EconoPundit: "Tens of thousands are killed when earthquakes strike poor countries. Only dozens are killed when the same quakes hit richer countries. We grieve for the dead and injured in Pakistan, but one needs to remember Pakistan is a nation that has spent, for every dollar on poor peoples' earthquake-proof housing, untold thousands or more on nuclear arms.
As anyone can confirm from this web site each year we buy about $2.9 billion from Pakistan -- most of it textiles we could easily produce right here at home -- while Pakistan reciprocates by importing only $1.8 billion in US goods. The deficit is minor compared with total GDP (less than 0.01%) but in real life terms it translates into thousands of lost US jobs.
Some of the taxes going to earthquake relief come right out of the pockets of workers displaced by globalization. Exactly how guilty are they and their families supposed to feel?"
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