This past weekend we had brunch with a few of our friends. Nowadays when you get together with friends you always end up talking about the economy, real estate and the job market. And the discussion can get emotional and heated sometimes.
We all know people who have been laid off, downsized or their company went out of business. It's sad when it's people who are good friends or family. So our brunch conversation this past weekend was not as lighthearted as it's been in the past.
One of my friends kept bringing up the point that the U.S. is not doing anything to create new jobs in the economy. He said facebook and Twitter have a lot of users but the companies are not doing anything to build a job infrastructure in the country. He said their valuation by the banks are extremely high given they are not really creating anything.
He pointed to Germany and how they have turned around their economy and they are actually building and making products. Germany's unemployment is 7% compared to the U.S. which is around 10%. China is buying German cars by the ton.
And I think my friend has a good point. Where I live I am seeing local companies, restaurants and retail shops downsize and quite a few of them going out of business. And mostly the businesses are closing down because of the impact of the internet. A recent example is the national bookstore, Borders, which declared Chapter 11 Bankruptcy and it closing down 200 stores across the U.S. Quite a few of the Borders stores in Colorado will close and then more good people will be out of work.
I am not saying anthing new that most of you don't know already. But I wonder where the U.S. is headed. Pretty soon, we'll all be sitting in our study in our house in our pajama's. We'll be facebooking with our friends all over the world, tweeting away, writing blogs and pontificating. And a lot of us will be buying our consumable products online putting more people out of work. But, how we will be making the same income we've been accustomed to in the past 30 years?
What is the solution? I don't know, but I am very nervous about our country moving forward for our children and their children.
Let's do what we can to help mainstreet Ameria!