And, of course, most of our tech jobs are being outsourced. And most of the high tech tools we use are being imported and then being used to replace American laborers.
I'm not sure there is a viable solution, but the fact of matter is that this so called "free trade" is eventually going to strangle all of us. Our service economy is eventually going to be oversaturated with too many services and not enough stuff needing service. At that point our economy will collapse like a house of cards. And if we go, we probably will take the rest of the world with us.
There is a national security issue that deeply concerns me, and that is the necessity for any nation to be self-sufficient in producing it’s own heavy industry, aviation, and ship-building.
Those businesses MUST be kept viable, and whatever it takes to do so is NOT an issue for a free market to determine, in my opinion.
The service industry’s biggest danger, imho, is low wages. You can’t pay a guy Yugo wages and expect Escalade purchases to increase....and Escalades don’t cost much more than do Explorers.
Our auto industry has priced itself out of the market and THAT really is a matter of union wages being abused in those industries. I’m sure I read recently that the union auto worker has a total package over 100 bucks an hour.
If it were me, I’d be extremely happy to take a cut and still have a $75 total package job than no job at all.