"We have to break our backs to make ethanol, dig for Iron ore, harvest oranges concentrate and freeze, plant soy beans, make power trains, build infra for transport all that!
The US only rakes in the cash"
Yep, you got it. Amazing how the US can run those trade deficts for ever. Amazing how when the trade defict drops about 30%, the USD starts getting stronger.
Flip side, of course, is that most jobs that aren't intellectual and many that are get moved overseas instantly. Leaving unemployment, social problems, underfunded pensions, tax burdens etc.
Another side: some of that money from IP get used to by hard assets in other countries - shares of PetroBrasil, CNOOC, BHP Billiton, TOYOTA, Sony, etc. Also many shares of Nokia.
Also lots of Canadian mining shares ;-)
Guess who gets to good end of those deals -
Hint : The Vancouver Ferrari dealership is back ordered...
Other social problems - college and advanced training is almost the only way to have a good life, outside of marrying or inheriting wealth. Lots of pressure to get into a good college, take advanced placement classes, have the kind of extracuriculaer activities the college admissions likes. Also heavy emphaisis on standardized tests, cramming for those tests, special expensive training courses, etc.
Getting like Japan, except not as cute.
Okay, time for someone to mention Qualcomm and say "I told you so" |
