Weak Pay Growth Puzzles Fed Chief, Just Like Everyone Else

[timd354]

? I did not say limit population to middle class. I used China as an example flourishing economically now in part to the one child policy of former generations. Poor nations with low resources need to look at having fewer children even more.

Yeah, the one child policy was just great....millions of forced abortions and forced sterilizations along with an estimated several million girl babies killed shortly before or after birth or abandoned and tens of millions of girls who were never registered, have no identification and who do not officially exist as far as the government is concerned (I am sure that these "nonexistant" females have just terrific lives).

Maybe the Chinese economy grew by leaps and bounds after its market system was changed from a closed, centrally planned communist market system to a capitalist market system that was opened to foreign investment...even though the Chinese Commie Party still control the politics of China, they have abandoned communism and are now running what is essentially a more or less capitalist autocracy. The one-child policy had nothing whatsoever to do with the change in the economic structure of China that has allowed its economy to take off.

The real problem with the one child policy is going hit in about 20 years when the Chinese economy goes from having 5 workers supporting every retired/elderly citizen (as is the case now) to 1.6 workers (as will be the case in about 20 years)....the severe shortage of younger workers at that time, is really going to be a major problem as there will be a severe labor shortage and a shortage of people to care and pay for the care of the elderly. The one-child policy has created a severe demographic imbalance that is going to screw China in a bad way down the road

 

[J Grant]

Mich CG ..Grant said: ↑
Bottom like is that nobody wants to talk about it, but the key is over population (relative to labor or professional skill need), and people need to limit reproduction ...and that includes the middle class and professional class who are losing economic ground along with their fellow blue collar and service workers...

If you read what I actually wrote, I did NOT say limit population growth just for middle and professional class... I meant it for everyone, I merely said the middle and professional class are also losing economic ground now as well.

There are more jobs available now then there are people to fill them. The problem is some people would rather collect "benefits" than work in a job "below" their false opinion of worth.

While there are some collecting benefits rather than work, the reality is there are not enough jobs relative to people and certainly not enough decent paying jobs. My sister was a career counselor at Palm Beach Community College for 15 yeas and worked with job placement and job fairs...typically hundreds or thousands of resumes/applicants to fill a handful of openings and many of those were modest pay jobs.

Low income people are reproducing at a much higher rate than those who have have upper or higher incomes. Unmarried women (of all races) with limited job skills are producing more children than professional women who are married. The chances of success of these child

I agree. So other than calling me a lunatic, what is your idea of a solution? Imo the govt should subsidize people not to have kids rather than have them. tearing down empty strip malls and high crime burnt out neighborhoods for homesteading with first dibs to people who adopt or foster rather than have kids,,,,call it a kooky idea, but uh, what is working about leaving these decaying areas as they are now? What are your ideas?

 

[J Grant]

Yeah, the one child policy was just great....millions of forced abortions and forced sterilizations along with an estimated several million girl babies killed shortly before or after birth or abandoned and tens of millions of girls who were never registered, have no identification and who do not officially exist as far as the government is concerned (I am sure that these "nonexistant" females have just terrific lives).

Maybe the Chinese economy grew by leaps and bounds after its market system was changed from a closed, centrally planned communist market system to a capitalist market system that was opened to foreign investment...even though the Chinese Commie Party still control the politics of China, they have abandoned communism and are now running what is essentially a more or less capitalist autocracy. The one-child policy had nothing whatsoever to do with the change in the economic structure of China that has allowed its economy to take off.

The unintended consequences of the policy are terrible and perhaps a result of their culture heavily favoring boys. Likely much of their economic success is switch to capitalist system with perhaps their own advantage of cooperative history... and some areas were so poor the nation had nowhere to go but up. Still, the one child policy resulted in overall lower population...if three times the number of Chinese had been born, do you think the generations now would be working for lower wages then they get now?

 

[Randolph Kinney]

Who are the main economic losers from low-skilled immigration?

 

[timd354]

The unintended consequences of the policy are terrible and perhaps a result of their culture heavily favoring boys. Likely much of their economic success is switch to capitalist system with perhaps their own advantage of cooperative history... and some areas were so poor the nation had nowhere to go but up. Still, the one child policy resulted in overall lower population...if three times the number of Chinese had been born, do you think the generations now would be working for lower wages then they get now?

It is hard to know since more people would also mean more mouths to feed, more people to house, etc., all of which creates more demand, more economic activity and more jobs.

BTW, another issue with the 1 child policy that is a very big problem is that there are an estimated 40-50 million more Chinese men of marrying/parenting age than women.....this probably goes a long way to explaining why human trafficking of women in China is a big problem....nothing good can come from having that many frustrated young men without partners and with little to no hope of finding a partner.....the consequences of the massive imbalances between sexes and among generations in the population of China is a huge problem

 

[timd354]

The unintended consequences of the policy are terrible and perhaps a result of their culture heavily favoring boys.

Are you sure that those terrible consequences were unintended?

 

[J Grant]

Limiting illegal immigration is part of the problem but not the only problem...most ilegals work in jobs Americans don't want in ag picking etc and the ones benefiting from their cheaper labor are the employers..watch prices of food and exports go up if every illegal worker is gone....which still leaves the bulk of the looming problem about loss of jobs due to automation, AI taking over professional skills etc.

 

[ucbruin]

The unintended consequences of the policy are terrible and perhaps a result of their culture heavily favoring boys. Likely much of their economic success is switch to capitalist system with perhaps their own advantage of cooperative history... and some areas were so poor the nation had nowhere to go but up. Still, the one child policy resulted in overall lower population...if three times the number of Chinese had been born, do you think the generations now would be working for lower wages then they get now?

All societies favor boys!!!!

The one child policy is over....
Let's see how much more their population grows....
China will eventually overtake America as the world's #1 super power...
MCGA....
They were great before us...

 

[J Grant]

It is hard to know since more people would also mean more mouths to feed, more people to house, etc., all of which creates more demand, more economic activity and more jobs.

BTW, another issue with the 1 child policy that is a very big problem is that there are an estimated 40-50 million more Chinese men of marrying/parenting age than women.....this probably goes a long way to explaining why human trafficking of women in China is a big problem....nothing good can come from having that many frustrated young men without partners and with little to no hope of finding a partner.....the consequences of the massive imbalances between sexes and among generations in the population of China is a huge problem

I agree, but they have their social problems and we have ours. The USA has the highest incarceration rate in the world ( 4 x that of the other developed nations.)high mental illness and addiction rate, high homicide rate etc. When we have school shootings a regular occurrence and hordes of homeless/alcoholics ( a number of whom are vets ) living on the streets and prisons acting as defacto mental hospitals, its hard for us to lecture other nations about their problems or hold ourselves up as an example.

 

[J Grant]

All societies favor boys!!!!

The one child policy is over....
Let's see how much more their population grows....
China will eventually overtake America as the world's #1 super power...
MCGA....
They were great before us...

We will lose ground and imo not be #1 maybe that's okay. The problem with Make America great Again is the "again" looks to the past...but in that past golden era, America was very forward thinking, space program, computers, plastics...whatever was high tech and leading energy at the time. Trump is trying to revive dying tech and industries while other nations such as China invest in future technology and energy solutions ( and are forming trade alliances while we isolate)

W'eve borrowed heavily from China to pay for the Iraq war which was a lie and farce and drained trillions of our resources for nothing.the start of the balance shift to China started there.