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I believe China looks at the U.S. as having maybe 10 good years left and after that serious decline. They see our federal debt as our downfall and they are rapidly trying to create a consumer middle class to replace the U.S. consumer.
Globalization ,in my view, is a race to the middle. In 40 years or so we will have the same standard of living as much of Asia and a few others. This will take awhile due to our extremely high standard of living.
As far as the under 30 crowd. It will be very difficult for them to adjust. They are accustomed to a cushy life and the future looks very difficult with a downward standard of living. I feel sorry for them. It will be a tough road.
I believe China looks at the U.S. as having maybe 10 good years left and after that serious decline. They see our federal debt as our downfall and they are rapidly trying to create a consumer middle class to replace the U.S. consumer.
I agree. I think they know things are going downward already, went to go google and found this...
HONG KONG, Feb 11 (Reuters) - With China's exports falling sharply for a third straight month, factories in China's southern manufacturing hub are bracing for more pain as tight credit and falling orders bite, though the cost burden could ease a little.
China on Wednesday announced that exports in January fell 17.5 percent from a year earlier, after a more gentle 2.8 percent dip in December, while imports plunged 43.1 percent -- twice as much as the month before. [nPEK263772]
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Globalization ,in my view, is a race to the middle. In 40 years or so we will have the same standard of living as much of Asia and a few others. This will take awhile due to our extremely high standard of living.
I would say its a race to the bottom but agree with your general sentiment. Global serfdom with most living at the same third world standard of living. The sad thing is do not envision a agricultural society, or the USA reverting back to pre 1910s farming life, they will be herding everyone into cities.
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As far as the under 30 crowd. It will be very difficult for them to adjust. They are accustomed to a cushy life and the future looks very difficult with a downward standard of living. I feel sorry for them. It will be tough road.
I feel for them too. They have been given a pipedream, many going to universities selling them an entire delusion.. I am already noticing most of my younger family members are struggling even the ones who shelled out 10s of thousands on the college degrees. They are not prepared. At least if one is raised poor, they learn survival skills, those who sink down the class ladder are left adrift.
I believe China looks at the U.S. as having maybe 10 good years left and after that serious decline. They see our federal debt as our downfall and they are rapidly trying to create a consumer middle class to replace the U.S. consumer.
Globalization ,in my view, is a race to the middle. In 40 years or so we will have the same standard of living as much of Asia and a few others. This will take awhile due to our extremely high standard of living.
As far as the under 30 crowd. It will be very difficult for them to adjust. They are accustomed to a cushy life and the future looks very difficult with a downward standard of living. I feel sorry for them. It will be a tough road.
Your assessment neatly summarises exactly how I think things will pan out for the US.
Not necessarily tin foil hats all round but a marked decline in standard of living.
I would say its a race to the bottom but agree with your general sentiment. Global serfdom with most living at the same third world standard of living. The sad thing is do not envision a agricultural society, or the USA reverting back to pre 1910s farming life, they will be herding everyone into cities.
I feel for them too. They have been given a pipedream, many going to universities selling them an entire delusion.. I am already noticing most of my younger family members are struggling even the ones who shelled out 10s of thousands on the college degrees. They are not prepared. At least if one is raised poor, they learn survival skills, those who sink down the class ladder are left adrift.
Most of those who wanted to increase their living status by debt instead of earning it will be a looser right off the starting gate (or take out debt for useless degrees)...and unless they pay it all down it will only get worse.
Right now cash is king and little to no debt is the place to be.
Live below your means and build up that savings account for a rainy day.
But if inflation rears it's ugly head..that won't be a pretty picture at all.
Remember that book "Everything I know I Learned in Kindergarten" or whatever the title was?
I relate that type of analogy to the small city I live in and it's economic experience as a precursor of things that might happen. When I was a kid 90% of my friends dad's (and some moms) worked in factories and about 10% of the others were successful business owners, doctors, and lawyers and such. In the past 40 years every single one of those factories has closed down.
So, what has happened? Most of the young people have had to move to find work, about 20% of families also. Another 20% have moved in from elsewhere to take advantage of welfare and slum apartments that 30% of the preexisting population use as their major form of livelihood collecting HUD rents. Half the city is now such housing. Locally owned business have gone under as no one has money to buy and a few that are left cater to a more debased society. Kids don't want to extend the family business cause they can make more without risk in this climate working for someone else. The very few specialiazed high tech jobs which can't be off shored were filled by trained workers who came in from outside with only the janitor and security guard jobs for locals. Lots of people on disability. Everyone else who wasn't already working for the govt or in taxpayer funded jobs is scrambling to get on the govt payroll in light of pensions, med ins, stability, and decent salaries. Nepotism is even more rampant than before. The rest have either given up or are working for one of the every increasingly large social service agencies and/or in nursing homes. Depressing to be sure and I hope that's not what we're headed for in the rest of the country.
There are some remaining good points - the physical beauty of the place and things to do in nature, not really any escalation in crime (which probably isn't typical), still lots of community service organization and activities, people are still friendly, and the price of homes hasn't gone through the roof. Survival however is a lot more sketchy than it use to be.
Take a look at how countries like Zimbabwe and Somalia are doing today.
That's America's future & the sad thing is that it could have been avoided.
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