Bernanke: Globalization may boost U.S. inflation »

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  walden3

  March 3, 2007, 1:23 p.m.

  does anyone think that bernanke cares the least bit at all about working people, or that he'll structure any of the feds policies towards the best interest of working americans?

  every time he hikes the rate i think to myself now there goes another huge transfer of wealth from the workers to the owners. i know it sounds marxist, and i'm not. i'm a capitalist.
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  Harbeas

  March 3, 2007, 9:55 p.m.

  I have been against this globalization from the onset. It has not helped the average American at all. In fact it has been detrimental to most.
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  NelsonR

  March 3, 2007, 10:06 p.m.

  harbeas - Elated you added at the end, "to most". I am with you in the fact that I also knew that our corporate and lobbyist elite would be the benafactors for, Globilization.

  Our representatives do not seem to mind. China is the supreme winner on this one, both Europe and America produce very little anymore with huge trade inbalances in China's favor.
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  eugenegerard

  March 4, 2007, 12:18 a.m.

  Globalization will destroy our democracy and turn the US into a third world country, just like what we have done to South America.
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  MikeReardon

  March 4, 2007, 5:33 a.m.

  Globalization gives products and services at lower cost than ever could be match as domestic production. Sorry and commodity prices, energy (oil) are inflated by artificially processing techniques, self imposed capacity restrictions and also exorbitant energy (all oil and gas) profits taken right before your eyes. The speech misses three real cost inflators, health insurance costs, housing finance, and creativity financial activity (hedge fund and m&a activity), it picks what can be seen as second tier subjects to point to. All the other major inflating price factors in the market are discarded.

  The answers to globalization is in to few services being created here. The business community could expand local personel service activity with the proper tax structure. If instead of being exorbitant profits, the real competitive product cost being gained, were managed to deflate services costs inside this country.
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  IcCaRus

  March 4, 2007, 9:26 a.m.

  common sense tells us that the end result of globalization will be that standards of living will go up in developing nations, and down in america and europe.

  bottom line, it hurts the average american in the long run... sure, you can get goods made in china for next to nothing at WalMart, but if we keep sending jobs there, at some point we wont have the money to buy those cheap things from china... not to mention pay mortgages, car payments, groceries, etc, etc..

  for their part in americas participation in globalization, and the resulting loss of american jobs, id like to say SKREW YOU to Bush 41 for signing nafta and SKREW YOU to bill clinton for not vetoing it after congress ratified it.
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  NelsonR

  March 4, 2007, 11:15 a.m.

  IcCaRus - WELL AT LEAST OUR POLITICIANS ARE WALLOWING WITH THE COROPORATE ELITE, THEY ARE HAPPY. THATS WHAT MATTERS.
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  MikeReardon

  March 4, 2007, 1:29 p.m.

  Getting cheap goods and services and a continuing debt refinance from Asia, for the transfer of manufacturing production and investment, is the deal business made in Globalization. American business wants to evade and discard its past responsibility for pension costs and health care plans to be competitive and gain higher direct returns, they will simple take bankruptcy to get out of any major continuing debt structure. The two major holes coming in the U.S. economy are pension costs and health care with coming retirements. The government will be left with these bills and deficit government spending is going to fill 20% of GDP. I tell you this restructuring of taxes for local services arising from greater government responsibility is about all that is left on the table.
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  eugenegerard

  March 4, 2007, 3:18 p.m.

  When you sell the support system to you house, it collapses. It is that simple. don't believe all the economic malarkey the corporatists put out. They don't care if you are poor or if your children have food or medical care as long as they can live in their gated communities. They are un-American fascists. The economic engine of fascism only works on on principles of greed.
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  JenMurdock

  March 4, 2007, 8:24 p.m.

  I think this Ben guy is just a liar that is trying to coverup the eventual fall of our economy. Never mind that many jobs are now overseas (esp manufacturing, which is the backbone of a good economy), fuel is not counted towards inflation (but it should be), the only growing jobs are in the retail sector (read: low pay) and people are in debt and losing their houses in record numbers.

  Also, having China invest it's surplus (thanks to all the companies having set up shop over there to get cheap labor) in our economy is not a good idea.
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  MikeReardon

  March 4, 2007, 9:46 p.m.

  As Rumsfeld said about working with the army you have not the army you want. We get to this with the deed done to us, and no going back. The western capitalists nations have made the trade with developing eastern nations (some socialist), to transfer work process for lower cost products and services, done deal. The fact is Bernanke types can change the rules of what has value when they want. Right now we are working with only more creative finance of our debt, tomorrow the developing world may trade our debt service as assets to pay for real commodities. Start looking for the best tax structure to encourage local service work near your community, any fake government project make keep you employed. Its what we have now, so make it work people.

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