Our Children's Future
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| Wed, 10-21-2009 - 8:27am |
I was writing yesterday about unbridled immigration and job competition in the future and lo and behold, this was in the news this morning. Though it doesn't make mention of immigration in this article, common sense tells us that fewer jobs than people means competition.
As we bundle our kids through years of higher education at ever increasing costs, as we (and they) take on huge debts as a way to help secure them a decent job, will the jobs be there?
Higher jobless rates could be new normal
WASHINGTON – Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.
That could add up to a "new normal" of higher joblessness and lower standards of living for many Americans, some economists are suggesting.
The words "it's different this time" are always suspect. But economists and policy makers say the job-creating dynamics of previous recoveries can't be counted on now.
Here's why:
• The auto and construction industries helped lead the nation out of past recessions. But the carnage among Detroit's automakers and the surplus of new and foreclosed homes and empty commercial properties make it unlikely these two industries will be engines of growth anytime soon.
• The job market is caught in a vicious circle: Without more jobs, U.S. consumers will have a hard time increasing their spending; but without that spending, businesses might see little reason to start hiring.
• Many small and midsize businesses are still struggling to obtain bank loans, impeding their expansion plans and constraining overall economic growth.
• Higher-income households are spending less because of big losses on their homes, retirement plans and other investments. Lower-income households are cutting back because they can't borrow like they once did.
That the recovery in jobs will be long and drawn out is something on which economists and policy makers can basically agree, even as their proposals for remedies vary widely.
Retrenching businesses will be slow in hiring back or replacing workers they laid off. Many of the 7.2 million jobs the economy has shed since the recession began in December 2007 may never come back.
"This Great Recession is an inflection point for the economy in many respects. I think the unemployment rate will be permanently higher, or at least higher for the foreseeable future," said Mark Zandi, chief economist and co-founder of Moody's Economy.com.
http://news.yahoo.com/s/ap/20091019/ap_on_bi_ge/us_vanishing_jobs


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OK, I will have a conversation with you when you can respond
"Good thing Obama's science czar wrote a book on forced abortions and population control."
I don't understand the relevance of this to the discussion of immigrants, racist or otherwise, but do you have links that show Obama's plan to control population by forced abortions, as implied in your statement?
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