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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (65404)7/6/2006 4:34:21 PM
From: mishedlo  Read Replies (1) of 110194
 
Between 1/4 and 1/3 of all American adults have a college degree.

So somewhere between 67% and 75% do not even have a basic degree.
Of those with a college degree how many are PHDs or other advanced degrees? 20%

20% of 33% is what?
Hmm 6.6%

So whatever shortage there is at the top end affects 6.7% of the workforce. Big deal.

Now I am not disagreeing with you about the need for an education, but whatever perceived (or real) shortage there is at the top end (lets call it a 100% shortage which I find preposterous) and we are still only talking about 15% of that workforce. I do not doubt that wages for the top 15% are doing OK. On the other hand you act as if the other 85% are irrelevant.

Median wages have actually been declining. Another fact you ignore while touting wage increases in China that does the US almost no good at the actual salary differentials.

A shortage of jobs (perceived or real) at the high end is in the grand scheme of things meaningless.

Real wages IN THE US are dropping.
That is what matters (to US citizens), not wages in China.
Real wages in the US simply do NOT support the debt loads people are carrying. Any kind of hard landing recession and asset prices and jobs here are going to plunge.

In your world this is irrelevant.
Of course the US is irrelevant in your model as well.

Mish

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