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: Skeeter Bug who wrote (258368)	7/3/2010 3:05:30 PM
From: arun gera	Read Replies (1) of 306849

>we need high tariffs on any country that engages in slave labor and drives down the wages of americans.> There is more slave labor in US farms,restaurants, and slaughter houses than in third world industries supplying goods and services for export to the developed world. A person working in an Indian Call center or Honda factory in China is middle class in their country with opportunity to quit the job on a day's notice to move to a competitor, a right that he or she uses all the time. The wage differentials is primarily driven by the persistent faith in United States and its currency, due to its legacy position as a world power. This allows US to keep printing more and more money (debt), that are accepted by the rest of the world. This may actually be good to the world economy as exporting countries have enough "world currency" reserves to trade with each other, building more trusting and larger trade relationships. For example, China has dollar foreign reserves, so Brazil builds huge mines to send China natural resources. Otherwise, these trade flows may not have happened, as two decades ago either country was a credit risk. -Arun

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