<plunging jobs>
I would not expect increasing unemployment in the
years ahead. Quality of life may take a hit, as
people start paying for the excess of the past
several years. Prices for everything will be
higher, and taxes will rise a lot.
Well, let me qualify that first remark--there may
very well be further industrial job losses, although
that cannot be a very big part of our economy anymore.
You tell me. I can't tell you what is made in America
anymore (you can be sure that I was disappointed to
find that my Ford Explorer bought a year ago, turned
out to be manufactured in Ontario). The jobs of the
future are going to be biotech, software, healthcare,
education.
And as the boomers retire, there will be a lot of jobs
created to serve them. But they probably wont pay too
well, healthcare, recreation, service economy stuff.
Tech will always create jobs, but the dot com bust
was so huge, it is probably going to be awhile before
that can play out properly.
<I guess those ideas should tie most of it all together>
Well, everything ties together somehow. I saw your
post about ten year treasuries in the 2's and the
long bond in the 3's. That would really be something
to see, but whether I am right, or right for the
wrong reason, those rates would throw gas on an
already hot real estate market. If I can get a 15
year loan for under 4%, I might have to take some
equity out of my house and spend it on some serious
upgrades, hardwood floors, luxury bathroom with the
spa for a tub, sunroom, maybe remodel the garage too.
edit...as boomers retire, that is freeing up jobs
which have to be replaced too--they're the big
demographic--there you have it, we have to speed
up their retirements to stimulate job growth.
Keep in mind, like most folks on SI, I am practically
typing as fast as stuff pops into my head. I have
no freaking idea what I am talking about, just
conversing for entertainment really. |
