Posted on 12/15/2006 7:26:05 AM PST by conservativecorner
"...the benefits of the second win have accrued primarily to the owners of capital at the expense of the providers of labor."
Bingo
And don't let me forget the companies themselves that have made money like the FED was printing it like crazy. [9% - 10% money growth as measured by M3]
Funny, my father, a big time Liberal, reads book and articles that tell him the opposite, that Globalism only benefits already developed countries...
Lots to chew on here.
Not content to make money hand over fist with the Yen carry trade, derivatives and hedge fund profits, our financial barons threw credit at Americans like no other time in our history. Putting people in homes they couldn't afford knowing full well that the mortgage would fail or default in the future. Ditto for credit cards and credit offers.
We have several asset bubbles deflating at the same time, so this next year should be rather interesting and deflationary.
Hey look! Steven Roach is through celebrating the election results!
" Maybe if you stopped trying to blame others for your lack of success your luck would change."
Things are going extremely well for me also, but I have a conscience and believe that my neighbor also should do extremely well.
I do not believe in creating beggers because my bottom line states his bottom line is of no importance.
Wait a minute. Are you saying you're making a profit off of globalization? Traitor.
You are prostrating yourself at the Altar of Greed. Hand over your money. The government knows better what to do with it . . . as is argued quite often on these threads.
Anybody believes that, stand on your head.
And this clearly illustrates why so many opponents of globalization have no clue how complex these economic/technological trends can be, and how impossible it is to "manage" them in any way.
The tech sector in the U.S. enjoyed a period of robust growth when it was being used as a key tool in creating the kind of global networks that we now take for granted. But it makes no sense for us to complain that we are now "losing" because this technology has made it easier for foreigners to compete with us -- any more than we would expect a government to spend billions of dollars on a new highway only to complain when lots of cars started driving on it.
I'm sure that's because you've used free credit card advance checks that overflow your mailbox to fund a gold margin-trading empire that always buys at--not just near, but at--the bottom and sells at--not just near, but at--the top.
Piece of cake, eh?
Well, seeing how everything you represent is upside down, it may mark the first (and probably only) time you will ever get to see any of us eye-to-eye.
I'm pleased to know you have a conscience. However, my common sense tells me that my neighbor is responsible for his success in life and that personal responsibility/accountability is a conservative principle.
The bottom line that you disparage is the reason for innovation, job creation and rising incomes. If your neighbor's bottom line isn't what he wants it to be then no amount sympathy from you is going to change him. Good intentions are nice but they don't produce much. Like most of the whiners here at FR your neighbor will have two choices. He either accepts responsibility for his place in life and resolves to make the necessary changes to become successful, or he blames it on someone else and demands, like Roach, that someone (government) do something about it.
Whenever the profit motive is missing, the probability that people's wants can be safely ignored is the greatest. Remove or deemphasize the incentive to make a profit and the only thing we'll be creating in this country will be massive numbers of beggars.
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