[LouisianaLobster]

Trying to calculate China's direct impact on U.S. factory jobs, some labor economists use a theoretical formula. The labor-oriented Economic Policy Institute in Washington estimates that Americans lost 344,000 jobs because of Chinese imports. And institute economist Robert Scott calls it "the tip of the iceberg." "The job losses are having tremendous downward pressure on wages throughout the economy and prompting firms to threaten to close plants, which they are using to force down wages and having a chilling effect on wages in service industries," Scott said.

Give it another 15 years, and it will be Americans producing Nikes for the Chinese market. They'll get $0.25 an hour.

[sarcasm]

Poverty in Michigan balloons by 25%

[Gorzaloon]

But the Nesco Roaster wasn't covered by patents, and the Korean firm wasn't violating any trademark laws.

This erodes some of my sympathy. $15-18,000 is cheap. Crossfiles and world patents are cheap- Far less than the cost of an assembly worker.

It's a real pickle. Do we want the companies we are invested in through our pensions, 401(k)'s, and portfolios to do well, and increase profits, which is their mandate, or do we want to throw our whole town out of work? I just do not see an easy resolution. We cannot work for 27 cents an hour; The people would bankrupt and the government would lose most of its tax revenues. We cannot pay semi-skilled people the same as doctors are paid in Third World places, either.

Do we do a closed economy, like the FSU did, and simply say "The Dollar is worth what we say it is" (We kind of do that already, I guess) and stop being global? But that genie is out of the bottle.

[XBob]

3-"Give it another 15 years,"

i don't think it will take that long, i expect cash 2010.