If Peter Schiff is right, the dollar is going to fall 50% against other currencies. So those Mexican and Indian workers are going to be at parity with American workers; with the caveat that they are more difficult to manage.
I agree that we are seeing a global shift, but I see it more of a global gentrification than a gloom and doom scenario. Our quality of life goes down while the rest of the worlds goes up.
Given that we over-consume anyway, can’t say that I think this is a bad thing.
