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Middle Class America; Down and Nearly Out:

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Message Mike Folkerth

Good Morning Middle America, it's time for your King of Simple dose of reality. Swallow it now and it's the worst thing you'll have to face all day.

When NAFTA was first introduced, I was writing a weekly column and offered to eat a 10 pound crow on the court house steps if Middle America benefited from the agreement. All of my black feathered friends can rest easy; I'm not planning on dining on crow any time soon.

It's hard to believe that NAFTA was signed into law 14 years 3 months and 2 days ago; not that I'm counting. What is more difficult to believe is that just now some of our politicians are beginning to question the wisdom behind that agreement. The ones doing the questioning of NAFTA are running for president and need the votes of those who are unemployed because of the NAFTA .

Mr. William Jefferson Clinton put pen to paper on NAFTA and exactly 12 months later, autographed our entry into the World Trade Organization. Regardless of main stream economists spouting the benefits of both agreements, my personal studies and findings have never changed; these twin tornados leveled the lifestyle of Middle America...forever.

Most days I can quickly find a novel example in the news of the negative impact of foreign competition. Today, Dell Computers announced from Round Rock Texas, that it will cut more than the 8800 jobs previously announced; to remain competitive. This is the same Dell Computer who signed a $52 Billion deal with China for components; to remain competitive.

I'll interpret that last statement, "We can get this work done off shore for far less money than we can in the U.S.; Hasta Luego."

"The entire Dell leadership team is focused on addressing these opportunities and challenges," Michael Dell said. "We believe we've begun the journey to transform the company."

The part about opportunities and challenges means, our stock holders will have greater opportunity to make money and our former employee's will have challenges ever finding another job.

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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
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