Posted on 12/29/2013 7:28:10 AM PST by Red in Blue PA
Wait, what? You are the one promoting Free trade and off shoring manufacturing to Communist China as a panacea-NOT ME.
I figured that one would go over your head.
All New York has going for it is the NEW York Stock Exchange. When Deblasio gets done with his income equality scheme we may have the Houston Stock Exchange. Then where would New York be?
That maybe true. But tariffs prevent the TOTAL DESTRUCTION of your industrial and manufacturing base. How can there be ANY economic activity if there aren't enough wealth producing jobs?
“But tariffs prevent the TOTAL DESTRUCTION of your industrial and manufacturing base.”
Tariffs prevent the specific destruction of specific goods or services—that is their design. For example, a tariff on steel protects that product’s trade, at a high price, within the nation where the steel is produced and sold. Tariffs, however, promote the destruction of general economic health so the net effect is fewer jobs and less wealth over time. Despite the reduction of manufacturing in the US, the overall wealth of the US over recent decades has not suffered from manufacturing losses to nations that provide lower-cost labor. The individuals who worked specific manufacturing jobs, in steel production for example, have suffered the loss of those jobs while growth has occured in tech, finance, and other areas. It is not total destruction. However, if you enact tariffs, you get retaliation from other countries, higher priced goods, and lower economic activity plus a hindrace to supporting wealth-producing jobs.
I appreciate your point of view and welcome an explanation of that view. Thanks, and respect, for your post.
“All New York has going for it is the NEW York Stock Exchange.”
You got it right. The entire NYS revenue system is critically dependent on one industry, the finance industry. That industry is centered in lower Manhattan. The great threats to NYS are the London Stock Exchange and other exchanges that technology makes more accessible every day. Higher taxation plus other burdensome regulatory acts and greedy acts by NYS politicians who cannot keep their hands off the golden goose, increase that threat.
See my tagline and seek help.
Don’t need to read your tagline or seek help. Keep the low-intell, child-like insult cliches to yourself. Argue from evidence, reference, or logic.
Arguing evidence, reference, or logic with the likes of someone that makes a statement like that is a waste of time. All I can do is shake my head.
Imagine that.
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