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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (19084)	9/21/2003 6:18:59 PM
From: sea_urchin	Respond to of 81265

Phil > The inevitability of continuing job losses, lowering of wages & standards of living can't be more plain. Without any doubt, and can only accelerate. What's worse, once the Indians etc have the US companies by the balls they will then put up their prices because, by then, the US workers would have lost their experience and American technology will all have become obsolete or else impossibly expensive to replace. The solution of exporting jobs overseas reminds me of sailors, who are adrift in the sea, drinking sea water. It is only a myth that it will relieve their thirst because the salt they are taking in will require even more fresh water to dilute it. > What is happening is a gigantic re-balancing of standards of living throughout the world. Or worse --- maybe an economic revolution. > America's dominant position is rapidly weakening, at a far greater pace than Europe because of debt and current account deficit. That certainly seems to be the case but the US is still an enormous and an enormously wealthy country, with very resourceful and fundamentally good people. Clearly, the present situation has come about because of wrong policies and wrong attitudes but the country can still regain its strength. Unfortunately, to recover will require the American people to do some very serious things like getting rid of the Bush clique and curing their administration of the "Israel affliction". Like I said, the cat has run up the tree and is apparently stuck there --- but it isn't dead yet. > I kind of see a large drop in the dollar, causing domestic inflation, even though job prospects remain poor. This spells big trouble as wealth is sucked out, and standard of living drops dramatically. Something has to happen, that's for sure, but what it will be I can't say. Like with the market, I believe one must expect the unexpected. > It will be interesting to see what rabbits Greenbackscam has left in his bag of tricks to try to avoid the inevitable Again as I see it, he'll do nothing. Since it's clear there's nothing he can do, he may as well do nothing. A Zen solution!