patrick.net

d6rB says

Rin says

I suspect that in a short while, you may start to see the same phenomena with your crop of students. This has happened before and will probably happen again.

Possible, but did not happen in last oil price crash. Also, ones working in commodity chemical synthesis did pretty well in last downturn.

I think we're looking at one hell of a downer, courtesy of all the debt and then changes that are coming to our banking and monetary systems. If you have debt, for God's sake get rid of it or at least make sure it's pared down and you'll be in a position to service it. If it gets as bad as I'm thinking it might, we might be in a position to hold our Danville house as a rental and buy a single story in Alamo. Two story houses are awful here in summer.

The Millenials have never experienced a cyclical recession. It'll be very interesting to see which ones swim and which ones drown.

anonymous says

It's not. Welding is done by robots now.

Somebody has to set up and service the robot. There has never been a technology that got rid of the need for work.

True, new technologies tend to create more jobs than they destroy, but also require more training.