TheHammer24 wrote:Additionally, the $1,160 of the $1,200 that starts and stays here is spent on those things as well. No matter how you shake it, the availability of cheap labor benefits us immensely. So we innovate. We create new value. And most of that value stays here and is spent on other things, most of which benefits Americans who sell to those that made the money.
I never said cheap labor is a bad thing. If we suddenly stopped importing cheaply made foreign goods, it would be disastrous for the economy. I'm well aware of that. Cheap labor is never going away and, in fact, that was the point of my first post.
What I'm saying is that the US is filled with low skilled workers. Those workers used to be able to get jobs in factories that paid a "family sustaining" wage. Those people are no longer going to be able to find jobs in the manufacturing sector. Some of them can move into the service industry or other areas where workers without any specific skills can get employment, but those jobs rarely pay as well as factory work. Some of them can "go back to school", but with thousands of college grads unemployed/underemployed, will that really solve anything? I'm not advocating we revert back to digging holes with spoons so please lay off the pointless sarcasm.
What I've been saying is that we're going to be in trouble economically until we can find a way to employ those millions of workers again. It's not going to be in manufacturing though, so we better "innovate" a way to quickly find jobs for unskilled laborers. I don't know where those jobs are coming from and don't pretend to have an answer. I'm just stating what I feel is one of the biggest issues looming in our future.