EZ, first of all.....what we are seeing now is a continuance of "the savings and loan collapse of the 70's/80's......the banks should have collapsed then but were propped up....the same thing will happen this time.....the banks get bailed out, the bubble gets bigger and we all go on with our lives....

the system will not stop repeating itself until (again) that first baker says "i dont want fiat currency for a loaf of bread".....now that the entire system is tied together like newlyweds it's even stronger...if you think for one second that china will become the global economic superpower and the US will fade into a third world country i have one word for you.........NUKES!

btw, china took a major hit yesterday....

most union men i've known accepted the fact that "easy money" disappeared years ago....the young guys (that are worth a damn) are working harder, saving more and not buying into "the credit/honor system" they have more of a "banks are fair game" outlook on things.....

EZ-"But many Americans will ask how a forklift operator felt entitled to a six-figure income in the first place"

what a man is worth is totally relative....what makes a ceo worth tens of millions per year when a monkey could do a better job....pretty soon, you may see tradesmen showing doctors and lawyers exactly what they are really worth....a man making six figures at lehman a couple years ago may not be able to get a minimum wage job today.....

who decides what someone is worth? i'll tell you who....the guy paying him! and this is my point with china.....as we get poorer, and the chinese expect more and more (because they think they are worth more) we will find out that there opportunities here at home that are long forgotten......how many "chinese drywall, petfood, kid toy" cases will it take until people decide "hey, maybe it's worth it to pay an extra buck for the baby formula".....

i think you are the one living in the past EZ...the future is here and now! and boy is it pissed off....