The Right Scoop- Anonymous
Yes, protectionist trade policies have worked so well in the past. /sarc
The proper response to Chinese success is not an attempt to artificially restrict their competitiveness but to stop putting balls and chain on the ankles of businesses here. The US isn’t such an enormous share of the markets anymore than we are immune to market upheavals around the world and a necessity for their sellers.
In the 90s asia went through a severe depression that we didn’t even feel, and the US GDP used to be more than the rest of the G10 combined. Today it’s the G20, and the US isn’t even #1. Trump needs to wake up and recognize the real problem here is not Chinese successes.
A 25% chinese tariff would only immunize shoddy American competitors from the competition and give no incentive to better their own goods while keeping all of the stifling regulations in place. The result will be, as always, a loss of quality and an increase in price. Retaliatory measures are sure to come as well.
- Tyler
Haha. Dan, you beat me to the punch. You said everything I was going to and more.
- Conservative Hippie
Right on the money Dan! Excuse the pun.
- Anonymous
Dan, I agree and also let me say I really am not up to snuff on this, so with that being said; I read somewhile back that they (the Chinese) impose heavy tariffs/ taxes on our goods as soon as they arrive over there. Is that true? If so, why not do the same? Also is there anyway we can put some kind of a stop on the ceap POS goods that come from China? ie lead based toys. Tainted dog food. Noxious drywall etc. It seems like every week we hear about this crap!
- Anonymous
Minor goods made in china have a de facto monopoly (regardless of the brand name) because they are the cheapest place to set up, thus the price of goods there has a lower baseline than almost anywhere else. If other places were able to compete for the factories there would be quality competition in the markets and if there are enough consumers who care the manufacturers would be compelled to get their stuff in line. See my response to Calin for a few of the many unnecessary added costs to doing business in the United States.
I’m against all tariffs for several reasons.
1. What place does the U.S. government have coming in and demanding 25% of the value of a voluntary trade between 2 persons not involved in the government? None.
2. It’s treating the symptom, not the cause. Rather than making it more appealing to set up in the US, they punish the people who set up in China.
3. It will raise the prices you and I have to pay on many minor goods that we either need or have grown accustomed to. Not effecting much of the profit of asian factory goods, but punishing you and I to the tune of 25% or hurting American companies online the chain of delivering those goods between import and consumer when they try and minimize their increase in price. - http://www.theancient.us The Ancient
While I agree that we should NOT be instilling tariffs today, due to the way the global economy is structured, I do feel compelled to point out that tariffs were the funding source for the federal government, that was suppose to be how we paid for the federal government, not through income tax, estate taxes and all of the other taxes we now have.
Personally I would much rather see tariffs and other consumption based taxation, then income based taxation. There is a defacto tariff on all goos imported for resale, much higher than 25% right now.
- Anonymous
I would rather see no taxation. That includes consumption and non-consumption taxation. It’s theft, let the government at least call it by it’s true name, “extortion.”
- Anonymous
A 25% chinese tariff would only immunize shoddy American competitors from the competition.
Do tell, how do you compete against companies that flat out steal our technology and a labor force that will work for 11 cents a day?
American businesses send their factories over to China because we can’t legally find labor that cheap here. Then while they’re there the Chinese essentially take over the businesses.
This isn’t any different than legitimate home contractors trying to do business against those who use illegal immigrants as their work force. How can you compete when your competition isn’t paying workers comp on its employees? How do you compete when he doesn’t have license fees or insurance or bond payments. The answer is you can’t.
Don’t try to blame this on uncompetitive American companies. The deck is stacked in Chinas favor and by no accident.
So you wouldn’t be opposed to just importing Chinese sweat shop workers here so we can be just as competitive?
- Anonymous
Minimum wage laws, legislative favoritism to unions, and unnecessary politically motivated regulation are what make the cost of setting up shop in the US so prohibitively expensive. Revoke all of those things, as well as the ABSURD corporate tax imposed here in the us and you will see shops flood back into these borders. Costs aside for a moment, the fine print in the contracts for setting up shop in China are ridiculous, but people bite the bullet because the profits were there.
