[alexhu11]

The elephant in the room I don't hear people discussing is the impending spectre of deflation. If the labor supply diminishes what happens to aggregate demand? Judging from the example of Japan, demands implodes as fewer people buy goods and services because they aren't working! This deflates the currency and pushes the economy in recession.

Most of the developed world is sloughing off huge portions of its working populations. For example, Italy is set to halve its workforce in the next decade. There are huge economic, social, and political ramifications.

[hwstar]

You are correct. It is going to suck living in a developed country unless you have enough money to be financially independent. Deflation is a very likely outcome as the standard of living in the first world countries will decrease, and we will be meeting the third world countries in the middle.

[InclinedPlane]

All the more hilarious in the context of the "immigrants are stealing our jobs" narrative that has always been popular.

[function_seven]

Well, yeah. If jobs are cut in half, and the immigrants steal the other half, then were are you?

(I'm not seriously making this statement, but "they" are)