Lee may have said
"this country are reaping record profits while most of us are seeing our
earnings stagnate or decline"
Just look at the fall of most unions effectiveness and this is one indicator
that you are indeed right. We are becoming a two class system. I give it
40 maybe 75 years. It will I believe be much like South America. With the
influx of people, many who do not care much for the traditions that built
this country (like learning , wanting to learn and having to learn our
language for starters)./Tom Scordato
----- Original Message -----
From: "lee" <[EMAIL PROTECTED]>
To: "Mercedes Discussion List" <[EMAIL PROTECTED]>
Sent: Sunday, February 12, 2006 10:24 AM
Subject: Re: [MBZ] Walmart vs NAPA auto
This reminds me of the logic by which Peru was once touted as a thriving
economy. The average yearly income was around $20,000 per person, which
sounds damn good for a south american country.
On closer investigation, though, that was an average with considerable
skew -
most Peruvians lived in crushing poverty, with a few ruling families
reaping
astronomical profits off the country's natural resources, yielding a nice
"average." It was rather like saying that if your feet are frozen in a
block
of ice and your head is dipped in boiling water you should " on average"
be
quite comfortable.
Similarly, while our stock markets may be up and our GDP may look good,
that
may on closer investigation mean that a relatively small number of people
in
this country are reaping record profits while most of us are seeing our
earnings stagnate or decline.
Lee
On Saturday 11 February 2006 1:41, David Brodbeck wrote:
[EMAIL PROTECTED] wrote:
> I think this trend has to stop somewhere - I read recently that white
> collar jobs were being sent overseas like all the others.
An economist would say that it will stop when the wages are equalized --
wages in poorer countries will rise, and wages in richer countries will
fall, until they meet in the middle. If you're an economist, your only
measure of people's well-being is GDP, and by that measure this kind of
trade is actually a beneficial situation overall.
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