[oceanview]

the term "standard of living" is at issue. what is it?

People can go out an buy a new chinese made wardrobe, and chinese DVD players, and chinese furniture. But they can't afford to pay for health insurance.

The truth is, our standard of living is only higher when measured through manufactured goods made offshore. Now that may not alone be a bad thing, because cheap foreign made goods have at least allowed americans to have subpar wage growth, and still maintain that standard of living as measured by how many goods they have. But at least we should all accept that this is what is going on, because for most people, real wages are declining.

[superloser]

You're absolutely dead-on.

I guess the term "standard of living" nowadays means the ability to consume what you desire on demand.

Most friends of mine who are observant note that we have become a "whats my monthly payment" society. The cost doesn't matter so long as the monthly payments can be made.

I wonder what will happen when the house of cards finally falls apart and the monthly payments cannot be made -- after all, in international trade, one has to have something of value to offer in exchange. If we're not producing anything, eventually, even our money will be worthless.

[Alberta's Child]

People can go out an buy a new chinese made wardrobe, and chinese DVD players, and chinese furniture. But they can't afford to pay for health insurance.

You have got to be kidding me.

If people were willing to accept the same quality in health care that they are willing to accept in the manufactured products you've listed, health insurance would be cheaper than dirt in this country.

And if a Chinese manufacturer of DVD players faced a multi-million dollar "malpractice" lawsuit every time it sold a defective product, nobody would be able to afford DVD players.