MSimon wrote:choff wrote:Interesting article I was just reading, according to an ECB report, the average Italian is twice as well off as the average German financially. Too bad for the average German that their government has to bail out the Italians.
It should be: Testosterone Pit - where the truth comes home to root.
We are fooked. It is also looking like government ownership of the housing stock (the US is now attaining that condition) is not good for wealth accumulation.
If it's true then having a national economy based on the exporting of manufactured goods isn't the great wealth model it's cracked up to be, unless you own the factory that is. My own experience before free trade was that everything manufactured in the States was 30% off what it cost in Canada except with the duties. So most of the country was hinterland to Ontario with it's manufacturing base, and they stopped any other province from developing industry via a thousand little ways. If the model requires either a hinterland or colonies and workers that can only afford rent then it's pointless for the majority. I've also heard one arguement that wind farms are competitive if you thing of oil as being subsidized by military protection Throw in that some of the new factories are automated to the point that it takes five engineers to program the robots that did the work of a thousand people and there is no point, you can't sell the product to robots and nobody else has any money to buy it.