Tuesday, September 16, 2008

What about the jobs?

So we all know that Bank of America has taken over Merrill Lynch and that AIG is in shambles right now, almost the Fed for a credit line that is $75 billion dollars strong. What we also know is that as a result of all these acquisitions, failures and merger's alike, numerous jobs will be lost. Only a fraction of those jobs will be recovered in the near future, in the same field, while the rest of the workers will scramble around searching for anything to sustain their existence. 

Here's what I really think would happen. All that talk about jobs going overseas, well, welcome to a real world solution here. Apart from just jobs going overseas to cut back costs even further, what I foresee happening is American people going overseas, in numbers. Considering that almost 50000 jobs have been cut in NY itself, people will go the distance to secure their future. There are many countries all around the world that need experienced, college educated individuals to build up their financial institutions and teach the locals the rules of the game. I honestly feel that many, if not thousands of workers will be placed overseas, in places like Dubai, Shanghai, Delhi, Phillipines, Brazil. Countries and cities that are bustling with needs. These individuals may not get paid the same compensation they get here, but their lifestlyes in those countries will be phenomenal. Great wages, meagre expenses and great education for your kids. Plus, job security and tremendous respect for their expertise and experience. 

If the world is calling, would you answer?

3 comments:

Vance Brown said...

Wow. Very interesting point. I know personally I was seriously considering living outside of the country, but that was because I couldn't stand the direction this nation was going and I didn't want to raise my kids in such a divided country.

I think however before anyone leaves we see where the next president plans to take us. Hopefully jobs will be created in producing products relevant to todays global, more energy efficient, economy not just the pockets of a few. Because then the interests of the people will not be heard.

Mark Ames said...

I can absolutely see this happening in the near future. Especially with many college grads now having trouble finding jobs after graduation. If one were to take a job in another country, it would be a great time to do so after graduation and before starting a family and such. I would not hesitate if the opportunity was there at the right time...

Caitlin Duggan said...

I think that if you are going to start new somewhere, the best time to do it is when your young. I think there will be great opportunites overseas. Not to mention that companies will most likely offer great incentive packages to lure Americans to their companies. With the way things are looking right now on wall street many people might not even have an option, they may be unemployed and left with no other options. After college is the perfect time to try new things and places, i say why not? youve got nothing to lose!