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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (105180)9/17/2009 3:39:38 PM
From: SuperChief  Read Replies (3) of 110194
 
And in time the global economy will come under fire -- as if the educated person in China or India is responsible for the poverty and crime and decay of America

This strikes me as pure CRAP! My reason: China IS responsible for - No Jobs = Poverty = No Tax Base = Crime and Decay. Looks like no matter how hard you work it's not hard enough UNLESS one is willing to take a BIG pay cut. So big a cut you couldn't afford gas to drive to work. Now the ____ (insert curse word of choice) Chinese are dumping their tires and who knows what else on us BELOW COST.

Below cut from the Washington Post.

In meetings, managers urged employees to run production lines faster and more efficiently to help the company keep up. Overseas laborers were toiling for as little as 20 cents an hour, they were told, and working harder.

Even more ominously, while browsing the aisles of Kmart and Wal-Mart, Cooper employees could see that, sure enough, the Chinese tires were cheapest.

"They would have these meetings and say we're up against the Chinese," said Larry Burkes, 29, who worked at the plant, which rises on the city's outskirts just beyond a mobile-home park. "We'd hear it all the time: 'They work for less.' There was pressure."

Now the plant that employed 2,100 people in this small south Georgia city is being shut down, and the troubles afflicting the U.S. tire industry are at the core of what many consider to be one of President Obama's first major decisions on trade policy.
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