The New Economy
Money
With money being debt, savers are losers. Old-economy people are still trying to save money as interest rates are near zero and the Fed is printing trillions of dollars. In the new economy, debtors are winners and savers are losers.
Education
In the new economy, with technology changing so fast, students are obsolete before they leave school. Higher education is common, not unique. Just because you have a college degree doesn’t ensure a secure, high paying job. With lower wages and the cost of school loans is more of a burden than ever, the cost of a college education may be more than the return on the investment.
In the new economy, factories have moved over seas. Today, the world has too many factories. If workers want higher wages, the factories simply relocate to lower-wage countries.
The Information Age and the new economy eliminate jobs. Just as the automobile made horses obsolete, technology makes many professions obsolete.
In the new economy, having a high-paying job may make you a target for technology that can do your job for much less. In the new economy, technology rewards entrepreneurs who use that technology to produce more for less. In the new economy, technology makes many employees redundant, expensive, and less valuable.
In the new economy, the worker is responsible for their paycheck for life. And if the stock market and real estate market continues to crash, millions of retired workers may have to go back to work.
Two Economies in One
In any country, there are two economies. One economy is made up of workers operating by the rules of the old economy. These are the people hurting in the new economy. The other economy is made up with people operating by the rules of the new economy. These people are thriving in the new economy.
The interesting thing is that people operating by the rules of the old economy often live next door to those operating by the rules of the new economy. The question is: which economy are you operating in?
With money being debt, savers are losers. Old-economy people are still trying to save money as interest rates are near zero and the Fed is printing trillions of dollars. In the new economy, debtors are winners and savers are losers.
Education
In the new economy, with technology changing so fast, students are obsolete before they leave school. Higher education is common, not unique. Just because you have a college degree doesn’t ensure a secure, high paying job. With lower wages and the cost of school loans is more of a burden than ever, the cost of a college education may be more than the return on the investment.
In the new economy, factories have moved over seas. Today, the world has too many factories. If workers want higher wages, the factories simply relocate to lower-wage countries.
The Information Age and the new economy eliminate jobs. Just as the automobile made horses obsolete, technology makes many professions obsolete.
In the new economy, having a high-paying job may make you a target for technology that can do your job for much less. In the new economy, technology rewards entrepreneurs who use that technology to produce more for less. In the new economy, technology makes many employees redundant, expensive, and less valuable.
In the new economy, the worker is responsible for their paycheck for life. And if the stock market and real estate market continues to crash, millions of retired workers may have to go back to work.
Two Economies in One
In any country, there are two economies. One economy is made up of workers operating by the rules of the old economy. These are the people hurting in the new economy. The other economy is made up with people operating by the rules of the new economy. These people are thriving in the new economy.
The interesting thing is that people operating by the rules of the old economy often live next door to those operating by the rules of the new economy. The question is: which economy are you operating in?
