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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (7508)	2/9/2004 9:59:27 PM
From: TobagoJack	Read Replies (1) \| Respond to of 110194

Hello Tom, <<Wal-Mart Accused Over Chinese Factory ... paid less than the legal minimum and worked longer hours than legally allowed>> ... the premise behind the accusation is flawed, because (a) China does not believe in the communist idea of legal minimum wage. China is naive enough to believe that folks should instead get together in a free market and by the laws of supply and demand arrive at a market clearing price for labour :0) ... and (b) In China, as elsewhere now and/or at some past era, diligent workers actually compete for overtime work, because they get overtime pay, so that they can save more, open their own shop one fine day, and hire other workers. If the two organizations believe their own reports strongly enough, they should launch legal suit against Walmart, expend the resources necessary and count on winning. Talk is cheap. They do not launch suit because talk is not only cheap, but talk can only go so far, until the rest of society is mobilized via popular media and gathered behind the belief that all should pay more for their DVD players while still not being able to compete on a truly level playing field ;0) And, if and when the rest of society is united behind a false premise, all is lost anyway, because falsehoods always lose. As to everything else you referred to, about snake and all, I attribute the impetus to global labour arbitrage, where either the work or the people will move to where the market clearing price for work is more positive, until all is equalized. When we strip ourselves of ideology and avoid faith in dogma, everything become so much clearer so much faster. Facts are distilled into truth, and faith is refined into knowledge :0) Some folks believe that giving everyone a ballot will result in better circumstances, others hold to the idea that capitalism is what makes a better world possible. I have no conclusions. Looking back in history that is full of better worlds, we ponder, as we look forward to the final reporst on current experiments and concurrent pilot runs that will hopefully resolve the issue once and for all times :0) Will ever-increasing wealth creation through real estate price inflation and ever-plentiful extraction of same wealth via refinancing do it, or will concentrated studies, diligent work, savings, investment, and family values rule the reckoning day? California vs Upstate New York, Los Angeles vs Kenedy New York, which will win? We wait to find out :0) Chugs, Jay