Posted on 03/22/2014 10:51:14 PM PDT by ckilmer
>>Some of this is also our domestic oil boom.
Oil and natural gas. Cheap energy is great for business.
Correct!!!!! The lower trade deficit (described in this article) helps the USD retain reserve currency status. So all in all this is good news. We get to buy more cheap stuff from China for a while. This delays Russia and China being able to sabotage the US dollar out of reserve currency status
Its not that we are exporting so much oil/gas. Its that we don’t need to import as much due to fracking, Baaken shale etc
Look at the 2008/2009 number on the graph. The American economy went into a deep dive and it’s stayed there, with a bit of wiggle in 2010 and 2011. It’s not good news, it’s not energy, it’s a piss poor economy.
Entire books can and have been written about the profound structural weaknesses of Russia, China, Europe, and other projected rivals and adversaries to the dollar's reserve currency status. A simple observation though also makes the case: in every such rival, those who accumulate private wealth go to great lengths to move much of it out of the country and put it into dollars and dollar denominated investments. As long as mobile smart money craves dollars, the dollar will continue as the world's reserve currency even though we spend too much and get so much else wrong in our fiscal and economic policies.
Obama is doing his best to ruin our military in many ways with gays, budget cuts etc.
Few know that our strong military that can project power thousands of miles is a major support of our US Dollars reserve currency status. One example. Japan keeps one trillion in US Treasuries as a way of payment to us backing them up against China with our nuclear umbrella etc. Of course under Hussein Ubungu Japan should worry if we will follow through in a crisis
Bunk.
America imports everything, a lot of it from Communist China, and we have spent ourselves into a massive debt.
Just one generation ago, we were on top of the world.
Now we are approaching 18 trillion in debt, and that shows ho sign of slowing.
Bring back American jobs. Now. Selling American industrial greatness to China has been a massive mistake.
Bring back American factories.
No bringing back American factories until we do away with labor unions. In the meantime, better to have it all made overseas. Quality of the products are much better with non-union labor - even if we have to bring them over here on a boat.
America will never get rid of labor unions.
But China how exports more than America does. A lot of Chinese imports, come right back to America. So we continue to buy our way into ever-larger financial debt, while Chinese workers make ever more money.
China has become our biggest problem now.
Bring back American jobs.
Your misunderstanding remains total
Or yours is. Let’s take a look at what the two of us advocate:
I am for American businesses.
Just one generation ago, we led the world.
Now not so much. Our military budget is facing cutbacks, and Democrats are taking over our country. We are now nearly 18 trillion dollars in debt, and that is (rapidly) increasing, every single day.
Sorry but I think it is you, who are suffering a near total misunderstanding.
America needs jobs.
Jobs.
The one thing we are giving away, is the one thing our country most needs:
Jobs.
If you think protectionism is the answer to USA jobs conundrum, you are sadly mistaken.
Whatever good standard of living we still enjoy here is because of cheap imports. If we had to pay American union wages for all these cheap goods in Wal-Mart, our standards of living will take a steep nose dive.
Stop dreaming of the monopoly we had after WWII on manufacturing. The other industrial countries were bombed out. Our factories were untouched.
Technology is no longer our monopoly. China and India can manufacture anything we can. And their labor rates are far below ours.
To summarize, get used to fierce competition from other countries. Until our students outwork and outsmart others, we will remain a mediocre country for good jobs.
You are suggesting “PROTECTIONISM”!
That is the worst possible solution to our problems.
I pity your lack of understanding basic economics.
So am I. I am for a pro-American industrial climate.
America needs jobs. Stop sending American jobs to China, and elsewhere.
We need jobs here.
Jobs.
You are the brainwashed fool. Where did you go to college? Check out the history of tariffs in America. We were a high tariff nation until 1913 when the Federal Income tax and the Federal Reserve were instituted. What a coincidence!!!
Prior to 1913 most funding for the Federal Gov't was from tariffs. Thus we had a much smaller FedGov that did not have the money to muck around with the 10th Amendment and over-regulate the several States (United States Constitution). Federal taxes on tobacco and alcohol were also large revenue generators
Summary: You are a fake libertarian. I am the real libertarian who wants libertarian economics within our borders while we pursue pro-American policies (keeping jobs at home) when it comes to world trade. Unrestrained free trade is for idiot nations. This is what Koreans, Japanese and Chinese say and I agree.
#34 :)
Bump for later
“To summarize, get used to fierce competition from other countries.”
We are used to it.
“Until our students outwork and outsmart others, we will remain a mediocre country for good jobs.”
That isn’t true at all. Haven’t you noticed that many qualified people have been laid off in various fields and replaced by less-qualified, cheaper staff? At some point our corporations decided that it was worth having someone get it 75% of the time at half the salary of the person that could get it right 99% of the time.
If enough voters fear for their livelihoods, they’ll vote for “political protectionism” (also known as socialism).
“I pity your lack of understanding basic economics.”
I pity your lack of understanding basic politics; enjoy permanent Democratic leadership.
His kind of stuck up (know it all economics) stupidity gets Democrats elected. He might as well be living on a cloud or an island. Pure economics is for chumps. One must understand politicized-economics and beyond that....geopolitical-economics. Vlad Putin and the Chinese understand this. Naive Americans are lost here
And they will elect people who will tax Mr Free Trade Apostle to death. Its already going on. Tariffs or taxes pick your poison
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.