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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Wyätt Gwyön who wrote (16716)2/5/2004 10:52:32 AM
From: GraceZRead Replies (1) of 306849
 
Well then we'll get more competitive by the painful process of becoming a supply of low cost labor. If you look at economies like South Korea you find an enormous percentage of the working population is self-employed as we were prior to the world wars. What you had here with the large number of people making a great salary working for these large corporations was a growing middle class whose great salary was inflated away by their own carefree spending. What further evidence is needed beyond the current real estate market?

Plus, Michael Dell and Bill Gates took a great deal of people right along with them. One doesn't have to be the entrepreneur to benefit from the process by which new companies and new industries are formed. I realize that most people don't have what it takes to be entrepreneurs, they want the false sense of security that comes from a job, but as people are constantly pointing out, this security turned out to not exist. No job is safe and secure, anywhere. The world is far less accommodating to those who want to do the same job their whole lives. I worked for myself and what I did for a living still turned into dust almost over night. I morphed it into something else at an equal salary but it took a few years of pain to do it. That transition would have been almost impossible had I been working for someone else. Those who had jobs doing what I did are probably still trying to figure out what to do, collecting unemployment or working for even lower wages at some other service job.

I think people will be amazed at just how long this trade deficit with Asia will last without bankrupting either country. We're the ones who have a strong internal economy not dependent on exports. I already know I might be the only one on this thread who believes this so you don't have to remind me.
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