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Why the economic downturn is diff this time
Message
 
To
14/02/2008 11:26:46
General information
Forum:
Politics
Category:
Other
Miscellaneous
Thread ID:
01292172
Message ID:
01292632
Views:
22
>>>No unfortunately, you're not understanding some basics of the US economy, which allows you to read the "stuff" (ut won't allow me to use the word I really want to use) on heritage foundation.
>>>
>>>84,000 and above is the income of 20% of the households (a family living under 1 roof). I do believe there is a fundamental change occurring with the US economy. I was reading about this a while back. How people were earning upwards of $20/hr from factories in rust belt cities. Now their jobs are shipped overseas, the jobs left for them pay maybe $12-14/hr.
>>>
>>>Much like the long tours forced on our US military straining families, so does this reduction in pay.
>>>
>>
>>Here is a view point from my area – Silicon Valley, related to degreed electronics engineers and dot com employees. We lost 60,000 electronics engineering jobs when manufacturing went to Austin, Texas in early 1990’s.
>>
>>2001 saw the dot com bust and we lost 192,000 related jobs. People that stayed in the area typically had to change career fields and earn 30 % less then before. This is one reason why I told my son and daughter to stay away from technology and they did!
>
>
>What did they go into Tom. Arms sales ?

lol. I went into programming. How the mighty have fallen! :)
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