Posted on 05/08/2016 5:49:19 AM PDT by TigerLikesRooster
Why a conservative economist says Trump could make America ‘the North Korea of economics’
By Jim Tankersley May 6
In his run for the White House, Donald Trump has threatened to slap tariffs on imports from China, in almost-certain violation of international rules. He has threatened to confiscate money that immigrants from Mexico wire home to their families, in order to force the Mexican government to pay for a border wall. This week, he suggested that, in an economic crisis, the government might repay only some of the money it owes to certain holders of its debt.
Those threats reflect an economic philosophy that is at odds with the traditional economic belief that markets cannot function well outside the rule of law. America has built 200 years of prosperity on a foundation of people agreeing to rules in business transactions, and then sticking to them. Trump appears willing to break those rules in the name of cutting better "deals" for American workers.
Trump's pledge to take extraordinary steps to help left-behind American workers has powered his campaign and made him the presumptive Republican nominee. But he has worried many economists, on the right and the left, who warn that breaking laws and commitments could undermine America's credibility with trading partners, raise its borrowing costs and potentially spark global financial panic.
(Excerpt) Read more at washingtonpost.com ...
Not concerned about international laws on economics. We dont need products from china.
Get a real argument.
Looks like you, like a lot of others, don’t live in the real world. This country was built with Tariffs. Worked then and will work now. Tariffs have two sides, like a coin. learn to see both sides of the question. Wise Up!
Keep in mind that the magical, mythical free trade system that the libertarian and “economic liberty” types fetishize has never actually existed.
I agree. The Japanese press is not the only ones laughing at him for proposing a 38 percent tariff on cars when under TPP American beef imports are scheduled to come way down. The American people and Congress are not going to stand for a tax on their Hondas and Toyotas either. He needs to get more sophisticated on the issue before a general campaign.
According to Adam Smith, writing in 1776, you could grow grapes (or coffee) for that matter in greenhouses. The only difference is scale. There are places in the U.S. where one could grow coffee. It might be more expensive and of poorer quality than Columbian, but it would be American grown coffee.
I know of exactly zero, (to arbitrarily many decimal places) American young women who aspire to work in a sweatshop. If we insist on wearing American made apparel it will be much more expensive, with fewer choices, and less value and quality for the money.
Protectionism is for losers. I like winners.
Why Jim Robinson allows you and others to push a Marxist free trade agenda is beyond my pay grade.
The most Marxist nation of them all does not engage in free trade - North Korea.
Of course we do...we are in a global economy whether or not you like it...
Sorry, but America cannot make everything consumers demand at the price they are willing to pay...
Trade with China needs to be fair and operated under the same parameters...
Currently that isn't the case...hopefully at some point it will be...
China has a billion plus people, once we get them to trade fairly with us, we will be able to ship to them lot of american made goods...
I'm sure the new wealthy Chinese like quality products not chinese junk just like americans...
US exports to China totaled $120 billion, making it the third-largest export market for US goods behind Canada and Mexico, our neighbors and NAFTA partners.
Yeah... let's stop buying Chinese goods so they stop buying our goods...
Good plan..
What < expletive deleted > you are. Nobody aspires to to that work but maybe that is the work that is available and it's what they can do instead of being on public assistance. You are a haughty POS and why Trump is going to take your state.
This what gives Republicans a bad name people like you. Your holier than though POS attitude. There is no type work beneath me I'd shovel sh!t before taking welfare. There is nobility in all work.
Cyber spit in your face. Find a new party.
I guess we’ll have to agree to disagree, in a civil and constructive manner, I hope.
So, if we change the laws and treaties, these people are perfectly fine with everything.
What’s the problem, again?
How stupid is that? Free Trade is the means to an end that end being a fully Communist state. Once that goal has been reached then all trade stops and the state controls production. What a political idiot you are.
With your attitude the most constructive thing you can do is shut up and support Trump.
Obviously he will follow law. Nothing he did otherwise would stand.
He is saying he will push for changes to allow his policies. Really.
Many economic issues are being overlooked herein including his most recent foolhardy comments on national debt. I would certainly like to know the names of his economic policy advisors.
“Every philosophy of mercantilism is a philosophy of a gun stuck in the belly of another American. Every mercantilist idea is a defense of gun-in-the-belly economics.” Hayek
https://mises.org/library/free-trade-litmus-test-economics
I wholeheartedly agree with your work ethic and sense of self respect. Public assistance for able bodied people is insanity. Unlimited immigration of unskilled people who do not even speak English is worse than insanity. I agree such immigration holds down domestic wages, especially for poorer Americans, and shifts demographics in a way that does not bode well for the future. In the 1950’s and 60’s when we had a brain drain, when he imported people like Werner von Braun and John Derbyshire, we prospered and created conditions for future prosperity. The current crop, not so much.
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