Like many other college-educated Americans who live in cities on the coasts, I’m not a big fan of tariffs. As an economics student, I learned that these taxes on imports produce something called “deadweight loss,” which, as the term suggests, is undesirable, an inefficient drag that benefits neither producers or consumers.
As a history student, I learned that the Smoot-Hawley Tariff that Herbert Hoover signed into law in 1930 worsened the Great Depression. As a consumer, I’ve appreciated the way that tariff reductions and free trade agreements negotiated in the past 30 years have meant easier, cheaper access to imported goods, including Egyptian cotton, Mexican avocados, and made-in-China iPhones........To Read More....
My Take - I keep coming back to this question. If tariffs are so bad and hurt the economy, why then do all these countries keep putting them onto American products? Another question I keep asking is why is it China is doing so well economically, yet they can't create their own national market in order to survive? Because their economy is like junk bonds. Big risks in order to create wealth but unstable and catastrophic against adversity.
Let's try and get this right. The only country in the world that can feed itself, fuel itself, arm itself defend itself, create it's own internal market and pay off it's national debt is the United States. We don't need them and before all this plays out American companies will be returning to the United States, which will have the only stable society left in the world.
I believe there's a worldwide depression on the horizon and the world's nations are going to Balkanize into smaller states, their natural social paradigm. It's already happening in Europe, and I'm convinced it will happen in China and Russia.
Look out for immigration then!
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