I think we need to look around ourselves. We have people in their thirties now...still owing $45k on college loans, $50k in credit card debt, and buying $35k cars with only $1k on the down-payment. These people will never live decent lives, and find themselves at age 65....mostly in debt with no savings. Their entire life depends on social security and Medicare.
You have city and county governments who have employees now easily making $120k a year, and paying $14k on their health insurance (with no contribution by the employee).
I don’t see anything great going on by 2020. We will be measured along the level of Brazil or Thailand. Our super-power status is virtually gone.
It's a great game. Hey, purchase this, ya need college, loans are fine. Btw, ya gotta pay that back while we outsource and look for lower wages. Oh, ya willing to work for less? Sure, no problem. Also, no more benefits for ya, its just the way it is in today's global workforce.
Wage arbitrage will level the playing field for everyone. Some 'people' will benefit, will others will have a lower standard of living.