[A. Pole]

So, I was told automation would replace workers and we’d all be unemployed because we’ll loose our factory jobs (1970-1985 or so) at the assembly plant. Now we have millions working in the IT industry and some are telling me that everyone will loose their job again.

There is a difference. 1970-1985 factory jobs did not get outsourced to China. If this had happened the "automation" you talk about would be much less profitable (very cheap labor can inhibit technical improvements) and the huge trade deficit would occur earlier.

High tech jobs when they move to China or India do not get "automated". And the bill for the trade deficit will come, believe me.

What is the new thing average Americans will do? Nanotechnological brain surgery? Flying to Mars? Financial services to the rest of the world? What is your prediction?

[ninenot]

There's an interesting series of articles on PRChina's "economy" running in The Daily Reckoning.

The author spent a couple of weeks there, looking at investment possibilities and learned that the PRChina banks are in effect making 'evergreen' loans to industry over there--no repayments are required.

Well, without the encumbrance of debt-reduction, one's cashflow is seriously ENHANCED, no?

The author is enamored of China as an investment opportunity, but puts up large "caution" flags as to what to look at. Needless to say, banks in China are not recommended.

[Nowhere Man]

What is the new thing average Americans will do? Nanotechnological brain surgery? Flying to Mars? Financial services to the rest of the world? What is your prediction?

Well, we could always apply to Starfleet Academy, become Jedi Knights or become black hole engineers. /sarcasm> B-P

Nuke NAFTA, De-CAFTA-nate CAFTA, and repeal the GATT gaffe, bump!!!!

[Sender]

What is the new thing average Americans will do? Nanotechnological brain surgery? Flying to Mars? Financial services to the rest of the world? What is your prediction?

You want fries with that? For here or to go?

[SwordofTruth]

What is the new thing average Americans will do? Nanotechnological brain surgery? Flying to Mars? Financial services to the rest of the world? What is your prediction?

Since research and development is also being outsourced, whatever the "new" thing is, probably won't be invented by an American nor produced by Americans. If this trend is not stopped then Americans will have an ever-increasing lower standard of life to look forward to.

[Red6]

"There is a difference. 1970-1985 factory jobs did not get outsourced to China. " You say

No, these jobs were going to Mexico, Europe in part, Japan, S. Korea and Taiwan. Even Ford started to have engines built in Europe for some of their US Mustangs......

"What is the new thing average Americans will do? Nanotechnological brain surgery? Flying to Mars? Financial services to the rest of the world? What is your prediction?" You say

Most products have a "life cycle". Introduction-growth-maturity and decline phase in life.

Interestingly- This has been going on for a LONG LONG time, yet despite all the "We are going down!" prophesies, new markets, industries etc have always popped up (Which you sarcastically note.

But we just recently DID have the first private spaceship.

Genetic engineering IS coming and growing.

Biotech is growing................

The F16 is dying the F35 is coming.

Red6