The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: gregor_us who wrote (5920)	1/23/2004 2:11:56 PM
From: MulhollandDrive	of 110194

while i'm not certain i agree with all points in the article, the point that i bolded speaks to what i perceive as a potential structural change in the u.s. (and european) employment picture... downward wage pressure as globalization creates excess capacity of workers as countries depend too heavily on exportation for growth this could be especially painful as too many jobs are created (as we saw in the technology bubble) in china during the early phases of credit induced expansion. right now the u.s. economy is still considered the "consumer of last resort" and china appears to be developing into the "producer of last resort", so what happens if (when) the u.s. consumer pulls in it's horns on the demand side..... i think that is the question the author is positing "when 2 bubbles collide"

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