DOES GLOBALIZATION MEAN EQUALIZATION OF WAGES?  TWO FIRMS IN CHINA RECENTLY HAD LARGE WAGE INCREASES.  ONE INCREASED BY FIFTY PERCENT AND THE CHINA HONDA PLANT WENT UP OVER TWENTY THREE PERCENT.  CHINA'S EXPORTS INCREASED FIFTY PERCENT OVER A YEAR AGO. AS WAGES INCREASE THERE, IT WOULD SEEM WAGES HAVE DECREASED HERE, WITH THE POSSIBLE EXCEPTION OF GOVERNMENT WORKERS.  WILL CHINESE GOODS THAT WE IMPORT GO UP TO THE POINT WHERE WE CAN MAKE THEM HERE CHEAPER AND PROVIDE JOBS FOR AMERICANS?  IS THE DIFFERENCE IN MANUFACTURING COST DUE TO STRINGENT REGULATIONS HERE AND LAX REGULATION IN CHINA?  

CONGRESS IS CALLING FOR HEARINGS ON THE GULF SPILL, WHICH WILL PROBABLY RESULT IN MORE REGULATION ON DRILLING, WHICH WILL RESULT IN HIGHER PRICES ON THE GAS WE USE. GET READY FOR IT AMERICANS.