The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: James Hutton who wrote (240957)	3/15/2010 2:08:50 PM
From: GST	Read Replies (2) of 306849

The term 'labor rates' is too broad to be meaningful. We will never be competitive at the lower end of the scale -- and we should all pray that it never comes to that for us. The real global competition is not for dirt poor labor rates -- the real competition is for well educated people and highly productive people. No amount of playing with currency rates is going to turn a drug dependent dufus into a well educated, highly productive skilled worker. Devalued currencies do not create highly valued human resources -- they just discount the pay scale for people with no real bargaining power in a global market. Education, skill, innovation and entrepreneurial initiative is where the rubber hits the road. Unfortunately, this is also where there are huge tire tracks up and down our backs and across our national face. We are simply being run over in a world where everybody figured out that the road to being well-to-do is to develop high quality people, and not to have low wages. It is more than ironic that the nation that holds itself as the world's 'leader' in wealth, education and productivity is now demanding to be a low wage economy.

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