Re: [OT] USA Elections
- Posted by EUWX Nov 05, 2012
- 2824 views
Ask the people who shop at places like Walmart and have a better standard of living as the result of lower prices.
Matt
Better standard of living? http://www.dailyfinance.com/2012/08/10/how-everyday-low-prices-are-costing-americans-their-jobs/
In a business trip round the world in the 90's, I was shocked to see the enormous progress the Japanese were making in their wine production - not their established "Saki" but imitation of the German and French wines. In Germany, I mentioned this to a senior German executive at a dinner where he ordered an expensive German wine. When I pointed out to him what the Japanese were doing, and that very soon the Japanese are going to put the German wineries out of business, he simple said: "So what! We will get cheaper wine of our taste, and with the money saved we will go and buy up their wineries!" Obviously, he was not concerned about loss of German jobs.
On a different note, the advent of very cheap and very accurate digital watches made in China, has not stopped the sales of exorbitantly priced Swiss watches, nor has the Swiss standard of living gone done in any way.