In china, in order to build a factory there you have to agree that by contract the chinese government owns 51% of the factory as well as the ability to buy the rest of it should they choose. They will, if it’s worth the effort, allow the westerners to set up, train the workers and supervisors, get everything going, and then buy up the rest of the factory and all the people who now know the procedures and keep it for themselves. Doing business in China is not sunshine and farts, people will come back once a profit is feasible.
Illegal Immigration is a problem for much the same reason. People use illegal immigrant workers because they can’t simply pack up their farm and the soil and move elsewhere. US workers are needlessly prohibitively expensive, remove the political increases to cost and get rid the nanny state programs that give other people’s money to “illegals,” and there won’t be much to complain over after a few years.
- bust_my_ass
Your first sentence says it all. American labor and UNIONS are too expensive in the US! Plain and simple. We all agree people should not be paid 1.00 a day however, it should not cost 10 million dollars to repave a section of highway. Nor should it cost 150.00 an hour for 5 guys to fill a pot hole. Both dems and Republications refuse to address the real problem…. That labor in the US is out of control! When i was a kid, if you didn’t do good in school and go to college you wouldn’t prosper. Now you can have a 7th grade education do nothing and make 200k a year if you know someone in the union!
- bust_my_ass
Your first sentence says it all. American labor and UNIONS are too expensive in the US! Plain and simple. We all agree people should not be paid 1.00 a day however, it should not cost 10 million dollars to repave a section of highway. Nor should it cost 150.00 an hour for 5 guys to fill a pot hole. Both dems and Republications refuse to address the real problem…. That labor in the US is out of control! When i was a kid, if you didn’t do good in school and go to college you wouldn’t prosper. Now you can have a 7th grade education do nothing and make 200k a year if you know someone in the union!
- Anonymous
Hah, I don’t think we all agree that people shouldn’t be paid $1.00/day. Therein lies the problem.
“Now you can have a 7th grade education do nothing and make 200k a year if you know someone in the union!”
You know someone of whom that’s true?
- http://www.theancient.us The Ancient
I disagree at somewhat. Direct pay and compensation is not the main driving force behind why china has been able to “steal” the manufacturing jobs
EPA, and Employment regulations, Payroll Taxes, Corp. Taxes, Local government BS (property taxes, minimum employment guild lines, and thousands of stupid ordinances) is more of a factor, Unions or less than 7% of the work force and it is VERY easy to set up non-union manufacturing, all of the Japanese auto makers have as well as BMW, Subaru, and several other manufacturers
Unions are why Ford, GM, and Chrysler are LEAVING the us, but that is not why alot of the other jobs have, In some cases (esp steal production) it just became to expenses to comply with the Federal and local regulations.
- http://www.theancient.us The Ancient
I disagree at somewhat. Direct pay and compensation is not the main driving force behind why china has been able to “steal” the manufacturing jobs
EPA, and Employment regulations, Payroll Taxes, Corp. Taxes, Local government BS (property taxes, minimum employment guild lines, and thousands of stupid ordinances) is more of a factor, Unions or less than 7% of the work force and it is VERY easy to set up non-union manufacturing, all of the Japanese auto makers have as well as BMW, Subaru, and several other manufacturers
Unions are why Ford, GM, and Chrysler are LEAVING the us, but that is not why alot of the other jobs have, In some cases (esp steal production) it just became to expenses to comply with the Federal and local regulations.
- Anonymous
I listed regulations and taxes as well, but thank you for going into much greater detail. There’s a great deal keeping business from our shores, and the ignorant, jingoistic, or statist only want to use expansive government treatments to the symptom while ignoring the cause.
- Anonymous
Like I said the deck is stacked in China’s favor. The only people that can compete against China would be countries that still have slavery. There is no way to compete against them. How do you compete against a country that will literally steal your idea and all the man hours that went into developing that idea. Then turn around a make a knock off product for less. Of course they can charge less they spent little to no money on R&D.
Don’t get me wrong we should do away with all of the impediments put in the way by government if we want to see the US thrive again, especially Unions. That being said we still wouldn’t be capable of being competitive. The standard of living between the US and China is literally night and day. Even with all regulations removed Americans are not going to work for 11 cents a day.
