by marko » Wed 09 Aug 2006, 16:26:16
$this->bbcode_second_pass_quote('rwwff', 'A')t that point, (bbl = US$500/2006) the money job will be long gone. No reason to move closer to an empty office building. That gardening and contract work will be the things that seperate them from the migrant field workers, beggars, and short lived bandits.
This is my simple demonstration, that as long as the economy is viable, commuters on hobby farms will be able to afford the commute.
Actually, we mostly agree on this. I just don't think that the economy as it now exists will be viable for much longer.
In fact, I foresee a recession next year that spirals into depression by end of the decade. This is partly because of constraints on the oil supply, which are beginning to hurt the economy, but more because the pyramid scheme that financial wiz kids have built to prop up the economy over the past 5-6 years is beginning to unwind. The global economy is already unsustainable. It has been kept on life support by more and more credit, mostly in the form of US consumer and mortgage debt. But US consumers cannot afford to take on more debt, when prices for necessities are rising and the prices of housing have reached affordability limits. Because the debt economy has to keep expanding or crash, it will crash.
When it does, people will no longer be able to afford the commutes or the mortgages on those hobby farms.
I agree that the office buildings will be empty, maybe except for squatters who are growing vegetables on the corporate campuses.
I do think that there will still be money jobs in cities. They will not be cushy office jobs. They will be dirty hard-labor jobs, as I described in my last post. They will pay some form of money. But the pay won't be worth very much.