Thursday, February 11, 2010
The Revolution Continues
If Jesus was a carpenter today, he would seek retraining. 24.7 % unemployment in the US construction industry does not bode well for job security or creation. Construction workers do not retrain well. It is more likely they will turn to black market employment compensated by diminished costs or exagerated gains due to illegal activities. The US economy is as much a social force as a financial machine. We are being dragged kicking and screaming into the 21st century, thank you very much. America has been talking about retraining for the new global economy for 20 years. It is here, with pain. In the beginning there will be a new, smaller middle class. America has an upwardly mobile mind set that will reinvest labor and capital, as the fog lifts, reinvigorating a new middle class with the ability to lift the world economy. Folks living in mud huts in China will be a slow second class driver. But first we must clean out the vegetable drawer.