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| actually the wrong turn agriculture has made has created opportunities, i raise outside hogs for niman ranch. as the Good Book says `the rain falls on the righteous and the wicked`the same with economics, this was the collective path chosen that we go. you cant tell (well, i suppose you could :-) ) a 30 year shuttered textile mill in south carolina `why dont you start up making shirts again and compete with $5 walmart shirts, whats stopping you?` the answers are obvious.
with tariffs, it is a temporary tool to take care of american workers (and companies that would rather not race to the bottom chasing cheap labor) . if its a product like bananas or a rare earth product not found in the us, we should of course trade for it, but the exporting country should attempt to reciprocate in buying from the us.
in the mid 1990s we essentially had balanced trade (zero china trade deficit) with china, but within 20 years it grew to +$300 billion trade deficit.... that is a lot of $15 soybeans, right? my life wasnt horrible in the 1990s without these massive trade deficits. and look at the national debt during that period, we went from $4 trillion to $34 trillion.... and i`m a luddite? :-) | |
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Tarrifs, parti trios……