- Anonymous
No, but importing, even without tariffs, costs money, and working in an environment that respects contracts and IP is a benefit I wager they would seize upon should the differences in costs in operating shrink.
The Deck is absolutely stacked in China’s favor, I don’t disagree, but my point is that an enormous part of that stacking is done by the US government itself. We can’t do anything about China’s crap, and likely there is the beginnings of a labor movement starting there, but our oligarchy can definitely do something about what they’ve contributed to the problem. Stacking more bad legislation on top of other bad legislation has never lead to a good outcome in the past, removing bad legislation has.
I’ll leave out my other more radical/moral objections to tariffs, as those are likely shared by few, at least their implications.
- Anonymous
Off topic…Tomorrow is Glenn’s birthday. Hope the guy can slow down long enough to have a celebration.
Trump is smart and is no nonsense, and I do think he sincerely loves America. I like most of what he says. I haven’t heard him speak on the 2nd amendment or light bulbs. I would think he would be pro-American light bulbs. Can he relate to the little people and every day American struggles? What is his islam view?
It would be refreshing to have someone that isn’t a politician to be president for a while. It would put some boxers in a bunch, lots of wedgies in DC. Someone fresh, new to blow everyone out of the water.
Is there anyone that can be trusted? Only one I could trust would be West.
“Our leaders are stupid”. Love it. Good one Donald. He isn’t afraid to speak his mind.
- Tyler
I’ll give him credit for speaking his mind, but he is certainly not the best thing for our country. The idea of tariffs has been tried in the past and got horrible results.
Only a truly free market with no regulations of trade or taxation or subsidies of any businesses both domestic and foreign will give us a leg-up against China.
Getting rid of minimum wage and restrictions for immigrants to come and work would be a great start as well.
- Tyler
I’ll give him credit for speaking his mind, but he is certainly not the best thing for our country. The idea of tariffs has been tried in the past and got horrible results.
Only a truly free market with no regulations of trade or taxation or subsidies of any businesses both domestic and foreign will give us a leg-up against China.
Getting rid of minimum wage and restrictions for immigrants to come and work would be a great start as well.
- Last Sane Man, CA
Disagree with Trump. American industry even now is far beyond the point for the need for protective tariffs, even those protecting us from unfair trade practices overseas. Free trade is the way forward, not “safe trade”, ie. “suiting-up-your-child-in-foam-so-he-won’t-get-hurt-on-the-playground trade”.
- gut_check
Dr Paul 2012
A,B,C & All of the Above
The Only Answer 4 U.S. - DCG
Well, what he says sounds good. But yeah, I wouldn’t trust him either. I’m going with Herman Cain in 2012!
- http://twitter.com/eEditor Steve B.
For any Michael Savage listener, this is OLD NEWS. Honestly, Savage is the only one worth listening to anymore.
- Tyler
I don’t know what to think of Michael Savage. I used to think he was Alex Jones lite, but now I think of him more as an R than ever before who just happens to have been one of the first ones to jump on the NWO boat. Not only this suggestion that Donald Trump would make a good pres made me question his values, but the fact that being a so-called pro-freedom guy decided that salvia be illegal in all states was another neo-con thing which jumped out at me.
- Anonymous
Any Republican proposing more government through higher tariffs or taxes should be ignored as a candidate. The government doesn’t need more revenue. The government doesn’t need more control over the economy. If I want to buy a cheap Ipod knock off from China it’s none of the government’s business.
- Tyler
If we would get rid of minimum wage amongst other regulations, we would actually have a chance against China…but with so many rules and taxes already…we just plain don’t.
- http://punditpawn.wordpress.com PunditPawn
25% tax? Say goodbye to the dollar… China and Russia would dump their bonds (like they tried under Bush and forced the US to create TARP) and this would crush the dollar. They would do it at huge financial loss simply to save face and would likely kick off financial Armageddon. Not an option, unfortunately.
- http://punditpawn.wordpress.com PunditPawn
25% tax? Say goodbye to the dollar… China and Russia would dump their bonds (like they tried under Bush and forced the US to create TARP) and this would crush the dollar. They would do it at huge financial loss simply to save face and would likely kick off financial Armageddon. Not an option, unfortunately.
