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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: KyrosL who wrote (88056)10/27/2007 10:42:31 PM
From: GST  Read Replies (1) of 110194
 
The days of cheap Chinese labor are numbered. The workshops in the south where migrants workers lived in dorms are reaching their limit. It is true that there is ample labor to mobilize, but the price will no longer be what it used to be -- it will be more, and it will be in a currency that doubles in value in relation to the US dollar in the next ten years - if we are lucky. As for commodities, I would not agree that their input is small. The bottom line for the US is higher prices -- how high we will only know after the fact. For the average American the prospects are not good at all. We had a really easy ride -- cheap foreign labor, cheap foreign oil and cheap foreign credit. The wind was at our backs. Now we face headwinds and the going will be tougher and tougher. The exception to this rule is the prospects for well educated Americans with advanced skills. They will thrive in the global economy. For the rest, hard times are coming.
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