Remember when the elites told us it would be ok to send our manufacturing base to low wage countries? We'd all be knowledge workers in the US! Who needs those lowly manufacturing jobs anyway? Well it turns out it is even easier to outsource or if you want "insource"(using onsite contractors) these knowledge jobs to low wage workers.
The company I work for is in the end stages of eliminating 75% of its IT staff-replacing them with low wage contractors from IBM/WIPRO India. The people losing their jobs are devastated and in this economic environment their outlook is bleak, at best.
It should be noted these people have done nothing to contribute to their demise, well except get paid an American wage and have American benefits. They did everything the elites told us we had to do, get the education and training to survive-and excel-in today's high tech environment. It didn't do any good, to add insult to injury these workers get to train their replacements. Corporations that do business in this country are no longer willing to pay labor expenses, except for their own executives anyway-there seems to be plenty of money for that.
I read Paul Krugman every week I know he's a Nobel winner but jeesh he seems to be studiously ignoring this trend in American business. I'm not sure where the jobs are going to come from if there's no manufacturing and the knowledge jobs that were supposed to replace them are also being taken over by low wage workers.