- http://profiles.yahoo.com/u/DFSGRXZN2TU4X4HEUVUAM7DUQQ whippers
Geez, Donald — you’re fired! Taxing Chinese imports is like lighting a match under the thermometer to make the heat go up. This does nothing to increase the heat in the house and taxing Chinese imports doesn’t make American companies more competitive with Chinese and other companies. Democrats and other statist despise my ideas, and I return the favor, I despise Democrats and other statists.
No company should pay any taxes whatever. The quack environmentalist dictatorship and the bloodscking unions should be overthrown and destroyed. All foreight aid should be terminated immediately and a large part of the “government-owned” land in America should be put up for sale to kill-off the national and state budget deficits.
The Feds and the states should all have balanced budget amendments and their execs should have line-item veto authority. While we shouldn’t have “national ID cards” — we shouldn’t be branded like cattle by government — we should have Voter ID cards and HUGE penalties and JAIL time for voter fraud and election fraud. Pul the plug on the UN — throw them out and let them move to Belgium or Switzerland — without a penny of American taxpayer money.
I’m just getting started, folks.
- Tyler
I know nothing of you other than that you call yourself “whippers” and what you just said in this small post, but I would gladly consider you for a candidate before I would put a oligarch like Trump on the table.
- Anonymous
Should there be a State at all? To my knowledge, myself and the (banned) Onema are the only two posters on this sight who have gone that far, maybe you’re the third.
- http://www.theancient.us The Ancient
Unless you want to speak Chinese and/or Russian, Yes,
you Dream of Stateless utopia can never work for long term, Sorry it cant, and do not use the “Wild West” as an example, they were still protected by the US Government.
- http://www.theancient.us The Ancient
Unless you want to speak Chinese and/or Russian, Yes,
you Dream of Stateless utopia can never work for long term, Sorry it cant, and do not use the “Wild West” as an example, they were still protected by the US Government.
- Anonymous
The mild west defended itself and drew no attention from the US government unless the private groups were beating back State favorite corporations/groups who initiated violence to take land and other property. Once prosperity became commonplace and on the raise the State decided to move in and force a role. Even then, many times towns would bar authorities from the fiat governments in lieu for their own to watch over their communities.
But since you did not wish to hear about the mild west, I’ll tell you about Ireland and their stateless freedom for over 1000 years. Or maybe Iceland and their stateless society which lasted for 300 years until Vikings came along and incited civil war?
You gave no reason why what I aim for is either utopian or unfeasible, thus it is assertion. A shallow and overused assertion at that. Give some reasons or you are little more than a troll with that post.
I’ve also told you that my idea is not utopian, because it does not ignore or necessitate a total change in human nature. My goals are centered on and acknowledge human nature and history. You never offered any response to this last time I told you, so I’ll assume you never read it or discarded it out of hand. Either way, explaining this to you seems to be a waste of time like asking my dog to speak Latin.
Go back to worshiping your holy text (Constitution) and the government it established while simultaneously claiming to be for freedom. If anyone is utopian it is the Minarchist (you) for proudly denying the nature of the State, it’s invariable and inexorable expansion, by claiming it can be limited by a peace of paper despite having all the decision making power and all the heavy duty guns to enact them. I can name several stateless societies that functioned off the top of my head, can YOU name any State in history that have not grown in clear defiance of any promises or precious Constitutions?
Side note: How about all that total chaos that burst out in Egypt once the police disappeared…oh wait, neighborhoods were guarded by people who lived in them with bat and club. The violence only started when Government plainclothes thugs started shooting, beating, and fire bombing protesters.
- http://www.theancient.us The Ancient
The Vikings settled Iceland, the Vikings were the stateless society you dream of, the problem was that human nature prevailed and a select group of individuals consolidated their power and “ruled” over the “peasants” which caused a revolt and collapse of the society. Iceland only survived as long as it did because A> it was technologically isolated, not many people could even get to the island, b> they had a very low population density
At the end of the day, there is no “perfect” society, it does not exists, and as we increase the population density, and decrease the amount of resources (land for growing food, metals, etc) the ability of a stateless society to function decreases as powerful factions (communities, families, etc) of the stateless society will, as is human nature, use the power they have to “rule” over the lesser factions and at some point end up as a Nation State, probably a Monarch or Dictatorship.
