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Why do railroads run intermodal so fast?
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Actually, the U.S. is brilliant at exporting something the Chinese apparently want more than we do. It's called U.S. Dollars and it takes only a few keystrokes of electronic accounting to sell off our Treasuries to the Japanese on behalf of the Chinese; thus, we don't need stacks going westbound so much. <br /> <br />Dave, you are quite right in saying that "foreign investors" would tend to view the short-run profit over the long-haul gain, but then you subvert your own particularity by saying that domestic investors behave in substantially the same way; and you're right, they do. <br /> <br />I'm not sure therefore that there is any cheer in saying that my fellow American financiers can sell me and my countrymen down the river just as easily as those in other countries, but I do think you sloghed off some misland chauvinism with your recourse to "foreign" investors in one post and "global funds" in the following. <br /> <br />The biggest mutual funds in the U.S. are Fidelity Magellan and TIAA-CREF, both of which majorities are held by AMERICAN pension funds and AMERICANS investing for retirement. And so on with the majority of "international" or "global" funds like American Funds' Capital World Growth. As I said, cold comfort, but we ought at least to know that this country's economic footprint is being shrunk (if indeed it is) by our fellow Americans. The irony is we individuals often don't get much choice--if I am a militant nonsmoker I cannot keep TIAA-CREF from investing in Altria (holding company for Phillip Morris); likewise, it would be insane of me to refrain from drawing on all those mandatory contributions to TIAA-CREF I made as a teacher if no substitute is available.
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