Reply #14: Does the article talk at all about the macro implications? [View All]

[salin]

These jobs are not being replaced, and new jobs are more service oriented with the bigger bulk being low paying rather than professional jobs. Over the long haul this will mean fewer consumer dollars floating around the economy. Over the long haul this could also have an impact on those still paying off mortgage and other debts who may see such a serious decline that they will be unable to do so, leading either to selling off assets (if this happens on a large collective scale this will have an impact on the markets for these assets such as real estate) or increasing defaults on loans.

Most stories along these lines focus on the individual - exceptionally micro - aspect of the story. I have read very little in sources such as the Wall Street Journal that consider the long term implication of losing a big segment of the middle class.