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Brian M

I, too, have a very hard time figuring out where jobs growth could come from. All the trends are away from jobs growth, not towards it. The only growth area that I see right now is growth in high-paying financial jobs. Good work if you can get it, but limited in total numbers. I see no evidence of an opportunity for high-paying productive jobs in this country, that is jobs that actually do something useful. With some form of mild recovery (if that were possible), you might see the continuation of the trend of increasing numbers of low wage service sector jobs of the type from which most Americans run screaming. Even if those jobs were created, it seems that they would currently mostly be filled by either a) the working poor or b) immigrant labor of some type.

Trying to find any source of middle income job growth remains, to me, an act of futility. Where can it come from? Housing and construction? Not now. Not for years. Retail? Mostly low wage work, but increasingly dire anyhow (see Consumer Metrics Institute and/or Gallup). How is this giant consumer buying spree going to be financed? Housing? Not. Real wage growth? Not. One has to assume that the only logical answer is that the Fed aims to jack up the stock market so everybody feels rich and can start borrowing and spending again. Possible? Maybe, maybe not. Sustainable? Forget it. There aren't enough good credit risks to support the system. Besides, in the very near future the boomers will be trying to offload assets of all types to fund the old age existence, and that should drop the hammer on most of your major asset classes.

How about high tech? More of those jobs are being off-shored every day. How about green technology? Again, other countries are the leaders and there seems to be neither the money or political will to drive the industry at a pace that would generate meaningful numbers of jobs.

Increasingly, I am left to conclude that jobs in America will come when one or both of the following happen...1) immigrants give up on the jobs they are doing here and return to the sanity and comparative good times of their native lands, leaving those jobs for Americans who previously wouldn't touch them, or 2) the food system in the US breaks down due to peak oil, climate change, peak fresh water or name your favorite, and Americans are forced to return to the fields to grow their food in numbers not seen since the advent of the fossil fuel age.

Read it and weep indeed.

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