For countless middle-class families who have experienced job loss or an unexpected financial setback, the American dream has become an American nightmare.
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Spokane
Monday, November 25, 2024
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There is a huge problem that no politician will talk about: We just don’t need labor like we used to.
So much of what it takes to maintain a middle class life style is produced by fewer and fewer people. I was told by an economist that only 15% of the people in society make 100% of the stuff. This includes food, housing clothing all of it. This means that 85% of us are either unemployed or in the service sector.
How many hair-cut’s, counseling appointments and doctors visits does the economy need? Not enough to employ 85% of the population that’s for sure.
And I recently saw a headline that said HALF of all current jobs can be done more cheaply by computers RIGHT NOW.
Who is going to buy the products of capitalism?
A new system will emerge over the next generation or two. It will not be a painless process.