As the world population grows, and as technology makes the world smaller, a global economy is inevitable. You might ask ‘what does this do to the United States?’ There are many opinions out there on the subject, but if you look at the facts you will find the obvious answers. Globalization will eventually equalize all local economies through the common denominator of the labor market. As corporations grow and sell their wares around the world, they will always have the work done in the cheapest place possible to maximize profits. This means bad things for the U.S. labor force but the stock market will be in great shape. When U.S. labor competes with countries where there is a lower standard of living, U.S. labor looses. People who live in a mud hut with a hole in the ground for a toilet don’t need $50,000 a year to maintain that lifestyle, and therefor can work for much less than comparable labor in the States.

This is not a sustainable situation though, because eventually there will be nobody with any money to buy those goods in the U.S. at those prices, and the market will eventually either right itself (not likely) or collapse altogether and give way to small business and local economy once again.