Friday, April 13, 2007

Protect Us From Tiger Woods?

A powerful and dangerous force has been unleashed on the global economy. It’s a new source of skilled labor that has put American workers at a competitive disadvantage — and no one knows just how many jobs have already been lost because of it. The U.S. is running a huge trade deficit with this force; every year we’re spending millions more on what it produces than it spends on American goods and services. And to top it all off, this entity has built a massive currency reserve, investing large sums of it on U.S. government securities and thus enabling America’s fiscal profligacy.Why, oh why, won’t the U.S. government do something to protect us from . . . Tiger Woods?

You thought I was talking about China, and I was. But I’m also talking about the modern-day golf legend. You see, China and Tiger Woods are a lot alike.

Go here to read more of Donald Luskin's excellent article "Before You Tee Off on China . . .. . . Answer this question: What is China doing that’s any different than what Tiger Woods is doing?"

(HT: Society and Money)


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