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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 383.12+0.8%Nov 26 4:00 PM EST
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To: Cogito Ergo Sum who wrote (83642)11/25/2011 9:25:32 AM
From: carranza2  Read Replies (1) of 218065
 
Both.

The Japanese were an enormous factor, before globalization.

Globalization resulted in a transfer of capital overseas where labor is cheaper. When capital was shipped overseas, there was no chance that traditional industrial manufacturing enterprises could re-invent themselves. Globalization facilitated and encouraged the movement of capital, which it of course did, without consideration of effects. At the end of the day, it created the present conditions.

Perot was right. There was indeed a "great sucking sound" but it was not simply jobs. Capital, too.
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