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Work is going to be here for a very, very long time. There are aspects of it that can be automated, like some parts of manufacturing. I think the bigger proble

by yardie 7y ago

Work is going to be here for a very, very long time. There are aspects of it that can be automated, like some parts of manufacturing. I think the bigger problem we are going to encounter is a retiring workforce. And the lack of knowledge transfer in a lot of industries. I recently walked into an office with a PBX and no one knew how it worked. The servers were installed in a basement and the documentation was damp, moldy, and crawling with bugs. What should have been a simple transfer to VoIP now requires tracking down lines and real downtime.

mschuster91 7y ago
> I think the bigger problem we are going to encounter is a retiring workforce. Or a workforce that is "replaced" by young, fresh-off-university people that are desperate for a job that pays anything to survive with no benefits, while at the same time the old guards with real, proper incomes are fired as they are vastly more expensive...
- pnutjam 7y ago
  Isn't it strange that his has become such a problem, people who can't or won't retire, once pensions were destroyed?
  - mschuster91 7y ago
    This is another, separate problem - but yes, real indeed. This kind of stuff happens when government services get defunded or outright destroyed...
  - yardie 7y ago
    I was talking with our 401k company guy about this. But basically, he told me most 401Ks who were invested before 2009 are just becoming whole now. If you were planning to retire before 2009 and converted to bonds before 2008, like you were supposed to, you were okay. And if you started contributing after 2008/2009 you did well. But for a lot of folks, who contributed on the riskier side of things (basically anyone under 55) you lost 10 years. Anyone that planned to retire at 65-67 is now having to do so at 75, otherwise they will be underinvested at retirement. I anticipate you are going to see a large wave of workforce retirement because there is such a large demographic who had to delay retirements. And that bill is now coming due.

by yardie 7y ago

mschuster91 7y ago

> I think the bigger problem we are going to encounter is a retiring workforce. Or a workforce that is "replaced" by young, fresh-off-university people that are desperate for a job that pays anything to survive with no benefits, while at the same time the old guards with real, proper incomes are fired as they are vastly more expensive...

pnutjam 7y ago
Isn't it strange that his has become such a problem, people who can't or won't retire, once pensions were destroyed?
- mschuster91 7y ago
  This is another, separate problem - but yes, real indeed. This kind of stuff happens when government services get defunded or outright destroyed...
- yardie 7y ago
  I was talking with our 401k company guy about this. But basically, he told me most 401Ks who were invested before 2009 are just becoming whole now. If you were planning to retire before 2009 and converted to bonds before 2008, like you were supposed to, you were okay. And if you started contributing after 2008/2009 you did well. But for a lot of folks, who contributed on the riskier side of things (basically anyone under 55) you lost 10 years. Anyone that planned to retire at 65-67 is now having to do so at 75, otherwise they will be underinvested at retirement. I anticipate you are going to see a large wave of workforce retirement because there is such a large demographic who had to delay retirements. And that bill is now coming due.