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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (60)	2/16/2004 4:27:49 PM
From: gregor_us	Respond to of 116555

The Great Wheel of Labor Flows: East vs. West. When I read the article on booming Scotland Real Estate--and don't get me wrong Edinburgh is utterly beautiful and Glasgow though less "pretty" is fun--I cannot help but recall the post WW2 malaise that was experienced by most of Western Europe. That malaise was reversed I think by the 15+ years of Eastern European and Asian labor flows that moved from East to West--and actually helped fill up these wasting cities of the northern UK--after the Berlin Wall Fell, after Thatcher rationalized markets with the Big Bang, and inward Immigration actually brightened the economies all around the continent and in the UK. But the soaring housing boom comes at a time when the Labor flows from East to West may now be changing once again--from West--to Southeast Asia. Whereas the period that was ushered in after the Berlin Wall, and Liberation of markets in Europe and the UK, attracted physical movement of labor westward--now the UK and Europe too will experience the mercurial liquidity of broadband outsourcing. Wow. Such huge numbers came to the West orginally, to "become free." But the freedom to work these day no longer has a particular, physical location... Townhouse owners in Edinburgh should sell!