[JNB]

Jumper, accept less in order to get more? Sorry, that is not going to fly politically and the longer this "free" trade drags on, the more likely the voters in the US, fed up with more declines of their standard of living, will elect those who will make the uS a European style welfare state. Theory may make sense, but sorry, it wont fly in the real world. The US consumers has been helped by a massive expansion in the M3 money supply that really loosened up credit standards, but this situation can not go on long term. When the bills come due and more and mroe consumers can not pay them, they will elect those who promise to help them.

[A. Pole]

Sorry, that is not going to fly politically and the longer this "free" trade drags on, the more likely the voters in the US, fed up with more declines of their standard of living, will elect those who will make the uS a European style welfare state. Theory may make sense, but sorry, it wont fly in the real world.

You forgot that there is a third mode - Latin American style oligarcy. If the voters want to extract some real consessions from the owning class, they will be deprived of power to vote, either openly or in a disguised form.

Is USA drifting closer toward Europe or toward its southern neighbours?