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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: azb111 who wrote (17705)2/23/2004 3:44:41 PM
From: patron_anejo_por_favorRead Replies (1) of 306849
 
<<The economies of scale are simply too drastic. People overseas work for 10 time LESS than Americans. Plus - We have a huge overhead to pay for - nationally, our military budgets, social security, etc. PLUS - health costs, lawyers, environmental laws. etc. are costs added to EACH labor dollar. WE CANNOT COMPETE ECONOMICALLY !!>>

This is your key point. I agree, and would add that protectionism will probably hurt as much as it would help.
I predict massive political upheaval in the US within 15 years...the jobs will leave until the US per capita wage is approximately on par with everyone else around the world, adjusted for educational level. That means MUCH lower inflation-adjusted incomes, and a MUCH lower standard of living, which will pit the working and middle (and formerly upper middle classes) increasingly against corporate interests and the ruling business elites. It will be nasty, and no one can say how it ends.
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