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Politics : View from the Center and Left

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To: Lane3 who wrote (5809)	11/27/2005 3:09:02 AM
From: Dale Baker	Read Replies (1) of 542148

The theory always said that workers who lost jobs to overseas competition would find new, better jobs and thus strengthen our economy thanks to flexibility. Problem is, the low interest rates and easy credit pulled economic activity into unsustainable bubbles like swapping real estate and all the associated trades. They don't create long-term sustainable employment. Looks like we have to undo that bubble, go through the pain of the next recession and figure out what the next big trend will be. Personally, I have no idea. My whole focus is building a personal asset base that can cope with whatever external shocks are on the horizon.

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