MT Archived Yellen States She Will Make Americans Pay a Penatly For Holding Cash if Economy Sours (reuters.com)
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MT Archived Yellen States She Will Make Americans Pay a Penatly For Holding Cash if Economy Sours (reuters.com)
submitted ago by brother_tempus
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[–] greycloud 1 point -1 points 0 points (+0|-1) ago
it will stay like this until china's wage force demands the same wage as our wage force for the same work. right now china's rigged economy means that a free market pushes production into china. there are 2 major solutions to this, neither of which are popular. 1) use the same currency that china uses and consolidate china and the US into one super state that follows the same labor rules and labor prices, making both countries very similar to each other economically (china wins in this deal still because population). 2) kill the free market and drastically increase taxes on imported goods, this destroys our trade relations with other countries and puts them at risk of being absorbed by china).
[–] novictim ago
"it will stay like this until china's wage force demands the same wage as our wage force for the same work. "
Well said. And that is why they are totally screwed. Reality is a bitch! They missed to right mix for the last decade. And now they are falling before they can create that necessary middle class consumer base. Unrest to follow.