<<... be at the tender mercies of Wal-Mart, IKEA, Macy's, and the purchasing departments of Toyota, Hyundai, and Sony ?>>
... not likely, as all of the above are simply (and very simply) warehouses, telephones, computers, and folks hungry for jobs of minimal value-add.
<<... State bank susbsides, some zero cost capital ?>>
... credit is cheap, because of Greensputin, not because of state banks. If it was just the state banks, credit would be very dear, as it should.
<<dot-com business models ... they could make it up in volume....>>
... perhaps wrong analogy. More apt may be USA factories immediately after WWII, being the only factories standing.
Hard to say, difficult to tell. One of those unknowable unknowns.
Chugs, J |
