Prospects for Europe are no better:

Gao Xiqing, president of China Investment Corp., said the nation’s sovereign wealth fund has stopped buying European government debt on concerns about the region’s financial turmoil.

"CIC will continue to look for new investments in Europe as part of its strategy to boost allocations to infrastructure, private-equity assets as well as emerging markets to help boost returns", Gao said. CIC, with an estimated $440 billion in assets, is the world’s fifth-largest country fund, according to Sovereign Wealth Fund Institute.

“What is happening in Europe right now is of course of concern,” Gao said in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.”

"Europe’s turmoil is reigniting on the second anniversary of policy makers’ first attempt to prevent Greece’s woes from spreading. That raises fresh doubt over the strategy just as Greece’s election spurs concern that the country may not meet the terms of its international rescues and will seek a solution outside the euro.

The 17-nation euro area is on the verge of losing one of its members, with more than 50 percent of investors predicting an exit this year as Greece’s election impasse threatens to push the crisis to new depths, according to a Bloomberg Global Poll.

“Two or three years ago we started moving gradually from Europe and North America to Asia and Latin America,” Gao said. “We aren’t doing too much” in Europe.

Source: http://www.bloomberg.com/news/2012-05-09/china-investment-stops-buying-europe-debt-on-crisis-concern-1-.html

It's quite "funny" looking at the "banking" "financial" "crisis" and the extremization it leads to. Anyone worried would be good to know that treason by politicians leads to trials, and anyone responsible (and unfortunately many more) will be tried as a traitor. There is but 1 sentence for treason. Spain never had Nuremberg trials, which is why they are still largely dancing to the nationalist tunes, and people believe in fairytales! Shoot + the +traitors +in + the +head = justice

Really, this is very simple:

(a) Expanded communication x (b) expanded transportation x (c) technology empowerment x (d) available happy slavery = expanding world wide competition, market opportunities, and labor/environmental deregulation:

There are jobs, but for the good jobs, people are now competing world wide for them. Many people just don't open their eyes and see the new economy:

• Their skill are just not as unique as they once thought, so they really are not as in demand as they previously were. In fact, employers are finding near slaves in foreign countries that can and will happily do your job for far less.
• Your employers are perfectly happy to hire nearly anyone else to make a few percentage more profit. With the expanded communication x expanded transportation x technology empowerment x available happy slavery, now they clearly can and will happily hire near slaves instead of you, whenever possible. They just don't care. Really, they don't. We are just "meat in shoes" to them. If you still have a job, it's only because they haven't figured out how to have other near slave priced "meat in shoes" do your job instead yet.
• While most working class people in the U.S. believe labor and environmental laws are a good thing, the employers are proving they just don't really care at all. A few pennies more per dollar and they will gladly cause on the job injuries and environmental damage without flinching an eye...

Sorry, but just being honest. Welcome to the new "communication/transportation/technology/slavery" economy. The U.S., British, and Germany middle class is it's first victim. It's just evolution, greed, and a complete total lack of executive morals. Brought to you by quarterly driven profit decision making from the Harvard School of Business.

Welcome to the next 30-50 years... Then they will run out of available happy slaves again. And we will see what happens then. Robots? Aliens? Who knows. But I'll be dead by then. So this is it. We have to learn to swim in it or starve.

Very hard to outsource Nursing, auto repair, Carpentry, etc.

I really do not like your list.
I believe that people can live better because of new tech, cheaper energy, and resources. But as most of life improvement factors do not work now, it all goes to usual route. You can live better because someone live worse, general rule of competition. Global free market and global competition accompanied with constant energy deficit, and rising food prices is worse thing that ever existed.

What wrong with my list? Those are REAL jobs that will continue to demand a living wage. What's wrong with that? I'd like to know. They have nothing to do with cheap energy and new technology. I'd like to see the new technology that comforts a stricken kid in a cancer ward or fixes a clogged sewage pipe.

And why are you saying a person's life gets better at the expense of another when you just listed a bunch of things like technology and energy that can create more efficient systems? Which way are you going on this? You can't go in two directions at the same time.

What makes you think the Collapse of middle class incomes is the incorrect price? That is, what reason is there to believe that medium skill labor should be earning $100k annually, and that at $45k they're being underpaid? Why not the opposite? That at $100k they were massively overpaid and now there's been a correction that more accurately prices their labor.

Given the fact that the US has been financing it's lifestyle through debt, I'd think the latter is more likely. Just look at a company like Dewey LeBouef, which is going to dissolve because it has so much debt. That's what happened to Borders and Circuit City and Lehman and Baer Stearns.

USA has been importing nurses for 50 years and wages are still solid. Mexicans have been working construction for over a century and yet plenty of guys I know make $100/hour. I have no trouble with foreign born nurses or air conditioning mechanics as long as they can do the job. Not all Americans think immigrants are the boogeyman. Give an immigrant a living wage and you know what you get in 5 years? An American.

"It is really simple thing, energy is not getting cheaper anymore, new technologies progress became slower, most resources are in high demand but big shortage. So, we live in the competition era. And competition, both in local and global scale will be tougher with each day." Sure, but that's nothing to do with the long term viability of jobs that are essential and difficult to outsource. I don't get your point, you've merely divined the present. Yes, times are tough and look to be getting tougher. So what should a person do? Arm yourself with employable skills that are immune from outsourcing and automation.

You guys are funny, you (not V) want to tear down people who contribute to the country -- claiming they're overpaid and ruining the economy, meanwhile the bankers are reaming out your ass -- yet they're not the problem somehow, it's Nurses and Carpenters and school teachers that you blame. I think a top teacher is absolutely worth 100k/year. Who has a job more important? You local Congressman?

And as I've said, there's a long tradition of hiring immigrants to work as nurses, 40 to 50 years worth, and none of what you say happened. And many such jobs aren't competitive, that's why immigrants get them, USA nursing schools can't provide adequate supply.

Auto repair has also always been done mostly by independents once a car is out of warranty -- and let me tell you, it's not cheap! It takes more than a wrench to fix a car these days with all the computer modules.

I'm not denying things are hard, but you take a severe doom and gloom view that exaggerates vulnerabilities and doesn't match match reality -- for example your claim that immigrants are depressing wages in the medical field. The nurses I know, and many are naturalized immigrants, are doing just fine.