G and Fri it was a serious sale.
Lurking you will realize a hefty dividend on your stock this year...amazing for MS....then the stock will drop. Be ready to make a move.
Drakino every job sent out of the USA is just that, one lost job. Not only the job, but the education to qualify for that job, the schools and professionals who teach the skills and any number of other stops along the food chain supporting the effort. Take WALMART for instance, great products at great prices...all manufactured somewhere else. When they move in, smaller independents fold and base economic diversity becomes a wasteland. Guess how much of every revenue dollar stays. Guess why Europe limits the gowth of these large monolithic companies. Because in the long run they ruin economies....no matter what the publicity agencies pump over the television. Yes, it is a global economy but the words 'trade balance' mean something.
As Ravi Baktra the noted economist ....''that the
doctrine of free trade has benefited every nation on earth, save one, the
USA. His complaint also covered the degradation of the environment from the
effort of moving such an enormous volume of trade items from place to place,
instead of manufacturing them close to the point of consumption, again quite
true. His prescription for easing the pain include breaking up of
monopolistic industries to spur competition, always laudable; reduction of
intraindustry trade within multinational corporations, encouraging those
corporations to swap technologies but produce only for local markets; and
encouraging the third world to import technology and export raw materials,
rather than exporting finished products. Good luck to him and the Red Sox
on that one. He also reluctantly mentioned increasing tariffs to protect
local manufacturing, something that will lead to an immediate run of
inflation even as jobs may be saved (or may not, as the following will
illustrate).
''Let me explain. We'll take an assembly line worker, Joe Wrench. Joe
requires about 3000 calories of food daily, plus clothing to wear to work,
plus shelter from the elements, plus medical care for the injuries and
infections that healthy young workers are likely to suffer. Because Joe has
a family, and because his work is semiskilled, he's paid $15.00/hour, or
roughly $30,000/year. He doesn't own a yacht on this pay, but he does own a
couple of used cars for himself and his wife, a small house, and serviceable
appliances.
Let's then go visit Mohammad in Malaysia. He requires the same 3000
calories a day, the same clothing, the same shelter from the elements, and
the same basic medical care. He also has a family, and his widowed mother
also lives with them. He's paid in the local currency, and finds he can
support the three generations of his family and have enough left over for a
television, a few kitchen appliances, some part time household help, and a
small used car. However, when his salary in Malaysian currency is exchanged
for dollars on the currency markets, his paycheck works out to about
$1.00/hour, or about $2000/year.
Here are two factory workers, earning roughly the equivalent pay in the
goods and services they require, but guess which one is going to get the new
factory built and which one is going to lose his job to the other as his
factory is idled.
Although at the beginning of the policy, free trade with a strong dollar
meant that the US enjoyed a high standard of living on the lowered costs of
both goods and energy, the loss of good manufacturing jobs and now well-paid
skilled office work is forcing the American worker more and more into the
sort of low paid, dead end job that can only be termed economic serfdom.
American workers have been as victimized by the strong dollar policy as much
as they have been by free trade and the trend toward monopolization, and
this is why free trade has been a blessing for every nation on earth except
the USA, and it's likely to get worse instead of better.''
