Politicians tell us they will bring back the jobs lost to China and Mexico. That’s a lie because most of the jobs that the United States lost no longer exist.
They have been gradually replaced by industrial robots and other high-tech innovations.
China, for example, is the world’s biggest buyer of industrial robots, replacing even their own factory workers.
Foreign auto companies have even built assembly plants in the United States, using industrial robots to make the same number of cars with 300 workers that before required 3,000 highly paid employees.
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A recent McKinsey Report estimates that 45 percent of today’s jobs will, over the next several years, be replaced by automation, industrial robots and instant anytime, anyplace communications.
This explains why America’s industrial production is up but higher-paid industrial employment still lags.
Even in financial services, people are being replaced by automation and communications. When was the last time you went to the bank for anything except its outside unmanned ATM?
Why are politicians telling us all high school grads should go to college for free when the college grads can’t find real jobs? Why not steer them into vocational careers instead, where real jobs with decent pay exist and are growing?
Based on today’s reality, free college for everyone is no better than a scam for the taxpayer and the student who wastes his precious time.