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  • nobankersplease nobankersplease Aug 5, 2011 11:09 AM Flag

    WHAT NOW?????

    Interesting comments, here are some more. There is just way too much labor capacity in The US and the world. And the supply is increasing. And the demand for that labor continues to shrink. So there is a huge problem, labor costs should be going down year over year, but in the US and Europe, there is an inefficient market built by amalgamation of unions and government subsidized labor. The only way this labor subsidy has been sustained is thru taxation and borrowing....voila, we can no longer tax and borrow to support the inefficient model. Did you know that after the Black Death in Europe, when 1/3 of the population died, labor became a scarce commodity. More people became land owners and standards of living rose. We are in the exact opposite environment...there are too many people on the planet, too litle demand for their services, and globally, standards of living have been built on credit and currency deflation. It is all going to end...i just hope some little guy with a moustache and brown shirt does not emerge somewhere.

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