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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Keith Feral who wrote (91868)3/4/2008 5:27:45 PM
From: GST  Read Replies (1) of 110194
 
<Labor is going to get cheaper> Whose labor? I said it is the end of cheap labor -- do you know anybody in America who has been working for $2 per day? That is what is over. As for our wages -- its down, down, down -- but so what? We import so much of what we buy that our lower wages will simply drive home the point with extra force -- we are broke. As for credit, you are seeing some huge distortions in credit markets right now -- and yes, it is the end of cheap credit as we have known it -- stick around.
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