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Reply #48: Wait for the new WTO rules to go into place. [View All]

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brokensymmetry Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-14-05 01:16 PM
Response to Reply #34
48. Wait for the new WTO rules to go into place.
The textile industry in the U.S. will die.

And, in 2007, the first Chinese cars will enter the U.S. Supposedly, they'll have the quality of a Lexus for 30% less. So, say goodbye to GM, Ford, and Chrysler.

So that means that those companies won't be able to cover their pension obligations. Which will then be dumped on the Pension Benefit Guarantee Corp. Which will fail...requiring taxpayer bailout...

Ah, yes, the joy of outsourcing. Bankrupting ourselves one purchase at a time. Or, if one prefers, one can call it death by a million cuts.
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