Saturday, December 11, 2004


According to the December 13, 2004 Business Week, US workers earned an average of $21.11 per hour in 2003. The workers in thirty industrialized countries earned $14.22. Mexican workers earned $2.48. Chinese workers earned $.64.

Thank the Lord for free trade. Since trade barriers were reduced, the standard of living for Mexicans has risen sharply. Even more so for the Chinese. In an earlier blog, I presented the numbers that show that Americans enjoy the highest real earnings ever. Americans are wealthier than ever and have the highest disposable income ever.

Politicians and news media make hay by emphasizing the negative. But, like my old grand pappy used to say, "times is good!" Rockefeller believed that the most charitable thing a person can do is to give another person an honest job. I am thankful that the Chinese are willing to make excellent goods cheaply for you and me.

Japan has accumulated 750 Billion $USD. I am thankful that the Japanese are willing to invest these funds in US Bonds, keeping US interest rates low. Like the fellow said, "we all were supposed to have learned to share in kindergarten".