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To: Jing Qian who wrote (13766)	8/8/1999 5:46:00 PM
From: ahhaha	Read Replies (2) \| Respond to of 29970

Your article claimed a ubiquity in money value as brought by instant worldwide liquidity. That means that in India the effective cost of living is the same as it is here or it is getting there. It also means that in rupee an Indian engineer is going to expect to be paid commensurately to what the engineer could expect to be paid here if they worked for AMZN. If not, the Indian engineer would come here, and that is exactly what we've seen for many years. Now the Indian economy is asymptotically approaching the American economy in costs and benefits. There is no way that Indian engineers who never went to the US, but who have heard the compensation their compatriots got when they worked in the US, are going to settle for less. You will find that Indian engineers are getting very close to what they get here and because of this, they are staying there. Why then should US companies outsource to Indian software firms, for example? Because the quality is still higher and the willingness to work is also. It won't take long until that reality is effectively priced into compensation and the tangible result will be a slowing of outsourcing. This specific example can be easily extended to all forms of labor, skilled or otherwise. The evidence will be seen in the deterioration of the dollar regardless of all other factors impacting it. The dollar is the measure which will represent the intrinsic forces causing the DOW to persist downward. Formally, it is rising unrecoverable costs. The gas slowly escapes out of the balloon. When you see the American unions going international, then you know the world has big problems. Foreign workers will invite Hoffa to represent them. Governments can't do squat about that. The only way to stop the monopoly labor will to inflate is through the invention of hard times. The central banks do this creative handiwork, but they have to be dragged kicking and screaming to it by the reality that if they don't, the entire financial structure world wide is threatened. The amazing thing is that in the final analysis they can't do it, so they quit interest rate manipulations and let the free market do the dirty work. None of this would ever occur if the central banks didn't accommodate the will to inflate by their need to extend prosperity. That extension is driven by the pretense to knowledge, the belief that there exists enough information to direct the world to perpetual prosperity. You can see here that the universities can't represent that they don't have and can't have such knowledge. That means the entire intellectual enterprise of how to direct and control modern economy is specious. It means that the greatest good for the greatest number can only be gotten by trusting the perceived greed and evil that comes from letting the free market control. The power and prestige of intellect as conveyed through the modern church, universities, would be undermined. There is no way that that is going to be allowed to go down. Isn't that what they taught you about the church of the Middle Ages? Oh, the analogy isn't valid. It never is until you see it.