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Wall Street has started hiring again and that could be a leading indicator of job recovery in the US.But what exactly would the Wall Street employees do? They'd be managing the money side for the global operations of larger companies. And would the global companies care about where the work (manufacturing or services) was done? No because they'd go where ever the work can be done cheaper. Large multinationals would continue to open production subsidiaries in low cost countries moving beyond contractual outsourcing. This leaves pretty few options for the mid-skill, mid level American.
If you think about it every American's ancestor was an immigrant (save the Native Indian American). Early immigrants did not have Skype and almost free phone calling to keep in touch with relatives and friends in the mother country. So most early Americans have little connection with family in the mother country. In fact, the second generation of probably all ethnic groups in America have very little connection or patience with the old world.
The reason American immigrants arrived here in the first place was to get away from the old country and its "old" ways but guess what – shutting out the old world is no longer an option !
Because the old world particularly the old developing world seems to be growing much faster and middle America needs to find career solutions like Brendan the iPhone doctor.Or actually reach out to world markets that are growing.