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

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To: GST who wrote (54504)	2/22/2006 3:22:57 PM
From: mishedlo	Read Replies (6) of 110194

Outsourcing is an outdated concept in global economy. Lower wages are not the primary threat. That is just plain silly. The outsourcing of manufacturing has largely happened but the outsourcing of services and outsourcing of design has barely started. The impact will be very severe when it picks up steam. Our real competition is the vast number of very smart, very well educated people all over the world who will leave us in their dust if we do not pick up our socks. I certainly agree with that. And possibly what you are suggesting is there will be no design to outsource if the patents are produced and created in China to start with. If so, I agree but that does not negate the fact that service jobs are hugely important to our economy and right now more so than who invents the "next ipod" IMO. I do not know who can even afford to send their kids to school here either. How long before we start sending our kids to China and India to study, not only because its cheaper but because they will get a better education as well? Mish

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