This movement of the American labor force toward Third World occupations in domestic services has dire implications both for U.S. living standards and for America’s status as a superpower.
Paging Mr. Greenspan...
...and you expect Greenspan to do what? Educate a youth whose attention span is precisely calibrated to the exact length of a music video? Maybe he should raise all the Third World wages so they are competitive with wages in the U.S.? Maybe he should implement a seres of subsidies to businesses to build factories in previously abandoned industrial areas?
It's an adult world. America will either compete or perish.