I rarely agree politically with friend Treblig, but I'm with him and Merle.
I think this downturn has more to do with India and China's success than our failure. The decades of buying our cheap cheap (cheap offshore labor, cheap goods at Walmart and everywhere) funded their success. As those countries bootstrap themselves; they compete for resources and upscale their manufacturing to compete in high tech...Gah! and services too (bastages!).
As India and China increase their costs for grunt work, we globally go to Africa for the next couple decade's grunt work. Call Centers are in Ghana and Keyna now. Could this global need for grunt work finally lift Africa into the developed world - and create more competition.
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Maybe in 30 years the US returns to agriculture and really becomes the world's breadbasket.
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