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Can you say lower wages for Americans? I knew you could.

Excellent Idea! Destroy the middle class and get back to that fine age when there were barons and serfs. The barons are the investor class that ownes the property and the assets, and the serfs are competing with the Chinese prions labor.

I am sure that Visa and the mortgage lender will be pleased to hear that all of their loans are now going to be considered distressed because 30 yr mortgages based on a certain level of income and spending habits accrued over years of a standard of living are now to be paid back by $10,000 a year programmers who were making $90,000+. Stock analysts will be paying off their bills at 1/3rd the income.

I am sure that the government will also reduces property income and sales taxes to provide relief for the growing number of people who are now working for Indian salaries.

Of course with all of that reduced income among the serfs this country will be able to maintain the welfare state

"Can you say lower wages for Americans? I knew you could."

I can attest to the fact of wages falling fast in my area. I was just this week notified of a five percent across the board cut affecting myself and everyone else in the operation. When productivity rises faster than demand for the product what results is a glut of labor, any resulting increase in profits goes to top management and owners with workers producing more for less pay. In my case it is even worse, I believe the plant is operating at a loss currently. There is no way to sell the product for more and I expect the inevitable result will be a plant closing, the question is when.
Free Republic is loaded with those who refuse to face reality, everytime some government statistic sounds positive they start posting pictures of little Tommy Daschle who is "deeply saddened" or some such but we are not going to solve the problem by pretending it does not exist. I no longer care a whit for economic statistics, I pay attention only to what I can see going on.