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re: Michael Burry: The white collar employment bubble is bursting right before our eyes
Posted on 9/26/22 at 8:16 am to tiggerthetooth
Posted on 9/26/22 at 8:16 am to tiggerthetooth
The "culprit" is manufacturing jobs have been shifting away from the U.S. for decades. Without making stuff white collar jobs get more and more difficult to sustain in an economy. Before you can sustain a service economy (where most white collar jobs are) there needs to be a large enough manufacturing economy. Why do you think China positions themselves to be the biggest manufacturing center in the world? They know making stuff is important.
This post was edited on 9/26/22 at 3:22 pm
1
Posted on 9/26/22 at 8:26 am to GumboPot
quote:
Why do you thing China positions themselves to be the biggest manufacturing center in the world? They know making stuff is important.
China is pretty much done as the manufacturing center of the world. Between the west decoupling over their covid lockdowns, geopolitical concerns, and the population bomb, China will cease to be the workshop of the world in the very near future.
The US is going to bring back as much as they can, a lot will go to Mexico, and maybe other Latin American countries, but it'll have to be re-located to more stable spheres of influence.
SE Asia and Asia in general is totally fooked in the coming years and a lot of their younger generations are going to be blindsided by the collapse given prosperity from the teet of globalism has been all they've known. Their normal was always abnormal.
This post was edited on 9/26/22 at 8:27 am
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