I got en email from an old friend recently.
He was decrying Hillary Clinton for espousing trickle up (you may have heard it here for the first time) economic policies.
He was equally negative about the more classic idea of trickle down.
The whole thing caused the following outburst from me.
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Which way the trickle matters not.
The CURRENT stage of the problem is that millions of low skill jobs have disappeared to computers. Those jobs are not coming back and the people that once had them mostly don’t have any job and are not buying things and contributing to economic growth.
The WE ARE IN THE SHIT stage of the problem is that millions more of medium skill jobs are disappearing every day. More no pay, no buy, no grow.
The IMMINENT stage of the problem is that millions of mid to semi-high skill jobs will disappear in the next few years: basic accounting, basic legal, basic radiology, various transportation functions to name a few. More no pay, no buy, no grow.
The jobs that will be left, and there will be many, all will require a degree of intelligence and a level and type of education that has passed most of the unemployed and imminently unemployed by.
So except for a few rappers, basketball players and assorted published bullshit artists there aren’t many replacement sources of income for the legion of unemployed.
And it won’t be long before no one will be able to buy tickets or CDs or published bullshit.
Selling dope won’t even last because nobody will have any money to buy it.
No wonder rich people live in gated communities with houses full of guns.
The problem they face is that ultimately their wealth comes from the spending done by all those people who no longer have jobs and have no money to spend.
Even the wealthy will begin to feel the pinch.
And all of the wealthy’s food and services comes from those now unemployed people who used to provide it, but don’t do that anymore.
I think I see end game.
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