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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (9660)8/9/2000 12:29:23 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
<<More likely what productivity really means is 3rd world prices on goods that the 'haves' buy while the 'havenots' compete with cheap foreign labor. The high dollar is the key to the whole pyramid.>>

DAK, you are right on here. The productivity "miracle" has very little to do with technology. We gained productivity the old fashioned way, by exporting our labor costs to 3rd world countries while forcing the domestic work force to compete for salary with overseas workers. Consider that inflation in industries where labor cannot be physically transferred to overseas sites (health care comes to mind), labor costs and inflation generally are soaring. In industries where labor is easily transferred overseas (i.e., semiconductor manufacturing), prices are dropping. When the foreign baghold...ERRR, INVESTORS finally tire of sending us their fine finished goods in exchange for ClownBux, the party is over for good. And this will be one hangover I don't want any part of....
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