[PEN-L:4610] Re: Workers incomes

[Bruce McFarling <brmcf@xxxxxxxxxxxxxx>]

In contrast to the case in East Asia, median incomes in a lot of Latin
Maerican nations have seen sharp declines in the last ten years.  And in
AFrica, in a lot of countries not only have (partly IMF imposed) policies
help push down median incomes, but per capita incomes and in some cases
gross domestic product have been stagant or declining or the same
decade.  Maybe the recent experience in East Asia is akin to the American
roaring twenties.

	For some African nations, it would be enough to cap hard currency debt
payments for ten years at 10% of hard currency exports, with compound
interest forgone; actually probably be better for the lenders in the long
run than the economic collapse that is presently taking place.  ACtually,
the same arrangement with Lat. America could do wonders for the U.S.
merchandise trade balance.  But Jubilee sure would be nice.

Virtually,

Bruce McFarling, Knoxville
brmcf@xxxxxxxxxxxxxx