cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
9 Replies
Frequent Contributor

Re: hummmm

https://us10.campaign-archive.com/?u=9116789a51839e0f88fa29b83&id=646c7b19aa&e=a7192bc790

"PS: Just two months after you argued (in June) that “America’s attempt to ‘get tough’ with China could accelerate its own relative decline,” the US Treasury has officially designated that country a currency manipulator. America, you’ve said, “will never reclaim the standing it had in 2000, and it probably cannot even recover the tenuous but still solid geopolitical position it enjoyed in 2016.” With this latest move, has the US reached the point of no return?

BD: As Adam Smith once wrote, “there is a great deal of ruin in a nation.” There are rarely true points of no return. Moreover, in this case, China faces serious problems of its own, relating to governance, inequality, and development. It is also on the frontlines of the slow-moving but dire climate crisis, in a way that the US is not.

That said, the US will not recapture its position as the triumphant leader and guide of global progress that it was at the end of Bill Clinton’s presidency, or even as the wounded but still-preeminent global power it was at the end of Barack Obama’s presidency. This will be true, even if the forces that elected Donald Trump are as scotched as the supporters of Republican California Governor Pete Wilson were after he declared Hispanics the state’s Public Enemy #1 back in the 1990s. It will be true, even if Trump’s successor goes on a global apology and listening tour, and the US works very hard to become its best self.

Whatever happens, the US can hope only to be one power among several. The world is in desperate need of mechanisms that can underpin the provision of global public goods in such a multipolar world."

Veteran Contributor

from when hillary was supposed to win

Frequent Contributor

Re: from when hillary was supposed to win

And, of course, our trade deficit is increasing sharply, manufacturing is in recession and coal is dying. Probably the lowest Net Farm Income since before the boom.

Thankfully "the consumer" keeps powering along, getting some money from wherever it is that consumers do.

But you can sleep well knowing that globalization has reduced the percentage of people in the world living in extreme poverty to a record low.

That has been at no apparent cost to aggregate US wealth or income but the distribution thereof is a problem.

https://www.bradford-delong.com/2019/08/eg-the-case-for-sane-globalism-remains-strong-financial-time...

Veteran Contributor

Re: from when hillary was supposed to win

Because the lower end of the wage scale is competing against much cheaper foreign labor.  Capital moves labor can't.  Regulation varies, production seeks the lowest cost environment, regulation adds costs.

Advisor

Probably then not a great idea

to have one’s and their generations vested heavily in an enterprise that could easily be overwhelmed by fluid capital and requires an ever lowering amount of labor.

Senior Contributor

Re: Probably then not a great idea


@bruce MN wrote:

to have one’s and their generations vested heavily in an enterprise that could easily be overwhelmed by fluid capital and requires an ever lowering amount of labor.  


Name something that doesn't.

 

I've got numerous friends in engineering, who had great careers and burgeoning income, and saw it fade away as they trained their Indian replacements here on h1b visa's.   

 

Its funny, I read plenty of articles from pre-trump days that say the same things I'm saying written by progs.   The only difference being that the progs are communist that see income redistribution as the solution to the problem, whereas I see the need to level the playing field for the American worker.  If the American worker is asked to compete with a Chinese person, then give him as low a cost regulatory environment, set his minimum wage at the same level as the Chinamen's, or perhaps if you don't want America rivers to resemble the Yangtze add cost to the Chinese goods to via tariffs.  

Advisor

Re: Probably then not a great idea

Your analogy is pears and kumquats.

Frequent Contributor

Re: Probably then not a great idea

More money than ever in this country, it just mostly gets routed to the top.

There are better ways than to redistribute it than welfare.

But 'ol Grover's had us under investing in ourselves for 40 years.

He's sorta like the Wayne LaPierre of public finance. Bet he has a nice house too.