Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Sea Otter who wrote (108468)	2/18/2010 5:41:50 PM
From: mishedlo	1 Recommendation Read Replies (2) of 116555

That is correct And protectionism is not the cure. Certainly public unions that rob majority of taxpayers for the greedy benefit of themselves is not the answer either. Wages will rise in the rest of the world while ours are destined to shrink. That will happen over the long run whether anyone wants it or not. In the meantime, public unions exacerbate the problem greatly. Private companies that attempt to buck that trend go broke, just as GM did. Our tax policies do not help either. We allow deferral of corporate taxes on profits held overseas. That encourages outsourcing. We would be far better off deferring taxes or eliminating taxes altogether on stuff manufactured (not just assembled) in the US. Mish

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