august 1, 2013

now, the new york times reports that middle class income has gone down by 20% ($100,000 to $80,000)with both parents working I suppose. it seems a little high to me, but what do I know? i'm not about to get into an endless argument about statistics.

if this trend continues, most of the middle of the road American products are going to die out as a business unless they can drastically reduce their costs and also reduce their prices.

the rich are going to suffer big, mostly retailers and the car market.

this may be due to the fact that we are now formally in the INFORMATION AGE not the INDUSTRIAL AGE.

and many americans will buy foreign Asian cars rather than American cars because they really are better cars at around the same price.

GAP makes almost no money in China and is closing down many stores in the US. the American clothing industry despite the fact that they relie on such cheap overseas labor (near-slave labor), doesn't seem to make much money.

when I visited South Korea and went to where some of the media centers are (where some of the showbusiness people work), I did not see 1 American car.