A point to consider here is that US industry decided it would come out cheaper by going for private group health ins and private pension plans than it would paying higher taxes for nationalized health care and pensions...since US business operates mainly on a "get results this quarter" mode, and no real "globalization" existed, it worked fine in the "fat" years. Now they find themselves trying to compete, on labor costs, with countries in which most health and pension costs are gov"t costs, and with new startups working in a labor-surplus environment, who can get workers cheaper. While labor costs, like subprime mtgs, can get out of hand, every dollar taken from the workers pay is one less to be spent, and that"s a problem where consumer purchases are 3/4 of the economy.
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Today's Featured Article - The River Tractor - by Charlie English Jr.. This is a 4010 John Deere that was used to farm on the Diamond Island which is in the Ohio River about 15 miles southwest of Evansville, Indiana. About ten years ago, this tractor was parked close to the bank as the river was washing the bank of the island away.
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