[QUOTE=brp987]
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Originally Posted by Perfectlap. We outsourced and consumed ourselves out of rising wages. What did you think was going to happen when China's GDP goes from under $1 trillion to over $6 trillion on American consumptio of cheap goods?[/QUOTE
At the rate that we are paid, the outsourcing only awaited China's adoption of capitalism. But then how is it that Germany has escaped our fate? Even while outsourcing some BMW production to the US.
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actually they were awaiting our adoption of unfair trade. They've been ready for capitalism for quite a while. But the barriers that were in place all those decades, that allowed for rising U.S. wages, job growth comensurate with population growth, increases in household net worth, etc. ALL came down in one fell swoop. Rather than incrementally opening up the markets to allow our workforce enough time to shift towards the German economic model you reference, one of high end manufacturing, we let Pandora out of our box in a blink. We spent 40 years fighting a coldwar against communist dictatorship only to turn around and fund, on the most massive scale ever witnessed, a more freedom-hating bunch of communists who are now buying up the world's assets on the cheap and pouring millions into advanced weapons like air craft carrier-killer missiles. Glad to see we put ourselves into trillions of debt at the end of 80's to beat the Soviets only put ourselves in the wealthy pocket of China in the 2000's with our manufacturing tossed in as icing.
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