"Look at all the engineers China is graduating. If China marries its massive labor force to technology, things will be very bleak for this country. In industry after industry, wages are starting to get cut back, fringe benefits are getting cut back—look at the poor airline industry—we’re in danger of exporting our standard of living and importing our unemployment . . . You can’t have much of an economy if people are just flipping hamburgers, trading stocks, and suing each other . . . Are our grandchildren going to dive for coins from cruise ships in the East River?”
Wilbur Ross
Never mind hedge funds. Wilbur Ross gets rich the unfashionable way—in steel plants, textile mills, and other stuff nobody wants.
Check out The Bottom-Feeder King
No comments:
Post a Comment