You always say how one of the core principles of capitalism is to maximize profits. We're now seeing massive layoffs in the tech sector - while at the same time these companies are enjoying record profits. Oracle is a good example.
I read the Silicon Valley news and all the "woe is me" from those who have been laid off. Give me a break. The people who now complain are the very types who thought laid off autoworkers in Detroit should learn how to write code. I have ZERO sympathy for the job losses I see going on in high tech. In fact, I think it's fair comeuppance.
As I said, I'm a capitalist, but I think capitalism needs guardrails. Offshoring our factory jobs was a betrayal to our society. So is the H1B program.
Let me add, both Sue and I are well educated and enjoyed lucrative careers. That said, Sue retired from nursing when our first child was born and remained retired until both our children were out on their own. Both our sons are successful and I don't attribute that to our DNA or school system. Instead I attribute that to Sue being an at home mother.
We paid a significant price for our 25 year long single income family choice. We may have lived in Los Gatos but there were times we lived on rice and beans and were literally out of money for a day or two before I got paid.
As far as your comment about the "horse leaving the barn a longtime ago". That is true, but I also believe this country is on the wrong track and dual incomes, our school system, the internet, our disappearing middle class, our radicalized two party political system, Wall Street greed, chronic budget deficits with no accountability, money printing, etc., are all part of it. Something needs to be done about it. IMO, if changes don't happen - and soon - you and I are going to witness the failure of this nation.
What makes you think the money you have stashed away in your Schwab or Fidelity accounts will even be there when you need it?
Scott
Scott, let me address your points, which are important because they touch on today's realities.
Yes, the profit motive is the primary driving Capitalism force. By definition. But pure Capitalism will lead to monopolies, etc. So governments need to manage economies and provide for society's needs that Capitalism is not appropriate for.
I imagine most people are affected negatively by job loss; it's part of life. I genuinely feel for those. One of the reasons I bought a Tesla was the reopening of the shuttered GM/NUMMI plant. I salute Musk for his American investment. I also counsel others in the need to save for a rainy day, which is sure to come one way or another.
Your point about Capitalism guardrails is critical. America is a mixed market economy with strong elements of Socialsim. Military, public education, Police Force, etc are examples. H1B visas would not be necessary if we had the talent here. Education is key and is sorely lacking.
I salute you and your lady's choice; it is more and more rare. However, I am no one to judge other's choices.
Are we as a country on the wrong track? If so, what do we do about it? Hence my question in the earlier post. I have my own ideas. As a side note, we are entering the AI age, which promises to be a huge inflection point. We ain't seen nothing yet.
As far as the money I have in my investments, I cannot predict the future. In the mean time, one of the great joys in life is the ability to work with others. Right or wrong, real change often involves money. Being able to help (work with) people who have faced disaster, get into a property, get a vehicle for work, etc, help pay for education costs and sometimes just food paves the way to happiness. That's my experience. Having struggled so long due to my own choices give me perspective. I know who I am and never wanna live that way again.
America, and the world, are not going back. Change is the only constant. You and I both know Silicon Valley is a brutal, heartless entity that chews up people and spits out money. Having said I that, most of the country benefits from the tax revenue generated here. Not to mention the tech
and opportunity here.
I hope this clarifies my point of view. All good Scott!
