In fairness the GFC wrecked your economy something shocking and its only just starting to recover. It was never going to be a quick recovery.
Lol.
if only he were not so averse to jewish people, we could teach him a thing or two about economics.
Wowsers. Were you home schooled by @Flaming Pie ? You don't know?
Please no ad hominems, I said you were fine if you had a job, of course if you didn't you were screwed. People had less pay, but prices were lower alsoWowsers. Were you home schooled by @Flaming Pie ? You don't know?
Red line below shows price index normalized to 1929. Prices decline sharply between 1929 and 1933
View attachment 3848784
US unemployment rocketed to more than 20% during same interval. Note that this was a time of single income families. As we all know, official unemployment rate under reports unemployment. Safe to say that more than a quarter of all workers were out of a job. Also, many workers that had jobs were kept them by accepting less pay. States and counties were practically bankrupt. Many state and county workers had a job but practically no income.
To repeat what you said, "if you had a job (with a good income), you were fine". I added a few words to make it correct. But for the most part across the country people were not "fine". The economic crash created deflation. Once the cycle of deflation set in, the economy kept spiraling down. It took massive government spending during the war era to break the hold that deflation had on the economy.
What a stupid ass post.
More along the lines of general education levels increasing people's ability to question sheep mentality and compete in a Global job market. While some may not directly benefit (financially) with more education, higher education is always a benefit and becoming more and more important. Competing for work is now Global, not within your borders as your simpleton President-Elect is insinuating.
what an informative post!
what a stupid ass post.
This is a real world example of what I was referring to in my first post, automation in manufacturing (and other industries like retail/food/services) is just ramping up. We're on the verge of another tech revolution, with automation that will replace many traditional jobs. That said, all of those machines run on software, that software gets constantly updated/fixed. The infrastructure/technology these machines run on doesn't magically appear, it has to be designed and implemented, then maintained regularly. But the people doing this new work certainly need more education than a line worker or someone flipping burgers at Mickey D's. Then there's AI, another area with much bigger implications than losing a $15/hr. job.
Well said but ill add people can still benefit and make an income from the changing job market without an education or a trade. Tourism, small business and the service industries for eg.
As pointed out in other posts, automation is doing a lot of the work that was previously done by a lower educated working class. This process is inexorable in that automation has real benefits to industrialists and consumers in the form of higher quality, predictable operations and lower cost of management. Sometimes automation ends up costing more but usually there is a cost benefit too. What I'm wondering is what do people do when the jobs that they used to do go away?
True but GE makes most of the engine parts overseas. Much cheaper wage. The only parts we make are worth over $50k. And now we are in additive manufacturing. No machining. It's play doh molded, baked and becomes metal. Then laser sintering additive as well as eb weld additive we do. Most going overseas. Only parts hard to ship are made here.
I have 34 days to retirement. I'll piddle in my shop with my ham rig and maybe open it back up. I used to do warranty work for Sony and others while I worked in a factory as well. The problem is dealing with the public. Especially collectors. Their 50 year old Collins rig is their crack. They will wait while you repair it. If they have to leave something they would cry. I hate working on other people's problems. Today a shipper part machine was down. $150k part needed 3 more days of machining. Has to ship Friday. Power track that holds the sealtite had open 3 phase motor wires. Several days work so we jury rigged it. That's the part of a machine repairing a machine is a bit out there yet. But some day. Dexterity is an issue. And some out of the box thinking. We have laser gages that measure the tools before and after a cut to check tool wear and adjust offsets. I've seen noise from intermittent sources trip the laser gage incorrectly scrap a $100k part. To find it is tough. I've spent a month on a ge 550 control to find a bad electrolytic cap causing intermittent problems. That's why my son and son in law went in to maintenance. The problem now is most end up in field service and end up in Singapore or Turkey for a month. Fanuc is always hiring.