Further true stateless societies , as well as a minimalist Constitutional republics, only function if the people in them are educated and honorable, outside of that both collapse.
I am not claiming the constitution is “perfect” but if the Constitution was FOLLOWED AS WRITTEN we would not be having hardly any of the issues we have today.
People became apathetic, and complacent. We allowed the government, at all levels, to seize more power than ever was intended. That is not the fault of the Constitution, nor it is really the fault of the State, as you point out the State has a natural function to gather more power for itself, that is after all part of human nature. We, the people, were put in charge of guarding our liberties against the encroachment of the State. We, the people, have failed in that task.
- Anonymous
So then I take it that, no, you can’t name a single State which did not expand beyond any theoretical constraints placed on it, even the very people who wrote America’s Constitution violated it themselves. As it was written you say? That was not the case for even Washington’s terms in the United States, but I’m sure it’s perfectly realistic, somehow, to think that will be the case in the next attempt.
Hell, even Nestor Makhno’s free territory lasted longer than it took for the Constitution to be violated by it’s own authors.
I never said Iceland was perfect, but it failed after the statist elements won the civil war incited by harassment. It’s isolation is not some point against it, the United States has benefitted and still does from similar physical isolation, the big differences is that the United State’s didn’t even last half as long as Iceland until it’s civil war.
History is a catalogue of societies rising and falling or being conquered. A larger more militarily powerful State conquering a free society is no more an argument against freedom than State A being conquered by State B. My vision has never been claimed to be an eternal or perfect solution, simply a better (more just) one than can ever be brought about by a State, because of the very nature of the State.
I’m still waiting for that example from history of any State remaining constrained by anything at all.
- http://profiles.yahoo.com/u/DFSGRXZN2TU4X4HEUVUAM7DUQQ whippers
Geez, Donald — you’re fired! Taxing Chinese imports is like lighting a match under the thermometer to make the heat go up. This does nothing to increase the heat in the house and taxing Chinese imports doesn’t make American companies more competitive with Chinese and other companies. Democrats and other statist despise my ideas, and I return the favor, I despise Democrats and other statists.
No company should pay any taxes whatever. The quack environmentalist dictatorship and the bloodscking unions should be overthrown and destroyed. All foreign aid should be terminated immediately and a large part of the “government-owned” land in America should be put up for sale to kill-off the national and state budget deficits.
The Feds and the states should all have balanced budget amendments and their execs should have line-item veto authority. While we shouldn’t have “national ID cards” — we shouldn’t be branded like cattle by government — we should have Voter ID cards and HUGE penalties and JAIL time for voter fraud and election fraud. Pul the plug on the UN — throw them out and let them move to Belgium or Switzerland — without a penny of American taxpayer money.
I’m just getting started, folks.
- Tyler
Perhaps Trump would like to give us some logic behind why on Earth he thinks tariffs would be a good idea when they didn’t work when they were tried with England vs. the South in the cotton market? Perhaps Trump would like to give some examples where it HAS worked because I don’t know of one. I think his speeches whether running for pres or not have been a front to see how gullible people would be to the “rich and successful guy must know what to do” game.
I’m also sick of hearing about China “artificially lowering” their currency. We’re artificially raising ours if you want to bring currency values to the table. Canada’s currency is actually worth more than ours last time I checked by 6 cents…so why don’t we take a look at what THEY did since that was one of the “beacons” for the healthcare debate?
- gloria7
But I think it is still a good idea. The China currency is seriously under-valued. If I had my way I would impose a Tariff of 50%
- Tyler
I’ll tell you and Trump the same thing. Give me an example where a tariff has been imposed and it was actually successful and generated more wealth.
- Anonymous
Just you watch in the coming years, we’re already seeing reports of people/businesses buying the optimistic news of the economy and getting back in the time. Once loans start going out and you see the multiplier hit the over $1.6trillion sitting idle in the banks, then the real fun is going to begin anew.
