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

To: GST who wrote (65370)	7/6/2006 12:24:47 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

There is no free lunch, but nor is there any foundation to the notion that we are necessarily worse off in a global economy -- quite the contrary. For once we agree. In fact if the US would just unilaterally end all tariffs and protectionisms regardless of whether the rest of the world followed suit or not it would be a good thing over the long run. Wallmart itself is a good thing and as far as I am concerned it would be a good thing if Walmart got into banking. ATM and other fees would probably drop like a rock. I have long argued against protectionism as well as military interventionism. Both are costing us plenty right now. That said, with the debt levels people have, falling wages would not be a good thing for the masses. Unfortunately wages are going to keep falling no matter what protectionist controls we try to put in place to stop it. Thus we may as well get the positive benefits of free trade and globalization but I see yet another round of trade talks going up in smoke with not a single country ready to do anything unless everyone else does too. Mish