Had It in Holland Park

Middle-class US jobs are being lost because overseas folks do them better, Arianna, not just because they do them cheaper.  

There is a global market in employees and jobs.  America priced itself out of many low-end-jobs and is now losing middle jobs on responsiveness and quality.  Higher end financial services jobs stayed here because there was a perceptions that Americans did these job better than most.  Now that financial crisis has burst that bubble, these jobs may go elsewhere as well.

Incidentally, trying to stop this flow by tariffs and trade barriers is like a store that is losing market share getting the police to fine other store owners when folks shop there.

PS: Some folks seem worried that the US will become a third-world country.  If it does, we might get a lot of those jobs back, provided we can give better value for money