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

To: anachronist who wrote (52977)	2/7/2006 4:24:52 PM
From: GST	Read Replies (2) \| Respond to of 110194

My views reflect the direction in which we are going. Of course there are skilled Americans. But the presumption that people outside the US cannot do better economically than we can especially in the mid to longer term is silly in the extreme -- that is what I am challenging. We CAN compete -- but we cannot assume it is the pre-destined order of the universe that our incomes will always exceed those of others -- far from it. There are smart, talented, motivated, hard working people all over the world -- its a fact. If we cannot be as good or better, then we will earn less. And that is starting to look like it will come to pass because we are so busy ruining our own prospects for future wealth and prosperity.

To: anachronist who wrote (52977)	2/7/2006 8:04:45 PM
From: regli	Respond to of 110194

"I agree overall with you global labor arbitrage theory, but I disagree with your assertion that Americans lack technical expertise." From my perspective, it is easiest to watch the trend in R&D. The people doing R&D are the most advanced in their field. You can look at IBM, Microsoft, Intel and AMD. All of them are opening R&D centers overseas especially in India and China. The people leading these teams will have the best skills in the field and in turn will be the leaders of these industries in these countries in the not so distant future. Once you lose the technical leadership, it is very difficult to regain. It is not an issue that Americans lack expertise today but it will an issue in the medium to long term. Also, a few years ago, when I went on my introductory visit for parents of freshmen at UC Berkeley, I was amazed to find that less than half of the parents were U.S. born and approx. 70% of the parents were of Asian descent. With ever greater opportunities, I wouldn't be surprised to find a significant number of these students in positions of responsibility in their parents country of origin.