Posted 4/9/2025 11:42 (#11182448 - in reply to #11182259) Subject: A better Job and wealth in his 401k
Pofarmer - 4/9/2025 09:20
So the problem is, how much of that "success" did the average worker receive?
We can not compete with 6 billion people earning less than $5 / day.
off shoring.. globalization.. or Comparative advantage.. helps EVERYONE. Poor countries get Jobs.. which increases their standard of Living.. they then buy foodstuffs from the US of A.. see exports of Soybeans from nil to ALOT plus the Trillion $$$ ++ we’ve seen as a result.
US consumers get cheaper prices.. for things like Steel.. which John Deere uses to make tractors and planters with.
We grow Cotton.. and send it to Vietnam and they send back shirts for $10 apiece. See Wal Mart..
The US economy has tripled in valuation and then gone up some more. It’s been a “no brainer.”
Todd asks about the Fiscal deficit.. below. That is a Congressional spending problem.. not a Trade deficit problem.
China had.. run a trade deficit.. sent us steel for cheaper than we can make it.. thus in effect subsidizing our economy.. which we gave them $$$ for.. which they invested in US Bonds.. which lowered interests rates vs.. what they otherwise would have been.. given Congress spending what it did..
Now, if China liquidates those bonds.. not only do we have higher prices from the trade war.. tariff.. taxes.. but ALSO HIGHER interest rates.
"Watch him sweat"
