Originally Posted by Taf
Shifting a lot of industrial production to the Far East from The West has been a major mistake AFAIC, especially when they want to then sell all that product to the West where many will be unemployed because there is little industrial work, and therefore unable to afford the products!
The West has shown in recent years that relying on national income from banking for GDP is a very big mistake, and relying on credit in all its forms has been building a bubble that HAD to burst at some point.
More and more money earned in countries ends up transferred elsewhere in the world, quite often to countries with lower costs-of-living, fuelling inflation in those countries, and thus mass population exoduses in search of better incomes, usually to The West where they percieve those "better incomes" can be earned.
agreed, I said it years ago and now its been proven true. It was obviously done with short term profits in mind, reduce the cost of labour and keep shareholders happy, however the obvious longer term consequences would be less people working and as such buying the goods. I think however this is not going to be reversed since so much wealth has shifted over to the east we will now see emerging markets where these companies will aim to sell their goods. IT is now massive in india, everyday I get emails spamming offering web development work from india companies, no idea how they got my email but blocking them the email keeps coming from new domains, numerous large companies now outsource development to india, centrica moved their network team to india (source my sister, works for them), eg. if she needs her email account fixed she has to ring india. The obvious casualty is manufacturing as well to china, however another issue with manufacturing is the amount of automation. When I used to work for walkers crisps, the day I started there was 5-8 people manning each machine, those same machines when I left were manned by 3-4 people and plans were in place to drop it down to 1-2 with further automation, parts of the warehouse also got automated as well. On another production line I had seen manning drop by 75% in a 3 year period. The only jobs I see staying consistent is service jobs, like mechanics, shops, hairdressers, healthcare etc. Even shopping is s a shrinking sector as we seeing high street shops falling like dominoes with the likes of tesco selling everything possible and allowing it to be ordered over the internet.
The first obvious thing to fix would be to bring outsourced work back over, however its not as simple as that as any company doing that wold be uncompetitive, everyone would have to agree to do it together which isnt going to happen. The fix the government seems to have in mind is to supply cheap labour to companies as an incentive to keep them employing people here. ultimately tho something has to give for things to get better and that has to be the top 1-2% accepting a loss of wealth, if they dont then this situation will continue. Look at the top 1-2% wealth during the 60s boom era. It dropped significantly. It then rose again during the 80s up until where are we today.
---------- Post added at 09:55 ---------- Previous post was at 09:51 ----------
Originally Posted by Hugh
He didn't call vulnerable people job snobs, he called those who looked down on jobs such as shelf stacking job snobs... Link
If thats what you want to think to make yourself feel better sure.
Personally I would refuse to work there for nothing. I am a job snob then?