Friday, June 13, 2008
Interesting that with all the talk on Wall Street about the benefits of globalization (for Wall Street, not for jobs on Main Street), one of the reasons that the stock market is supposed to be up today is because Ireland rejected the new EU constitution, which will throw the EU into a stew. So, Wall Street's attitude on this seems to be, "Europe's loss is our gain." I think that is ironically a shortsighted view. Wall Street should welcome a stronger, more unified Europe, but on the other hand should be more concerned about outsourcing American jobs to overseas firms.