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Fed Scrambles To See Greenspan's Scathing Critique of U.S. Economy

Submitted by Mark F, Sep 17, 2007 09:49

The exploitation of third-world economies for cheap labor has nearly run its course. Japan and Korea long ago demanded fair pay for the goods they produce. China and India are not long behind. As we drain the cheap labor well, the price of goods will continue to increase, affecting the entire economy in ways that will be impossible to control. Add to this the increasing high price of oil and our unwillingness to do anything about it, and we are facing a very drastic change in the way we live our lives. Planning now for our dark future and making the necessary changes to limit its effects may help to ease the pain, but it will not prevent it.

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Other reader comments on this article

Comment	By	Date
"Lots, and none at all." That is what Bilbo Baggins told the troll who asked him if there were any... [MORE]	John Spencer Yantiss	Sep 17, 2007 14:28
Come on Alan who you kidding here. You and I know the real problem is corporate greed squeezing every dime... [MORE]	Jim Wiegand	Sep 17, 2007 11:37
Especially this part "Mr. Greenspan says that out of office, watching the deficit mount, the housing market boom, the economy slow,... [MORE]	Mark Bower	Sep 17, 2007 11:31
The exploitation of third-world economies for cheap labor has nearly run its course. Japan and Korea long ago demanded fair...	Mark F	Sep 17, 2007 09:49
Alan Greenspan looks at the economic system from the top down, but most of us look at the economic system... [MORE]	Thomas Melillo	Sep 17, 2007 09:29
Perhaps Mr. Greenspan's respect of the independence of the Fed should have been eclipsed by his good sense and respect... [MORE]	Jim	Sep 17, 2007 02:10
I have a B.S. in Business Admin-Finance. I was a stockbroker during the 21 percent prime days of Vocker/Carter. In... [MORE]	Tim	Sep 17, 2007 01:53
Barack Obama will be a great President of the United States of America. He will instill an ethical compass into... [MORE]	DOUGLAS JOHN BOBB	Sep 17, 2007 01:41

Reader comment on:Fed Scrambles To See Greenspan's Scathing Critique of U.S. Economy

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Fed Scrambles To See Greenspan's Scathing Critique of U.S. Economy