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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: SuperChief who wrote (105188)9/17/2009 3:59:58 PM
From: Gib Bogle1 Recommendation  Read Replies (1) of 110194
 
It has been apparent for many years that wage rates and standards of living around the world would tend to equilibrate. As the Chinese (for example) installed technology and production facilities of the same standard as those in Europe and the US, and as education levels in China approached (or even surpassed) those in the US, what could prevent them from competing with US workers? It was inevitable that Chinese real incomes would rise and US real incomes would fall. No politician wants to say this, because telling the truth is political suicide. This is the main reason why politicians lie - people want them to.
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