Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (3138)	3/30/2004 6:18:16 PM
From: viperji	Read Replies (1) of 116555

About 14 years ago Ross Perot coined the phrase "giant sucking sound". a euphemism for all the manufacturing jobs being offshored. Those were jobs never that came back.Now the services sector is being offshored. The sucking sound continues. I know this is great for big business cus the fat cats get their big bonuses and the stock price goes up in the short term but what is the cost to America? A lower tax base to pay off our social programs.Unsustainable higher debt levels. Lower standard of living for the middle class.Even when they do create jobs they aren't quality jobs that pay good wages. How can people buy cars and homes making 8 bucks an hour working at Wallmart.Our representatives need to make a stand. Make it harder for companies to offshore jobs. Represent the little guy not just the fat cats.

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