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Marquette Wire

The student news site of Marquette University

Marquette Wire

The student news site of Marquette University

Marquette Wire

Velshi addresses Madison debate in campus speech

CNN’s Chief Business Correspondent Ali Velshi spoke Monday night on a variety of economic issues currently facing the United States, including the protests taking place in Madison.

The experienced economic analyst engaged a small audience of 50 to 60 people, mostly students, for nearly an hour-and-a-half in the Weasler Auditorium.

Velshi said the situation in Madison is an offshoot of the 2008 financial crisis working its way down to a state and local level, where public servants are feeling the heat of massive deficits all around the country. He said he could see similar situations arising in other parts of the country as well.

“I think the teachers in Wisconsin have it better than in some places across the country,” Velshi said. “But I also think all teachers should have it better than the teachers in Wisconsin.”

Velshi said Gov. Scott Walker was taking the wrong approach toward the issue, suggesting the governor pay the workers properly and treat them with respect.

Velshi also discussed in-depth what he sees as the major trend of the upcoming 50 years: the urbanization of growing countries, notably China, India and Brazil. He said as these countries become more efficient by developing their cities, they will become more rich and compete with the U.S. for resources, which will drive up prices of commodities.

“The American dream may be changing,” Velshi said. “You are the first generation where the stats are against you to do better than your parents. But they didn’t do too badly.”

In the end, Velshi said the future is still bright if Americans can become less “consumeristic,” though he said dwindling credit may decide that for us.

The two fields he said should be especially prosperous in the U.S. in upcoming years are health care and engineering. He also suggested students continue with education and earn specialized degrees, as they may be the best investment currently available.

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