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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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To: Alex who wrote (6288)1/20/1998 3:04:00 AM
From: Terry Swift  Read Replies (1) of 116764
 
Alex:

The PBS series referenced in your link was an excellent but chilling look at what NAFTA and the global economy has wrought. Parts I and II aired here last Friday and the second part on cutting jobs and sending them to Mexico was incredible. City planners in San Diego are actually using the cheap labor in Mexico to get companies to move from the northeast and midwest to San Diego where the blue collar jobs can be placed in Mexico and the managment positions are in San Diego. Given PBS's liberal bias, I suspect Hedrick Smith's piece looked at the worst cases (Al Dunlap has long been considered a worst case jerk so nothing he does should surpriese anyone) so I expected a worse case scenario but nothing like the situation they portrayed. It was incredible. If the work force is being re-shaped into an hour-glass shaped economic culture with a shrinking middle class and some of those middle class moving up to upper middle class and wealthy while others move to lower middle class and poverty, we are in big trouble socially and culturally ten years down the road. A stable and growing middle class is crucial to the political stability of any country. The first two parts of the PBS series were an eye-opener and pretty scary. Price and Dunlap are not my idea of the best and brightest on Wall Street or in corporate America; they're a couple of sharks that look out for #1 only and take no prisoners. Parts 3 & 4 air here next Friday. I'll be watching.

Terry
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