there will be SOME new jobs , but they might not be 'jobs for life ' the workers to prepare/build new factories or clear out/renovate abandoned buildings , workers to make/install new machinery and robotics"Meant to". Where are the new jobs? Of course Trump would be to blame if the new jobs aren't materialised.
In his defense, he never stipulated the jobs would be located in America....
Mexico's Sheinbaum Counters Trump Deportations With Tens of Thousands of Jobs for Returned Citizens
The country's leading business group announced that over 200 companies have made 63,880 job vacancies availablewww.latintimes.com
So when Americans cry out for the government to intervene on their behalf to keep their overpaid jobs that somehow isn't social liberalism? Please.
He then goes on to say that the same politics that have electesd these "revolutionaries" to office, reliably restrict their powers 2 years after the fact. So this rubbish not only doesn't last, it is reliably neutered by the electorate!
The absolute last thing we need are private organisations ("Project 2025" and the like) dictating public policy.
America is not some inheritely superior political beast because of their origin.
They are where they are because the entire world was thrown into turmoil post WW2 and the globe decided to cede monetary powers to the US.
Another factor here was technological change.The usa was the only major industrial economy that did not have the **** bombed out of them during WW2.
UK , Germany, Japan, and some other parts of Europe were bombed.
huge vomitburger from meThis man is a genius. The way he reduces something so complex into one simple but powerful statement. If I had a hat it'd be off. I've left a bio snippet below if you want to chase up some more of his thoughts. @basilio
"Richard David Wolff (born April 1, 1942) is an American Marxian economist known for his work on economic methodology and class analysis. He is a professor emeritus of economics at the University of Massachusetts Amherst and a visiting professor in the graduate program in international affairs at the New School. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City.
In 1988, Wolff co-founded the journal Rethinking Marxism."
What Trump is trying to do is a total fantasy; they would have to reset their whole economy, devalue the dollar and pay people $5/hr to make it work. Either that or they would need to subsidise manufacturing, and who is going to pay for that in the end?there will be SOME new jobs , but they might not be 'jobs for life ' the workers to prepare/build new factories or clear out/renovate abandoned buildings , workers to make/install new machinery and robotics
on the positive side the increased demand might last for 10 years .. and don't forget the upgrading of roads, rail and bridges they will need more frequent repairs/upgrades
The question I'll ask is what's the alternative?What Trump is trying to do is a total fantasy; they would have to reset their whole economy, devalue the dollar and pay people $5/hr to make it work. Either that or they would need to subsidise manufacturing, and who is going to pay for that in the end?
What happened to the billions of dollars of debt for the mansions and yachts that people walked out on without much consequence?This man is a genius. The way he reduces something so complex into one simple but powerful statement. If I had a hat it'd be off. I've left a bio snippet below if you want to chase up some more of his thoughts. @basilio
"Richard David Wolff (born April 1, 1942) is an American Marxian economist known for his work on economic methodology and class analysis. He is a professor emeritus of economics at the University of Massachusetts Amherst and a visiting professor in the graduate program in international affairs at the New School. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City.
In 1988, Wolff co-founded the journal Rethinking Marxism."
I don't think there's a simple answer to what you're asking.The question I'll ask is what's the alternative?
If not manufacturing then what, exactly, is the alternative to balance trade?
It's either produce more or consume less, the only question being what to produce more or consume less of, and how to get people to accept that.
Australia ultimately faces the same dilemma. Not immediately, but bottom line is our top exports aren't sustainable meanwhile population is rising.
There's also the question of how was it done historically? Go back two generations, ~60 years, and the US did indeed have a thriving manufacturing sector and that was in a time of drastically lower productivity in manufacturing than is the case today. Despite that Americans had houses, they had cars, heck they even had air-conditioning and colour TV long before the rest of the world had those things.
GDP might've been lower back then when measured in funny money aka USD, but it looked pretty good when measured against tangible things such as housing, cars and the ability to afford ordinary consumer purchases.
If it was doable then, why isn't it doable now?
Thanks @JohnDe . The youtube reiterates the risks presently of an economic worldwide recession because of both the USA and China tariffs. Fortunately just in the last 24 hours the Chinese appear to be acting in a more mature manner and have dampened the rhetoric and stated that it will be business as usual re exports and have adopted a "let's see what happens" attitude.
Australia has become a country with a majority brainwashed mentality. We think it’s ok to pay 47% in the dollar tax rate, we think that our tax dollars are being well spent, we are happy to have our major information source controlled by union members, we’re happy to shut our borders and lock up people trying to get to family.
Born against that same protector, Americans in 1776 connected their freedom to its defeat. This initial burst of revolutionary fervour has no analogue in the Australian experience. Indeed, in the US, political authority has faced recurrent challenge. In Australia, we like to be told what to do. Our larrikinism is quaint, mostly exaggerated and collapsed when public health officials locked us down in 2020-21.I often encounter inner-city Melburnians sentimental for this government overreach, who think it underreach. Some still wear masks as acts of Covid nostalgia. Our safety is the principle demand we make of government.
Poor governance is not a uniquely Australian thing - we shouldn't look to America to emulate and reference their politics.
COVID was a global problem - it's not like the Americans weren't under lock down.
In fact, if you want to mold Australian politics according to a nation's ability to resist unjustified lockdowns, why not use the Swedes as a reference? (They never locked down at all).
My point is, America's history is irrelevant. The modern (political) American has nothing of value. Their history is a narrative that satiates them. When was the last time you saw an American exercise "freedom"?
Mr. Trump is winding himself up to fire Mr. Jerome Powell the head of the Fed. This will have a big effect on the currency markets with the USD falling imo to heretofore unimaginable levels. I'm moving much of my IBKR $USD cash back in to $AUD. Only time will tell if it was the correct move. See the "Gold heading" for it's potential effect on gold and other PM's.
White House is studying whether Fed Chair Jerome Powell can be fired, top adviser says
President Donald Trump has escalated his attacks on the US’s top central banker this week.www.semafor.com
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