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Tariffs and Trade Wars

Posted By: Dquixote1217
Date: Friday, 22-Nov-2019 20:10:16
www.rumormill.news/95144

Trade wars? Hells bells, we've been in a losing trade war for 40 years now. We are the most open country in the world to trade with the lowest tariffs and trade barriers - and not coincidentally imo, the last time we had a trade surplus was in 1975! As Abe Lincoln once said "If we buy from somone else, we get the product and they get the money, but if we buy from ourselves, we get the product AND we get the money".

The establishment Business Rountable types, and the legislators they own, are crying doom and gloom about so-called protectionism - but I don't think we are talking about a "protectionist" trade policy so much as a "fair" trade policy. And people, you need to realize that there are about 14 multinational entities who own much of our Congress and who care far more for their profits than they do for our country. Trade deficits for us equal big profits for them.

The multinational globalists are also quick to claim that protectionist trade policies will result in a big net loss of jobs - and, besides, trade deficits don't matter anyway they say. And yet I saw an esteemed economist who was not beholden to the multinational globalist crowd last night on the boob toob say that reducing the trade deficit by half would result in 2 to 3 million new jobs.

Now, it can be argued that a certain amount of trade deficit could be healthy for our economy - but not a $700 to $800 Billion trade deficit. Tariffs and other barriers to true free trade simply must be equalized. And some industries, like steel and aluminum, must be protected to some degree for the purpose of national defense. The same goes for 5G cell phone technology. Even if we relied on Canada and Mexico for our steel and aluminum, who is to say with absolute certainty that one or both of those countries might disagree with a military decsision to the point of withholding those vital metals?

Defcits, imo, matter when we transition to a country of consumers with woefully small production. How do we pay for all the goods and services we consume, other than borrowing or printing more money? But hey, what do I know? I don't pretend to be an expert here - I'm just one of the bozos on this bus (with apologies to The Firesign Theater)

: )

My two cents




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AN EXPLANATION OF THE FACTIONS