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Old 02-04-2018, 01:46 PM
 
2,799 posts, read 2,474,983 times
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Originally Posted by homelessinseattle View Post
How about real estate. The Chinese seem to be snapping it up here and in Canada.
Yes, the real estate companies and homebuilders have benefited, but it has hurt the average American or Canadian because all it has done is pushed up the prices of real estate. If it continues, your screen name will be very appropriate for many young Americans trying to get on the property ladder.
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Old 02-07-2018, 11:07 AM
 
Location: Ruidoso, NM
5,170 posts, read 4,734,508 times
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Originally Posted by ohio_peasant View Post
The promise of globalization, is maximizing efficiency. Labor that's least-skilled and most-commoditized, goes to the very poorest and most backward countries, subject to an infusion of capital and know-how... and assuming, of course, stable governance, adherence to property-rights, transparent taxation and free trade. Labor that's most esoteric and specialized, goes to the wealthiest countries.
Or in the case of the US, esoteric and specialized labor isn't increased, or at least not enough to offset what we've lost. We fill the hole created by the trade deficit with fiscal and private debt escalation to keep demand pumped. Wages are depressed. For 40 years now and counting, ~0% real wage growth!

None of this happened by accident. Some got incredibly rich off this scheme. Follow the money.
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