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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (59422)	3/11/2004 5:44:46 PM
From: cheryl williamson	Read Replies (1) \| Respond to of 64865

Well, the dynamics of the economy were much smaller. The "outsourcing" took place, for the most part, in different parts of the country. Americans vs. Americans for jobs. Typically, wages were lower in the south and west, so jobs migrated from the north and east. Sometimes, though it was just the "next town over" where the workers were more desperate. Smoot-Hawley was used to gain leverage in foreign markets. The great fear voice now by A. Greenspan is in part because of that experience in the 30's. What is problematic now is different from then: there is only 1 superpower (US), and no rivalries among equals. The problem now is in opening new markets where those markets never before existed (like in the middle east). For those markets to grow there has to be a stable working democratic society with an educated workforce. That's why there is NAFTA & the WTO. The problem is, for those countries to grow, they need workers and jobs. Now that Capital in this country finds the cheap labor overseas, economists like Mr. Greenspan see this as a way to grow the economies and grow Capital at the same time. When questioned about the impact of this "growth" on American workers, he starts waffling. There is talk of "some interim pain", or a "need for retraining" or a need for Capital infusions for "innovation". Workers, however, get tired of waiting for that grand day to arrive while they hear nothing but that great sucking sound of jobs disappearing. American workers are a tolerant lot, but at some point they will begin to push back. It's starting already. What you wrote yesterday about Infosys is just the start. Then you will hear the wailing and moaning/groaning coming from the Republican Party & George Bush in DC about how "protectionism" will "ruin the economy" and "not create one new job" etc.etc.etc. This is the same rhetoric of the 1932 election, when Herbert Hoover got his ass kicked. Nobody listened then, nobody is going to listen now.