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To: Willie Green

World trade isn't a zero sum game, where we lose if they win (this is the old mercantilist fallacy, committed by governments even today). When the US unemployment is 5%, income tax receipts are up $90 billion, and GNP growth approaching 4% the trade defect is clearly not a problem. All those dollars will have to come back some day (you can only really spend them here), and in the mean time our dollars help to add liquidity to the international market place. The people who complain about jobs going overseas, are complaining about nothing with 5% unemployment anyone who wants to work can find a job here now. So what if other nations do well, our success is enhanced by success elsewhere. Are we like the French, that we need others to do poorly so we can feel like we're doing better than them.


27 posted on 07/19/2005 11:32:22 AM PDT by Eagle74 (From time to time the tree of liberty must be watered with the blood of tyrants and patriots)
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To: Eagle74
Good morning.
"World trade isn't a zero sum game, where we lose if they win..."

The truth is that if we lose badly enough, the world loses, too.

If our house of cards crumbles the rest of the worlds economies get buried in the rubble. It would certainly make for interesting times.

Michael Frazier
35 posted on 07/19/2005 11:52:32 AM PDT by brazzaville (No surrender,no retreat. Well, maybe retreat's ok)
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