- Anonymous
The USA must export to China:
-The minimun wage
-Unions
-Sick Leave
-Paid Holidays
-Family Leave
-ADA
-OSHA
-EPA
-Permit process
-EEOC
-Affirmative Action
-Employer based Daycare
-Employer paid Heathcare
-Employer paid defined retirement plan
-Employee Law Suits
When China requires most or all of the above for it’s workers, maybe the USA manufacturing worker will rise again. Until then it is bleak ! - http://www.theancient.us The Ancient
I disagree, however even if you could do that, there are 100′s of other countries ready to step in. In fact some sectors already feel China is unattractive for a varity of reason and are setting up shop in South America
- Tyler
Not all those are requirements of the government, but just things that certain businesses offer to attract employees. Now, the ones on your list that are…instead of China or any other country adopting them…let us get rid of them…particularly the minimum wage. Jobs get exported overseas and “illegal aliens” take jobs here because of that one alone more than anything else you’ve listed.
- Anonymous
Don’t think Donald Trump would be the best choice, but if it came down to it, I’d take him over Obama and his policies any day. I myself and not a fan of free trade acts.
- Guadanana
Quote: ” My main problem is that I’m not sure if I can trust him. I worry that he’d just be another politician that would say all of these great things and then stab us in the back later.”
That about sums it up. Like Trump but he’s a negotiator and negotiators know exactly what to say to seal the deal. Does that make one honest and trustworthy? Not sure.
- Gabe
The Chinese has made everything from paper to mobile phone and even stealth fighter jets now. Obviously they have managed to make all that at a lower cost and maybe higher profit margin. Its really amazing how far this country have come from its tight fisted communist days.
We help Americans find jobs and prosperity in Asia. Visit http://www.pathtoasia.com/employment for details.
- Anonymous
We could do worse than Donald Trump. He thinks correctly. He could be a kingmaker.
- Tyler
We can do worse, but we can do a heck of a lot better too.
- poljunkie
remember when growing up, everything said- made in Japan?
- Tyler
I remember some of that, but when I was a kid…most of the stuff said “Made in Taiwan.”
- http://www.facebook.com/people/Hugh-Campbell/100001222718867 Hugh Campbell
U.S. Federal Leadership’s Unresponsiveness to Combating China’s Innovative Beggar-Thy-Neighbor Strategy over the Last 10 Years!
The Chinese Government gets result by managing its economy; therefore received the highest governmental trust ranking of 88% in the 2011 Edelman Trust Barometer®. The U.S. Government may not even deserve the 40% rating because it has done little if nothing to combat China’s innovative beggar-thy-neighbor strategy.
Four deficits gave birth to the book and movie I.O.U.S.A, namely, the leadership, trade, savings and the fiscal deficits. Following the releases of the I.O.U.S.A. book/movie, the better financed special interest groups caused the fiscal commission to become a reality, leaving the remaining three deficits, most relevant to the middle-class, to fall by the wayside. These 3 middle-class-relevant deficits, namely the leadership, trade and savings deficits are most causal to our current economic plight, while the fiscal deficit is primarily the result (effect) of the first three. I.O.U.S.A. treatment of the trade deficit was framed in the context of Warren Buffett’s parable Squanderville versus Thriftville. The portion of my post, titled, An America Lost in Squanderville deals with the trade deficit:
The United States’ trade gap is the proverbial “leak-in the-dike” with its de-simulative effect on our recovery. In November 2003, Warren Buffett in his Fortune, Squanderville versus Thriftville article recommended that America adopt a balanced trade model. The fact that advice advocating balance and sustainability, from a sage the caliber of Warren Buffett, could be virtually ignored for over seven years is unfathomable. Media coverage that China has kept it currency undervalued is a gross understatement, it has actually been keeping the U.S. dollar over-valued; which adversely affects all U.S. trade with ALL U.S. trading partners, not just trade with China. Until action is taken on Buffett’s or a similar balanced trade model, America will continue to squander time, treasure and talent in pursuit of an illusionary recovery.The Leadership deficit can be best addressed with campaign financing reform that really works. The savings deficit can be best addressed with increased productivity, similar to Japan post-WWII economic miracle pioneered by W. Edwards Deming, an American statistician and replacing federal employment and most federal income taxes with a federal consumption tax, like those used by most industrialized countries, except the United States.
