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To: Milan Shah who wrote (15491)	3/3/2001 5:04:44 PM
From: JSwanson	Read Replies (1) \| Respond to of 19079

Even when the marginalized pieces go offshore, US companies often have huge ownership interests in those pieces. What could be better than this - why do I care if the shirt on my back comes from the Phillipines if the company that made it is owned by me?!! Yup, it will show up as a trade deficit, but the profits and a large part of the assets used to produce that shirt, are owned by US interests. This ownership interest is not reflected in any of the popular statistics. Realize that Ford owns a huge chunk of Mazda and practically half the European car makers, and GM has a big stake in Toyota and owns the other half of the European car makers - how is this factored into the trade imbalances? As I was reading westpacific's post that is exactly what came to my mind. I think that's a very important point people fail to realize when looking at America's shift from manufacturing in the US to lower cost locations. As long as we own the assets it is not a bad thing. JS

To: Milan Shah who wrote (15491)	3/3/2001 6:45:04 PM
From: MeDroogies	Respond to of 19079

Hurrah, Milan!!! Excellent post. The US is in fine fettle, to be sure. The only thing we should be concerned about are 2 things: keeping the Government's hands out of our pockets, and making sure the middle class isn't overly antagonized out of existence. For a great review of the decline of an empire, please read the beginning of "How The Irish Saved Civilization". It is a concise and well documented review of the fall of Rome. Basically, it hinged on one thing: the fact that the middle class was taxed out of existence. Sure, there were many other factors, but this single factor created imbalances that would, ordinarily, have been overcome.

To: Milan Shah who wrote (15491)	3/3/2001 7:28:17 PM
From: TobagoJack	Read Replies (3) \| Respond to of 19079

<<I assure you, sir, that there is no other place like the US to thrive economically.>> Except Hong Kong, ranked by your Heritage Foundation as #1, 6 places ahead of US, based on superior legal system, open labour policy, free moving capital, hands-off government and low taxes. <<I know that I will not have to worry about food, water, shelter, and energy; that I have access to the best healthcare and educational facilities in the world; that political and social unrest seem like a quaint historic relic, and that I will spend atleast part of my day learning about a new technology>> I agree with most of you say here ... Agree on food, water, and education. Maybe on shelter if not leveraged. Maybe not on energy. Definitely no on healthcare. We have it free here, or cheap and personalized across the border (GE MRI scan cost US$ 95/session), or expensive by John Hopkin educated private physicians. In-home nursing help can be obtained for the price of two visits to the supermarket (hired out of the Philippines). Political and social unrest is historically desirable, however distasteful to the folks directly and immediately affected. Try it some times. Energizing and full of opportunities. On the rest, <<2. Realize that Ford owns a huge chunk of Mazda and practically half the European car makers, and GM has a big stake in Toyota and owns the other half of the European car makers - how is this factored into the trade imbalances?>> The problem is that the resulting employment, and multiplier effect belong to somebodyelse, along with most of the revenue, with profit questionable. Like starring in a movie on "profit share basis" - not good economics. <<the US has almost a built-in ability to always switch to the high-value piece of the world economy, transferring the marginalized pieces to less fortunate countries>> The retreat up the value chain is a dangerous strategy when over used and carried too far; because all technologies mature, become commodities, and the gaps narrow, with folks elsewhere catching up. This in itself is not bad for the world, but bad for the , marginalized folks within the lead country, especially as the marginalization expands. <<Japan essentially stole the technology/innovation leadership from the US>> I think the Japanese worked pretty diligently for it, and stealing is a strong concept. Leadership positions always gets rotated. <<Therein lies my confidence that the US will always be home to the highest value pieces of the world economy.>> The Romans said as much. <<I have yet to see a place where the economic conditions are so vibrant, the people's spirit so free.>> Try Hong Kong. You have rights. We have freedom. You make lots with much. We make much with nothing. Chugs, Jay

To: Milan Shah who wrote (15491)	3/3/2001 10:46:10 PM
From: Bipin Prasad	Respond to of 19079

Milan, I assure you, sir, that there is no other place like the US to thrive economically. I find myself repeating the same mantra to some Phony Intellectuals in America. However, mild inferiority is healthier than completely content Roman pigs. US is the most efficient, honest, hard working, compassionate country in the world. Proud to be a Korean American and the best place to raise kids! Some theory or ideas from thin air sounds wonderful and noble, but it ain't reality. Some need to see reality in Korea or India than through books or travel channels to understand what we're talking about. later, InSook Prasad

To: Milan Shah who wrote (15491)	3/4/2001 11:53:42 AM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 19079

food, water, shelter, and energy; that I have access to the best healthcare and educational facilities in the world EXUSE ME, but how much more selfish of a statement could there ever be? You have been fed typical American propoganda and you eat it up because you sound like you are an immigrant living in suburbia with not a care in the world because, "you're safe." Do you know how many people in this country do not have access to that "superior" health-care system? How many people more are going to be without health-insurance when the recession hits in full force? Many of these "people" include children, have you no sympathy or shame? How many people have access to these "best" educational facilities, when many of them are completely out of the cost range of many of America's potentially brightest? Have you ever been to an inner-city school, which happens to be most schools in New York City, quite a few in Los Angeles, and a few less in Chicago? Your statement is the epitomy of self-centered commentary towards what this country has become.