Tuesday, May 8, 2007

40 million US jobs could go within the next generation

The future's bright . . . but not for lawyers and accountants

Futuristic article about off-shoring professional jobs.

IMHO after the asset price and currency shake-out that will happen over the next decade, there will be much more equality between the developed and developing world. Such much so, that we may NOT differentiate between them by 2025

If you want to preserve your wealth then act now. Unfortunately most peoples wealth is tied up in their house and they will see that vanish over the next decade.

There may be a new golden era after 2025 but getting there will be tough.

Posted by sold 2 rent 1 @ 10:08 AM (484 views)
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12 thoughts on “40 million US jobs could go within the next generation

  • dohousescrashinthewoods says:

    “If you want to preserve your wealth then act now”

    What do you suggest? I can imagine that diversiying away from “old” economies is a good idea, but where to? India? Middle East? Brazil? China?

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  • This article goes a long way to explaining something that has puzzled me for a while: why do plumbers earn so much more than university lecturers in the UK? Plumbing is easier to train for. Plumbers have a longer working life, often starting as teenagers, whereas lecturers are usually in their mid-to-late twenties when they finish their PhDs and start teaching.

    This leads on to another question: how dumb would have to be to want to be a university lecturer rather than a plumber?

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  • how to preserve your wealth = buy gold.

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  • Skint Academic says:

    Dumb perhaps if you get into academia for the money. I would have been a lot richer than I am now had I started working in industry straight after graduating with a BSc in Computer Science back in 1997. I would have managed to get on the property ladder and I would have sold the house in 2005 when I was worried the bubble was about to pop (I’ve always assumed that there is a bubble). But I wouldn’t have been happy with my life. Instead I went on to do an MSc and then four years in industry. I didn’t buy a house then as I knew I would be going back to do a PhD. I’m now doing a post-doc in one of the most expensive parts of the country. I’m on £23K and desperately trying to pay off debts from university so that I am ready to buy a home after the house prices have slumped and stabilised. My partner and I can just about afford petrol and food for the month. I’m getting paid to do my hobby day-in day-out . But as much as I love my job and am passionate about my field, I don’t think we can afford to continue like this for too much longer in Britain. So even though I am now financially poorer because of the path I chose, my life has been richer by far. But that’s not to say that life’s not tough and getting tougher.

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  • Sure, things change, but it’s not a zero-sum game. The great thing about emerging economies is that they want to buy stuff. China and India are growing, and some jobs will go offshore, but those countries will also require services that they don’t have capacity for.

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  • “This leads on to another question: how dumb would have to be to want to be a university lecturer rather than a plumber?”

    A good point Royston. I guess the answer is that university lecturers choose the career they do because they like and enjoy researching and teaching their subject. Bit of a vocation really (and the vacations are good too). Thank god the entire population isn’t driven by rapacious greed.

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  • Retired Banker says:

    Just another publicity seeking pundit.

    In fact Globalisation has now stalled,and is in retreat in many countries; e.g. Chavez in Venezuela has nationalised the oil industry,
    severed ties with the IMF etc., and is acting as a catalyst for other South American countries do do the same.

    The rapidly advancing oil and natural gas depletion will force countries to produce more of their food and manufactured products
    locally, instead of importing from the other side of the World. This will create jobs instead of outsourcing. them.
    Additionally you just watch the speedy rise in “protectionism” in the developed countries should the standard of living of the middle
    classes be threatened.

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  • If all the top high earning white collar jobs get outsourced in the world.
    Whos going to be paying the traders to earn there salaries.

    If this outsourcing continues the UK and the US will be poorer for it regardless of occupation.
    Its not complicated, the west has borrowed and the east has lent – it will be payback day one day.
    China and India will become the new british/german/US industrialised empires of the 19th C.
    And the US/Britain will become the new singapore/shanti towns.

    Theres just one problem in the middle.
    Hello WW3.

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  • Mr Plumbase says:

    Most plumbers do not earn as much as a university lecturers! I could earn more teaching plumbing than practising it! Also ask a plumber with 25 years on the tools how his back and knees feel.I would imagine a uni lecturer would receive a decent pension to.

    Don`t beleive everything you read in the newspapers!

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  • More VI driven media crap like the CO2 scare mongering; nuclear power anybody ?

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  • The main effect of globalistation will be the lowering of incomes in real terms in the west, you will not see large scale loss of jobs because as people loose jobs and change employers they will in effect lower the ‘going rate’ for their occupation or industry sector. What will in effect happen is a global lowering of higher standards of living and we are starting to see this effect in both the UK Housing and Employment markets. Unfortunately housing is lagging behind general pay rates on the back of low interest rates, lax lending practices and rampant property speculation and we are currently seeing the final manic surge in prices before the unsustainable bubble bursts.

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  • dohousescrashinthewoods says:

    My father was an academic in the UK but saw it being strangled.
    He got fed up and left for the Middle East about 10 years ago and is now very happy (they even have final salary schemes).

    Some countries are investing in education, but not us, we just try to keep kids off the unemployment numbers whilst saddling them with debt so that they can be subserviently integrated into the economic Matrix when they leave.

    There are some beautiful places that really are interested in academia.
    Best to move with the “market” – where what you are really after (not necessarily money) is flourishing.

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