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People with degrees making 13 bucks an hour
- Thread starter KINGOFSHORTS
- Start date
Gab,
How were the bottle at this time ?
How were the bottle at this time ?
Well if a man earns a dollar a day you can't sell him a 10 dollar steak.
wont globalization over time mean a drop in wages to a mean of sorts and prices as well?
prices stayed kind of high in the us because of cheap credit and people charging it.
but cheap credit is going away.
wont globalization over time mean a drop in wages to a mean of sorts and prices as well?
prices stayed kind of high in the us because of cheap credit and people charging it.
but cheap credit is going away.
Quote from auspiv:
People need to stop getting fucking dumb degrees where they'll be making shit after graduating with a boat-load of debt, which will take forever to pay off.
Psychology, sociology, history, asian art, the list goes on and on..
I work in the tech sector and personally know 6 people with computer science degrees who can't find stable full time jobs. 4 of them are actually really smart and are hardworking but they are forced to take contract positions and whatever random part-time work they can find.
Quote from lemeeeplay:
I work in the tech sector and personally know 6 people with computer science degrees who can't find stable full time jobs. 4 of them are actually really smart and are hardworking but they are forced to take contract positions and whatever random part-time work they can find.
That is because techsector is next after manufacturing for offshoring to foreign countries.
Silicone valley will be the detroit of the future.
I heard that later it would be accountants,etc..
Quote from noob_trad3r:
That is because techsector is next after manufacturing for offshoring to foreign countries.
Silicone valley will be the detroit of the future.
I heard that later it would be accountants,etc..
Which leaves the only industries left in the U.S. as retail and service.... paying an average of $10 to $13 per hour.... not a very optimistic future.
What was home lending like in '64?
How could you not afford a house that cost "only" 2x your income? Nowadays people are/were buying houses with a relative cost much higher then that.
How could you not afford a house that cost "only" 2x your income? Nowadays people are/were buying houses with a relative cost much higher then that.
Quote from hoodooman:
In '64 I had a high paying engineering job and If I was making 26k, I would have thought that I had died and gone to heaven. But houses in DC that I looked at and couldn't afford were 45k.
Keep this in mind when thinking about globalization. It's not just about low skilled labor.
India and China combined have a popualtion of about 2.5 Billion people.
Let's take the top 10% of their populations and assume that this number represents the best and brightest.
That's 250 million people.
Our total population is 307 million people. Our top ten percent would be almost 31 million.
I'll admit, that there are many intelligent (top 10%ers) people in both India and China that will not be using their intellectual talents anytime soon - they may be living in a remote region, or belong to a lower caste, etc...
Nonetheless... there are a lot of them out there... and many of them would be happy working for 10 dollars a day.
India and China combined have a popualtion of about 2.5 Billion people.
Let's take the top 10% of their populations and assume that this number represents the best and brightest.
That's 250 million people.
Our total population is 307 million people. Our top ten percent would be almost 31 million.
I'll admit, that there are many intelligent (top 10%ers) people in both India and China that will not be using their intellectual talents anytime soon - they may be living in a remote region, or belong to a lower caste, etc...
Nonetheless... there are a lot of them out there... and many of them would be happy working for 10 dollars a day.