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To: Franklin M. Humphreys who wrote (1579)5/30/1998 9:36:00 PM
From: Noblesse Oblige  Read Replies (1) | Respond to of 3247
 
Noted by Franklin...

"You opine that I haven't a clue. Perhaps, but while it escapes the attention of the learned few, it is patently obvious to me that our Goldilock economy exists only because wage pressure remains under wraps as a consequence of the cheap work force in the rest of the world. The resultant growing balance of trade deficit that the Administration hails as "good" will in the not too distant future wreak havoc on world economies as SEA finds itself buying its own cheap products with all of our monopoly money they have managed to corral. When these other-world economies return to a policy of rejecting our "tough guy on the street" bullying in the international trade arena, the concessions won for MOT and others by our Dept. of Commerce will evaporate. We will be stuck with trying to buy our own relatively expensive products which the rest of the world has rejected, with money we no longer have. A wage driven inflation scenario will duke it out with a deflation scenario for the right to claim victory over our greedy souls!

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Sell everything, Franklin. At least you will sleep better.