"Ed Huntress" wrote in message
...
posting stripped to RCM only

"Too_Many_Tools" wrote in message
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On Mar 27, 9:27 am, reinhardt wrote:
On Mar 24, 5:15 pm, Too_Many_Tools wrote:

The jury is out on this one....

What do you think?

TMT

Recession is a given. Can we avoid depression?

Why avoid one when that was desired goal to begin with?

Do you know how financially reasonable depression labor is?

Actually your comment does make sense.

No it doesn't.

If one wants to level the world labor market in respect to costs, one
must lower the United States labor costs to Third World levels.

No one wants to level the world market. They want the low-wage countries
to
make the goods, and the high-wage countries to buy them. That's how one
makes the most profit.

--
Ed Huntress


That's good thinking until the "high-wage" countries no longer have the
money to buy products due to no longer having high wage jobs, which went
overseas and are now done by low-wage workers. Who also aren't paid enough
money to buy the products. At that point it's uh oh, who's going to buy all
this stuff?


Hawke