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

To: viperji who wrote (3146)	3/30/2004 6:37:11 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

How can people buy cars and homes making 8 bucks an hour working at Wallmart.Our representatives need to make a stand. Make it harder for companies to offshore jobs. Represent the little guy not just the fat cats. Maybe the problem is the US is living well beyond its means. The US standard of living and resource consumption is NOT sustainable. Back in th early 1900's we stole jobs from Engand and Europe in our factories. Slave labor? Probably. Weren't there some famous books on this, people falling into vats and being processed as Armour meat or whatever. Now, when the world does it to us we complain. We have lost our competitive edge and need to get it back and protectionism is NOT the answer. Look at NZ or Australia, they have thriving economies based on value added exporting and unique products. What do we have here? NOTHING. What products does the US make here that the world wants? There is no quick answer IMO and Europe's protectionist model sure is not it either. In the short term there is PAIN, and Bush, Greenspan, and Kerry do not see it. No one want's to hear the truth. The truth is that the US is an aging power, and we will pass the economic torch to China just as Spain handed it to the UK and the UK to the US. Nothing can stop it. That does not mean the demise of the US, but it sure means a lot of short term pain that no one wants to admit. The longer that pain is put off the worse it will get. Unfortunately, we will keep trying to put off that pain, making things worse. PS. This is probably one rant of mine that Russ would agree with. Mish