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prof8 commented on the diary post Outsourcing The Presidency Of The USA by Richard Lyon.
There’s domestic out-sourcing, and there’s near-sourcing (to Mexico and Canada), and there’s off-shore out-sourcing. All three are almost always bad as practiced over the last 30 years. First, even with strictly domestic out-sourcing, it’s been used as a scam to cut compensation and life-time earnings. In a real job, before the 1983 explosion of bodyshopping, [...]
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prof8 commented on the diary post Outsourcing The Presidency Of The USA by Richard Lyon.
I disagree. Having all currencies trade against each other, and against commodities is quite rational and coherent. It is much better than the phony baloney “gold backed” standard we had in the USA for a while, especially when you throw in that the dollar was defined in terms of an amount of gold and an [...]
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prof8 commented on the diary post Outsourcing The Presidency Of The USA by Richard Lyon.
No, the Keynesians of the world would never let gold currency, or even a gold standard. It would prevent them from their stupid, recession producing and extending games.
