Posted on 07/18/2011 11:48:57 AM PDT by JerseyHighlander
Ross Perot Was Right On July 18, 2011, in Economy, by Tim
Spotted over at Patrick.net this morning, 1992 Presidential candidate Ross Perot’s warning about a steady decline in U.S. wages from almost 20 years ago sounds quite prophetic. All you have to do is substitute “China” for “Mexico” when you hear about wages converging at six dollars an hour – ours going down, theirs going up.
Sadly, no one talks about his much – instead, you get a political debate about taxes and spending. And, of course, monetary policy at the Federal Reserve that is largely based on a consumer price index that doesn’t distinguish between imported goods and goods that are produced domestically only exacerbates the problem.
One of the hardest lessons for me was to learn that all those free trade models in economics class were wrong: Free-trade is indeed beneficial between nations that both abide by the rule of law and have similar living standards/wage levels. It is not beneficial for a wealthy nation to have free trade with Third World country that does not abide by trade agreements, does not respect intellectual property rights, lacks worker freedoms that result in higher wages, and has a much lower standard of living. All of these apply to China.
Roos Perot was wrong. Our troubles are caused by our own policies. The democrat war on wealth is succeeding.
Canada and Mexico happen to be our largest trading partners.
what, free trade sucks?
Perot was a gun grabbing statist, but he was right about the Debt and Trade.
Our US masters may desire the pay of their "peers" in China.
I voted for Perot and all i got was 8 years of Clinton!
Yeah, apply that to the Constitution and see where it takes you....
“Roos Perot was wrong. Our troubles are caused by our own policies. The democrat war on wealth is succeeding.”
7 million manufacturing jobs have been lost. Are you so eager to believe what your banking masters tell you that you can’t see how many jobs have been lost from “Free Trade”
$1.75 trillion wasted each by industry complying with Federal Regulations alone. We could do something about that. We don’t. Hear and republicans complaining about this? Even one proposing dismantling the newest regulatory boondoggle - Consumer Protection Bureau?
How can you blame other countries for taking advantage of our self destructive tenancies?
Aim your anger where it belongs - our own government.
You mean, all those professors that told me the Constitution was a living document that we should interpret in whatever way gives us the best results, is all WRONG? /sarc
In all seriousness, the problem with my economics classes in college was that they were taught by a libertarian, which gave me more trust than I would have in most professors.
Perot in ‘96 was my first vote for president. I will likely vote 3rd party for the 2nd time if Mitt gets the nomination.
environmental regulations
Not just environmental regulations. $1.75 trillion in ALL KINDS of regulations. And hundreds of $billions more are in the pipeline.
>> I voted for Perot and all i got was 8 years of Clinton!
Plus some...
It turned out Clinton was a much better president then Perot would have been. Perot could have fooled many conservatives into accepting economically disastrous tax increases in a vain attempt to balance the budget on the backs of tax payers.
Our technology base is moving to East Asia while our open borders policy makes America more like Third World Latin American countries.
Thank God we still lead the world in Womyn’s and Gender and African-American Studies scholarship! After all, we’re gonna need something to fall back on.
If we made this country the best place in the world to make money it would all come flooding back.
Than.
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