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Two questions about the "global" financial crisis?
Are there any countries benefiting from the financial crisis in the West, like maybe Iran or some other nation we have strong political disagreement with?
Also, I've heard that when the economy gets bad, certain industries see a boom, like college education and re-training schools. Do you know what the historic trend has been for this over the past few decades? Please provide percentages or a link to a graph.
Actually, I had heard that the private education industry does well during a financial downturn as many people choose to change careers or update their skills so they may become more competitive.
The movement of society from industrial/manufacturing to one that is intellectual and service based is a natural evolutionary progression. We no longer have a need for sweatshops of seamstresses and cobblers since we have replaced them all with highly efficient, automated machinery. We will eventually replace all manual labor with robotics and automated machinery, forcing millions of people to change with the times or be crushed under the wheel of progress. Foreigners are behind the West when it comes to industrial and social evolution. This is partially why we find it so profitable to exploit them as we move ever closer towards a more intellectual/services based economy.
2 Answers
- TheAsenderLv 51 decade agoFavorite Answer
The oil producing countries are certainly benefiting from the oil prices, and the rest of the countries are hurting. Over 700 billion dollars left are coffers in the last year and one half and flowed to the oil producers, that came from the working people and is what really started the mortgage crises, as people who were barely making it could not cope with the high oil prices and the rising product prices. The buying and selling of oil futures by Muslim governments under cover of holding company's with mass amounts of capital was the driving force. And the infusion of of a trillion dollars to the stock market will not put the purchasing power back in the hands of the people. You really can't call college's an industry, as we have a large enrollment of foreign students, many Muslims and Chinese who will not contribute to our economy. What can we retrain millions for, we have become a service economy?
Source(s): my view - CRFILv 61 decade ago
No ,all the World will be damaged.Public Education system will also be damaged, because there will be a huge financial deficit.
