Tuesday, March 11, 2008

Congratulations, America. You're the Third World now

According to this story at BBC.co.uk, BMW is cutting 8100 jobs in Germany and increasing production at its plant in South Carolina. American dollars are cheap, y'see:

Analysts say that by building more vehicles in its South Carolina plants, Munich-based BMW can pay less wages in euros ...
Hey, remember when American manufacturing went overseas because the dollar was strong compared to less-developed nations' currencies? It feels weird to be on the other side of that relationship. Maybe this was Bush's plan all along: drive the dollar so far down that wealthier countries will move their manufacturing here. Brilliant!

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