Aha, perception.  I don't recall the wise man who said it, but the quote
serves well here:

"Recession is when you neighbor is out of work, depression is when you're
out of work."...


That you feel it ok that some people lose their jobs due to some trade
policy might well be because you still have yours.



Ray Shahan

Life is not a journey to the grave with the
intention of arriving safely in a pretty and
well preserved body, but rather to skid in
broadside, thoroughly used up, totally worn out,
and loudly proclaiming:

        -- WOW!!!   What a Ride! --





> -----Original Message-----
> From: Ken Hirsch [SMTP:[log in to unmask]]
> Sent: Wednesday, March 17, 2004 2:02 PM
> To:   [log in to unmask]
> Subject:      Re: [HP3000-L] OT: Powell reassures Indians
>
> From: "Gates, Scott" <[log in to unmask]>
> > I whole heartedly agree that trade a good thing, however, we are not
> > benefiting from the trade over all. At present, capital (and jobs) are
> > flowing OUT of the United States, with only a benefit for the top level.
>
> Capital is flowing INTO the United States.  To quote (Democratic)
> economist
> J. Bradford DeLong:
>
> "Instead of capital flowing from rich to poor, it flowed from poor to
> rich--and overwhelmingly in recent years into the United States of
> America,
> whose rate of capital inflow is now the largest of any country, anytime,
> anywhere."
>
> http://www.j-bradford-delong.net/movable_type/2004_archives/000378.html
>
> I have seen no evidence that the trade is costing the United States jobs
> overall, although it certainly costs jobs in some sectors, textiles being
> the hardest hit.
>
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>
>
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