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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (74738)12/2/2006 9:51:38 PM
From: Yulya  Read Replies (3) of 110194
 
In the form of a question on the SAT test for high school graduates trying to get into college so they can go to business school and become productive members of society as hedge funds managers and derivatives quants,: "How much do prices of cheap Chinese made stuff at Wal*mart have to drop so the factory worker in the USA who used to have a high paid manufacturing job making the stuff, and retrained for a job in information technology which he didn't get because it is now being done in India, for him and the rest of us to be better off because of free trade?
(If required, assume in your calculation that the factory he used to work in is now an abandoned contaminated super-fund site, that all the machinery in it was sold to China for its ten cent per pound scrap value, and that four workers in other jobs like food serive etc. lost their jobs for each manufacturing job eliminated when the factory closed.)
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