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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (12595)	2/5/2003 1:23:52 PM
From: Raymond Duray	Respond to of 89467

Hi George, Thanks for the head's up on Bill Gross's commentary. pimco.com It had slipped under the covers for me. Generally, I regard Gross's column as one of the best pieces of work to emanate from the "investment" community. Morgan Stanley's Steven Roach is another commentator who, like Gross, seems more interested in a truthful examination of reality than in promotions and swindles. There's nothing I can add to Gross's interpretation on a strictly "market" basis. I'd have prefered if he would have gotten a little preachy, as I am these days about the basic immorality of the Evil Empire schemes being hatched by the Bushistas. But that may be pushing the envelope too far for a fellow whose business isn't based on morality. The chart on our current trade deficit ought to be alarming to any American who understands the implications. We may have passed the point of no return, with tax-advantaged profits from formerly U.S. domiciled corporations being routed through palm-lined boulevards of post offfic boxes and into Foreign Direct Investment in mainland China. Any clear-headed thinker can see that the ex-pat U.S. corporations are the greatest threat to American prosperity in the future. Companies like Ingersoll-Rand, for example, with a Bermuda brass plate on their HQ, with manufacturing scattered across the globe, a vendetta against American labor and 200 current contracts with the Federal Government ought to be raise howls of alarm from the American Right over the erosion of sovereignity for the sake of a pack of scoundrels. Except for the fact that the public remains largely cluesless as to how their best interests are being eroded by corporate America. *************** I'm currently reading "Pigs at the Trough: How Corporate Greed and Political Corruption Are Undermining America" by Arianna Huffington. amazon.com I highly recommend it to anyone who has a passion for witty writing, incisive insights and trenchant truths. She's skewering the best of them. Including Ingersoll-Rand. A Department of Death contractor who takes the profits from war and ploughs them into foreign investments. God Help America. -Ray