by phaster » Sun 15 Sep 2013, 00:13:35
$this->bbcode_second_pass_quote('Loki', '')$this->bbcode_second_pass_quote('phaster', '
')over the weekend on 60 minutes there was a segment on "robotics" and how its now possible for small mom/pop shops to buy a robot which according to the segment can work about 3 years for about $3 per hour
in other words many mfg jobs are now being brought back to the USA because of advances in robot mfg technology, so in effect those low skill workers in china who displaced low skill US workers are now going to have to compete w/ robots
like it or not this world is going to change between the have and the have nots!
Automation is an important topic, too much neglected by peak oilers. I once thought that economic decline would reduce companies' ability to make capital investments in automation, but the Great Recession has clearly falsified that hypothesis. If anything automation has accelerated, “improving” labor productivity figures are regularly trumpeted by the chattering classes, but the role this plays in the jobless recovery is obvious.
after the genie bottle of knowledge is opened there is no turning back!
came to the conclusion back in my university days (late '80s and eary 90's), that global society was indeed living in an unprecedented era w/ basically unrealistic expectations.
the so-called middle class in the USA because conditioned to expect that each successive generation was going to do better (i.e. parents expected their kids to be more successful).
basically the reason for this thinking is after WW II all the war time mfg capacity was retooled for consumer products, and at the time since the US was the sole economic and military superpower which did not experience armed conflict and widespread destruction of infrastructure
IMHO the USSR was also a super power BUT only in the military sense! this is an important distinction, because from about 1945 till about the early 1970's the USA faced very little global competition in the economic arena (basically the USA was the only game in town making stuff and as such it dominated global markets)
but as other parts of the world rebuilt their infrastructure in the years after WW II and began production of consumer products, the USA lost that BIG economic advantage
now consider the effect of peak oil in the USA which happened about 1973, is it a coincidence that OPEC had such a devastating effect on the economy of the USA? i think not!!
also during this era in the USA from about 1945 till about late 1960's, the USA was the sole repository of scientific in a society w/ intact infrastructure and open consumer markets - after this time period, the USA lost that unique advantage
basically the work force/society in the USA after the early 1970's slowly lost the big advantages that were in place because of global destruction caused by WWII and also lost its advantage to dictate what happened in the global "liquid fuels" market
the fall in status of the USA as a superpower able to dictate its will, came about simply because the rest of the world was able to rebuild an start producing their own $hit and sell it on the open market
the other big trend, I noticed is the society w/in the USA began to worship at the alter of "low cost" consumerism and gave little thought to were the products were made or in general the quality of the product (hence the rise of wal mart the corp as an economic force)
this mantra of "low cost" consumerism is a religion that was exported by the USA to the rest of the world, and what is happening now to people in the global economy can be directly attributed to these basic trends
one thing I've noticed here in San Diego (aka enron by the sea), is the urban neighborhood I grew up in, is now experiencing a renaissance, where there is a revaluation of values away from "low cost" consumerism toward a "youthful" quality of life consumerism
in other words the neighborhood which once was a haven of sorts for the working class who could not afford life in the newer suburbs, is now an upscale hipster hood w/ restored older home(s) and
various farm to table pubs, restaurants, yoga studio(s) and ubiquitous young women walking their dogs in an "urban" environment
FWIW ya all might actually want to watch the actual "60 minutes" news segment
http://www.cbsnews.com/8301-18560_162-5 ... ob-growth/from an economic standpoint I'm more fortunate than most and that is basically because I had parents who lived thur the great depression and WW II
the reason I was left a legacy of various material goods (i.e. real estate), is because my parents like most of that generation of global turmoil learned to save for the proverbial rainy day
also like many in that generation they lived way below their means and saved!
there is a quote attributed to einstein, something the effect that the greatest force in nature is compound interest
basically raised by two college educated parents, who sent me to parochial school where I was taught by the penguin (i.e old school nun who wore the garb), I ended up with a degree in physics and fully appreciate the concept of "compound interest"
now that my parents are gone, I am now the custodian of various real estate assets and I am exploring ways to purchase a gentleman's farm (in true doomer spirit)
a side note: I'm somewhat hopeful that values in society as a whole are being redirected away from from "low cost" self directed consumerism toward a "youthful" shared quality of life consumerism
what is happening to the global economy was inevitable because the simple economic fact of the matter is demand can't exceed supply for too long before a new social/economic equilibrium is reached! after all the we do live on a closed system (as seeming large as the planet earth might seem)
as harsh as it may seem, the lowering of wages/pensions for many workers is a "natural" event in that the economy itself can and should be thought of as an eco system that reacts violently if out of balance