"Tata Motors' emergence as front-runner to buy Jaguar and land Rover from the ailing Fod brings one question uppermost to a commentator sitting at a wealthy Western desk: Precisely which economic sectors can be relied upon in the future to provide jobs for Westerners at wages higher than are obtainable in the Third World" ... Since the majority of location-dependent jobs in Western countries are low-skill it therefore follows that if governments wish to protect local living standards, they need to discourage low-skill immigration. Except in Japan, they have not been doing so; both in the EU and the United States low-skill immigration, frequently illegal immigration, has gotten completely out of control and is immiserating the working class. ... From the summary above, it is pretty clear that income levels in the West are converging with those in the more competently run emerging markets. The bad news is that in the years ahead this is likely to happen through an absolute decline in Western living standards. ... By 2030, it is possible that the median real income in the United States and Western Europe may be no more than 50-60% of its level today", Martin Hutchinson (MH) at http://www.prudentbear.com/, 7 January 2008.
I think the average American male's earnings have fallen 35% since 1973, putting me at odds with official US statistics.
I have been saying things like MH for about 25 years. MH's position has significant implications for our educational establishment, i.e., we don't need most of it. Bertolt Brecht wrote "The Solution". It says in part, "Would it not be easier In that case for the government To dissolve the people And elect another?" It seems that's what Uncle Sam is doing.