of what they have been. The cycle continues with people buying less, causing more unemployment and lower salaries. Prices drop because of little demand, causing more unemployment.
Deflation on a Grand scale! Depression could be the worst in U.S. History. Capitalism run amuck! Politically, this will be a cry for more government! To regulate the jobs being farmed out. Hoovervilles will be constructed once again. A new FDR may have to step up to the plate!
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There are thousands of very highly educated young people pouring out of Universities in India and other countries. A highly skilled engineer with a Masters Degree will work in these countries for $250 a month ! $3 Grand a year. This is too tempting for U.S. companies that are exporting jobs by the thousands. They are working at U.S. companies over the phone lines. This is real, is happening and is growing by leaps and bounds!
If you do your work over a telephone and computer, you are at risk. If this continues and we keep bleeding jobs there will be no sustained recovery. When unemployment rises in the U.S. to levels not seen since the depression, jobs will be going for a small percentage of what they have been. The cycle continues with people buying less, causing more unemployment and lower salaries. Prices drop because of little demand, causing more unemployment.
Deflation on a Grand scale! Depression could be the worst in U.S. History. Capitalism run amuck! Politically, this will be a cry for more government! To regulate the jobs being farmed out. Hoovervilles will be constructed once again. A new FDR may have to step up to the plate!