"Well then, business will have to suffer, all right?"
Posted on 07/20/2018 6:19:02 AM PDT by GonzoII
“...and Adam Smith was opposed to tariffs, because they distort the market,”
He was absolutely correct, the market IS currently distorted:
There’s little or no manufacturing in the USA.
“1) The Chinese think its ok to break any rule as long as you don’t get caught.”
Sounds like New Jersey.
You can’t be serious when you suggest North Korea as a substitute for the Chinese market...the Chinese market is > 1B consumers, while the small number of North Koreans are eating grass. They have no foreign currency.
Unfortunately, not enough to tariff to eliminate the income tax for personal but we could for businesses in the US, which would greatly pump up domestic production and boost 401ks/pensions. ($2.5T in imports x 20% = $500b, although imports would drop so maybe $350b)
Trump doesn’t like tariffs either, which is why he offered the G7 no tariffs, no trade barriers, and no subsidies.
Why wouldn’t they take that offer?
Furthermore, the other countries in question have tariffs on our guides, outright trade blockage, and steal IP, so it's not even free trade. Lastly, Adam Smith also hypoticized that currencies would rebalance to eliminate trade deficits. Why do we have a $500b trade deficit then (hint: currency manipulation)?
We were being “de-industrialized” prior to the 90’s, and THAT was planned.
Result: Destruction of the middle class (that’s what the dems/deep state want)
Whole towns (around here) were once thriving wealth-building factory towns...now:
The row housing is all section 8, welfare recipients wander under the shadow of the empty factory like medieval peasants amidst Roman ruins in the dark ages.
“We still make jet engines”
GE has moved much of their jet engine manufacturing and support to China.
We used to make EVERYTHING.
We don’t make clothing
We don’t make tvs
We don’t make cell phones.
We don’t make computers.
Etc, etc...
We need more tariffs until we’ve re-established manufacturing in the above areas.
Sell your stock in Dollar Tree now.
Yup - the Euro model today is a ruling class and a peasant class, no different than in the middle ages. They want the US to be that way as well.
Taxes, I mean Tariffs, get people’s attention.
Taxes, I mean Tariffs, get people’s attention.
We have a little start with computers with the Mac Pro plant in TX.
Unfortunately, Apple has been criminally negligent in their treatment of the desktop Mac line, especially the Pro and Mini. Cook is an idiot to not use a tiny fraction of the reserve to refresh the MacOS part of the ecosystem that makes for the most complete integration of the iOS products (iPhone, iPod, iPad, iWatch) and has been earned by the grahic artists and publishing types that kept Apple afloat during the lean years.
Foxconn could make TV screes, cell phones and computer main boards in Wisconsin. Eight out of 11 Intel manufacturing plants are in the U.S. (OR, AZ, NM, MA). The processor is the most expensive (and most profitable for a big company) part of the computer. The other three plants are in Israel, Ireland and Red China.
Well, you picked the right character to make your point. Stupid, hot headed, reckless, ... and dead on the causeway.
Good! F the damn “markets”
They have tariffs on our stuff. Equity is so unfair.
They have been adjusting organically for years. in 2007 our trade deficit with China was 6% of GDP. Today, our China trade deficit is 2% of GDP.
You may think these tariffs are temporary now, but they are not.
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