- http://www.facebook.com/people/Hugh-Campbell/100001222718867 Hugh Campbell
U.S. Federal Leadership’s Unresponsiveness to Combating China’s Innovative Beggar-Thy-Neighbor Strategy over the Last 10 Years!
The Chinese Government gets result by managing its economy; therefore received the highest governmental trust ranking of 88% in the 2011 Edelman Trust Barometer®. The U.S. Government may not even deserve the 40% rating because it has done little if nothing to combat China’s innovative beggar-thy-neighbor strategy.
Four deficits gave birth to the book and movie I.O.U.S.A, namely, the leadership, trade, savings and the fiscal deficits. Following the releases of the I.O.U.S.A. book/movie, the better financed special interest groups caused the fiscal commission to become a reality, leaving the remaining three deficits, most relevant to the middle-class, to fall by the wayside. These 3 middle-class-relevant deficits, namely the leadership, trade and savings deficits are most causal to our current economic plight, while the fiscal deficit is primarily the result (effect) of the first three. I.O.U.S.A. treatment of the trade deficit was framed in the context of Warren Buffett’s parable Squanderville versus Thriftville. The portion of my post, titled, An America Lost in Squanderville deals with the trade deficit:
The United States’ trade gap is the proverbial “leak-in the-dike” with its de-simulative effect on our recovery. In November 2003, Warren Buffett in his Fortune, Squanderville versus Thriftville article recommended that America adopt a balanced trade model. The fact that advice advocating balance and sustainability, from a sage the caliber of Warren Buffett, could be virtually ignored for over seven years is unfathomable. Media coverage that China has kept it currency undervalued is a gross understatement, it has actually been keeping the U.S. dollar over-valued; which adversely affects all U.S. trade with ALL U.S. trading partners, not just trade with China. Until action is taken on Buffett’s or a similar balanced trade model, America will continue to squander time, treasure and talent in pursuit of an illusionary recovery.The Leadership deficit can be best addressed with campaign financing reform that really works. The savings deficit can be best addressed with increased productivity, similar to Japan post-WWII economic miracle pioneered by W. Edwards Deming, an American statistician and replacing federal employment and most federal income taxes with a federal consumption tax, like those used by most industrialized countries, except the United States.
- deadfrenchman
The Candlestickmakers’ Petition
Donald Trump says that the way he would deal with China is that he would tax all of their imports by 25% to adjust for currency manipulation and when it comes to cutting government he would start with the Department of Education. Quite interesting.
I found this to be a very interesting interview as Trump comes across as knowing exactly what he’s talking about. When he says that education should, for the most part, be local that strikes a chord with me. He also says he’s pro-life. Now he hasn’t announced that he’s running for President, but I take all of this in that vein.
I will add though that my antenna goes up when I’m listening to Trump. My main problem is that I’m not sure if I can trust him. I worry that he’d just be another politician that would say all of these great things and then stab us in the back later. After all, wasn’t he a Hillary Clinton supporter? I’ve seen video of him saying that her universal health care idea in the 2008 sounded like a great idea. And according to this, he hasn’t always been pro-choice either. Check out that link for more stuff on him as well.
So yeah, I’m conflicted over Trump as a presidential candidate. But I could see him as a great advisor.
—
- http://www.theancient.us
- http://www.theancient.us
- http://www.theancient.us
- http://twitter.com/eEditor
- http://punditpawn.wordpress.com
- http://punditpawn.wordpress.com
- http://profiles.yahoo.com/u/DFSGRXZN2TU4X4HEUVUAM7DUQQ
- http://www.theancient.us
- http://www.theancient.us
- http://www.theancient.us
- http://profiles.yahoo.com/u/DFSGRXZN2TU4X4HEUVUAM7DUQQ
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- http://www.facebook.com/people/Hugh-Campbell/100001222718867
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