Posted on 12/22/2016 5:07:55 AM PST by central_va
Since the passage of NAFTA, the American economy, which was already stagnating, has gone downhill at an increasing clip. When we examine the details of the “free trade” agreement, it is easy to see why it has caused so much devastation.
(Excerpt) Read more at economyincrisis.org ...
what does that even mean? Are you saying trade deficits don’t exist? Nor surpluses?
Great! We should bring manufacturing jobs back from Mexico and deport the illegal aliens. We're in very, very rare agreement here, TP.
I've always been in favor of securing the border and booting illegals. Glad you're on the same page.
” They went south of the border on their own free will. “
When there’s too many regulations and taxes here, and none in Mexico, lower wages and no tariffs, well yeah....
That’s like saying: People left East Germany of their own free will.
Sounds like a sucking sound, it does.
Also, Bush Sr. badmouthed Reagan's trickle down theory and called it "Voodoo Economics". Trickle down economics works! The more money companies/corporations make, the more they have to invest to creates jobs which creates ancillary jobs which all creates wealth. Reagan proved that by signing deregulation legislation.
It was one of the biggest growth eras in American history. I remember driving from San Diego to Long Beach where my ship was dry docked and noticing all the cranes/construction along the way. I was amazed at the time.
"Yur gonna hear a giahnt suckin sound of jahbs goin to Mexico, and Mexicans goin here to take our jahbs."
--Ross Perot
Yes, and the stupid arguments that ensue show that people do no really understand economics and markets. When someone “called down” Trump on why he did business with the same Chinese he was criticizing for taking our jobs, he said that he was a businessman and the poor trade deals forced him to do that to compete in the market place. What followed in the media collective was crickets chirping...Why? Why weren’t Hillary and her minions hitting him every day on that topic? Funny thing is they could have and most people would have bought the premise that he was just an evil capitalist. Sad state of affairs.
Yes.
What are described as trade deficits are imbalances in the accounts of individuals and businesses. That is individual Americans and companies buy more from a specific country than other individuals sell to that nation to create what is politically termed as a trade deficit.
These trade imbalances are not sovereign. That is the imbalance does not occur when one government buys more than it sells.
He could have helped himself by more adequately explaining his economic policies than telling Larry King "Just get under the hood and fix it, Larry."
Perot was a nitwit who followed Milton Friedman’s adage that businessmen believe in the free market for everyone but themselves. What he said was from political, not personal, belief.
The only deficit we have is of national backbone.
We have...or at least HAD...more than enough ability to make almost everything we needed right here at home. And America is one of the very very few nations in the history of the entire world that could say that.
Instead we’ve chosen for years to gamble on letting companies offshore jobs to peasant labor in return for slightly lower prices on cheap goods sold to the rest of the dwindling middle class. Now we’re at the tipping point of starving too many gooses that lay golden eggs.
With our resources and population the only reason we off shore is because of corporate greed and profit. Manufacturing in the USA has always been profitable. These state-less CEO’s and their international stock holders can never have enough and they hate borders.
You bet! GM used to make tons of money....and crappy cars.
If it weren’t for competition from Honda and Toyota in the 1980s, GM would still be trying to sell us Chevy Citations.
Yup. Damn those Japs for forcing them to improve.
“These trade imbalances are not sovereign. That is the imbalance does not occur when one government buys more than it sells.”
It’s not as simple as that: China and other surplus countries use their dollars to buy US Treasuries.
The only product we sell that they want.
The crappy cars were a function of engineering and quality control.
And a lack of competition.
It wasn’t a lack of competition. There were 4 major builders. The cars made in the 50’s and 60’s were beautiful and easy on the wallet. I could fix almost everything on one myself. Rust being the worst problem. It isn’t like foreign imports didn’t rust. Toyotas were known as rust buckets for many years. Unfortunately the gas crises ended the fun.
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