Letters to the Editor
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Unemployed construction workers are back in Mexico
The demograpics of the U.S. construction work force suggests that the job losses would never show up here. That they finally did bodes badly for working Americans, but worse for the Mexicans who returned home to find out that their diet staple tortillas are a lot more expensive, and everything else probably, thanks to the ethanol program in this country. While inflation didn't find its way back into the United States from China, for a long long while, you can bet it will be a long time before it is taken out of the system, which means something like stagflation, inflation which persists through a recession, and destagflation probably, rising prices, and falling interest rates. Rising rates provide the savers in this country with a hedge against the ravages of monetary excess. This next recession will a doozy, and worse.